Obama must defend health care plan to nation tonight

In an address tonight, President Obama will have to live up to his reputation to explain complicated topics in a simple way, as he rallies citizen support for his health care plan. (NYT)

SEC Chairman Mary Schapiro counters Obama’s call for the Fed to tighten its grip on financial industries, saying it’s a job for a regulatory council. (Bloomberg)

Senators cancel the sale of more fighter planes after urgings from Defense Secretary Robert Gates who wants to retool Pentagon priorities in coming months. (WSJ)

Saddled with paying back government bailout money, Morgan Stanley posts its third-straight quarterly loss. (Reuters)

President of Yale University Richard Levin admits he and other top universities must cut spending to offset endowment losses. (Bloomberg)