President Takes On Education At Town Hall
(AP)
The president was joined by Los Angeles mayor Antonio Villaraigosa and California Gov. Arnold Schwarzenegger. Schwarzenegger, a Republican, has enthusiastically embraced the president's stimulus package, unlike some of his colleagues, such as South Carolina's Republican Gov. Mark Sanford.
After the event, Schwarzenegger called Obama "so smart," according to Politico.
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Attorney General Overturns Strict FOIA Guidelines
(AP Photo/Gerald Herbert)
Attorney General Eric Holder announced that he was overturning the stricter guidelines employed by the Bush White House when it came to Freedom of Information Act (FOIA) applications. In a memo to heads of executive departments and agencies, Holder instructed government workers to apply "a presumption of disclosure" when handling FOIA requests.
"The American people have the right to information about their government's activities, and these new guidelines will ensure they are able to obtain that information under principles of openness and transparency," Holder said in a statement announcing the new guidelines.
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Dodd Defends Himself On AIG Bonuses
(AP Photo/Haraz N. Ghanbari)
With an edge in his voice, the Senate Banking Committee Chairman said he feels the administration ought to shoulder much of the blame for the situation, which has generated populist outrage.
"The administration sought changes in [executive compensation rules]," Dodd said. "At the time they seemed, at least in one case, relatively technical to me, having no connection whatsoever to the AIG issue. So we agreed to a couple of those changes in order to preserve the amendment."
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Will Geithner Survive The AIG Scandal?
(AP Photo/Ian Barrett)
Battered by controversy surrounding the $165 million in bonuses doled out by AIG and still reeling from tax problems that jeopardized his nomination last January, Geithner has been assailed this week by Republican leaders over his handling of the financial crisis.
Many speculate that Geithner may soon find himself a victim of the bailout bonus controversy. Odds that Geithner will be ousted by June 30th have doubled to 21 percent over the past two days according to predictions by intrade.com, The Business Insider reports.
A barrage of recent criticism lends credence to the Web site's assessment of the treasury secretary's withering prospects for survival. Here's what some of Geithner's Capital Hill critics are saying:
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Obama Announces $2.4 Billion To Encourage Electric Vehicle Production
(CBS)
"I am announcing that the Department of Energy is launching a $2 billion competitive grant program under the Recovery Act that will spark the manufacturing of the batteries and parts that run these cars, build or upgrade the factories that will produce them, and in the process, create thousands of jobs right here in America," the president said.
He added that the government is "making a $400 million down-payment on the infrastructure necessary to get these cars on the road; and because these cars won't leave the showroom unless consumers buy them, the Recovery Act includes a new tax credit of $7,500 to encourage Americans to plug one in at home."
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Michelle Obama Opens Up To D.C. High Schoolers
(AP)
As a kid growing on the south side of Chicago, Michelle Obama remembers being ridiculed for trying to be educated and get good grades.
"I wanted an "A". I wanted to be smart. I wanted to be the person who had the right answer. And I didn't care if it was cool - 'cause I remember there were kids around my neighborhood who would say 'ooh - you talk funny. you talk - like a white girl.' I heard that growing up my whole life."
It was the First Lady's way of encouraging a dozen kids at an inner city high school in the nation's capital, to pursue better lives – no matter what anybody thinks.
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Obama Has Deal For Two Books
(AP)
The president is getting a $250,000 advance* plus a percentage of domestic book sales for the abridged version of "Dreams Of My Father," according to the Associated Press. According to financial disclosure reports filed this week and first reported by Congressional Quarterly, he took in $2.5 million last year in royalties from his two bestselling books.
The White House tells CBS News the arrangement should not be thought of as a book deal.
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Bush Has Begun Work On Memoirs
(AP Photo/Manuel Balce Ceneta)
From Ulysses S. Grant (whose "Personal Memoirs" is considered the gold standard of presidential autobiographies) to Bill Clinton (whose "My Life" sold over 2 million copies), the memoir has become an essential part of reputation-building for ex-presidents.
Mr. Bush has signed a deal to write his own contribution to the genre, tentatively titled "Decision Points," with the Crown Publishing Group, Politico reports. It is not known if Mr. Bush's payday will match or surpass the $15 million advance that Mr. Clinton received from Random House for his memoir.
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Morning Bulletin – Thursday, March 19, 2009
A roundup of news, schedules, and key stories from CBS News Political Director Steve Chaggaris:
As the fallout from the AIG bonuses dominates Washington, President Obama will spend a second day in California to talk about his budget blueprint. First, he'll tour a technical center in Pomona that tests rechargeable batteries for hybrid cars.
At 4pm ET, he will be joined by Gov. Arnold Schwarzenegger, R-Calif., at a town meeting in Los Angeles before taping "The Tonight Show with Jay Leno."
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(AP Photo/Gerald Herbert)
At 4pm ET, he will be joined by Gov. Arnold Schwarzenegger, R-Calif., at a town meeting in Los Angeles before taping "The Tonight Show with Jay Leno."
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Day 59: President Obama's Schedule
President Obama spends his 59th day in office in California as part of a two day visit to the state. He will be "as funny as times allow," according to a White House official, during a taped interview to air tonight on "The Tonight Show with Jay Leno."
Earlier in the day, the president will receive his daily briefing in Los Angeles before touring the Edison Electric Vehicle Technical Center in Pomona, CA. He will give remarks after the tour.
This afternoon, President Obama will host a town hall meeting with Governor Arnold Schwarzenegger, Los Angeles Mayor Antonio Villaraigosa, and Secretary of Labor Hilda Solis in Los Angeles. Here is more from the White House Press Office (all times eastern):
12 : 00 PM President Obama receives Presidential Daily Briefing
1 :30 PM President Obama tours the Edison Electric Vehicle Technical Center Garage of the Future
1 :45 PM President Obama delivers remarks
4:10PM President Obama holds town hall at Miguel Contreras Learning Center
6:10PM President Obama departs Miguel Contreras Learning Center
7:20PM President Obama tapes an interview on The Tonight Show with Jay Leno
8 :50PM President Obama departs Long Beach, CA en route Andrews Air Force Base
Friday, March 20
1:05AM President Obama arrives at Andrews Air Force Base
1:20AM President Obama arrives at the White House
Earlier in the day, the president will receive his daily briefing in Los Angeles before touring the Edison Electric Vehicle Technical Center in Pomona, CA. He will give remarks after the tour.
This afternoon, President Obama will host a town hall meeting with Governor Arnold Schwarzenegger, Los Angeles Mayor Antonio Villaraigosa, and Secretary of Labor Hilda Solis in Los Angeles. Here is more from the White House Press Office (all times eastern):
12 : 00 PM President Obama receives Presidential Daily Briefing
1 :30 PM President Obama tours the Edison Electric Vehicle Technical Center Garage of the Future
1 :45 PM President Obama delivers remarks
4:10PM President Obama holds town hall at Miguel Contreras Learning Center
6:10PM President Obama departs Miguel Contreras Learning Center
7:20PM President Obama tapes an interview on The Tonight Show with Jay Leno
8 :50PM President Obama departs Long Beach, CA en route Andrews Air Force Base
Friday, March 20
1:05AM President Obama arrives at Andrews Air Force Base
1:20AM President Obama arrives at the White House
Dodd: Treasury Insisted On Grandfathering Bonuses
(CBS)
It was a day of outrage on Capitol Hill. Outrage that AIG, recipient of almost $180 billion in federal bailout money, is paying out $165 million in "retention awards" to hundreds of employees, including 73 bonuses of $1 million or more and 11 payments to people who no longer work for AIG.
As CBS News and others have documented, that outrage is disingenuous coming from lawmakers who have known about the pending bonuses for months.
In particular, it's disingenuous coming from anyone who voted for the American Recovery and Reinvestment Act of 2009 (a.k.a. the Obama stimulus package). The stimulus bill included provisions to limit executive compensation at companies receiving federal bailout money. But it also stated explicitly that the limits would not apply to bonuses agreed to prior to Feb. 11, 2009.
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Day 58: Obama Calls For More Regulation
4874187On his fifty-seventh day in office, President Obama called for greater regulation on AIG-like institutions so that "we're not going to find ourselves in these kinds of terrible positions again."
He called for "a resolution authority that would be similar, not identical but similar, to the powers that the FDIC currently has over banks" for institutions like the insurance giant, which has received more than $140 billion in bailout money from the government.
Mr. Obama also took the blame for the IAG situation, despite the fact that the AIG bonus contracts generating such outrage were drafted before he came into office.
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He called for "a resolution authority that would be similar, not identical but similar, to the powers that the FDIC currently has over banks" for institutions like the insurance giant, which has received more than $140 billion in bailout money from the government.
Mr. Obama also took the blame for the IAG situation, despite the fact that the AIG bonus contracts generating such outrage were drafted before he came into office.
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House Passes Bill To Expand Service
(AP)
The legislation mandates slots for 175,000 more participants in such programs. It passed by a vote of 321-105, with dissenters saying the government is choosing to pay for work that would already be done for free by volunteers.
President Obama, who backs the bill, has pushed expanded service as a way for America to set through the current recession. It would cost $6 billion over the course of five years.
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Obama To Hold Prime Time News Conference Tuesday
(AP)
CBS News will broadcast the news conference on television; the Katie Couric-anchored coverage will include analysis of his comments and of the issues and challenges facing the administration. CBSNews.com will also webcast the press conference and offer full coverage.
Obama On 60 Minutes This Sunday
(CBS)
CBS News announced today President Obama will be interviewed 60 Minutes this coming Sunday night. Correspondent Steve Kroft will talk to Mr. Obama in the Oval Office this Friday in what is expected to be the longest interview he has granted since taking office.
The interview will be broadcast this Sunday, March 22, at 7 p.m. ET/PT.
