In Strasbourg yesterday, the president was asked about American exceptionalism. "I believe in American exceptionalism," he began, "just as I suspect the Brits believe in British exceptionalism and the Greeks believe in Greek exceptionalism." Leaving aside that we Greeks believe our exceptionalism to be exceptional and exceptionally old, the president's answer was masterful as he went on to talk about America's core set of values, quickly pivoting to the need to recognize "that we're not always going to be right" and "that other people may have good ideas." So basically, yes, we are exceptional -- when we live up to our exceptional values. It's going to take a while to repair America's reputation -- and thus its ability to lead in the world -- but in Europe this week, Obama made an exceptional start.

Discussing the financial crisis with Obama's economic team is like beaming back to the 2nd century and discussing astronomy with Ptolemy. Just as Ptolemy was convinced we live in a geocentric universe, Obama's senior economic team is convinced we live in a bank-centric universe. It's an obsolete cosmology. READ MORE The Debate Over Online News: It's the Consumer, Stupid For me, the key question is whether those of us working in the media embrace and adapt to the radical changes brought about by the Internet or pretend that we can somehow hop into a journalistic Way Back Machine and return to a past that no longer exists. READ MORE Watch: Arianna Debates New Media with AP CEO Tom Curley on Charlie Rose Watch: Arianna Joins David Frum, George Will, Richard Haas, Martha Raddatz on This Week with George Stephanopoulos

This week, the Grand Old Party continued its march into madness -- and irrelevancy. Rep. Spencer Bachus pegged the number of Congressional socialists at 17. Rep. Michele Bachmann said she fears the Obama administration will use "volunteerism" to create "re-education camps for young people." Sen. James Inhofe responded to news that Obama plans to increase military spending by $31 billion dollars by claiming the president "is disarming America." And Rick Santorum penned an op-ed accusing Obama of having "disdain for American values." Elsewhere, proving that stupid has no borders, Italian Prime Minister Silvio Berlusconi said the 17,000 survivors of Italy's deadly earthquake "should see it like a weekend of camping" -- a lovely companion to Barbara Bush's memorable observation that Katrina victims housed at a relocation center in Texas "were underprivileged anyway, so this is working very well for them." Happy Easter, HuffPosters.

The GOP is so devoid of any actual solutions to the many crises we are facing they find themselves grasping at the vaguest hint of a talking point or, failing that, making stuff up out of thin air.

The way we respond to the revelations about the Bush administration's use of torture will define the kind of country we are. It is a test of our courage and our convictions. So far, the media are not getting high marks.

In almost all his appointments, Obama has demonstrated a desire to receive a wide range of opinion. But at Treasury, the range of opinion goes all the way from Goldman to Sachs. READ MORE Why Are Bankers Still Being Treated As Beltway Royalty? According to Sen. Dick Durbin, banks "are still the most powerful lobby on Capitol Hill." We are truly through the looking glass. Since when did it become "to the vanquished go the spoils"? READ MORE Watch: Arianna Discusses How Dem Senators Screwed Homeowners on Countdown Watch: Arianna Discusses Obama's First 100 Days On Larry King Live Watch: Arianna Joins Katie Couric's Live Webcast To Talk About Obama's First 100 Days

How do the same banks that have repeatedly come to Washington over the last eight months asking for billions to rescue them from their catastrophic mistakes, somehow still "own the place"?