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President Barack Obama swung and missed with his first choice for Commerce Secretary, New Mexico Governor Bill Richardson, a Democratic stalwart who withdrew his candidacy amid a grand-jury investigation. If that selection was partly spurred by a desire to reward an influential campaign endorsement, Obama's second stab at filling the post looks like a nod to his campaign promise of bipartisan governance. On Feb. 3, Obama reached across the aisle to tap Judd Gregg, a three-term GOP Senator from New Hampshire who, if confirmed, would be the third Republican in the Obama Cabinet. But Obama's latest...

Author: /time Magazine | Title: Commerce Secretary Judd Gregg | 2/4/2009 | See Source »

...nearly $40,000 in taxes, Daschle's nomination was turning into fodder for political opponents and late-night comedians. It didn't help matters that on Tuesday morning, another Obama appointee, Nancy Killefer, withdrew her name from consideration for the position of chief White House performance officer amid reports that she had failed to pay unemployment taxes for household help in the District of Columbia...

Author: /time Magazine | Title: Did Daschle Bow Out Too Soon, or Was It Inevitable? | 2/3/2009 | See Source »

...possible that amid the current credit crisis, banks have been unwilling to lend money for this trading operation. More likely, though, is that there is limited access to infrastructure for storage. A bank or hedge fund with no such infrastructure has to jump an enormous barrier to entry in order to set itself up for storage - apparently to the point of leasing supertankers...

Author: /time Magazine | Title: How Citigroup Makes Hay in the Oil Market | 2/2/2009 | See Source »

...Iceland Banks Fail; Government Follows After months of protests triggered by the collapse of Iceland's economy amid the global financial crisis, its government finally joined suit on Jan. 26. It has been replaced by a new left-leaning coalition that is expected to tap Johanna Sigurdardottir to take the helm. The 66-year-old Social Affairs Minister would become the world's first openly gay woman to serve as head of state...

Author: /time Magazine | Title: The World | 1/29/2009 | See Source »

...post-conflict Northern Ireland should best deal with the legacy of its three decades of the Troubles, a Protestant woman, whose parents died in an IRA bomb attack 15 years ago, confronted Gerry Adams, the Sinn Fein President and best known face of Irish Republicanism. "Murderer!" she screamed, amid boos from some participants and cheers from others...

Author: /time Magazine | Title: N. Ireland Peace Proposal Draws Outrage | 1/29/2009 | See Source »

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