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9:35 AM ET, March 17, 2008

memeorandum

 Top Items: 
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.
RELATED:
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.
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.
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 …
Ambrose Evans-Pritchard / Telegraph:
Foreign investors veto Fed rescue
Discussion: Vox Popoli
Wall Street Journal:
The Buck Stops Where?  —  In the credit market panic that began …
Discussion: Donklephant
Matthew Yglesias:
Sunday Financial Meltdown Blogging
Discussion: Brendan Nyhan
Wall Street Journal:
Bear Stearns Closes in on Deal To Sell Itself to J.P. Morgan
Landon Thomas Jr / New York Times:
Fears That Bear Stearns's Downfall May Spread
Discussion: AMERICAblog
Larry Kudlow / The Corner:   JP Morgan Chase + Bear Stearns
RELATED:
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” …
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.
Tom Maguire / JustOneMinute:   Oprah, Obama, And Wright
Michelle Gallardo / WLS-TV:
Obama answers questions about Rezko, pastor
Discussion: EconoPundit
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.
RELATED:
Jeane MacIntosh / New York Post:
I WAS MCG AND WIFE'S THREE-WAY SEX STUD: EX-DRIVER
Discussion: 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.
RELATED:
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.
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 …
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.”
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.
Zogby:
Zogby Poll: U.S. Wants McCain to Answer the Phone  —  GOP presidential candidate seen as best to handle a 3 a.m. crisis at the White House  —  UTICA, New York - The recent Hillary Clinton campaign advertisement asking who Americans want answering the phone in the White House when a crisis erupts …
RELATED:
Mark Steyn / The Corner:
Bill Bradley's anger management  —  By the way, Jonah, Bradley's wrong: in today's political culture, it's not “easy to be angry” when a kook preacher tells his congregation “God damn America”.  Community spokespersons pop up on TV to assure you that “it's a black thing” …
 
 
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 More Items: 
Peter Baker / Washington Post:
Cost Nearly Doubles For Marine One Fleet
Discussion: On Deadline and Outside The Beltway
Deb Riechmann / Associated Press:
Cheney to Meet With Iraqi Leaders
Discussion: Firedoglake
Pajamas Media:
Soft Jihad: the next phase
Discussion: Once Upon a Time and Roger L. Simon
Warren P. Strobel / McClatchy Washington Bureau:
Iraq war's cost: Loss of U.S. power, prestige, influence
Discussion: Informed Comment, LewRockwell.com Blog and Matthew Yglesias
 Earlier Items: 
Jeff Jacoby / Boston Globe:
Patton and the 2008 vote  —  ON THE eve of the Normandy invasion …
Discussion: Blue Crab Boulevard
Los Angeles Times:
U.S. tries to shut revolving door of illegal reentry
Discussion: Patterico's Pontifications, ImmigrationProf Blog and Unqualified Offerings
Scott Horton / Harper's:
The Gathering Storm at Justice
ABCNEWS:
Bill Clinton: ‘Chill Out,’ Let Voters Decide
Discussion: Althouse, Wake up America and TVNewser
 

 
From Techmeme:

Wall Street Journal:
Gina Raimondo says holding back China in the chips race is a “fool's errand”, and investment, more than export controls, will keep US ahead of Beijing

Paresh Dave / Wired:
Google says it wouldn't force its device makers, browser, and wireless carrier licensees to distribute Gemini to US users for three years, in a proposed remedy

Reuters:
Albania bans TikTok for a year from January 2025, part of a broader plan to make schools safer following the killing of a 14-year-old near a school in November
 
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