This Morning On The Stephanie Miller Show

The U.S. government yesterday announced a massive rescue package for Citigroup – the latest move to steady the banking giant. The treasury will backstop some losses against more than $300 billion in troubled assets and they will make a fresh $20 billion investment into the bank in addition to the $2 billion it has already given them.

Obama top adviser David Axelrod insisted yesterday that Obama’s economic stimulus plan would be big enough to handle the country’s financial challenges, but didn’t speculate about how big the plan would be.

Obama will introduce his new economic leadership team today, a key step toward enacting his huge economic recovery plan that aims to save or create 2.5 million jobs over the next 2 years.

Two democrats close to the transition have indicated that New Mexico Gov. Bill Richardson is now expected to be nominated as Secretary of Commerce by Obama, pending the final vetting process.

Obama’s announced several key appointments to his communications team Saturday. Robert Gibbs, the current transition spokesman, will become Obama’s Press Secretary, and Ellen Moran, Director of Emily’s List, will serve as Obama’s Communications Director.

President Bush, in what could be his final overseas trip as president, called on international leaders at the Asia-Pacific economic cooperation forum in Lima, Peru on Saturday to continue his administration’s push for free trade despite the global financial crisis.

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