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Edmund L. Andrews / New York Times:
Fed Acts to Rescue Financial Markets — WASHINGTON — Hoping to avoid a systemic meltdown in financial markets, the Federal Reserve on Sunday approved a $30 billion credit line to engineer the takeover of Bear Stearns and announced an open-ended lending program for the biggest investment firms on Wall Street.
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Andrew Ross Sorkin / New York Times:
JP Morgan Pays $2 a Share for Bear Stearns — In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere $2 a share to buy all of Bear — less than one-tenth the firm's market price on Friday. — As part of the watershed deal, JPMorgan and the Federal Reserve …
Paul Krugman / New York Times:
The B Word — O.K., here it comes: The unthinkable is about to become the inevitable. — Last week, Robert Rubin, the former Treasury secretary, and John Lipsky, a top official at the International Monetary Fund, both suggested that public funds might be needed to rescue the U.S. financial system.
Discussion:
The Democratic Daily, Corrente, The Peking Duck, Connecting.the.Dots and Brilliant at Breakfast
Megan McArdle:
Sold! — So JP Morgan has agreed to buy Bear Stearns at $2 a share. As others have already pointed out, this is, from the point of view of the shareholders, just barely better than bankruptcy. Talk of a bailout of the bank is silly—this wasn't a bailout; it was an orderly winding-up of business.
Wall Street Journal:Bear Stearns Closes in on Deal To Sell Itself to J.P. Morgan
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Reuters, Business Wire, The Age, The Bonddad Blog, Eschaton, Law Blog, Gothamist, DealBook, New York Times, Gawker, Portfolio, Hot Air, Economist's View, DownWithTyranny!, Grasping Reality …, The Big Picture, Truthdig, HorsesAss.Org, Emptywheel, Greg Mankiw's Blog, The Agonist and Reason Magazine
Landon Thomas Jr / New York Times:Fears That Bear Stearns's Downfall May Spread
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AMERICAblog
John Quiggin / Crooked Timber:White knights — It's just been announced that JP Morgan …
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Matthew Yglesias
Ronald Kessler / NewsMax.com:
Washington Insider with Ronald Kessler — Obama Attended Hate America Sermon — Contrary to Senator Barack Obama's claim that he never heard his pastor Jeremiah A. Wright, Jr. preach hatred of America, Obama was in the pews last July 22 when the minister blamed the “white arrogance” …
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Power Line, JustOneMinute, Top of the Ticket, Jules Crittenden, Political Byline, NO QUARTER, FREEDOM EDEN, Israpundit and Classical Values
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William Kristol / New York Times:
Generation Obama? Perhaps Not. — Sunday evening, Ben Affleck and Jennifer Garner held a “Generation Obama” fund-raiser at Boston's Rumor Nightclub. In case you're not up on the Boston club scene, I should tell you that Rumor “brings together the sexiest and hippest people from around the globe” …
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michellemalkin.com, Political Machine, Scared Monkeys, Don Surber, Publius Pundit, Gateway Pundit, NewsBusters.org, The Politico and QandO
Marc Ambinder:
Kristol Fails To Check His Sources, And So Bungles Key Fact In Anti-Obama Column — Bill Kristol's New York Times column about Barack Obama this morning contains a major, prejudicial error. — Paragraph five: … The error is in trusting the source without checking.
Allahpundit / Hot Air:Video: Juan Williams lowers the boom on Obama
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Commentary, Little Green Footballs, Donklephant, American Power, The Jawa Report and Political Byline
New Jersey Online:
McGreevey aide says he had sexual trysts with ex-governor, wife — A former aide to James E. McGreevey said today that he had three-way sexual trysts with the former governor and his wife before he took office, challenging Dina Matos McGreevey's assertion that she was naive about her husband's sexual exploits.
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Gawker, JammieWearingFool, Gothamist, JunkYardBlog, Gateway Pundit, Pam's House Blend, Political Byline and The Other McCain
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Jeane MacIntosh / New York Post:I WAS MCG AND WIFE'S THREE-WAY SEX STUD: EX-DRIVER
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New York Magazine
Dan Balz / Washington Post:
White Male Vote Especially Critical — Questions Remain Over Obama's Ability to Appeal to Demographic — In the fierce campaign between Sens. Hillary Rodham Clinton and Barack Obama, a battle dominated by questions of race and gender, white men have emerged as perhaps the single critical swing constituency.
Discussion:
protein wisdom, The Caucus, Prairie Weather, American Power, Don Surber, Electoral-vote.com and The Page
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Lesley Clark / MiamiHerald.com:
Democrats unable to agree on Florida do-over — The ongoing problem of how to resolve Florida's outsider status in the presidential race continued to divide Democrats. — AIM — lclark@MiamiHerald.com — As the Florida Democratic Party gets ready to decide Monday whether to pull …
Scott Helman / Boston Globe:
Many voting for Clinton to boost GOP — Seek to prolong bitter battle — For a party that loves to hate the Clintons, Republican voters have cast an awful lot of ballots lately for Senator Hillary Clinton: About 100,000 GOP loyalists voted for her in Ohio, 119,000 in Texas, and about 38,000 in Mississippi, exit polls show.
Alan Greenspan / Financial Times:
We will never have a perfect model of risk — The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them the value of equity in homes supporting troubled mortgage securities.
Discussion:
Eschaton, Real Clear Politics, European Tribune, Economist's View, Paul Krugman and The Bonddad Blog
Roger Cohen / New York Times:
Obama's Brother in China — So there I was, a couple of weeks back, sitting under a mango tree in western Kenya, when Senator Barack Obama's half-sister Auma says to me: — “My daughter's father is British. My mom's brother is married to a Russian. I have a brother in China engaged to a Chinese woman.”
Deb Riechmann / Associated Press:
Cheney to Meet With Iraqi Leaders — BAGHDAD — Vice President Dick Cheney opened a new U.S. push for political unity in Iraq on an unannounced visit Monday, just ahead of the fifth anniversary of the U.S.-led invasion. — Cheney landed at Baghdad International Airport …
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