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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 …
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 …
Glen Johnson / Associated Press:
McCain has 2 faces: Washington in- and outsider — VIENNA, Ohio (AP) — John McCain embraces and expels Washington like an accordion player belting out a song. — Squeeze in and he touts his vast knowledge of the capital city. Draw out and he casts himself a reformer bent on changing its ways.
Discussion:
The Raw Story
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?
Board of Governors of the Federal Reserve System:For release at 9:00 p.m. EDT
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The Swamp, Portfolio, The Glittering Eye, DealBook, Firedoglake, ParaPundit, Mish's Global Economic … and Paul Kedrosky's …
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 …
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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 …
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Think Progress, Washington Monthly, Christian Science Monitor, pandagon.net, www.redstate.com and TBogg
Robert F. Worth / New York Times:
16 Die in Attack on U.S. Embassy in Yemen — BEIRUT, Lebanon — Heavily armed militants opened fire on the United States Embassy in Sana, Yemen, on Wednesday and detonated a car bomb at its gates, in an attack that left at least 16 people dead including six of the attackers, Yemeni officials said.
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Ahmed Al-Haj / Associated Press:16 dead in car bomb, ambush at US Embassy in Yemen
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Townhall.com
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.
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Colum Lynch / Washington Post:As Palin Joins Planned Protest Against Iran, Clinton Cancels
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Ben Smith's Blogs
Amir Taheri / New York Post:
OBAMA OBJECTS — BUT THE EVIDENCE SAYS I'M RIGHT — CONTINUED — Here is how NBC reported Obama's position on June 16, after his conversation in the US with Iraqi Foreign Minister Hoshyar Zebari: “Obama also told Zebari, he said, that Congress should be involved in any negotiations regarding …
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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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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 …
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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Roger Simon / The Politico:
Can Obama really pull it off? — Can Barack Obama actually blow this thing? Can he actually lose in November? — We have a deeply troubled economy, an unpopular war, a very unpopular president and a historic reluctance on the part of the American people to elect the same party to the White House three terms in a row.
Discussion:
Hugh Hewitt's TownHall Blog
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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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 …
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
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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