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1:50 AM ET, September 17, 2008

memeorandum

 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 …
RELATED:
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.
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 …
Discussion: Angry Bear
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake  —  WASHINGTON: Acting to avert a possible financial crisis worldwide, the U.S. Federal Reserve Board reversed course Tuesday and agreed to an $85 billion bailout that would give the U.S. government an ownership stake in the troubled insurance giant American International Group.
Stephen Labaton / New York Times:   Some Seek Agency to Buy Bad Debt as Long-Term Answer
DealBook:   Fed to Offer Bridge Loan to A.I.G. and Take Control of Firm
Myglesias / Matthew Yglesias:
The Commanding Heights
Discussion: Balkinization
Mike Allen / The Politico:
Pelosi orders wide Wall Street probe
Michelle Malkin:
Mother of all bailouts: $85 billion to AIG
William Bradley / The Huffington Post:
Far Right's Hypocrisy Spotlighted In California Budget Fiasco
Discussion: Los Angeles Times
Megan McArdle:   Hindsight regulation … But I don't blame it on Clinton.
RELATED:
Ed Morrissey / Hot Air:   Alaskan lawmakers to file suit to stop legislative probe run amuck
Jonathan Martin / The Politico:
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 …
RELATED:
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 …
RELATED:
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.
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.
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 …
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.
Discussion: Crooks and Liars and First Draft
Randyj / TIME.com:
Obama Team Files Suit Over Alleged Voter Suppression Plan  —  On afternoon conference call, Obama and Michigan Democratic officials say they're seeking an injunction to block alleged “caging” by the state GOP — using home foreclosure lists to seek to block residents from voting.
RELATED:
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 …
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 …
Discussion: MoJoBlog
Jonathan Martin / The Politico:
McCain press pack stages mini-insurrection  —  Amie Parnes reports:  —  Reporters traveling with John McCain are slightly miffed that the senator hasn't had any face time with them in, well, a month and three days (But who's counting?)  —  So, when Straight Talk Air departed Tampa today, a dozen reporters chanted, “Bring Mac back!
Discussion: Newshoggers.com
 
 
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 More Items: 
The Politico:
Historians say McCain camp not sleaziest
Discussion: Sister Toldjah
Colin Moynihan / New York Times:
Questions Emerge Over Police Conduct in St. Paul
Discussion: Slog
Media Matters for America:
Limbaugh: “Troopergate” …
Kathryn Jean Lopez / The Corner:
Laura Ingraham vs. David Brooks
CNN:
Cafferty: Obama: Race a factor?
Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists? …
Zachary Roth / TPMMuckraker:
Source: Sex Assault Program Cited in Monegan Firing Targeted Child Abusers
Justin Wolfers / Freakonomics:
Competing Tax Plans: Two Perspectives
 Earlier Items: 
Klaus Marre / The Hill:
Pelosi: Dems bear no responsibility for economic crisis
Rhonda Schwartz / ABCNEWS:
Tanning Bed to Troopergate: Palin Aides Kept Scrambling
Soren Dayton / The Next Right:
Is Obama abandoning Virginia?
John Bresnahan / The Politico:
Cash-poor Obama says no to Reid
Taegan Goddard / Political Insider:
Obama vs. Palin
Jeff G. / protein wisdom:
Swiftboating Sarah Palin
Nate Silver / FiveThirtyEight.com:
Palin's Favorability Numbers Eroding
Financial Times:
Russia halts trading after 17% share price fall
 

 
From Mediagazer:

Mandy Dalugdug / Music Business Worldwide:
UMG, ABKCO, and Concord sue Believe, a music distributor in 50+ countries, and its subsidiary TuneCore for $500M+, accusing Believe of copyright infringement

Reuters:
French judicial source: investigators searched Netflix's offices in France and the Netherlands as part of a preliminary investigation into tax fraud laundering

Alexandra Steigrad / New York Post:
iHeart says it is laying off employees; a source says the layoffs affect less than 5% of a workforce of more than 10,000 employees

 
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