al Qaeda No. 2 Insults Obama with a Racial Epithet

Bin Laden's deputy, Ayman al-Zawahri, (video and transcript below) is not only a murderer but a racist. He also doesn't know much about American history. He attacks Barack Obama, who has had his name mispronounced deliberately on many occasions to read Osama, and defends Malcolm X. Wasn't Malcolm X murdered by a Muslim?

Al-Qaida's No. 2 leader used a racial epithet to insult Barack Obama in a message posted Wednesday, describing the president-elect in demeaning terms that imply he does the bidding of whites.

The message appeared chiefly aimed at persuading Muslims and Arabs that Obama does not represent a change in U.S. policies. Ayman al-Zawahri said in the message, which appeared on militant Web sites, that Obama is "the direct opposite of honorable black Americans" like Malcolm X, the 1960s African-American rights leader.

In al-Qaida's first response to Obama's victory, al-Zawahri also called the president-elect — along with secretaries of state Colin Powell and Condoleezza Rice — "house negroes."

Speaking in Arabic, al-Zawahri uses the term "abeed al-beit," which literally translates as "house slaves." But al-Qaida supplied English subtitles of his speech that included the translation as "house negroes."

The message also includes old footage of speeches by Malcolm X in which he explains the term, saying black slaves who worked in their white masters' house were more servile than those who worked in the fields. Malcolm X used the term to criticize black leaders he accused of not standing up to whites.

In Washington, State Department spokesman Sean McCormack said the latest message was just "more despicable comments from a terrorist."

The 11-minute 23-second video features the audio message by al-Zawahri, who appears only in a still image, along with other images, including one of Obama wearing a Jewish skullcap as he meets with Jewish leaders. In his speech, al-Zawahri refers to a Nov. 5 U.S. airstrike attack in Afghanistan, meaning the video was made after that date.

Al-Zawahri said Obama's election has not changed American policies he said are aimed at oppressing Muslims and others.

Here is complete transcript of Zawahri diatribe.

Muslim brothers everywhere: Peace be upon you and the Mercy of Allah and His blessings. As for what comes after:

Barack Obama has won the presidency of the United States of America, and on this occasion, I would like to send several messages.

First, a message of congratulations to the Muslim Ummah on the American people's admission of defeat in Iraq. Although the evidence of America's defeat in Iraq appeared years ago, Bush and his administration continued to be stubborn and deny the brilliant midday sun. If Bush has achieved anything, it is in his transfer of America's disaster and predicament to his successor. But the American people, by electing Obama, declared its anxiety and apprehension about the future towards which the policy of the likes of Bush is leading it, and so it decided to support someone calling for withdrawal from Iraq.

The second of these messages is to the new president of the United States. I tell him: you have reached the position of president, and a heavy legacy of failure and crimes awaits you. A failure in Iraq to which you have admitted, and a failure in Afghanistan to which the commanders of your army have admitted. The other thing to which I want to bring your attention is that what you've announced about how you're going to reach an understanding with Iran and pull your troops out of Iraq to send them to Afghanistan is a policy which was destined for failure before it was born. It appears that you don't know anything about the Muslim Ummah and its history, and the fate of the traitors who cooperated with the invaders against it, and don't know anything about the history of Afghanistan and its free and defiant Muslim people. And if you still want to be stubborn about America's failure in Afghanistan, then remember the fate of Bush and Pervez Musharraf, and the fate of the Soviets and British before them. And be aware that the dogs of Afghanistan have found the flesh of your soldiers to be delicious, so send thousands after thousands to them.

Depression Watch: October Wholesale Prices Plunge Record 2.8 Percent

This is catastrophic news. We're sinking. And it's clear the politicians are clueless as to what to do. Barack Obama is busy picking his cabinet when he should speaking to the American people and telling them what he will do. This "there is only one President" nonsense sounds good but does nothing to solve the crisis. He needs to act NOW. He needs to give his "you have nothing to fear but fear itself" now, not wait until his inauguration.

As for the media, it needs to give us nonstop reporting on the disaster on our hands. As I speak the news is about what the Democrats will be doing about Senator Lieberman. Who cares? We have a 9-11 type tragedy here. Why aren't we acting accordingly.

Wholesale prices drop is the worst since records began being kept!!

Wholesale prices plunged a record amount in October as energy prices fell by the largest amount in 22 years.

The Labor Department says wholesale prices dropped by 2.8 percent in October, the biggest one-month decline on records that go back more than 60 years. The previous record holder was a 1.6 percent fall in October 2001, the month after the terrorist attacks.

The overall decline in the department's Producer Price Index was bigger than the 1.8 percent drop analysts had expected. However, core inflation, which excludes energy and food, was not as well-behaved, rising by a bigger-than-expected 0.4 percent.

You say this is not such bad news since it means primarily a drop in energy prices. Then look at production.

U.S. industrial production rose more than forecast in October as refineries and oil rigs restarted operations in the Gulf of Mexico following shutdowns caused by Hurricanes Gustav and Ike.

The 1.3 percent increase in production at factories, mines and utilities followed a revised 3.7 percent drop in September that was the biggest since 1946, the Federal Reserve said today. Excluding the effect of the storms and a strike at Boeing Co., output would have shrunk about 0.7 percent in October and September, the Fed said.

The deepening credit crisis coupled with weakening global demand is forcing companies to cut back on investments for heavy machinery and manufactured goods. Today's report showed output of automobiles, computers, furniture and metals all dropped.

``Manufacturing is going south in a very big way,'' said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York. ``Export demand is falling apart, and domestic demand has already fallen apart.''

The reality is that the economy is collapsing on all fronts. Such massive drops are not good for the economy. It creates more fear and less incentive to invest by the private sector.

The greatest victims of the greed of big business, and the failure of government to curb their abuses, are the people:

USDA reported today that 36.2 million Americans, including 12.4 million children, are food insecure. The Study paints a stark picture of the pervasiveness of hunger in our nation. But Feeding America, the nation's leading hunger-relief organization, warns that the actual number of Americans forced to skip meals and survive without adequate nutrition is even greater today, prompting a national appeal for help in feeding hungry men, women and children.

"It is important to note that the USDA numbers released today are 2007 figures and do not take into account the unprecedented economic crisis that our country is currently facing," said Vicki Escarra, president and CEO of Feeding America. "While the numbers reported are tragic, our network typically experiences trends as direct service providers before they are officially reported. We believe that this is just the beginning of a downward trend and we expect things to get worse before they get better."

Why Obama will Regret Picking Hillary Secretary of State

It seems that the selection of Hillary Clinton Secretary of State is a fait accompli. But at least the new President can't claim that he wasn't warned. You'll regret it. This will probably be Barack Obama's first and possibly worst mistake as President.

This from Ken Silverstein of Harper's Magazine:

1. Hillary Clinton will have her own agenda (as will her husband). She’s not a team player and will bring in a crew of cronies whose chief aim will be to promote the boss, not the administration. Obama may wake up one day and discover that Hillary has decreed a new “Clinton Doctrine” of foreign policy.

2. It would be impossible, politically, to fire Hillary. No matter what she says or does, or how insubordinate, Obama will be stuck with her as long as she wants to stay.

3. Her husband is a walking conflict of interest. Bill helps a Canadian businessman land a uranium contract in Kazakhstan, and soon afterwards the businessman contributes to the Clinton Foundation. Bill’s personal and business dealings are embarrassing enough without Hillary heading the State Department.

4. The Clinton style of management–for example, pitting one faction of staff against another–would be a disaster at the State Department. Just look at how well it worked on the campaign trail.

This from the controversial British intellectual, Christopher Hitchens, who doesn't pull punches or attacks the left and right:

Listen to Dick Morris--he knows the Clintons. And he is a FOX News analyst. Why would he be ridiculing the choice:

Hopefully, it's just a rumor started by the Clintonistas, but is Barack Obama seriously considering appointing Hillary Clinton as his secretary of state? If he pulls the trigger on that appointment, he will deserve what he gets.

[...]So when Clinton faced a Democratic Congress on taking office, he could not count on their support. Neither can Obama. So Clinton had to toe the liberal line in order to round up the votes he needed to pass his programs in the Congress that was nominally under his control. So will Obama. Ultimately, Clinton became the hostage of the Democratic majority in Congress, and they became his jailer. He was forced so far to the left that he told me, in 1994 (after losing the congressional elections), "I was so far to the left I didn't recognize myself." Neither will Obama.

Why would a top Republican support the idea if it didn't benefit his party. They support the idea for the same reason Republicans wanted Hillary to be the Democratic party's presidential candidate: she is a polarizing figure, and the Clintons are easy targets:

"It seems to me she's got the experience. She's got the temperament for it. I think she would be well received around the world," said Sen. Jon Kyl, R-Ariz. "So my own initial reaction is it would be a very good selection."

Here's another Conservatives take on the idea:

Far from becoming a loyal soldier in Obama's ranks, ready to do his will even at the risk of her own popularity, she would be absolutely bound to view every action she took as his secretary of state in the light of her own perceived necessities as a future presidential candidate.

What's more, her own large group of political supporters and managers will remain in existence, ready and eager to promote her interests, even at the risk of damaging Obama's. The media would be awash with anonymous stories describing her differences with the president, and recounting her allegedly desperate efforts to prevent or rectify his "mistakes." Clinton herself would not be the source of these stories, and might even sincerely deplore them; but they would emerge from her huge coterie of supporters and be designed to make her look good -- certainly better than Obama.

U.S. Recession will Last 14 Months: Fed Survey

Reuters:

Private-sector economists believe the U.S. economy fell into recession last spring and now expect a sharp contraction in the fourth quarter of this year after slashing their forecasts for gross domestic product, a Federal Reserve Bank of Philadelphia survey said on Monday.

More very bad news:

Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

The plans, posted on the company's Web site, are being discussed by CEO Vikram Pandit at the company's town hall meeting in New York Monday with employees.

The company said total headcount is being reduced by 20 percent from its peak of 375,000 at the end of 2007; the company had already announced in October that it was eliminating about 22,000 jobs from those levels. The total workforce reductions include thousands of jobs that will be lost when Citigroup completes the sale of Citi Global Services and its German retail banking business.

The New York-based bank has posted four straight quarterly losses, including a loss of $2.8 billion during the third quarter. The company said that in addition to job cuts, it plans to lower expenses by about 20 percent, and that is has reduced its assets by more than 20 percent since the first quarter of the year.

Citi shares fell 42 cents, or 4.4 percent, to $9.10 in morning trading. The company's shares have been trading at 13-year lows.

And now it is impacting State governments. Which means the cutting essential services like police, education, roads, bridges, transportation, etc., etc.

Two short months ago lawmakers in California struggled to close a $15 billion hole in the state budget. It was among the biggest deficits in state history. Now the state faces an additional $11 billion shortfall and may be unable to pay its bills this spring.

The astonishing decline in revenues is without modern precedent here, but California is hardly alone. A majority of states — many with budgets already full of deep cuts and dependent on raiding rainy-day funds or tax increases — are scrambling to find ways to get through the rest of the year without hacking apart vital services or raising taxes.

Some governors, including Arnold Schwarzenegger in California and David A. Paterson in New York, have called special legislative sessions to deal with the crisis.

Others are demanding hiring freezes and across-the-board cuts. A few states are finding their unemployment insurance funds running dry, just as the ranks of out-of-work residents spike.

The plunging revenues — the result of an unusual assemblage of personal, sales, capital gains and corporate taxes falling significantly — have poked holes in budgets that are just weeks and months old and that came about only after difficult legislative sessions.

“The fiscal landscape,” said H. D. Palmer, a spokesman for the California Department of Finance, “is fundamentally altered from where it was six weeks ago.”

In Michigan, to reduce overtime costs, fewer streets will be salted this winter. In Ohio, where the unemployment rate is above 7 percent, the state may need a federal loan for the first time in 26 years to cover unemployment costs. In Nevada, which is almost totally dependent on sales taxes and gambling revenues, a health administrator said the state may be unable to pay claims in a few months.

Hollywood Out Of Step With American Morals: Poll

Huffington Post:

A majority of Americans say Hollywood doesn't share their moral values, according to a poll commissioned by the Anti-Defamation League, a group that fights anti-Semitism.

Sixty-one percent of those surveyed said that religious values in America are "under attack," and 59% agreed that "the people who run the TV networks and the major movie studios do not share the religious and moral values of most Americans."

President Obama on 60 Minutes: Transcript (11-16-08)

Read the complete transcript.

Kroft: Has this been easier than the campaign trail?

Mr. Obama: Well, it's different. I think that during the campaign it is just a constant frenetic, forward momentum. Here, I'm stationary. But the issues come to you. And we've got a lot of work to do. We've got a lot of problems, a lot of big challenges.

Kroft: Have there been moments when you've said, 'What did I get myself into?'

Mr. Obama: Surprisingly enough, I feel right now that I'm doing what I should be doing. That gives me a certain sense of calm. I will say that the challenges that we're confronting are enormous. And they're multiple. And so there are times during the course of a given a day where you think, 'Where do I start?'

Kroft: What have you been concentrating on this week?

Mr. Obama: Couple of things. Number one, I think it's important to get a national security team in place because transition periods are potentially times of vulnerability to a terrorist attack. We wanna make sure that there is as seamless a transition on national security as possible. Obviously the economy. Talking to top economic advisors about how we're gonna create jobs, how we get the economy back on track and what do we do in terms of some long-term issues like energy and healthcare. And how do we sequence those things in a way that we can actually get things through Congress?

Kroft: Are you in sync with Secretary Paulson in terms of how the $700 billion is being used?

Mr. Obama: Well, look, Hank Paulson has worked tirelessly under some very difficult circumstances. We've got an unprecedented crisis, or at least something that we have not seen since the Great Depression. And I think Hank would be the first one to acknowledge that probably not everything that's been done has worked the way he had hoped it would work. But I'm less interested in looking backwards than I am in looking forwards.

Kroft: The government has spent almost $300 billion out of the TARP program.

Mr. Obama: Right.

Kroft: Money that was set aside to help the financial industry. And nothing much has changed if you look at it. Nothing much has changed. It’s $300 billion. Why is that?

Mr. Obama: I think the part of the way to think about it is things could be worse. I mean, we could have seen a lot more bank failures over the last several months. We could have seen an even more rapid deterioration of the economy, even a bigger drop in the stock market. So part of what we have to measure against is what didn't happen and not just what has happened.

Having said that, there's no doubt that we have not been able yet to reset the confidence in the financial markets and in the consumer markets and among businesses that allow the economy to move forward in a strong way. And my job as president is gonna be to make sure that we restore that confidence.

(CBS) Kroft: Once you become president, are there things that you'll change?

Mr. Obama: Well, you know I think we still have to see how this thing unfolds over the next couple of months. One area that I'm concerned about, and I've said this publicly, is we have not focused on foreclosures and what's happening to homeowners as much as I would like. We have the tools to do it. We've gotta set up a negotiation between banks and borrowers so that people can stay in their homes. That is gonna have an impact on the economy as a whole. And, you know, one thing I'm determined is that if we don't have a clear focused program for homeowners by the time I take office, we will after I take office.

Kroft: Are you being consulted by Secretary Paulson?
Is he telling you what's going on?

Mr. Obama: You know what we've done is we've assigned somebody on my transition team who interacts with him on a daily basis. And, you know, we are getting the information that's required to and we're making suggestions in some circumstances about how we think they might approach some of these problems.

Republican Governor Jindal: Something Is Wrong With The GOP

Duuuuh! Jindal appearing on Face The Nation (read the complete transcript):

JINDAL: Bob, well, thank you for having me this morning. Clearly, first of all, we need to congratulate President-elect Obama. I think Senator McCain was very gracious on election night. As Republicans, we need to do three things to get back on track. Number one, we have got to stop defending the kind of spending and out-of- control spending that we would never tolerate in the other side. You know, when voters tell us that they trust Democrats more to cut their taxes, control spending, that tells you something is wrong with the Republican Party. We’ve got to match our actions with our rhetoric.

Number two, we’ve got to stop defending the kinds of corruption we would rightfully criticize in the other party. The week before the election, our most senior senator is convicted on federal charges. And that’s only the latest example.

Number three, we have got to be the party that offers real solutions to the problems that American voters, American families are worried about. We don’t need to abandon our conservative principles. We can’t just be the party of no. We need to offer real solutions on making health care more affordable, on the economic challenges facing families, on the international threats.

I think we’re going to have a debate in this country. I’m opposed to a single-payer, government-run health care system. But that’s not enough. We need to also show the American people that we’re for tax credits, we’re for using technology to emphasize preventative primary care, electronic patient records, so every American has access to affordable private coverage.

Jindal gets it. But I don't think Gingrich does:

GINGRICH: No, you know what the number one issue was this fall?

The number one issue this fall was that the Bush administration had failed, OK, and that the Republicans in the House and Senate had failed.

GINGRICH: This was a performance election. You are a 20-, 25-, 30-year-old person and you look at this mess and you say, gosh, do I like this attractive, new, articulate candidate named Obama who is for change we can depend on, or do I want to vote for the party that’s just been failing?

Now, I think we have temporarily a big problem. I think if President-elect Obama is brilliant and committed and lucky, he might well consolidate that vote.

On the other hand, if they watch what you just said in the first half of this show and you end up with Congress bailing out billions to failing companies, and those 20-year-olds and 30-year-olds start to figure out they’re going to pay the taxes, they’re not getting the billions, I think you might find a lot of dissatisfaction by next summer.

Then again, what's wrong with the Democrats. They can't even deal with one of their own who tried to destroy the Democratic nominee, Barack Obama, during the just finished election. This from 'FOX News Sunday'(read the complete transcript):

Senator Dorgan, you have to deal — you and the Senate Democrats have to deal on Tuesday at your House — rather, Senate Democratic Caucus about what to do about Joe Lieberman and whether or not you are going to strip him of his chairmanship of the Homeland Security Committee.

Back in September, you said that Democrats were, quote, "profoundly disappointed" with what he had done and his strong support for McCain over Obama in the election, the fact that he made a tough speech at the Republican convention.

Are you going to vote to strip him of his chairmanship?

DORGAN: Well, I'm not going to discuss — and the — our caucus won't discuss that on television programs. What I think will happen on Tuesday is Senator Lieberman will, I think, make a presentation to the caucus, and the caucus will by secret ballot decide what we might want to do.

And you know, look. Joe is a friend of mine. Joe sits next to me in the Senate. He sits at the desk to my right. He's a good American.

Meet The Press Debate on the Auto Industry Bailout Plan

Should the government "bailout" the auto industry? That's biggest debate going on in Washington. Did the car companies in Michigan bring upon themselves the current crisis, or are they just victims of the downturn like in every other sector of the economy?

Some politicians like Senator Shelby have opposed most of the bailouts:

I haven't seen them yet, Tom. I would--first of all, I think that we would have to see conditions that would fundamentally change the way Detroit does business. They're not building the right products. They did at one time. They've got good workers. But I don't believe they've got good management. They don't innovate. They're a dinosaur, in a sense, and I hate to see this because I would like to see them become lean and, and hungry and innovative. And if they did and put out the right product, they could survive. But I don't believe the $25 billion they're talking about will, will make them survive. It's just postponing the inevitable.

The Senator from Alabama is a bit of hypocrite. How does a member of Congress, that is running historic deficit, talk about "lean"? There are others whom have been pawns of the auto industry, like Senator Carl Levin of Michigan:

Well, this is a national problem, first of all, without any question. We've got at least three million jobs dependent upon this industry surviving. We've got--this is a Main Street problem. We've got 10,000 or more dealers. They, they cover the country in every town of this country. The auto industry touches millions and millions of lives. One out of 10 jobs in this country are auto related. Twenty percent of our retail sales are auto related or automobiles. So this is a national problem.

Secondly, there is, unlike some of the statements that you read, there is bipartisan support for support for this industry to get them through a very difficult problem, including Senator Voinovich of Ohio who is co-chairman of the task force that you made reference to. Other countries are supporting their industries through this difficult period. The European automakers are requesting $56 billion in temporary support, and we expect that they'll be getting it from the European community. This is not a Big Three problem alone. This current crisis is a crisis in the economy where there is no credit available to purchase and where people are not buying cars because they are afraid. They are delaying the major purchases that they need to make because of the uncertainly in the economy. So this is a...

Brokaw nails Levin:

Senator Levin, let me just read to you something that Tom Friedman wrote in The New York Times last week. "The blame for this travesty not only belongs to the auto executives, but must be shared with the entire Michigan delegation in the House and Senate, virtually all of them, year after year, voted however Detroit automakers and unions instructed them to vote. That shielded GM, Ford and Chrysler from environmental concerns, mileage concerns and the full impact of global competition that could have forced Detroit to adapt a long time ago."

At a time when Toyota was producing the Prius and Honda, much more gas-friendly cars, GM, in fact, was turning out the Cadillac Escalade, the Hummers and other big SUVs that were eating a lot of gasoline when a lot of people were raising flags.

Shelby makes a good point on bailing out the inefficient auto industry:

[...]if we let the money go to General Motors, for example, with the same management, the same ideas, it's money wasted. Mark it down and watch it, and it'll be more money. This is just the beginning of, of corporate welfare in a big, big way.

But it's been done before:

SEN. LEVIN: It's not the beginning, Tom. We've done this before. We--we've--we supported Chrysler when it was in this kind of difficulty. People said, "Oh my God, that's corporate welfare." We made money, actually, by supporting Chrysler. We did it with the airline industries in, in 2001. The airline industry was in real trouble. The government came to its support. We've done this in a number of industries; this is not unprecedented. The issue's whether we're going to have manufacturing in America or whether we're going to see the continuation of the loss of millions of jobs overseas.

But allowing them to go into bankruptcy is no solution either:

MR. BROKAW: Let me just ask you both about bankruptcy. Here's from The New York Times, Michelle Maynard writing on Thursday. "A bankruptcy filing by a single Detroit car company could cost the economy $175 billion in the first year of the legal case in lost employee income and tax revenue, the Center for Automotive Research estimated this week. Given the complexity, a GM bankruptcy case could last three years or more.

And, Senator Shelby, 80 percent of car buyers who were questioned said they would not buy a car from a company in bankruptcy because it's a long-term investment, it's not like an airline, it's something that they would have to depend on to get parts and service.

- Read the complete Meet The Press transcript

Choosing Clinton for Secretary of State Would be a Mistake?

President Obama is obviously trying to appease the whining Hillary Clinton supporters by seriously considering her for Secretary of State? He might also be trying to prevent a potential adversary in 2012. Either way it is a serious mistake. The Clintons cannot be trusted. They are crooked to the core. It was they whom used race and anti-Muslim rhetoric to try and defeat Obama is the primaries. What will be Bill's role in all this? The primaries showed that the former president is all about himself. He will most certainly say things in the next 4 years that will embarrass the administration, if not compromise it. Bill Clinton's dirty business dealings will eventually come to light and cause a major scandal. It will also give Republicans an easy target. The Clintons are a favor of the right wing. There will be all kinds of conspiracy theories about the deals made by Barack Obama and Hillary Clinton. President Obama will disappoint many of his supporters who believed he would be break from the corrupt past.

He are some other perspectives:

NY Times take:

Still, the fact that Mr. Obama and Mrs. Clinton had even met to discuss such a possibility left even some of their closest advisers and allies talking about the pros and cons of so close a partnership, and about how it would be complicated by a third wheel: Mrs. Clinton’s globe-trotting husband, former President Bill Clinton.

[...]That said, there are clear dangers for Mr. Obama as well, not least of them any lingering rivalry between the two of them after an often-contentious primary campaign. The drama-averse president-elect would also inevitably be sharing the stage with both Clintons, with all of the attention and baggage that accompany them wherever they go. And her appointment could undercut his argument that he is bringing true change to Washington.

It is not clear what room Mrs. Clinton’s presence as the nation’s top diplomat would leave for Vice President-elect Joseph R. Biden Jr. to be an influential player in his specialty of foreign policy. And now that his consideration of Mrs. Clinton has become so public, he faces another danger: the risk of reopening old wounds in the party and among Democratic women in particular if he does not appoint her to a top job.

[...]One potential downside for Mrs. Clinton taking a top job in the cabinet: she would presumably have to disclose much more about Mr. Clinton’s earnings, especially from foreign sources, and donors to his presidential library than they have been willing to disclose so far.

The Provocateur:

First of all, Hillary Clinton, unfortunately, comes as a package deal with her husband and ex President, Bill Clinton. If the new President wants to assure a dysfunctional Presidency allow the ex President to have a seat at the table of advisors. More than that, the ex President has been an awfully naughty boy since leaving the White House. This is an entirely different sort of naughty than his exploits in the White House. He has befriended all sorts of wily characters throughout the Middle East and even in China since leaving the White House. We still have no idea who exactly donated to the Clinton Library.

If, after all the lurid details of Bill's post Presidential life come out, Hillary is actually confirmed, then we will be spending the next four years or so analyzing whether or not each and every move she makes as Secretary of State was a payback to some befriended Middle East Shiek. Does President Obama really want his foreign policy to be viewed as some sort of a lackey for the UAE? If that is his goal, a good way to accomplish that is to pick Hillary Clinton as his Secretary of State.

Also, President Elect Obama, fooling the folks into thinking you are experienced doesn't actually mean you are. Hillary Clinton spent Bill's years having tea and cake with the wives of dignitaries. Her foreign policy experience is slightly more "impressive" than yours. During a campaign, you might be able to fool the folks, but once you govern, reality sets in. Hillary Clinton is no foreign policy heavyweight, she's a foreign policy lightweight in sheep's clothing. On top of this, she derided your entire foreign policy platform. She called your idea of meeting unconditionally with foreign dictators "naive". Are you really willing to cede your political opponents fodder with uncomfortable press conferences as your Secretary of State is forced to defend you against her own words?

Senators Question Bankers About Hoarding Taxpayer Dollars

Are the banks using the government bailout money to pay bonuses to executives, hoarding it, rather than making loans to homeowners, which is what was expected when the tax dollars were distributed?

Some of the nation's largest banks sharing in the $700 billion government bailout of the financial industry tried to assure lawmakers Thursday they are using the money to make more loans and help financially strapped homeowners avoid foreclosure.

Barry L. Zubrow, chief risk officer with JP Morgan Chase & Co., told the Senate Banking Committee that a portion of the $25 billion capital infusion it received from the Treasury Department was being deployed to "expand the flow of credit" and to assist with rewriting residential mortgages for up to 400,000 families.

Zubrow and executives with Goldman Sachs Group Inc., Bank of America Corp. and Wells Fargo & Co. told the committee that none of the $75 billion they have received collectively from the government is being used to pay salaries or bonuses.

"The committee has asked whether (bailout) funds would be spent on executive compensation," said Jon Campbell, regional banking president for Wells Fargo & Co. in his testimony. "The answer is no. Wells Fargo doesn't need the government investment to pay for bonuses or compensation."

Some of the executives said bonuses this year will be lower because of the economic downturn.

"Employee compensation will be dramatically affected by changes in the overall economic and financial environment and our performance for the full year, but it certainly will not increase as a result of receiving TARP (Troubled Asset Relief Program) funds," said Gregory Palm, general counsel for Goldman Sachs.

Bank of America's board has decided that this year's bonus compensation pool will be reduced by more than 50 percent, Anne Finucane, a marketing and corporate affairs executive, told the committee.

Where is the money going?

The US government has staged a U-turn on its plans for bailing out the country's financial system, saying that it no longer intends to buy the toxic mortgage assets at the heart of the credit crisis.

The announcement came less than six weeks after the Treasury won a gruelling battle with Congress for the authority to conduct the purchases. Hank Paulson, Treasury secretary, said that the remainder of the $700bn bail-out fund will instead be used to buy more direct stakes in banks and other financial firms.

As he spoke, the Federal Reserve and other banking regulators made an unprecedented joint statement urging banks to use money already received from the government to issue new loans, rather than hoarding the cash to pay dividends and staff bonuses.

The change of plan reflected the speed with which the credit crisis has overwhelmed government efforts to restore order to debt markets. They continue to be gummed up in a way that is starving businesses and consumers of loans and are throttling the US economy.

Mr Paulson's new statement did little to reassure markets, which remain confused over the scope and ultimate effectiveness of government intervention. "I will never apologise for changing an approach or a strategy when the facts change," he said. "During the two weeks that Congress considered the legislation, market conditions worsened considerably. It was clear to me by the time the bill was signed on 3 October that we needed to act quickly and forcefully, and that purchasing troubled assets – our initial focus – would take time to implement and would not be sufficient given the severity of the problem."

The Treasury's original plan was based on the assumption that removing toxic mortgage assets from banks' balance sheets would finally establish how much they were worth, thereby restoring confidence and enabling companies to raise private money. But Mr Paulson said the Treasury would spend an initial $250bn buying direct stakes in banks before it turned to the mortgage purchases. Economists had argued that directly recapitalising the banks was more efficient, because institutions could leverage the new money to make many times that amount in new loans.

Finucane said Bank of America originated more than $50 billion in mortgage loans in the third quarter of 2008 but acknowledged that "we are lending less than we were a year ago."

Palin on the Larry King Show: Transcript (11-12-08)

Sarah Palin was interviewed on the 'Larry King Live' show yesterday(11-12-08). Read the complete transcript.

KING: All right. Our new CNN Opinion Research Corporation poll shows that 49 per cent of adult Americans have a favorable feeling about you, 43 percent an unfavorable. In retrospect, do you think you might have hurt the ticket?

PALIN: If I hurt the ticket at all, and cost John McCain even one vote, I am sorry about it because John McCain is a true American hero, he's got great solutions in terms of the challenges that are facing America right now with national security and needing to get our economy back on the right track. John McCain has solutions. I look forward to seeing him as a leader in the Senate, reaching out to Barack Obama and the new administration, being able to work together with the solutions that he has. Again, sorry if I cost him any votes, if I did.

KING: But you, you don't have an opinion as to whether you did or didn't?

PALIN: I personally don't think that I, Sarah Palin from Alaska, the VP pick, I don't believe that I caused the outcome to be what it was. I think the economy tanking a couple of months ago had a lot more to do with it than the VP pick. But I think too not winning the Hispanic vote and being outspent so tremendously in this campaign, John McCain had fulfilled his promise in just keeping with the public financing of the campaign and Barack Obama went on to accept the private donations and contributions that allowed us to be very, very greatly outspent.

There were a lot of contributing factors. I'm not going to point the finger right back at me and say that I was the cause of the outcome, but there were a lot of contributing factors. But again, if I caused even one person to shy away from electing an American hero, John McCain, to the presidency, than I apologize.

KING: Do you -- what role do you think you have in the party? You're at the Governors Association Convention, the Republican governors. How do you see yourself down the road?

PALIN: Every Republican governor has a tremendous role to play in making sure that Americans understand that -- what it is that we do out there on the front lines, balancing multibillion dollar budgets and dealing with tens of thousands of employees in our organizations. The executive experience that we all have as governors needs to be put to good use in helping in the new administration, reaching out to Barack Obama, in order to progress this nation and find solutions to the many challenges that we face. Every Republican governor has much to contribute.

KING: But your own role --

PALIN: Well, I'm one of them. I am one of them, desiring to reach out and assist the new administration that has recently been elected. What I can do specifically in helping our nation become energy independent, of course, comes from my experience as an oil and gas regulator in a huge energy-producing state. And now as governor of that state, we know that we have the domestic solutions and the domestic supplies of energy. And we have the American ingenuity and we have the American workers ready to be put to use to allow our nation to become less dependent on foreign sources of energy, volatile foreign regimes that control too much of our energy supply and use energy as a weapon.

We need to get away from that and domestic solutions that are at our fingertips. I want to help lead in that area. Also, what I can do as a Republican governor is do all that I can in my state and hopefully in the nation also in helping our families who have children with special needs.

It's an issue near and dear to my heart. It resonated well throughout the campaign also, Americans recognizing that this is time that our families who have children and adults with special needs, that America shows its good heart to them also. And we start cherishing every life, I want to help in that arena also.

Bush Expresses Regrets in CNN Interview: Transcript (11-11-08)

The outgoing President talks about his regrets in interview with CNN. Read the complete Transcript. Excerpt below:

President Bush: Being the commander in chief is as high an honor as you can possibly imagine and I have given it my all to support our military and to support our veterans. What does that mean? It means going to Congress and saying let's make sure our military families have good housing, health care, educational benefits. It means helping to work with the Congress to get money for our veterans, but it really means saying to our troops, "I will make decisions based on what is best for our country, not what is best for me politically." I don't want your troops thinking that the decisions I have made were about politics or about my standing. The decisions were made how to secure this country, how to protect ourselves from the long run. And that was important for those troops to know that their commander in chief not only supported them but stood with them in their mission

CNN: As you stand with them in their mission there are two months left of your presidency. How will that feel to leave office in the middle of two wars? Video Watch Bush discuss his regrets »

Bush: I'm trying to figure it out because there's a lot going on. We've got an economic situation, the campaign just ended, we still have troops in harm's way. I'll be meeting with families of the fallen today. This job will end on January 20 and so this is a better question answered on the 21st. I'm not sure what to tell you because I know I'm going to go from 100 mph to near zero overnight. I'm not sure what to expect. I know I'll miss certain things about the presidency. I also know I'm looking forward to getting home, so I've got mixed emotions.

CNN: What will you tell -- and maybe you talked about this yesterday with President-elect Obama -- about taking care of America's veterans and active servicemen and women?

Bush: To the extent that he asked my advice -- and he may want to ask it again -- and the best way to make sure he feels comfortable asking it again is for me not to tell you in the first place on what I advised him. We had a very private conversation. It was relaxed. It was interesting to watch someone that is getting ready to assume the office of the president. It will be a fantastic experience for he and his family. He didn't need my advice about supporting the military. He knows he must do that. We had a good conversation. I was very pleased. Remember the conversation I had with my predecessor Bill Clinton, as a matter of fact called him yesterday and said, Bill, I'm getting ready to meet with the new president and I remember how gracious you were to me. I hope I can be as gracious to President-elect Obama as you were to me. It was interesting yesterday. One of the things President-elect Obama was interested in, after we had our policy discussions, was his little girls, how would they like the White House. It was interesting to watch him go upstairs. He wanted to see where his little girls were going to sleep. Clearly this guy is going to bring a sense of family to the White House and I hope Laura and I did the same thing, but I believe he will and I know his girls are on his mind and he wants to make sure that first and foremost he is a good dad. And I think that's going to be an important part of his presidency.

McCain on Jay Leno: Transcript, Video (11-11-08)

John McCain appeared on the 'Tonight Show' yesterday. Read the complete transcript (excerpt below).
Part1


Part 2

Part 3


Excerpt:

Jay Leno: It's been a week since the election. How are you doing?

Senator John McCain: Well, I've been sleeping like a baby. (Laughter.) Sleep two hours, wake up and cry. Sleep two hours, wake up and cry. (Laughter.)

Jay Leno: Well, how --

Senator John McCain: I gotta tell you one quick story about Arizona. As you know, the great state of Arizona I've had the honor to represent. And we have a problem in Arizona. It's really kind of a sad thing, because Barry Goldwater from Arizona ran for President of the United States. Morris Udolf (sp.) from Arizona ran for President of the United States. Bruce Babbitt from Arizona ran for President of the 1 United States. I, twice. Arizona may be the only state in America where mothers don't tell their children that some day they can grow up and be President of the United States. (Laughter.) I mean, that's a sad story.

Jay Leno: How about your wife Cindy? How is she taking it? Because sometimes --

Senator John McCain: Yeah, it's tough. It's tougher always on the family members. But she's doing fine. She's doing very fine. Thanks for having her and Meghan on the show. Appreciate it.

Jay Leno: They were great guests.

Senator John McCain: Thank you. And I'm glad to be back for my 14th time. I'm happy to be on.

Jay Leno: The day after the election, it was so weird. I turn on the TV, and I see you coming out of your house or apartment. You get in your car, and you drive somewhere by yourself.

Senator John McCain: Yeah. To get a cup of coffee, yeah. I didn't have a single accident.

Jay Leno: I mean --

Senator John McCain: Maybe one.

Jay Leno: What was that like to suddenly be surrounded -- "He's coming down the hall. Remove" -- and then suddenly -- I mean --

Senator John McCain: Well, secret service people, despite the idiot you talked about tonight, they're wonderful people. They're brave. They serve the country. They're just really the best of America. But it is a bit confining, you know. So I'm able to -- 2

Jay Leno: So what did you do that first day? Where were you driving when you --

Senator John McCain: Went down to get a cup of coffee. Cindy and I went down to get a cup of coffee and -- not the newspaper. I knew what it was going to say. (Laughter.)

Jay Leno: And you went up to the mountains too?

Senator John McCain: Yeah, went up to our place near Sedona and had a very nice time.

Jay Leno: Now, which house is that? Number 12?

Senator John McCain: You know what? That's -- let's see. 27.

Jay Leno: 27.

Senator John McCain: But we're -- you know, look, it's a great honor. It's a great privilege. It's an incredible thing that I was able to do. And I saluted, as you know, and admire and respect the winner, Senator -- President elect Barack Obama.

Jay Leno: Actually, to me, that was, I thought, a nice moment when you were talking somewhere. In the campaign when I saw ugly things going back and forth and a woman said, "Well, Barack Obama, he's an Arab or a terrorist," and you stopped and you said, "No, he's a good man and he's a family man."

Senator John McCain: Yeah, a good and decent person.

Jay Leno: And I like that. I thought that was quite impressive.

Senator John McCain: Well, you've got to have a respectful campaign. And that doesn't mean it isn't tough. I mean, campaigns are tough, and they should be because you're seeking the most important position 3 in the world. But there's a difference between being tough and being personal or angry. And look, America right now -- I don't have to tell you -- I don't have to tell anybody out here, especially those members of the military -- that we're in two wars. We've got housing problems. We've got economic crisis. We've got all these problems. Now it's time for America to join together and support the man who was just elected President.

"Afghan Insurgency Stronger Than Ever"

Video and Article from CBS:

The war President-elect Barack Obama is inheriting in Afghanistan includes an insurgency that's stronger than ever.

And it's creeping ever-closer to the Afghan capital.

In a video obtained by CBS News, a U.S. convoy is attacked less than 20 miles from Kabul.

"I think in Afghanistan, we really dropped the ball for a long time," said Karin von Hippel of the Centre for Strategic and International Studies.

It's now widely agreed America's new president needs a new approach, CBS News cheif foreign affairs correspondent Lara Logan reports.

President-elect Obama's emerging strategy appears to shift focus to a regional solution to Afghanistan's problems.

"A regional approach really means looking at Afghanistan and Pakistan through a similar lens but also it should also mean bringing in China, bringing in India, bringing in Iran, bringing in the neighbors to make sure that everyone is part of the same solution," von Hippel said.

As Logan reports, this is the cost of not bringing in Afghanistan's neighbors. An exclusive video from Pakistan's tribal areas shows young boys being indoctrinated as suicide bombers.

According to the Taliban, the fate of becoming suicide bombers is what awaits them over the Afghan border. The teenage boy seen in the video is about to blow himself up.

The tape shows him saying goodbye to the men who packed his vehicle with explosives and heading off to find an American target.

The boy's mentors erupt in victory cries as they film the suicide.

Taliban attacks and U.S. casualties are the highest this year since the war in Afghanistan began.

The region is so connected, that any of Afghanistan's neighbors could facilitate peace and security - or as has been seen, make the situation a lot worse.

Palin Interviewed by FOX's Van Susteren: Transcript (11-10-08)

Sarah Palin was interviewed by FOXNews' Greta Van Susteren ('On The Record'). Read the complete transcript.

VAN SUSTEREN: All right. Let me clarify some loose ends here. The clothes -- what is the story on the clothes?

PALIN: The clothes. When I arrived at the convention, there were clothes waiting for me and clothes being ordered for me and for the family, for eight of us. And ever since then, those clothes, knowing that they didn't belong to me, many of them had been returned, many of them were put in the belly of the airplane, and some of them were returned home with me. We boxed them all up, sent them back to the rightful owners, the Republican National Committee. And that's the story on the clothes.

VAN SUSTEREN: Did you order the clothes?

PALIN: Did not order the clothes. Did not ask for the clothes. I would have been happy to have worn my own clothes from day one. But you know, that turned into kind of an odd issue, an odd campaign issue as things were wrapping up there, as to who ordered what and who demanded what.

But you know, I was happy to get to come home to my own closet and put my own clothes on again, which we had done, of course, through most of the campaign also. But the convention clothes were belonging to the RNC.

VAN SUSTEREN: Do you know whose idea that was or how that even evolved?

PALIN: Haven't really heard how all that evolved and hadn't really pursued it until we started getting criticized for supposedly asking for all these clothes, my family and me. And still don't have all of the answers. But it just, at this point, especially seems so irrelevant, unless the criticism continues in regards to my family or me demanding anything.

But it just seems like such an irrelevant issue when you consider what's going on in the world today and how a new administration is being ushered in and people being concerned about the direction of the nation and policies that will be adopted, and also at the same time being excited about this historic moment in our nation's history. Clothes just seem irrelevant.

VAN SUSTEREN: You know, I agree with you they're irrelevant. It's just that the number was so horrific. I mean, $150,000 was a giant number. And it seemed, you know, that all of a sudden, you got hammered with it. And I was trying to figure out, you know, it is fair, is it unfair, or you know, why is it that this became an issue? And I don't mean to harp on it, but why did this become an issue?

PALIN: Well, that is a good question. Again, arriving at the convention, being told that along with staging and lighting and everything else was wardrobe for my family and me to wear during the convention, and you know, just kind of going with the flow. OK, sounds -- that sounds fine. If that's the way that they do this, that's good, wearing the clothes during that time.

There's no way it could have been $150,000 worth of clothes, though, not unless every jacket and pair of shoes were $10,000, $20,000. I don't see how it added up.

But it was for eight people, not just for myself. And my understanding is right off the bat, about a third of the clothes had been returned because they just weren't going to work. Another third of the clothes that we were wearing all got returned to the RNC. And another third of the clothes -- we never did see them. Evidently, they were in the belly of the plane, and those got sent back also.

CBS' Couric, Schieffer on Obama White House Visit

This video shows yesterday's Obama visit to the White House for first time as President -elect.

Sarah Palin on the 'Today Show': Video (11-11-08)

This video is of Matt Lauer's interview of Sarah Palin on the Today Show shown this morning. Complete Transcript.

Excerpt:

LAUER: There is this feeling -- and some of this comes from leaks and other just perception, people getting a gut -- that there was increasing tension between you and Senator McCain in the final stretch of this campaign. Tell me what the relationship was like.

S. PALIN: We have a great relationship. Had from day one. Had the first time that I met him last year, he and his wife. I just have been great admirers of them, of their family, of all that Senator McCain has accomplished. Never once was there any inkling of tension between the two of us. Perhaps within the campaign there were campaign staffers who...

LAUER: Well, describe that for me. Who was butting heads?

S. PALIN: You know, I don’t even know. That inside baseball stuff regarding the way a campaign works on that level -- I certainly didn’t get bogged down in any of the potential skirmishes or perceived problems.

LAUER: Have you listened to some of the leaks that have come out since the election where -- where they’re saying that the McCain people leaked anonymously -- are saying, “We couldn’t control her, she was a rogue, she didn’t want our consultants around her and it became tense.”

Where did stories like that come from?

S. PALIN: I honestly do not know, because it’s not true, Matt. And Senator McCain and I, we have a great relationship. I have nothing but honor and admiration and love for him and for his family, and I think that is mutual. In fact, I talked to him just today, again, and we -- touching base nearly every day.

LAUER: So, it’s a warm and friendly relationship even to to this day?

S. PALIN: Very warm and friendly and professional. And I -- I -- again, I have nothing but honor and admiration and love that I will show for this great American hero.

LAUER: According to a recent article in Newsweek and some other reports, on election night, you showed up at the Biltmore in Phoenix...

S. PALIN: Yes.

LAUER: ... and things weren’t going well. And you had some copy in your hands. You had some remarks that you would have liked to have given to that audience, and, in effect, to the nation, prior to Senator McCain giving his concession speech. And you were told, “No”.

S. PALIN: Well, I had a speech that, you know, I was going to give that we’d worked on about a week. And the speech was...

LAUER: Had you cleared with anyone? Had anyone -- anyone said it might be an opportunity for you to speak?

S. PALIN: Oh, certainly, the -- the speech was written in -- in cooperation and conjunction with a couple of the speech writers in the campaign -- and had written that as an introduction to this great American hero. And of course, we had two speeches in our back pocket.

LAUER: Right.

S. PALIN: One was a concession speech that would introduce him, and it would do what John McCain just can’t seem to do for himself -- bless his heart, because he’s not that kind of man -- where I was going to brag him up and say, “You know, truly he’s an American hero, has faced great adversity, knows how challenges are overcome. And let us -- let us be thankful for this man, who with a servant’s heart had offered himself up to...

(CROSSTALK)

LAUER: So that sounds like a good idea. Why weren’t you allowed to do it?

S. PALIN: I don’t know. It was a great speech because it also then, also said, “OK, but American voters have spoken, so now, let’s all come together. I know Senator McCain wants to lead in an effort of unity here in our nation, and let’s work with President-elect Obama and let’s go forward.”

LAUER: So you walked up and you said to somebody in the campaign, “Look, I’ve got these comments I’d like to make. I want to,” as you say, “brag on him a little bit?”

S. PALIN: Yes.

LAUER: Who said no?

S. PALIN: Somebody said no, they said that it would be unprecedented, that a V.P. candidates wouldn’t introduce someone in a concession speech. And you know, all I could say was...

8-year-old Boy Shoots Father, Co-Worker: Video

AP:

An 8-year-old boy accused of fatally shooting his father and another man is set to appear in court Monday.

The boy is being charged as a minor with two counts of premeditated murder, but St. Johns police are hoping a judge will agree to try him as an adult, even though they say it's unlikely.

The boy's father, Vincent Romero, and a co-worker who rented a room from him were found dead inside Romero's home last week.

Police say the boy planned and methodically carried out the killings, and confessed to them.

But the boy's attorney, Benjamin Brewer, says police overreached in questioning the boy without representation from a parent or attorney and did not advise him of his rights.

St. Johns is a 4,000-person community 170 miles northeast of Phoenix.

Palin Blames Defeat on Bush: Transcript, Video

In an interview with an Alaskan newspaper, Sarah Palin blames her campaign's defeat on George W. See the video of the interview here. Partial transcript below.

Q. Why do you think your campaign lost?

A. I think the Republican ticket represented too much of the status quo, too much of what had gone on in these last eight years, that Americans were kind of shaking their heads like going, wait a minute, how did we run up a 10 trillion dollar debt in a Republican administration? How have there been blunders with war strategy under a Republican administration? If we're talking change, we want to get far away from what it was that the present administration represented and that is to a great degree what the Republican Party at the time had been representing. So people desiring change I think went as far from the administration that is presently seated as they could. It's amazing that we did as well as we did.

Q. There's been an enormous amount of information about you that Alaskans have been exposed to the past couple of months -- and lots of it very critical. What are Alaskans supposed to make of all this?

A. Regarding information regarding my record, that is now out there, much of it that was based on misinformation was a very, very frustrating thing to have to go through when the record was never corrected. And we would try to correct the record and too many in the media chose not to make those corrections. ! Q. What misinformation are you talking about?

A. Some of the goofy things like who was Trig's mom. Well, I'm Trig's mom (raises her hand) and do you want to see my medical records to prove that? ... And banning books. That was a ridiculous thing also that could have so easily been corrected just by a reporter taking an extra step and not basing a report on gossip or speculation. But just looking into the record. It was reported that I tried to ban Harry Potter when it hadn't even been written when I was the mayor. So, gosh, we have so many examples, I mean every day, especially the first few weeks, every day something that was thrown out there.

Q. One of the things that came up during the campaign is that you charge the state per diem for time spent here in Wasilla. Is that something you are going to continue to do?

A. We've always followed the law and fully disclosed all that. The choice there in many months of the Juneau mansion being re-plumbed and all the improvements being made in the infrastructure of the Juneau house, where we weren't going to be there anyway. Knowing that in the end it would have cost the state more money to do what other governors had done and that is either charge the state for hotel rooms. Or the state rents you an apartment like they did for Governor Murkowski. We said no, we just won't sell our house, knowing that we're going to spend quite a bit of time here, especially those months where the remodels were taking place in the governor's mansion. And we would disclose my per diem, we wouldn't try to hide it ... trying to go above and beyond, not accepting any per diem for the kids or Todd at all, they've lived outside of the governor's house. Trying to follow the rules and doing what is legal and ethical and full disclosure.

Same with the family's travel. That's baffled me that all of a sudden two years later, again, never having tried to hide anything with either traveling back and forth to Juneau for first family events that were outside the capital city, in bringing Piper and, once in a while, Willow with me also, that anybody would think that I was trying to hide that they came with me ... just trying to do my job and part of my job is with the first family, having them with me at some of these events.

Q. What was it like running for vice president?

A. It was amazing. It was amazing and very, very busy and energizing. Every day was an amazing experience and I loved it ...

And I truly believe it was good for Alaska. I believe that, with tens of millions of people seeing kind of a different face of Alaska, and again, not me personally but what it is that we represent. Hardworking, unpretentious, conservationists, all these things that our administration and my family, all that we embody, has been good for Alaska because it's shown that up here we do work hard and we do want to produce and we want to contribute more to the U.S. ... And the eyes of the nation are on Alaska, they're going to be on us for a long time.

Q. They, of course, will be on you, governor. Rasmussen Reports said 64 percent of Republicans see you as their top presidential choice in 2012.

A. Oh, look how fickle poll numbers are. Look where I've gone, up and down, up and down, even in the state of Alaska the last couple of months. We can't pay attention to those numbers.

John Podesta on 'FOX News Sunday': Transcript (11-9-08)

The head of Obama's transition team, John Podesta, was interviewed by Chris Wallace. Read the full transcript.

WALLACE: President-elect Obama made it clear in his Friday news conference that job one is the economy, but he left it unclear how active, how involved, he's going to get before his inauguration.

Will he give congressional Democrats clear direction about what he wants them to do in a lame duck session on economic stimulus?

Will he actively engage with the Bush administration on the financial bail-out, or is he going to wait until he takes the oath of office?

PODESTA: Well, we have one president at a time, as President- elect Obama said on Friday, so it's up to — the job is up to President Bush to move that legislation forward and try to keep economic recovery moving today.

But I think what the president-elect wanted to do — he sent a strong signal that we need an economic recovery program moving forward. He'd like to see the stimulus that's pending on Capitol Hill pass.

He wants to see unemployment insurance extended, aid to the states that are struggling with medical insurance — and try to fix their problems and their own budgets so they don't need to lay people off, and try to get job growth going again.

He hopes that will happen during this lame duck session, that the — that President Bush will cooperate. If it doesn't, it would be the first item of business when he comes back.

WALLACE: But for instance, on the financial rescue plan, there are some decisions that are going to be made over the course of the next two months on things — various financial institutions, how to spend that $700 billion, even talk about appointing a permanent head of the — to deal with the rescue.

If the Bush administration asked President Obama — President- elect Obama, "What do you think of this? Will you sign off on this person," is he going to say, "Yes," or, "I'll wait?"

PODESTA: Well, I think that he's going to put his own people in place when he comes to office, and we're moving very aggressively to select both people at the top for cabinet secretary, treasury secretary in particular, but we're also looking at people below the level of cabinet secretary — the undersecretary for domestic finance, the head of the TARP, the so-called TARP, et cetera.

So he's going to put his own team in place. In the meantime, he's designated Dan Tarullo as one of his senior economic advisors to — to have discussions, to be fully informed, fully briefed, with what's going on right now.

Mr. Tarullo has reached out to Secretary Paulson. They've already spoken. They're meeting tomorrow. And we'll have other people who are available to be at the Treasury to understand the decisions that are being made.

But we have one administration at a time. And those are decisions that the Bush administration needs to make while they're in office.

WALLACE: Does the president-elect feel some pressure to name his treasury secretary and his economic team first and quickly to reassure the financial markets?

PODESTA: Well, I think across the board, whether it's national security, the economy, the senior leadership that will manage health care, energy and the environment, I think he intends to move very quickly.

And you know, he's beaten a lot of records during the course of the campaign. I think people probably don't know this, but with the exception of President Bush 41, which was an intraparty transition, no new president has named a cabinet secretary before December, going back through the Kennedy administration.

And I think we're moving aggressively to try to build out that core economic team, the national security team, and you'll see announcements when they're ready.

But again, I'll reference back to what he said on Friday. He said he wants to move with all deliberate haste, but he put the emphasis on deliberate. So he's deliberating what — the strongest team that he could put in place to manage the very, very difficult problems the country is facing, and there will be announcements forthcoming.