After a series of depressing announcements, Barack Obama will finally turn to an economic adviser who wasn’t directly responsible for the current crisis or mentored by someone who was. According to a report in The Wall Street Journal, the president-elect wants former Fed Chair Paul Volcker to lead a new presidential advisory board focused on saving America from financial ruin. Update
The Bush administration is pushing to save World Bank President Paul Wolfowitz’s job after a committee comprised of seven of the bank’s 24 board members released a 52-page report slamming Wolfowitz for his “questionable judgment and a preoccupation with self-interest,” primarily for using his position to advance that of his girlfriend.
The national SAT score average has suffered its most severe drop in 30 years. Educators insist that kids are just as intelligent, but that a recent redesign of the test, which placed increased emphasis on math and critical reading skills, is to blame for the poor showing.