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6:10 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:
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: The New Republic and Angry Bear
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.
Bess Levin / Dealbreaker:
Fed [May] Does Offer Bridge Loan To AIG
Discussion: Conglomerate and Centerfield
Stephen Labaton / New York Times:   Some Seek Agency to Buy Bad Debt as Long-Term Answer
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake
Discussion: LewRockwell.com Blog
Myglesias / Matthew Yglesias:   The Commanding Heights
Megan McArdle:   Hindsight regulation … But I don't blame it on Clinton.
DealBook:   Fed to Offer Bridge Loan to A.I.G. and Take Control of Firm
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 …
RELATED:
Washington Wire:   Obama Holds Fund-Raiser in Beverly Hills
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:
Faiz / Think Progress:
McCain reportedly ‘furious’ …
RELATED:
Ed Morrissey / Hot Air:   Alaskan lawmakers to file suit to stop legislative probe run amuck
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 …
RELATED:
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.
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: First Draft and Crooks and Liars
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 …
Kathryn Jean Lopez / The Corner:
Laura Ingraham vs. David Brooks  —  From her daily e-blast:
Media Matters for America:
Limbaugh: “Troopergate” investigation is “pure sexism,” but Palin “didn't bend over and let” Alaska politicians “have their way”  —  On the September 16 broadcast of his nationally syndicated radio program, Rush Limbaugh said of the investigation into Gov. Sarah Palin's dismissal …
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 and The Right Coast
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.
Ahmed Al-Haj / Associated Press:
Official: US Embassy in Yemen hit by car bomb  —  SAN'A, Yemen (AP) — A car bomb targeting the U.S. Embassy hit the front gate of the compound in Yemen's capital on Wednesday, causing unspecified casualties, a U.S. spokesman said.  —  Ryan Gliha, the embassy spokesman …
 
 
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 More Items: 
Ed Morrissey / Hot Air:
The Silence of the Lemmings  —  Barack Obama's campaign seems …
Mike Madden / Salon:
Sarah Palin's powerful “First Dude”
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
Sean Penn / The Huffington Post:
Country First (or, How The Media Loves A Lipsticked Rumsfeld)
Discussion: The Other McCain
 Earlier Items: 
Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists? …
Tahman Bradley / Political Punch:
Obama Inflates Role in Creation of Stimulus Package
Discussion: Macsmind and Hot Air
Victor Davis Hanson / The Corner:
Reaching Critical Mass
Jonathan Martin / The Politico:
McCain press pack stages mini-insurrection
Discussion: Firedoglake and Newshoggers.com
McCainPedia:
Count the Lies  —  John McCain may be trying to sell himself as a …
Discussion: The Huffington Post
 

 
From Mediagazer:

Caitlin Huston / The Hollywood Reporter:
Internal memo: Hearst Magazines president announces layoffs as part of a decision to “reallocate resources” to “continue our focus on digital innovation”

Lachlan Cartwright / The Ankler:
Sources: MSNBC renewed Rachel Maddow's contract early this fall, but with a pay cut; MSNBC bosses' plan to shake up daytime and weekend programming

Jon Brodkin / Ars Technica:
FCC Chairwoman Jessica Rosenworcel announced she will leave the agency on January 20; she was the first woman to be confirmed to lead the agency

 
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