Newt the Destroyer  —  Gingrich is now on a single-minded mission to detonate Mitt Romney's presidential prospects.  Will he blow up the GOP in the process?  —  Newt Gingrich has finally reached his destiny: destroyer of the GOP.  —  In a bitter and spiteful concession speech last night in Iowa …

After Iowa caucuses, GOP elites seek ‘consensus’ candidate  —  A group of movement conservatives has called an emergency meeting in Texas next weekend to find a “consensus” Republican presidential hopeful, POLITICO has learned.  —  “You and your spouse are cordially invited to a private meeting …

Winning Ugly, but Winning  —  I don't care if you call it a win or a tie.  In Iowa on Tuesday, Mitt Romney had a performance that looks ugly on the stat sheet , but which accomplished quite a bit when you consider it in its broader context.  —  The two most important things that Mr. Romney accomplished are as follows:

Perry stays in presidential race, says it 'wasn't a hard decision'  —  Gov. Rick Perry said today he will continue his presidential campaign despite a fifth-place showing in the Tuesday Iowa caucuses and serious questions about whether he can continue.  “I re-assessed,” Perry said as he left …

Newt won't congratulate Mitt on win  —  POLITICO's Ginger Gibson reports:

Morning Jay: What Iowa Tells Us About the State of the Race  —  Mitt Romney received eight more votes in the Iowa caucuses than Rick Santorum.  The media is spinning this as if it matters who actually receives more votes.  It really doesn't.  This is a battle for delegates — a long one.

AP sources: Obama bucks GOP, OKs consumer watchdog  —  WASHINGTON (AP) — In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog even though the Senate contends the move is inappropriate …

Reid backs Obama after using pro forma sessions to block Bush  —  Senate Majority Leader Harry Reid (D-Nev.), who previously held pro forma sessions to block recess appointments by President George W. Bush, said Wednesday he supported President Obama's decision to ignore those sessions to push through one of his key nominees.

Obama under strong pressure to break precedent on recess appointments  —  President Obama is under strong pressure from liberals to use his recess-appointment power during the congressional break, but doing so would break 20 years of precedent, putting him in a tough position.

Richard Cordray: Any Legislation Which Has Even “Incidental Effects on the Economy” is a “Valid Exercise of Congressional Authority”  —  President Obama announced today that he was going to take a new step in the expansion of executive authority by recess appointing a head …

America's Consumer Watchdog  —  Today the President will appoint Richard Cordray to lead the Consumer Financial Protection Bureau.  He has one important job: look out for the best interest of American consumers.  He'll work on behalf of millions of families across the nation to ensure they're …