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10:20 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:
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 …
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 …
New York Times:
Mr. McCain and the Economy  —  John McCain spent Monday claiming as he had countless times before — that the economy was fundamentally sound.  Had he missed the collapse of Lehman Brothers or the sale of Merrill Lynch, which were announced the day before?  Did he not notice the agonies of the American Insurance Group?
Washington Post:
U.S. Seizes Control of AIG With $85 Billion Emergency Loan
Calculated Risk:
Comment on Crisis: Necessary Steps
Discussion: Economist's View and Corrente
Bess Levin / Dealbreaker:
Fed [May] Does Offer Bridge Loan To AIG
Discussion: Centerfield
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 …
RELATED:
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).
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.
RELATED:
Colum Lynch / Washington Post:
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 …
RELATED:
Washington Wire:
Obama Holds Fund-Raiser in Beverly Hills
Discussion: Perez Hilton
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 …
Discussion: Grasping Reality …
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
RELATED:
Eric Rauchway / American Prospect:
McCain's Dangerous Do-Nothing Economics
Discussion: Paul Krugman
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:
Simon / Classical Values:
THE BEST CONGRESS FANNIE COULD BUY
Discussion: NO QUARTER and CANNONFIRE
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
RELATED:
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
RELATED:
Ahmed Al-Haj / Associated Press:   Official: US Embassy in Yemen hit by car bomb
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 …
Discussion: Power Line and Hot Air
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.
 
 
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 More Items: 
Russell Berman / Latest Politics:
McCain Slips in Citing Investor Protection Agency
New York Magazine:
Lynn Sweet and Patrick Healy on Connecting McCain and Bush …
Ed Morrissey / Hot Air:
The Silence of the Lemmings  —  Barack Obama's campaign seems …
Mike Madden / Salon:
Sarah Palin's powerful “First Dude”
 Earlier Items: 
Dave / Ace of Spades HQ:
Rumor: McCain Supposedly Mulling Endorsing the Gang of Ten …
Discussion: Doug Ross
Kathryn Jean Lopez / The Corner:
Laura Ingraham vs. David Brooks
Philip Gourevitch / New Yorker:
THE STATE OF SARAH PALIN
Discussion: MoJoBlog
Tahman Bradley / Political Punch:
Obama Inflates Role in Creation of Stimulus Package
Discussion: Riehl World View, Macsmind and Hot Air
 

 
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”

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

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

 
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