I try to draw our attention to any glimmer's of hope out there in the economy -- although these days I want to urge a bit of caution in equal measure. We don't want to jump the gun on what looks to be a rocky bottom here..

Still -- get this -- the number of new folks who had to show up to collect unemployment for the first time -- fell last week. In fact, the number of newly jobless getting on the line has now fallen for four out of the last five weeks!

Now -- before you get too excited keep in mind that the overall number of those receiving unemployment checks is still hitting new highs and is over 6.3 million.

So this means while the bleeding may be stopping -- the healing -- meaning new jobs for those out of work -- is not happening.

So this is the kind of thing that economists point to when they talk about "bottoming out" -- perhaps the bad news is slowing down.

Keep in mind - that commercial real estate is just now hitting the skids and the credit card companies are the new "subprime mortgage" -- so hang in there -- we'll continue to take note of the glimmer's of hope and try to keep our eyes on the big picture.

But, it does raise a question I've been asking for some time.

A bit of the Japanese model of taking the heat would certainly do some good here at home. Why have we not seen any of these executives come forward, take blame, and yes even thank the American people for saving their collective behinds in many cases.

Likely, the lawyers are keeping them quiet. The outrage against Wall Street so great - that some may be concerned for their safety or the safety of their families. But I think a bit of good old fashioned blame taking would go a long way. Let me write the script a bit -

"We overreached, we got greedy, we knew it couldn't last, we risked your money and blew it and for that we are sorry. Still, we ask that you trust us again. Invest in America again, we hope that you will. We will work hard to earn your again. This time we will not fail."

That would go a long way toward healing the rift between the people and the Street. On that point, Grassley is right.