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2:55 AM ET, September 15, 2008

memeorandum

 Top Items: 
Andrew Ross Sorkin / New York Times:
In Frantic Day, Wall Street Banks Teeter  —  In one of the most dramatic days in Wall Street's history, Merrill Lynch agreed to sell itself to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers …
RELATED:
Board of Governors of the Federal Reserve System:
For immediate release  —  The Federal Reserve Board on Sunday announced several initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities.  —  “In close collaboration with the Treasury and the Securities and Exchange Commission …
Paul Krugman / New York Times:
Financial Russian Roulette  —  Will the U.S. financial system collapse today, or maybe over the next few days?  I don't think so — but I'm nowhere near certain.  You see, Lehman Brothers, a major investment bank, is apparently about to go under.  And nobody knows what will happen next.
Discussion: Corrente, The RBC and Calculated Risk
Wall Street Journal:
Bank of America Reaches Deal for Merrill  —  In a rushed bid to ride out the storm sweeping American finance, 94-year-old Merrill Lynch & Co. agreed late Sunday to sell itself to Bank of America Corp. for roughly $44 billion.  —  The deal, which was being worked out in 48 hours of frenetic negotiating …
Wall Street Journal:
AIG Scrambles to Raise Cash, Talks to Fed  —  Insurer Looks to Sell Automotive Business, Annuities Unit;  —  It Seeks $10 Billion in Fresh Capital as Downgrade Threatens  —  Insurer American International Group Inc., succumbing to relentless investor pressure that drove its shares down 31% …
DealBook:
Lehman Expected to File for Bankruptcy Protection  —  According to people briefed on the matter, Lehman Brothers will file for bankruptcy protection on Sunday night, in the largest failure of an investment bank since the collapse of Drexel Burnham Lambert 18 years ago.
Wall Street Journal:
Barclays Walks from Lehman Deal; Likelihood for Transaction Narrows  —  The fate of Lehman Brothers Holdings Inc.'s darkened early Sunday afternoon after Barclays PLC, the sole remaining bidder for the 158-year-old Wall Street firm, told federal regulators that it is walking away from a transaction, people familiar with the matter say.
New York Times:
Rush Is On to Prevent A.I.G. From Failing
Discussion: naked capitalism
Rdan / Angry Bear:
Roubini and the Bail-in this weekend
Jeffrey Goldberg:
About that McCain Photo  —  Like others at the Atlantic, I was appalled to read about the actions of Jill Greenberg, the freelance photographer who took the cover portrait that illustrates my article about John McCain.  Greenberg doctored photographs of McCain she took during her Atlantic-arranged shoot …
RELATED:
Ginger Adams Otis / New York Post:
MAC HATER HAS A LOUSY ‘IMAGE’  —  MAG FOTOG IN DIRTY TRICK TO TURN POL ‘EVIL’  —  Controversial celebrity photographer Jill Greenberg, a self-professed “hard-core Dem,” deliberately took a series of unflattering shots of Republican nominee John McCain for the current cover of The Atlantic - and then bragged about it on a blog.
L.L. Brasier / Detroit Free Press:
Bad voter applications found  —  Clerks see fraudulent, duplicate forms from group  —  Several municipal clerks across the state are reporting fraudulent and duplicate voter registration applications, most of them from a nationwide community activist group working to help low- and moderate-income families.
CNN:
Rove: McCain went ‘too far’ in ads  —  (CNN) — Former Bush adviser Karl Rove said Sunday that Sen. John McCain had gone “one step too far” in some of his recent ads attacking Sen. Barack Obama.  —  Rove has leveled similar criticism against Obama.  —  “McCain has gone in some of his ads …
RELATED:
Steve Benen / Washington Monthly:
ROVE SAYS MCCAIN HAS GONE ‘ONE STEP TOO FAR’.... Karl Rove …
Andy Ostroy / The Huffington Post:
Why Replacing Biden With Hillary Makes Perfect Sense for Obama  —  Sen. Joe Biden's a perfectly appropriate vice presidential running-mate for Sen. Barack Obama.  He's got 36 years of Senate experience, is a true intellect, a foreign policy expert, and a genuinely nice guy.
Discussion: Stop The ACLU
Lisa Lerer / The Politico:
Palin hit hard on the Sunday shows  —  Palin-mania continued to dominate the conversation on the Sunday morning talk shows, as Democrats slammed Republican vice presidential nominee Sarah Palin for distorting her record in ads and on the campaign trail.  —  The attacks came in the midst …
Discussion: Open Left and Riehl World View
John Griffin / Political Punch:
Why Doesn't McCain Use a Computer?  —  Sen. Barack Obama, D-Ill. introduced a new TV ad his week that paints Sen. John McCain, R-Ariz., as out of touch for being, when it comes to technology, shall we say a touch “old-school.”  —  “1982, John McCain goes to Washington,” the narrator says.
RELATED:
Ezra Klein / American Prospect:
IT'S NOT ALL MCCAIN'S FAULT.  —  The McCain campaign's decision to lie about, well, everything, really needs to be understood as more than the outcome of John McCain's consuming ambition.  It is a rational and obvious response to the rules laid down by the media.
The Huffington Post:
Tina Fey As Sarah Palin On SNL (VIDEO)  —  Read More: Palin On Snl, Sarah Palin, Sarah Palin Saturday Night Live Video, Sarah Palin Snl, Sarah Palin Snl Video, Sarah Palin Tina Fey, Snl Sarah Palin, Snl Sarah Palin Tina Fey, Snl Tina Fey As Sarah Palin, Snl Tina Fey Sarah Palin, Tina Fay Sarah Palin …
Discussion: Dean's World
RELATED:
Robert Stacy McCain / The Other McCain:
They've ruined SiteMeter  —  UPDATED & BUMPED: Wow!  They listened: … That's amazing.  Glad to hear it.  —  UPDATE: Also got the Ace-o-lanche while the Bad New SiteMeter was in effect.  And Ace is right: If they want to add new stuff, OK, but keep the old stuff we like.
RELATED:
Patrick Nielsen Hayden / Making Light:
Either a heart attack, or a Greek of the same name  —  Some kind of “burying the lede” prize has to go to Teresa Nielsen Hayden for using a comment in a downblog thread, rather than Making Light's front page, to tell her readership that she'd been carted off to the hospital following what was probably a heart attack.
Discussion: Boing Boing and Obsidian Wings
 
 
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 More Items: 
New York Times:
Up Front  —  Robert Stone, who reviews Dexter Filkins's book …
Ben Smith / The Politico:
The RNC's cash advantage
Tim Craig / Washington Post:
Democrats' Governor Nominee to Be Chosen in Primary
Discussion: Crooks and Liars
Haaretz:
U.S. to sell IAF smart bombs for heavily fortified targets
Discussion: Reuters, Firedoglake and TPMCafe
Washington Post:
How Washington Failed to Rein In Fannie, Freddie
Kenneth Anderson's Law of War and Just War Theory Blog:
Does the NYT pay Judith Warner for her thoughts?
Ariel Leve / Times of London:
Revealed: UK's first official sharia courts
Discussion: Atlas Shrugs
Randall Kennedy / Washington Post:
The Big ‘What If’  —  The hopes of black America ride on his shoulders.
 Earlier Items: 
The Huffington Post:
McGamble  —  The McCain campaign, in running TV ads …
Discussion: The RBC and Philly.com
Gallup:
Gallup Daily: McCain-Obama Contest Remains Tight
Discussion: Don Surber
Jonah Goldberg / New York Post:
LIFE OF THE PARTY RETURNING AT LAST
George F. Will / Newsweek:
Pencils And Politics  —  Who commands the millions of people involved in making a pencil?
Willie Brown / San Francisco Chronicle:
How does President Palin sound?
Discussion: Don Surber and Chicago Boyz
Confederate Yankee:
The Official Wasilla Banned Books List
Paul Kane / Washington Post:
Offshore Drilling Is Coming to a Vote
Thomas Beaumont / Des Moines Register:
Iowa Poll: Obama opens double-digit lead
 

 
From Mediagazer:

Devin Coldewey / TechCrunch:
As the NYT Tech Guild goes on strike, Perplexity CEO Aravind Srinivas offers the AI company's services to the NYT to help ensure election coverage is available

Joshua Benton / Nieman Lab:
Around 75% of the largest US newspapers aren't endorsing anyone for president this year, as publishers try not to annoy any sliver of their remaining customers

William Earl / Variety:
Heretic's directors say they put a message in the credits that “no generative AI was used in the making of this film” to warn Hollywood about the danger of AI

 
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