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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 …
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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 …
Michael D. Shear / Washington Post:
McCain Embraces Regulation After Many Years of Opposition — A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace …
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
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Mike Allen / The Politico:
Pelosi orders wide Wall Street probe — House Speaker Nancy Pelosi has ordered a broad, swift investigation of Wall Street and will demand testimony from Bush administration officials and captains of finance, congressional officials said. — House Democrats plan to aggressively look …
Board of Governors of the Federal Reserve System:
For release at 9:00 p.m. EDT
For release at 9:00 p.m. EDT
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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
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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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Faiz / Think Progress:
McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV. — McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV. — Today, McCain economic adviser Carly Fiorina bluntly stated that neither John McCain nor Sarah …
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Christian Science Monitor
David Alexander / Tales from the Trail:
Financial gloom doesn't halt glitzy Obama fundraiser — So what does Barack Obama do after a hard day of defending the common man during the worst financial crisis since the Great Depression? — Throw a $28,500-a-head fundraising dinner, of course. — Followed by a $2,500 …
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Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists? Update: AP or Miami Herald tries cleaning up Sebelius' comments — Hmmm. Didn't Barack Obama just get done scolding John McCain over “dishonorable” attacks? Maybe he should save his criticisms for his surrogates, except that they're parroting The One in his own baseless smears.
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Mark Preston / CNN:
Prominent Clinton backer and DNC member to endorse McCain — WASHINGTON (CNN) — Lynn Forester de Rothschild, a prominent Hillary Clinton supporter and member of the Democratic National Committee's Platform Committee, will endorse John McCain for president on Wednesday, her spokesman tells CNN.
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Los Angeles Times, JammieWearingFool, The Strata-Sphere, The News Buckit and Blue Crab Boulevard
Tom Maguire / JustOneMinute:
The Mortgage Debacle - Not Enough Blame To Share Some With The Democrats? — Nancy Pelosi somewhat implausibly insisted that Democrats are blameless in the current mortgage debacle: … Barack Obama blames Bush for slack oversight: … However, the record tells the opposite story …
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Neptunus Lex, Classical Values, Barack Obama and Joe Biden, The Other McCain and Hot Air
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Klaus Marre / The Hill:
Pelosi: Dems bear no responsibility for economic crisis
Pelosi: Dems bear no responsibility for economic crisis
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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.
Tahman Bradley / Political Punch:
Obama Inflates Role in Creation of Stimulus Package — In Golden, Colo., today, Sen. Barack Obama, D-Ill., took credit for the stimulus package that passed earlier this year. — “In January, I outlined a plan to help revive our faltering economy,” Obama said, “which formed the basis …
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Ed Morrissey / Hot Air:
The Silence of the Lemmings — Barack Obama's campaign seems determined to cultivate a hostile relationship with potential critics, real and imagined. After complaining loudly that talk radio doesn't provide a balanced look at politics, KCOL's Brad Jones attempted to get an Obama spokesperson …
The Politico:
Historians say McCain camp not sleaziest — David Axelrod, Barack Obama's chief strategist, said Sunday that John McCain is running the “sleaziest and least honorable campaign in modern presidential campaign history.” It was a line trotted out all weekend by various Obama staffers as part …
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 …