Official: Hillary To Be SoS

Barack Obama just held a press conference to officially name Hillary Clinton as his Secretary of State. In order to finalize the deal, Bill Clinton had to agree to a major curtailing of his Global Initiative:

Reports said Clinton's long-rumored pick was cleared after her husband, former President Bill Clinton, agreed to hand over the names of every contributor to his foundation and decline donations from foreign governments to the Clinton Global Initiative, his annual charitable conference. The Clinton Global Initiative will also stop having its meetings overseas, reports said.

As expected, Obama also tapped Robert Gates to stay on as Defense Secretary. Gates is the first Republican to join the Obama cabinet.