Obama Takes Oath as 44th President

The nation's first black president took the oath of office yesterday in the midst of one of the worst economic crises in American history. That crisis was, of course, an important part of Barack Obama's inaugural address:

"Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost; jobs shed; businesses shuttered .... These are the indicators of crisis, subject to data and statistics. Less measurable, but no less profound, is a sapping of confidence across our land -- a nagging fear that America's decline is inevitable and that the next generation must lower its sights."

Obama pledged "bold and swift" action to get the economy back on track and urged better oversight of the stock market:

"This crisis has reminded us that without a watchful eye, the market can spin out of control -- and that a nation cannot prosper long when it favors only the prosperous."