AP - With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.

AP - Under intense pressure from the Obama administration and Congress, the head of bailed-out insurance giant AIG declared Wednesday that some of the firm's executives have begun returning all or part of bonuses totaling $165 million. Edward Liddy offered no details, and lawmakers were in no mood to wait.

AP - In Washington, President Barack Obama is the ultimate insider, hosting White House parties to woo lawmakers and diplomats. Elsewhere, he increasingly plays the embattled and populist crusader, helping average Americans fight entrenched interests on Capitol Hill and Wall Street.