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Defense Secretary Robert Gates is recommending the nation's top naval officer, Adm. Michael Mullen be nominated as the new chairman of the Joint Chiefs of Staff. Gen. Peter Pace will not be reappointed to a second term. Jacki Lyden speaks with Chris Cavas, a reporter with Defense News.

Author Juliet Eilperin says that while sharks are efficient, relentless killers, humanity's fear of the animals at the top of the ocean's food chain is overblown. "They're incredibly good at what they do," she says, but "they're not targeting us."

A year ago, California voters rejected Arnold Schwarzenegger's vision for the state's future by defeating his entire slate of referenda. He then apologized for battling with nurses, police officers and teachers, not to mention assorted Democrats in Sacramento. Now Schwarzenegger's back on top.

President-elect Barack Obama nominated Gen. James Jones to be his national security adviser. Best known as a former Marine commandant and supreme allied commander in Europe, Jones is part of a group of military and business leaders trying to raise the profile of energy dependence as a national security threat.

Under new rules, the top executives of those companies that seek federal bailout funds cannot earn more than $500,000. Steven Hall, managing director of Steven Hall and Partners, an executive compensation consultation firm, offers his insight on what the change means.

The nation's top military officer told senators Tuesday he supports overturning the law barring gays from serving openly in the ranks. Adm. Mike Mullen's comments were the first time a senior active-duty officer has called for ending what's known as don't ask don't tell, which has forced thousands of gay servicemen from the ranks since it was enacted in 1993.

The U.S. director of national intelligence says al-Qaida will continue to try to attack the U.S. until its two top leaders are dead. Dennis Blair was briefing a congressional panel Tuesday on the assessment of global threats.

What do a left-leaning billionaire and a former top economic adviser for President Bush have in common? They both think stabilizing home prices is the key to fixing the financial crisis. Investor George Soros and Glen Hubbard, former chairman of the Council of Economic Advisers, want the government to help refinance vast numbers of mortgages to help homeowners.

The U.S. government has again propped up insurance giant AIG. It's the fourth time the government has intervened to save the company. The question is whether an additional $30 billion, on top of the $150 billion already committed, will be enough to save the company. Some analysts believe government aid to AIG will peak at $250 billion.

Wall Street Journal economics writer David Wessel's new book, Red Ink, lays out in unsparing terms the way the U.S. government spends money, who pays what in taxes, and why politicians can't seem to agree on ways to reduce the potentially catastrophic deficit.