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:
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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 …
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 …
Discussion:
The Opinionator, pw, TIME.com, American Street, Stop The ACLU and Patterico's Pontifications
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 …
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 …
Board of Governors of the Federal Reserve System:
For release at 9:00 p.m. EDT
For release at 9:00 p.m. EDT
Discussion:
The Swamp, The Glittering Eye, DealBook, Firedoglake, Portfolio, ParaPundit, Mish's Global Economic …, Paul Kedrosky's …, Time and Concurring Opinions
Wall Street Journal:
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash …
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash …
Discussion:
USA Today, New York Times, Real Time Economics, About.com US Politics, Real Clear Politics, Pajamas Media, Portfolio and Conglomerate
Michelle Malkin:
Mother of all bailouts: $85 billion to AIG
Mother of all bailouts: $85 billion to AIG
Discussion:
The Hill's Blog Briefing Room, FP Passport, pandagon.net, The American Mind and Megan McArdle
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
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.
Anne Sutton / Associated Press:
McCain campaign clamps down on questions in Alaska — JUNEAU, Alaska - GOP vice presidential candidate Sarah Palin is effectively turning over questions about her record as Alaska's governor to John McCain's political campaign, part of an ambitious Republican strategy to limit …
Discussion:
Balloon Juice
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Faiz / Think Progress:
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 Palin were capable of running a major corporation (she said the same of Barack Obama and Joseph Biden).
Discussion:
Christian Science Monitor
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 …
Devlin Barrett / Associated Press:
Clinton blindsided by scheduled event with Palin — WASHINGTON (AP) — Sen. Hillary Rodham Clinton has canceled an appearance at a New York rally next week after organizers blindsided her by inviting Republican vice presidential candidate and Alaska Gov. Sarah Palin, aides to the senator said Tuesday.
Discussion:
Jonathan Martin's Blogs
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Colum Lynch / Washington Post:
As Palin Joins Planned Protest Against Iran, Clinton Cancels
As Palin Joins Planned Protest Against Iran, Clinton Cancels
Discussion:
Ben Smith's Blogs
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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Myglesias / Matthew Yglesias:
Strong Fundamentals — Eric Rauchway reflects on Herbert Hoover's October 25, 1929 proclamation that “The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis.” … Now of course to actually get down to the depths …
Discussion:
Eschaton
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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.
Discussion:
MiamiHerald.com
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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 …
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Ellen Knickmeyer / Washington Post:
U.S. Embassy in Yemen Attacked — Attackers exploded a vehicle bomb outside the main gate of the U.S. Embassy in Yemen on Wednesday in what appeared to be a well-coordinated assault that triggered more explosions and heavy gunfire around the compound. — Yemen's official Saba news agency …
Discussion:
The Strata-Sphere
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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 …
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 …
Roxana Tiron / The Hill:
Even on trial, Stevens pulls in earmarks — Sen. Ted Stevens (R-Alaska) is busy fending off federal charges and scrambling to retain his seat, but that hasn't affected his appetite for earmarks. — Stevens has secured the most earmarks in the Senate defense appropriations bill, according to an analysis by The Hill.
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 …