Cheat Sheet - Meet Your New Spymaster

Today: Bank of America to Pay $10B , China Ends Labor-Camp Orders , Tavis Smiley on Quentin Tarantino's Django Unchained January 07, 2013 PERSONNEL 1. Meet Your New Spymaster For John Brennan, the man President Obama nominated to be the next CIA director at a White House press conference this afternoon, the second time is a charm. Brennan's name was first floated for the job after Obama's 2008 election. But that time, the Democratic Party's progressive base opposed the nomination, citing Brennan's position at the agency as it developed an interrogation regime its critics have called torture. The Daily Beast's Eli Lake on how he'll fare this time. Plus, Daniel Klaidman on Brennan's role in the U.S. targeted-killing drone program. Read it at The Daily Beast REFUND 2. Bank of America to Pay $10B Fannie Mae has a little more than $10 billion coming its way, as Bank of America has agreed to pay the mortgage firm for any unsettled claims from the housing-market crash. Under the terms of the agreement, on top of the $3.6 billion check Bank of America plans to write Fannie, it will also buy $6.75 billion on discounted mortgages. After settling its debt to Freddie Mac in 2011, paying back Fannie Mae is the next major step on Bank of America's road toward recovery and away from the risky home-lending game. Read it at The New York Times REFORM 3. China Ends Labor-Camp Orders China will cease giving out labor-camp sentences this year, according to the country's top law-enforcement official. During a conference, Meng Jianzhu, the head of the Communist Party Politics and Law Commission, reportedly said that although the system was once useful, conditions have changed. The move would be a major step in reforming China's judicial system, but it is not clear what will become of existing "reeducation through labor camps" or their current inmates. China claims to have 310 labor camps, which hold 310,000 prisoners and employ 100,000 staff. One activist said, "This announcement is a very good thing, but we'd still like to hear them say that they're getting rid of reeducation through labor entirely." Read it at The Associated Press CRITIC 4. Smiley: 'Django' Is an Outrage The influential author and host of the Tavis Smiley show talks to The Daily Beast's Marlow Stern about Quentin Tarantino's treatment of black culture in the new Western Django Unchained—and asks why Hollywood can't get it right on the legacy of slavery. Read it at Newsweek SHE'S BACK 5. Clinton Returns to Work Monday Hillary Clinton is set to return to work Monday for the first time since being released from the hospital. The State Department released a schedule that shows Clinton meeting with assistant secretaries Monday morning, though her most significant meetings will not come until Wednesday and Thursday, when Afghan President Hamid Karzai is in Washington. The secretary of state had been admitted to NewYork-Presbyterian Hospital on Dec. 30 after doctors discovered a blood clot in her head, but she was released last Wednesday. Read it at The Associated Press JUSTICE Aurora Shooter to Appear in Court As prosecution outlines case. TREND WATCH Is Government Finally Hiring? Public-sector losses may be slowing. INTOXICATED Rand Paul's Son Arrested For underage drinking and disorderly conduct. UH-OH 10 Things to Freak Out About in 2013 A risk-consulting firm's warnings for the new year. SYBIL CUT HER HAIR?! Lady Edith Has Googly Eyes Tumblr launches, makes people laugh. GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET Culture Beast Weekly cultural recommendations from The Daily Beast. Brennan's Controversial Remarks President Obama nominated John Brennan as CIA director Monday, despite criticism that the former deputy director supported George W. Bush's harsh interrogation techniques. Brennan removed himself from consideration for the job in 2008 largely because of these comments, made in a 2006 interview with 'Frontline.' More Videos Was Missoni Kidnapped? by Barbie Latza Nadeau Chris Christie Casts a Big Shadow by Lloyd Grove Vivienne Westwood's Greatest Hits by Isabel Wilkinson

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