Hagel to Join Obama on Iraq Trip  —  Susan Davis reports on the presidential race.  —  The buzz this week that Republican Sen. Chuck Hagel of Nebraska is planning to join Sen. Barack Obama on an up-coming visit to Iraq is correct, two sources with knowledge of the trip confirmed Friday.

U.S. Shuts Big Bank As Crisis Intensifies  —  IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bank failures in U.S. history.  —  The Pasadena, Calif., thrift was one of the largest savings and loans …

Attack of the Photoshopped Missiles (Updated)  —  Iran's propagandists aren't only ones who can photoshop a missile launch.  We know how to do that on the intertubes, too.  Here's an updated sample...  Are We Lumberjacks?:

Presidential candidate Obama to sponsor Cup car at Pocono race … SI.com has learned that for the first time in history, a major presidential candidate may sponsor a race car in NASCAR's premier series.  According to sources, Barack Obama's campaign is in talks to become the primary sponsor …

Every Time I Try to Crawl Out, They Pull Me Back in!  —  You know something? … No, that is not right: … No, that is still not right: … Maybe this will do it: … Called on forty minutes' notice, I trot over to the J-School studio to be a talking head on BBC/Newsnight about Fannie and Freddie.

Como Se Dice?  Obama Clarifies Comments Over Foreign Languages  —  ABC News' Sunlen Miller reports: Sen. Barack Obama reiterated his belief Friday that America's children to learn a foreign language, firing back against criticism he received from some conservative groups who suggested …

U.S. air strike kills 47 civilians: official  —  JALALABAD, Afghanistan (Reuters) - A U.S. coalition force air strike on Sunday killed 47 civilians, including 39 women and children, in the eastern province of Nangarhar, an Afghan official said on Friday.  —  The issue of civilian casualties …

Phil Gramm  —  From a reader: … Me: Fair enough.  My own excuse is that this is one of these stories that I somehow missed until late in the day, not sure why that is.  Anyway, this is just another example of why I've always wanted Phil Gramm to be president of the United States and why that can never, ever, happen.

IRAN MISSILE TEST BLUFF: OLD ROCKETS, BOGUS VIDEO  —  Many of Iran's claims related to missile tests during “Great Prophet III” war games — appear to be smoke and mirrors!  —  The missiles tested DID NOT not have 2,000-kilometer range, the NEW YORK TIMES is planning to report on Saturday.

OBAMA vs. THE BRASS....If this Martha Raddatz piece at ABC News is any indication, the military doesn't intend to keep a low profile in this year's presidential election.  In fact, they seem to be pretty loudly determined to make clear that they don't like Barack Obama's withdrawal plan one bit:

Obama's latest flip-flop: Death penalty for bin Laden!  Update: Double flip-flop with a global test?  —  Just three weeks ago, Barack Obama said that he would not make Osama bin Laden into a martyr if he was captured.  Today, Barack Obama suddenly thinks the death penalty would be keen-o for OBL.