Some of the more interesting and important items for February 22nd :

• New credit card law kicks in — with many of the old problems – Sweeping regulations taking effect today were supposed to prevent banks from exploiting borrowers. But an array of fees and loopholes remain
• Schlumberger to buy Smith Int’l for $11 billion – More consolidation
• Rate hike furor shows delicate task ahead for Fed –
• Treasuries Fall as Fed Lifts Discount Rate, Debates Asset Sales –
• Low inflation gives Fed room to keep rates down (AP) – Interesting…