Obama to Tap Berkeley Prof to Chair Council of Economic Advisers  —  From Jake Tapper and George Stephanopoulos:  —  ABC News has learned that President-elect Obama had tapped University of California -Berkeley economics professor Christina Romer to be the chair of the Council of Economic Advisers …

Fed Pledges Top $7.4 Trillion to Ease Frozen Credit  —  Nov. 24 (Bloomberg) — The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.

Citigroup  —  Mark Thoma has the rundown of informed reactions.  A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.

Sloppy Dems may spell Franken advantage  —  One of the closest elections in U.S. Senate history is hurtling towards a critical juncture in its ongoing recount this week, as the campaign of Democratic challenger Al Franken opens a new legal front in its battle to break a virtual tie with Republican Sen. Norm Coleman.

THE CAMPAIGN VS. THE TRANSITION.  —  My working model of the distinction between the Clinton and Obama campaigns during the primary was that the Clinton campaign was somewhat more boldly progressive on domestic issues, notably health care, and quite a bit more conservative on foreign policy.

Barack Obama, honeymoon killer?  —  WASHINGTON — One of the first things Barack Obama did after winning the election two weeks ago was put an old-school political brawler in charge of his White House.  Next, he saved Joe Lieberman.  Then, he met with John McCain, and asked Hillary Clinton to run his State Department.

Needed: Network bailout?  —  Bad economy slows ad sales  —  It's D-Day for the broadcast networks.  —  They've been living on borrowed time for the better part of two decades, thanks to advertisers willing to toss in more cash each year even as ratings slowly trended ever lower.

Stimulating  —  Obama team looking at $700 billion in total stimulus.  You should probably think of that as something more like $350 billion with a promise that there may be more, since they're talking about spreading it over two years.  —  This seems appropriate to me …

As President Bush's Term Comes to an End, Some Well-Known Offenders Seek Pardons  —  With a backlog of applications piled up at the Justice Department, high-profile criminals and their well-connected lawyers increasingly are appealing directly to President Bush for special consideration …

Citi, AIG Won't Drop Big Sports Sponsorships  —  Critics Slam Bailed-Out Firms' Pricey Deals for Naming Rights, Logo Placement  —  AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships …

Whistleblower: U.S. Snooped on Tony Blair, Iraqi President  —  Former Intercept Operator Tells ABC News He Saw Blair File, Heard “Pillow Talk” of Iraqi Leader  —  A former communications intercept operator says U.S. intelligence snooped on the private lives of two of America's most important allies …

Media Notes: An Interview With Outgoing White House Press Secretary Dana Perino  —  The network stars were gone, the seats half empty and the questioning low-key as Dana Perino held a White House briefing last week, her biggest announcement that the administration would try to ease air traffic for the holidays.

Vilsack ends ag secretary speculation  —  Washington, D.C. - Former Iowa Gov. Tom Vilsack on Sunday said that he won't be the next agriculture secretary, ending speculation that an Iowan would snag the post important to a large swath of the state's economy.  —  In an e-mail, Vilsack …

As Taboos Ease, Saudi Girl Group Dares to Rock  —  JIDDA, Saudi Arabia — They cannot perform in public.  They cannot pose for album cover photographs.  Even their jam sessions are secret, for fear of offending the religious authorities in this ultraconservative kingdom.

“Right” And “Left” And Obama  —  Shadi Hamid struggles with foreign policy labels: … One the worst legacies of the Vietnam boomer syndrome has been turning complex foreign policy decisions - which should ultimately be pragmatic actions in defense of national self-interest …