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Moynihan, of course, still has a lot of work to do. He still has to turn around Bank of America's large credit-card business, which has consistently had higher loss rates than competitors. The bank has also been without a chief financial officer since mid-January, though people close to the search say Moynihan recently narrowed his choices down to three people. And Moynihan may have to answer recent claims that the bank used Lehman-like accounting maneuvers to hide assets. Bank of America has denied the allegations. (See the best business deals...
Moynihan has also made a concerted effort to connect with regulators. Most characterize his predecessor Lewis as indifferent when it came to politicians and policymakers. But Moynihan has prioritized Washington relations, meeting frequently with regulators. Treasury Secretary Timothy Geithner and Moynihan have met three times in so many months. Says one Administration official of Moynihan, "He's a breath of fresh...
...Afghan officials suspect that Hekmatyar made his peace overture to Karzai only after getting a nod from the Pakistani military establishment. Pakistani officials are keen to demonstrate to the Obama Administration that reconciliation between Karzai and the insurgents can succeed, but only if Pakistan makes it happen. That may also explain the recent arrests of 14 senior Taliban commanders in Pakistan - according to the U.N. and Afghan officials in Kabul, some of those held by Pakistan had been engaged in secret talks, and were more open to a peace deal than their hard-core brethren inside the movement...
...Pakistan is also letting the Obama Administration know that it is willing to exercise its leverage over the Afghan insurgents - but at a price, first and foremost in restoring the Pakistani influence in Kabul that was lost when the U.S. ousted the Taliban. Just before a high-level Pakistan delegation set off for Washington, Foreign Minister Shah Mahmood Qureshi declared, "We've done our bit ... We've delivered. [Now you] start delivering...
...British diplomats and military commanders from discussions. Chilcot and his fellow committee members plan to travel to the U.S., probably in May, to interview members of the Bush Administration and U.S. military figures of similar heft to the inquiry's British witnesses, who have included not only Blair but also Britain's serving Prime Minister, Gordon Brown. (See "Unbowed on Iraq, Blair Argues for Targeting Iran...