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.”

13 firms receiving federal bailout owe back taxes  —  Featured Topics: - Barack Obama - Presidential Transition  —  WASHINGTON - At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.

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.

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.

Inside AIG-FP, Feeling the Public's Wrath  —  A solitary flat-screen television hangs on the back wall of the trading floor inside the headquarters of AIG Financial Products here.  Wednesday afternoon, the most-talked-about employees in America huddled around it to find out just how despised they have become.

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.

Audio comedy gold: Bozo the Vice President is looking out for you  —  The gaffetastic gift that keeps on giving.  —  In trying times, we can always count on Bozo the Vice President to provide some welcome comic relief.  Joe Biden was The Newshour on PBS last night in full swagger …

The Grievance Committee  —  Angry.  So very, very angry.  Unable to speak due to mega-anger washing over every pore and fiber of my being.  Anger is in.  (Hope's so ... January.)  —  I am extremely angry at Tim Geithner for being such a baby that he couldn't scare a bunch …

AND EVEN DUMBER: THE IMPERIAL DEFENSE BUDGET.  —  Stephen Walt has developed a list of “dumb” policy debates in the United States, the criteria for which run as follows: … Walt lists farm subsidies (which are foreign policy by virtue of their negative impact of international trade agreements, the Cuba embargo, and the War on Drugs.

Top brass disturbed by GOP stalling of Iraq ambassador  —  There's one as yet unremarked constituency increasingly disturbed by some Republican senators' efforts to block the confirmation of former North Korea envoy Christopher Hill to be the next U.S. ambassador to Iraq: the U.S. military.

Arlen Specter: I am a Republican  —  It is time for yet another update on the status of Sen. Arlen Specter.  —  The Pennsylvania senior senator is not considering running as an Independent, as had been “reported” earlier Wednesday in The Hill.  —  “To eliminate any doubt …

NO IDEAS, NO PLAN, NO NOTHING  —  Larry O'Donnell went to town this morning on Rep. Eric Cantor (R-VA).  The ostensible issue was whether Cantor was going to support Rep. Charlie Rangel's bill to tax the heck out the AIG bonuses when it comes up for a vote later today.

IDF in Gaza: Killing civilians, vandalism, and lax rules of engagement  —  During Operation Cast Lead, Israeli forces killed Palestinian civilians under permissive rules of engagement and intentionally destroyed their property, say soldiers who fought in the offensive.

The 100 People Who Are Changing America  —  It would be a luxury if the function of the list we present here were simply to shake ourselves out of complacency.  But, unfortunately, we are far beyond that.  With the election of Barack Obama and the deep hole that his predecessor left …

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 …

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.