Israel Declares It Will Cease Fire; U.N. School Hit  —  JERUSALEM — Prime Minister Ehud Olmert of Israel announced late Saturday night that the Israeli military would begin a unilateral cease-fire in Gaza within hours while negotiations continued on how to stop the resupply of Hamas through smuggling from Egypt.

Obama Arrives in Washington After Train Trip  —  BALTIMORE — President-elect Barack Obama stepped onto a vintage train car, built at a time when a black man's ascendancy to the presidency was impossible in America, and traveled on Saturday to Washington in a three-day prelude to his inauguration as the nation's 44th president.

Poll Finds Faith in Obama, Mixed With Patience  —  President-elect Barack Obama is riding a powerful wave of optimism into the White House, with Americans confident he can turn the economy around but prepared to give him years to deal with the crush of problems he faces starting Tuesday …

Obama Announces “Organizing for America”  —  President-elect Barack Obama announced the formation of a new group known as “Organizing for America” that aims to continue the grassroots advocacy that the former Illinois Senator began in his presidential campaign.

Obama refuses to surrender Blackberry … Despite legal and security hurdles, president-elect Barack Obama says he has a plan to retain his beloved Blackberry once he moves into the White House next week.  —  Interviewed by CNN Friday, Obama said the smartphone was among the tools …

Our permanent state of routine emergency  —  With government, mission creep is the defining feature.  —  Recommend  —  In just about his last act as president, George W. Bush has declared Washington, D.C., a federal disaster area.  —  No, seriously.  I'm not setting up some lame-o punchline here …

Admit It: The Surge Worked  —  It's no longer a close call: President Bush was right about the surge.  According to Michael O'Hanlon and Jason Campbell of the Brookings Institution, the number of Iraqi war dead was 500 in November of 2008, compared with 3,475 in November of 2006.

The Growing Foreclosure Crisis  —  One oft-repeated assertion no longer holds true.  Those in trouble are not, primarily, lower-income borrowers.  The foreclosure crisis has become a wave, afflicting neighborhoods of every stripe — but particularly communities created by the boom itself.

Does Holder's “waterboarding is torture” comment implicitly commit him to prosecuting Bush administration officials?  Ever-hopeful observers say yes, but Holder's statement that waterboarding is torture is hardly news; his soon-to-be boss has said the same thing.  The chances of prosecution remain slim for diverse reasons.

Florida Fund Manager Missing; Clients Say Money Gone  —  Jan. 17 (Bloomberg) — Arthur Nadel, a hedge-fund manager in Sarasota, Florida, has disappeared and clients are concerned they may have lost hundreds of millions of dollars, according to law enforcement officials.

Bailout Is a Windfall to Bankers, if Not to Borrowers  —  At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of Wall Street analysts and explained how his bank intended to use its $300 million in federal bailout money.

How not to close the Gaza tunnels  —  I see that mothership Slate has an article by William Saletan on “how to close the Gaza tunnels.”  (Back in December, FP ran a photo essay on the tunnels that is still definitely worth checking out.)  —  Unfortunately, Saletan's piece should have been called “How not to close the Gaza tunnels.”