Top Items:
New York Times:
Fed's $85 Billion Loan Rescues Insurer — By EDMUND L. ANDREWS, MICHAEL J. de la MERCED and MARY WILLIAMS WALSH — WASHINGTON — Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control …
Discussion:
The Moderate Voice, Eschaton, Lawyers, Guns and Money, Buck Naked Politics, Megan McArdle, Alas, a blog, American Street, the talking dog, Mish's Global Economic …, naked capitalism, Real Time Economics, Opinion L.A., Newshoggers.com, Economist's View, American Power, Concurring Opinions, TIME.com, TigerHawk, The Big Picture, Balkinization and ECHIDNE OF THE SNAKES
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Wall Street Journal:
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up — $85 Billion Loan for Giant Insurer Aimed at Averting Collapse; — Historic Move Would Cap 10 Days That Reshaped U.S. Finance; — Fed Says AIG Will Sell Businesses in Orderly Manner
Board of Governors of the Federal Reserve System:
For release at 9:00 p.m. EDT — The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve Act.
Discussion:
Firedoglake, Time, Calculated Risk, Mish's Global Economic …, Concurring Opinions, DealBook, Paul Kedrosky's … and Economist's View
David Leonhardt / New York Times:
Perhaps, Time for Someone to Play Offense — WASHINGTON — Late last week, as Lehman Brothers was collapsing, an all-star group of economists was meeting here to ponder the lessons of the financial crisis. The group included Donald Kohn, the vice chairman of the Fed, and Edward Lazear …
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Angry Bear
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake
Fed rescues AIG with $85 billion loan for 80% stake
Discussion:
LewRockwell.com Blog
CNN:
Fiorina's comment called ‘Biden-like’ — (CNN) — Top McCain-Palin official Carly Fiorina is facing criticism from some within the campaign for a day of what they call “very Biden-like” comments, after the former Hewlett-Packard CEO told two separate interviewers that neither member …
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The Huffington Post:
Fiorina: Palin Doesn't Have Experience To Run A Major Company — Carly Fiorina, a key surrogate for John McCain on economic issues, said on Tuesday that Sarah Palin does not have the experience needed to run a major company like the one that Fiorina formerly headed.
Discussion:
vnunet, Marc Ambinder, Political Radar, Matthew Yglesias, Washington Monthly, Think Progress, MSNBC, TPM Election Central, NewsBusters.org, Patterico's Pontifications, Salon, The Huffington Post, The Hill's Blog Briefing Room, Scripting News, Top of the Ticket, Crooks and Liars, Hot Air and Wake up America
Jonathan Martin / Jonathan Martin's Blogs:
Holtz-Eakin: McCain helped create BlackBerry — Asked what work John McCain did as chairman of the Senate Commerce Committee that helped him understand the financial markets, the candidate's top economic adviser wielded visual evidence: his BlackBerry. — “He did this,” Douglas Holtz-Eakin …
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David Hanners / TwinCities.com:
GOP delegate's hotel tryst goes bad when he wakes up with $120,000 missing — He met her in the bar of the swank hotel and invited her to his room. Once there, the woman fixed the drinks and told him to get undressed. — And that, the delegate to the Republican National Convention told police, was the last thing he remembered.
Discussion:
The Poor Man Institute, Washington Post, Talking Points Memo, Taylor Marsh and Booman Tribune
Alaska_Politics / Anchorage Daily News:
And now this — From an e-mail sent overnight by Anchorage attorney Kevin Clarkson:
Discussion:
The Strata-Sphere, Associated Press, The Next Right, TPMMuckraker, Media Blog and Political Machine
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Eric Boehlert / Media Matters for America:
McCain and Palin are laughing at the press — and it's the press' fault — Chris Matthews was steamed. — As John McCain's manufactured “lipstick on a pig” story was taking flight last week, Matthews, host of MSNBC's Hardball, kicked off the hour by teeing up the story.
Ben Smith / The Politico:
GOP group behind negative Obama poll — A Republican group is taking responsibility for a poll that has roiled the Jewish community by asking sharply negative questions about Senator Barack Obama. — The Republican Jewish Coalition, which is launching a campaign against Obama on behalf …
Board of Governors of the Federal Reserve System:
For immediate release — The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. — Strains in financial markets have increased significantly and labor markets have weakened further. Economic growth appears to have slowed recently …
McCainPedia:
Count the Lies — John McCain may be trying to sell himself as a “maverick” and a “straight talker” who will tell the truth no matter the consequences, but independent, non-partisan watchdog groups aren't buying it. But, since he wrapped up his party's nomination, John McCain has offered more of the same false attacks and smears.
Discussion:
The Huffington Post
Philip Gourevitch / New Yorker:
THE STATE OF SARAH PALIN — The peculiar political landscape of the Vice-Presidential hopeful. — It rained a lot in Alaska this summer—even more than usual—and it was a cold summer, too. The sun doesn't set on much of the state between mid-June and mid-July, but the weather …
Sean Penn / The Huffington Post:
Country First (or, How The Media Loves A Lipsticked Rumsfeld) — Banks are falling and businesses busting, middle-class Americans are losing their homes in droves, while greedy poison comes a tricklin' down!!! — But, “the fundamentals are good!” John McCain said they're good.
Discussion:
The Other McCain
Victor Davis Hanson / The Corner:
Reaching Critical Mass — The sudden change in the polls the last 10 days, even though it may be temporary, has prompted a furor in the media that has no parallel in modern election history. Vicious words like “treason”, “abasement”, “liar”, and “lying” are in the air now in an unheralded attack on McCain …