How the Fed Failed to Tell Obama About The Bonuses  —  Federal Reserve officials knew for months about bonuses at American International Group but failed to tell the Obama administration, according to government and company officials, exposing problems in a relationship that is vital to addressing the financial crisis.

Duke Coach to Obama: Worry About the Economy, Not NCAA Picks  —  Reacting to news Obama picked North Carolina to win the NCAA Championship, Mike Krzyzewski says, “the economy is something that [the president] should focus on, probably more than the brackets.”

EXCLUSIVE: Obama's $500,000 book bonanza  —  Deal reached 5 days before he took office  —  As he empathized with recession-weary Americans, President Obama arranged in the days just before he took office to secure a $500,000 advance for a children's book project, a disclosure report shows.

Detainees May Be Released in U.S.  —  WASHINGTON — Attorney General Eric Holder said some detainees being held at Guantanamo Bay, Cuba, may end up being released in the U.S. as the Obama administration works with foreign allies to resettle some of the prisoners.

Our Must-Win War  —  The ‘Minimalist’ Path Is Wrong for Afghanistan  —  Later this month, the Obama administration will unveil a new strategy for the war in Afghanistan.  This comes as most important indicators in Afghanistan are pointing in the wrong direction.

Fannie Plans Retention Bonuses As Outlined by the Government  —  Fannie Mae, the federally run mortgage finance giant, plans to pay four top executives $1 million or more in retention bonuses.  —  The bonus plan prompted the company's federal regulator to defend compensation decisions …

George W. Bush to write memoir about ‘decisions’  —  NEW YORK (AP) — Former President George W. Bush, who once famously called himself “The Decider,” is writing a book about decisions.  —  “I want people to understand the environment in which I was making decisions.

GOP hopes bonuses are election issue  —  Republicans are hoping to make the American International Group bonuses a major issue in the special election between Republican James Tedisco and Democrat Scott Murphy in New York's 20th District.  —  The National Republican Congressional Committee …

Julia Alasheyeva, Moscow  —  A picture has emerged apparently showing Russia's Prime Minister Vladimir Putin in his former days as a KGB officer.  —  The 20-year old photo depicts two world leaders - US President Ronald Reagan and the Soviet leader Mikhail Gorbachev - in Moscow.

On the Fed's “Shock and Awe”  —  When some deemed the Fed's move today to expand its balance sheet by as much as a trillion dollars plus as “shock and awe”, I recalled that when that term was first used, at the beginning of the US invasion of Iraq.  The notion was a display of superior force would lead to quick capitulation.

Citigroup Said to Commit $10 Million for New Executive Suite  —  Citigroup Inc. plans to spend about $10 million on new offices for Chief Executive Officer Vikram Pandit and his lieutenants, after the U.S. government injected $45 billion of cash into the bank.

RNC to report $5.1M in February fundraising  —  The Republican National Committee (RNC) will report raising $5.1 million during the month of February when reports are filed Friday with the Federal Election Commission.  —  The number is down slightly from the amount the party raised in January …

Leading climate scientist: 'democratic process isn't working'  —  Protest and direct action could be the only way to tackle soaring carbon emissions, a leading climate scientist has said.  —  James Hansen, a climate modeller with Nasa, told the Guardian today that corporate lobbying …

Dissecting the A.I.G. Bonus Contract  —  Washington is filled with outrage over the $165 million in bonuses given out by the American International Group.  Yet, as I said in my post on Tuesday, “Seven Sad Truths About A.I.G.,” the real concern over the insurance giant should be about the $170 billion …