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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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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 …
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New York Times, Los Angeles Times, The Caucus, Guardian, New York Times, Connecting.the.Dots, TIME.com and AMERICAblog News
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 …
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 …
Washington Post:
U.S. Seizes Control of AIG With $85 Billion Emergency Loan — Insurer's Wide Reach Justifies Intervention, Fed Says — Invoking extraordinary powers granted after the 1929 stock market crash, the government seized control of the insurance giant American International Group to preserve …
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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USA Today, New York Times, Pajamas Media, Real Time Economics, Real Clear Politics, Portfolio, Centerfield and Conglomerate
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.
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The Swamp, Calculated Risk, DealBook, ParaPundit, Firedoglake, Portfolio, Mish's Global Economic …, Time, Paul Kedrosky's … and Concurring Opinions
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
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
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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 …
Anne Sutton / Associated Press:
McCain campaign clamps down on questions in Alaska
McCain campaign clamps down on questions in Alaska
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Balloon Juice
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.
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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The Caucus, No More Mister Nice Blog, The Other McCain, Blue Crab Boulevard and Commentary
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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 …
Discussion:
Neptunus Lex, Classical Values, The Other McCain, Barack Obama and Joe Biden and protein wisdom
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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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Stop The ACLU, The Crypt's Blogs, Maggie's Farm, Macsmind, Wake up America and Michelle Malkin
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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Ace / Ace of Spades HQ:
Democrats Go There — I'm sure Keith Olbermann will be angered to tears over exploiting this tragedy. — So long as we know what the ground rules are, fine. We'll start running commercials accusing Democrats of dishonoring the dead. (F**k that— let's have some now-out-of-the-service vets explain …
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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Ruth Marcus / Washington Post:
True Whoppers — Economists are not generally known for their lyrical phrasing. But the other day, one told me something about the election that has stuck with me: He cautioned against succumbing to the “symmetry of sin.” — This unexpected snippet of political poetry …
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Daily Kos