A New Government in Libya

The US has recognized the rebels as the legitimate government of Libya, and a slew of other countries either have or are about to. This could give the rebels access to billions of dollars in frozen funds that once belonged to Gaddafi. Secretary Clinton:

until an interim authority is in place, the United States will recognize the Transitional National Council as the legitimate governing authority for Libya, and we will deal with it on that basis. . . . the United States views the Qadhafi regime as no longer having legitimate authority in Libya.