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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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 …
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.
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 …
Wall Street Journal:
Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash — Fed Will Expand Its Lending Arsenal in a Bid to Calm Markets; — Moves Cap a Momentous Weekend for American Finance — NEW YORK — The American financial system was shaken to its core on Sunday.
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.
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 …
Terence Hunt / Associated Press:
Obama blames Wall St. crisis on Republican policy — CHICAGO - Democratic presidential nominee Barack Obama said Monday the upheaval on Wall Street was “the most serious financial crisis since the Great Depression” and blamed it on policies that he said Republican rival John McCain supports.
Wall Street Journal:AIG Scrambles to Raise Cash, Talks to Fed
Discussion:
Real Time Economics, American Street, Brilliant at Breakfast, naked capitalism and Calculated Risk
Wall Street Journal:Bank of America Reaches Deal for Merrill
Discussion:
Taylor Marsh, Dealbreaker, The Big Picture, Truthdig, Angry Bear, naked capitalism, Firedoglake, The Agonist, DealBook and Calculated Risk
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.
Discussion:
Doug Ross, Betsy's Page, Wake up America, Gateway Pundit, Sweetness & Light and Riehl World View
Jeanne Cummings / The Politico:
Despite record month, Obama needs more cash — Barack Obama's $66 million haul in August donations may set records but it's only a down payment on the huge sums the Democratic presidential nominee must continue to collect in order to compete through the Nov. 4 election.
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 …
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.
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 …
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