Top Items:
Paul Krugman:
No deal — I hate to say this, but looking at the plan as leaked, I have to say no deal. Not unless Treasury explains, very clearly, why this is supposed to work, other than through having taxpayers pay premium prices for lousy assets. — As I posted earlier today, it seems all too likely that a …
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New York Times:
Text of Draft Proposal for Bailout Plan — LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS — Section 1. Short Title. — This Act may be cited as ____________________. — Sec. 2. Purchases of Mortgage-Related Assets.
Discussion:
Firedoglake, Dealbreaker, Mish's Global Economic …, TPMCafe, The RBC, Law Librarian Blog, The Caucus and PointOfLaw Forum
David M. Herszenhorn / New York Times:
Administration Is Seeking $700 Billion for Wall Street Bailout — WASHINGTON — The Bush administration on Saturday formally proposed to Congress what could become the largest financial bailout in United States history, requesting unfettered authority for the Treasury Department to buy up to $700 billion in mortgage-related assets.
Larisa Alexandrovna / The Huffington Post:
Welcome to the final stages of the coup... In 2000, the long fought for and long admired democracy of the United States of America began a slow and steady decline toward fascism - a Bush family tradition - with the installment of a president - a man the citizens overwhelmingly rejected …
Discussion:
At-Largely
Calculated Risk:
Bailout Proposal — Here is the proposal so far: (hat tip Michael)
Discussion:
Emptywheel, Newshoggers.com, Open Left, ECHIDNE OF THE SNAKES, The Impolitic, American Street, Daily Kos and Mathew Gross
Glenn Greenwald / Salon:The complete (though ever-changing) elite consensus over the financial collapse
Elizabeth Williamson / Wall Street Journal:
Lobbyists Scramble to Sway Deal — WASHINGTON — Titans of the financial industry are battling to influence the government's financial rescue plan, a package that will create new winners and losers in the sector. — Democrats in Congress want a rescue package that benefits homeowners at risk for foreclosure, not just Wall Street.
Discussion:
Talking Points Memo
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Peter Baker / New York Times:
A Professor and a Banker Bury Old Dogma on Markets — WASHINGTON — For the last year, as the nation's economy lurched from crisis to crisis, the chairman of the Federal Reserve, Ben S. Bernanke, had been warning Henry M. Paulson Jr., the Treasury secretary, that the worsening situation might ultimately force …
Peter S. Goodman / New York Times:But Will It Work? — As the federal government steps to the center …
Discussion:
BAGnewsNotes
Patrick Healy / New York Times:
Pact on Debates Will Let McCain and Obama Spar — The Obama and McCain campaigns have agreed to an unusual free-flowing format for the three televised presidential debates, which begin Friday, but the McCain camp fought for and won a much more structured approach for the questioning …
Associated Press:
Poll: Racial misgivings of whites an Obama issue — WASHINGTON (AP) — Deep-seated racial misgivings could cost Barack Obama the White House if the election is close, according to an AP-Yahoo News poll that found one-third of white Democrats harbor negative views toward blacks — many calling them …
Discussion:
The New Republic, Marc Ambinder, Riehl World View, The Gun Toting Liberal, NewsBusters.org, Scared Monkeys, Outside The Beltway, Lonewacko, Newshoggers.com, Gateway Pundit, Oliver Willis, Sweetness & Light, Jules Crittenden, The Moderate Voice, www.redstate.com, Althouse, JammieWearingFool, Washington Wire, Donklephant, Wake up America, Q: Florida Politics, Macsmind and A Blog For All
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Julia Hoppock / Political Punch:
Oh, That Joe! (No. 14 in a Series) - Biden Says Obama Won't Take His Beretta — Sen. Barack Obama better not mess with his running mate Joe Biden's guns...or else. — In an out-of-nowhere attempt to re-assure a southwestern Virginia labor crowd about gun owners' rights, Biden …
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Jo Mannies / St. Louis Post-Dispatch:McCain takes slight lead in Mo., new poll finds
Discussion:
FiveThirtyEight.com
Mark Leibovich / New York Times:Meanwhile, the Other No. 2 Keeps On Punching
Discussion:
Washington Post, Brian Beutler, Townhall.com, Althouse, Matthew Yglesias and On Deadline
Brooks Jackson / FactCheck.org:
Obama's Social Security Whopper — He tells Social Security recipients their money would now be in the stock market under McCain's plan. False. — In Daytona Beach, Obama said that “if my opponent had his way, the millions of Floridians who rely on it would've had their Social Security tied up in the stock market this week.”
Discussion:
The Swamp
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CNN:
Cheney must preserve records, judge orders — WASHINGTON (CNN) — Vice President Dick Cheney must preserve a broad range of records from his time in office, a federal judge ordered Saturday, ruling in favor of a private watchdog group. — U.S. District Judge Colleen Kollar-Kotelly found …
Discussion:
The Moderate Voice
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Gallup:
Gallup Daily: Obama 50%, McCain 44% — PRINCETON, NJ — Gallup Poll Daily tracking from Wednesday through Friday finds Barack Obama maintaining his lead over John McCain among registered voters, by a 50% to 44% margin. — Obama has held at least a small margin over McCain in each …
Discussion:
The Moderate Voice, The Impolitic, Daily Kos, Booman Tribune, MyDD, Liberal Values, Taylor Marsh, skippy the bush kangaroo and Donklephant
Josh Marshall / Talking Points Memo:
BEFORE WE JUMP IN — There are subjects I know a lot about and others I know very little about. And the high-wire financial mess we're currently in falls clearly into the latter category. But I know enough to be troubled that we appear ready to give upwards of a trillion dollars in unfettered …
Discussion:
Eschaton
Jesse McKinley / New York Times:
Same-Sex Marriage Ban Is Tied to Obama Factor — SAN FRANCISCO — Could Senator Barack Obama's popularity among black voters hurt gay couples in California who want to marry? — That is the concern of opponents of Proposition 8, a measure on the November ballot that would amend …
John Amato / Crooks and Liars:
Rachel Maddow's ratings are incredible — If only MSNBC would have listened to us months ago, but at least she's there now. Move over Larry King, there's a new girl in town....Her ratings even beat Countdown a few times. — It's nice to see and we hope you will continue to tune in.
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