Happy Monday!

Hello everybody and welcome to the Shuster "Daily Briefing" for March 23, 2009. I am writing to you again from New York City. Keith is off tonight. So, I'm substituting for him at 8 p.m. and my friend Ed Schultz will handle 6 p.m. duties.This has been a very busy news day for everybody trying to keep track of it. Our star D.C. intern Yang Wang is helping today with the briefing.

The Obama economic team rolled out their latest plan for dealing with the "toxic assets" that continue to gum up the balance sheets of so many financial institutions. Until these "toxic assets" are taken off the books, the credit crisis will linger. So, as complicated as this is, it's also a very big deal.

The Obama plan will involve the private sector joining the banks to buy up as much as a trillion dollars worth of loans or securities.

The Dow reacted strongly to the details of the plan and as of this note, the Dow is up by over 400 points.

The political reaction to the bank rescue plan has been mixed. Sen. Richard Shelby, R-Ala., insists that Treasury Secretary Timothy Geithner's plan is a mistake and that he (Geithner) won't last long.

Meanwhile, Sen. Judd Gregg,R-N.H., a former Obama pick for Commerce Secretary, is hammering the Obama budget proposal and says the massive plan will "bankrupt the country."

But President Obama holds a firm belief Mr. Geithner and his team are doing a good job handling everything on their plate.

In the midst of all the economic/policy news today, there is a fascinating debate emerging over a crucial union issue. Legislation, known as "card check," would give workers the choice of getting a majority of workers to sign pro-union cards instead of holding secret-ballot elections.

Key companies include Costco, Starbucks and Whole Foods are seeking a mid ground between the unions and employers.

By the way, we are also talking today about last night's 60 Minutes interview with President Obama. The President hit back at former Vice President Cheney who said a week ago that the Obama policies are making America less safe. The President said Cheney has drawn the wrong lesson from the Bush administration's mistakes.

It wouldn't be a "Shuster Briefing" if we didn't talk a little basketball... Have you been watching the NCAA tournament? Shuster wants everybody to know that he is currently first out of 17 colleagues in their "NCAA pool." David has UConn winning it all.

Finally, if you are shopping for a new car... take a look at this one. It's only $2,000.

And our "Quote of the Day" is from Dorothy Parker

"I don't care what is written about me so long as it isn't true. "

Thanks for watching Countdown at 8 p.m. and "1600" at 6 p.m.

Shuster/Yang