Top Items:
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.
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Mike Allen / The Politico:
Bank meltdown wallops campaigns — America's banking instability could upend the final 50 days of the presidential campaign, with both candidates forced to confront a calamity that has gotten only glancing attention during the first 20 months of the race for the White House.
Howard Wolfson / The Flack:
It's 3am on Wall Street — During the primary the Clinton campaign posited the idea that a President would face a 3am call on the economy. It looks like one of those 3am calls came this weekend as the government made the decision to let Lehman Brothers go bankrupt rather than bail the firm out.
David Henry / Business Week:
Wall Street's Perfect Storm — Investors deal with a Lehman bankruptcy, the sale of Merrill Lynch to BofA, and a possible AIG restructuring — Mondays better not get any more manic than this. — Wall Street expected to spend today trying to contain the damage from a bankruptcy filing by Lehman Brothers …
Agence France Presse:
US in ‘once-in-a-century’ financial crisis : Greenspan … The United States is mired in a “once-in-a century” financial crisis which is now more than likely to spark a recession, former Federal Reserve chief Alan Greenspan said Sunday. — The talismanic ex-central banker said that the crisis …
Ben Smith / The Politico:
Statements on Wall Street — Both candidates blame the government for today's crisis on Wall Street. Obama, though, blames the underlying conservative philosophy of deregulation; McCain suggests that it's “a system that handicaps our markets” and “the outdated and ineffective patchwork quilt …
Discussion:
Washington Monthly
Wall Street Journal:Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash
Board of Governors of the Federal Reserve System:For immediate release — The Federal Reserve Board …
New York Times:Big Insurer Seeks Cash as Portfolio Plummets
Discussion:
Real Time Economics, The Agonist, Dealbreaker, Calculated Risk, naked capitalism and Jack & Jill Politics
DealBook:Lehman Expected to File for Bankruptcy Protection
Discussion:
Firedoglake, City Room, Conglomerate, Angry Bear, The Big Picture, Economist's View, Washington Monthly, naked capitalism, Dealbreaker and Whiskey Fire
Wall Street Journal:Bank of America Reaches Deal for Merrill
Discussion:
Taylor Marsh, Dealbreaker, The Big Picture, Truthdig, naked capitalism, Firedoglake, The Agonist, DealBook, Angry Bear and Calculated Risk
New York Post:
OBAMA TRIED TO STALL GIS' IRAQ WITHDRAWAL — WHILE campaigning in public for a speedy withdrawal of US troops from Iraq, Sen. Barack Obama has tried in private to persuade Iraqi leaders to delay an agreement on a draw-down of the American military presence.
New York Times:
Chairman Rangel — Mounting embarrassment for taxpayers and Congress makes it imperative that Representative Charles Rangel step aside as chairman of the Ways and Means Committee while his ethical problems are investigated. — This recommendation does not come easily …
Jazz Shaw / The Moderate Voice:
Sarah Palin and the full “Dairygate” Timeline — I need to thank alert reader Lee Indiana for pointing me to what is now, unfortunately, being called “Dairygate” in some circles and setting me off on a morning's expedition with The Google. Even if you are already aware of the strange goings …
Wall Street Journal:
Palin's Project List Totals $453 Million — McCain Campaign Says Record Shows Drop in Requests — Last week, Republican presidential candidate Sen. John McCain said his running mate, Alaska Gov. Sarah Palin, hadn't sought earmarks or special-interest spending from Congress, presenting her as a fiscal conservative.
Victoria McGrane / The Politico:
Biden speech to take hard hit at McCain — CHARLOTTE, N.C. — Joe Biden will deliver a high-profile first attack in a sustained anti-McCain offensive in a speech called “Bush 44” Monday in the key battleground state of Michigan. — While the lines of attack have long been drawn …
Discussion:
Washington Monthly
Washington Post:
Familiar Ground May Be Election's Deciding Factor — When the general election began a few months ago, Barack Obama's advisers talked optimistically about dramatically redrawing the electoral map. Their optimism remains, but as the campaign heads into its final 50 days …
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.
Barton Gellman / Washington Post:
Cheney Shielded Bush From Crisis — This is the second of two stories adapted from “Angler: The Cheney Vice Presidency,” to be published Tuesday by Penguin Press. — Vice President Cheney convened a meeting in the Situation Room at 3 p.m. on Wednesday, March 10, 2004 …
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