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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.
Discussion:
Newshoggers.com, CNNMoney.com, Portfolio, The Caucus, Hullabaloo, Once Upon a Time, Brian Beutler, Matthew Yglesias, Gateway Pundit, Prairie Weather and MyDD
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Calculated Risk:
Bailout Proposal — Here is the proposal so far: (hat tip Michael)
Discussion:
Emptywheel, Newshoggers.com, ECHIDNE OF THE SNAKES, The Impolitic, American Street, Open Left and Mathew Gross
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, Mish's Global Economic …, The RBC, Law Librarian Blog, PointOfLaw Forum and The Caucus
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 …
Glenn Greenwald / Salon:The complete (though ever-changing) elite consensus over the financial collapse
Peter S. Goodman / New York Times:But Will It Work? — As the federal government steps to the center …
Discussion:
BAGnewsNotes
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 …
Discussion:
TalkLeft, JustOneMinute, Calculated Risk, Alas, a blog, The Sideshow, PoliPundit.com, Economist's View and RADAMISTO
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Tom Maguire / JustOneMinute:
K Drum Is Good On The Bail-Out — Kevin Drum has a useful overview of the upcoming bail-out of the financial industry; Krugman provides an interesting hand-wringer, and Dean Baker (as summarized by Mark Thoma) is useless. Let's roll Drum: … Well, yes.
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:
NewsBusters.org, Scared Monkeys, The Gun Toting Liberal, Riehl World View, Newshoggers.com, Outside The Beltway, The Moderate Voice, Gateway Pundit, Wake up America, www.redstate.com, Jules Crittenden, Oliver Willis, Washington Wire, JammieWearingFool, Lonewacko, Sweetness & Light, Althouse, Donklephant, A Blog For All, Q: Florida Politics and Macsmind
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Al Giordano / The Field on the Narcosphere:
The AP's Ron Fournier: Racial Arsonist and Unethical Journalist — 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 …
FactCheck.org:
Scaring Seniors — An Obama-Biden ad says McCain supports “cutting benefits in half” for Social Security recipients. False! — A new Obama ad characterizes the “Bush-McCain privatization plan” as “cutting Social Security Benefits in half.” This is a falsehood sure to frighten seniors who rely on their Social Security checks.
Discussion:
Ben Smith's Blogs, Viking Pundit, The Swamp, Wake up America, MSNBC, Don Surber and TRAIL BLAZERS
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CNN:
Obama hammers McCain over Social Security — DAYTONA BEACH, Florida (CNN) - Barack Obama told voters here that if John McCain became president he would “privatize” their Social Security - a debate over the program that could resurface as a major issue in the closing weeks of the campaign given the wild swings in financial markets.
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 on Friday, but the McCain camp fought for and won a much more structured approach for the questioning …
Carlotta Gall / New York Times:
At Least 40 Are Killed in Blast at Pakistan Hotel — ISLAMABAD, Pakistan — A huge truck bomb exploded at the entrance to the Marriott Hotel in Islamabad on Saturday evening, just a few hundred yards from the prime minister's house, where all the leaders of government were dining after the president's address to Parliament.
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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, MyDD, The Impolitic, Taylor Marsh, Daily Kos, Liberal Values, Booman Tribune, skippy the bush kangaroo and Donklephant
Moira Whelan / democracyarsenal.org:
Does John McCain understand the Army? — Hat Tip to E&P for catching this one and alerting folks to it: … To some, confusing the Army National Guard and the Army would seem a small thing, but to someone with John McCain's family history, this is a pretty big slip up.
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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.
Jeffrey Diamond / ABCNEWS:
Transgendered Woman Wins Sex Discrimination Case — In Potentially Groundbreaking Case, Court Finds Sex Discrimination Law Applies to Transgendered Woman — A transgendered woman, who lost a job offer because of her sexual status, has won a potentially groundbreaking federal sex discrimination lawsuit.
Mark Leibovich / New York Times:
Meanwhile, the Other No. 2 Keeps On Punching — FLAT ROCK, Mich. — As the economy reels, Senator Joseph R. Biden Jr. — the Other Running Mate — has been absolutely butchering Senator John McCain across the Rust Belt this week. It is not clear who has noticed.
Discussion:
Political Punch, Townhall.com, Washington Post, Brian Beutler, Althouse, The Caucus, Matthew Yglesias and On Deadline
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