Good morning.

President Obama is in Arizona, where just after noon (ET) he is due to unveil a $50 billion plan intended to help homeowners stay in their homes, USA TODAY's Rich Wolf writes. The Arizona Republic adds that the plan is "expected to offer assistance to struggling homeowners and push lenders to restructure loans and lower mortgage rates."

As for stories making headlines, they include:

• The Financial Times -- Greenspan says it may be necessary to nationalize some banks: As the Obama administration continues to work on its plan for shoring up the bank and financial sectors of the economy, the FT writes that:

The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman, has told the Financial Times. In an interview, Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers. "It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring," he said. "I understand that once in a hundred years this is what you do."

• The New York Times -- "Obama's war on terror may resemble Bush's in some areas": "Even as it pulls back from harsh interrogations and other sharply debated aspects of George W. Bush's 'war on terrorism,' the Obama administration is quietly signaling continued support for other major elements of its predecessor’s approach to fighting al-Qaeda. In little-noticed confirmation testimony recently, Obama nominees endorsed continuing the CIA's program of transferring prisoners to other countries without legal rights, and indefinitely detaining terrorism suspects without trials even if they were arrested far from a war zone. The administration has also embraced the Bush legal team's arguments that a lawsuit by former C.I.A. detainees should be shut down based on the 'state secrets' doctrine. It has also left the door open to resuming military commission trials."

• Detroit Free Press -- Automakers present Obama with another crisis: Yesterday's word from General Motors and Chrysler that they need a quick infusion of $7 billion, and $39 billion more in aid over all, presents "yet another economic crisis for President Barack Obama in his first month in office. ... White House spokesman Robert Gibbs said the president's auto task force will review the reports closely in the next few days. 'It is clear that going forward, more will be required from everyone involved -- creditors, suppliers, dealers, labor and auto executives themselves -- to ensure the viability of these companies going forward,' he said."

• USA TODAY -- Afghanistan looks to be Obama's second-highest priority: With the announcement Tuesday that he's sending an additional 17,000 troops to Afghanistan, President Obama underscored that "the economic downturn will continue to be the administration's top priority, but close behind will be Afghanistan -- a place whose tribes defied the armies of the Mongols in the 13th century, the British in the 19th and the Soviets in the 20th. Pentagon plans assume that a significant number of U.S. troops will be deployed there through the four years of Obama's term."

• Wall Street Journal -- Stimulus plan unclear on executive pay limits: "Executive-pay restrictions in the economic stimulus package could reach much further into the ranks of affected companies than previously believed, depending on how a crucial but confusingly written provision is interpreted, lawyers and compensation consultants said. Meanwhile, consternation about the new pay restrictions continued to grow, with some financial-industry insiders predicting an upheaval in industry compensation structures and a slow brain drain from affected firms."

• Politico -- As some journalists land jobs in the administration, critics say a bias is showing: "In three months since Election Day, at least a half-dozen prominent journalists have taken jobs working for the federal government. Journalists, including some of those who've jumped ship, say it's better to have a solid job in government than a shaky job –- or none at all -– in an industry that's fading fast. But conservative critics answer with a question: Would journalists be making the same career choices if John McCain had beaten Barack Obama in November?"

• Canadian Broadcasting Corp. -- Obama says stimulus will improve trade ties over time: "Washington's mammoth economic stimulus package will 'enhance' the ability of trading partners such as Canada to work within U.S. borders over time, U.S. President Barack Obama told CBC News on Tuesday in an exclusive interview from Washington. The interview with the CBC's chief correspondent Peter Mansbridge took place in the White House on Tuesday morning ahead of Obama's first official foreign visit as president with Prime Minister Stephen Harper in Ottawa on Thursday."

Click here to read the rest of The Oval.