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Democrats Set Terms as Bailout Debate Begins — WASHINGTON — Congressional Democrats began to set their own terms on Sunday for a plan to rescue the nation's financial institutions, including greater legislative oversight of the Treasury Department, more direct assistance for homeowners …
Discussion:
The Caucus, The Next Right, The Agonist, Washington Wire, The American Mind, The RBC, The Moderate Voice, Truthdig, TIME.com, Needlenose and MyDD
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2 Candidates Back Bailout, With Caveats — PHILADELPHIA — Senators John McCain and Barack Obama warned Sunday that there should be more oversight built into the government's $700 billion plan to stabilize the financial markets but said the potentially enormous expenditure would not force …
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Big Financiers Start Lobbying for Wider Aid — Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it. — Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.
Discussion:
Mish's Global Economic …, AMERICAblog News, PrestoPundit, TPMCafe, naked capitalism and RADAMISTO
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Before D.C. Gets Our Money, It Owes Us Some Answers
Discussion:
EconoPundit, Dean's World, Buck Naked Politics, At-Largely, The Hill's Blog Briefing Room and Hot Air
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Hope, Change, & Lies: Orchestrated “Grassroots” Smear Campaigns & the People that Run Them — Extensive research was conducted by the Jawa Report to determine the source of smears directed toward Republican Vice Presidential candidate Sarah Palin. Those smears included false allegations …
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Cash for Trash — Some skeptics are calling Henry Paulson's $700 billion rescue plan for the U.S. financial system “cash for trash.” Others are calling the proposed legislation the Authorization for Use of Financial Force, after the Authorization for Use of Military Force …
Discussion:
Swampland, The Mahablog, Balkinization, Economist's View, American Street, Hullabaloo and Calculated Risk
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Palin draws crowd of 60,000 in The Villages — THE VILLAGES — Republican vice presidential nominee Sarah Palin told wildly cheering, flag-waving, chanting supporters that John McCain is “the only great man in this race” and promised Sunday he will fix the nation's economy if voters give the GOP four more years in the White House.
Discussion:
pandagon.net, TBogg, NewsBusters.org, Patterico's Pontifications, GINA COBB, The Jed Report, Riehl World View and The Strata-Sphere
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Palin wows 'em in The Villages — THE VILLAGES - With thousands of supporters packing the streets and sidewalks of this massive retirement community, Alaska Gov. Sarah Palin took the safe route Sunday and said she and John McCain would reform Washington, put America on the path to energy independence …
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Loan Titans Paid McCain Adviser Nearly $2 Million — Senator John McCain's campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.
Discussion:
Washington Monthly, The Caucus, AMERICAblog News, Emptywheel, The Peking Duck, The E&P Pub and The RBC
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Politico Intends to Expand After Presidential Race Ends — Politico has grown rapidly from a little-known start-up company to one of the nation's most popular online sources of political news. But it has been riding a wave of interest in a hot presidential campaign, so what happens to Politico after Nov. 4?
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The race discussion Obama didn't want — When the Democratic primary descended into a charged debate about black and white and Sen. Barack Obama's racially polarizing pastor last spring, Obama took the stage to address the question of race head-on. — “Race is an issue that I believe …
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Cuomo For SEC? WTF? — Last week was hardly John McCain's finest moment when, deciding that the Securities and Exchange Commission bore major responsibility for the Wall Street madness, he essentially called for SEC Chairman Chris Cox to be fired. — (Perhaps it was my imagination …
Discussion:
Spin Cycle
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Goldman, Morgan to Become Bank Holding Companies — Goldman Sachs and Morgan Stanley, the last two independent investment banks, will become bank holding companies, the Federal Reserve said Sunday night, a move that will fundamentally alter the landscape of Wall Street.
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The Government and the People Need to Be The Insurer of Last Resort, Not the Idiot of Last Resort — That line comes from an excellent summary of not just how the US got here, but how it can get out without turning the United States into a plutocracy. The plan is simple enough:
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Senator Obama's Statement of Principles for the Treasury Proposal
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Obama: No blank check for Wall St
Discussion:
New York Times, JustOneMinute, Right Wing News, TIME.com, The Moderate Voice and Barack Obama and Joe Biden
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ABC Panel Tears Into McCain: Not Presidential, Age Should Be An Issue — For John McCain, the panel discussion on This Week with George Stephanopoulos could not have been more brutal. — Minutes after conservative columnist George Will declared that the Senator was decidedly un-presidential …
Discussion:
AlterNet.org
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Obama walks the abortion minefield — For the past week, some activists in the abortion rights community have been trying to figure out why Barack Obama, a Democrat praised for his strong defense of reproductive rights, appeared to be turning soft. — Those who work on the front lines …
Discussion:
Power Line
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Shorter Entire Right-Wing Blogosphere … - We agree with Investors' Business Daily, which says that the reason for the current financial crisis is that the Community Reinvestment Act passed by the Democrats forced banks to lend money to a bunch of shiftless darkies who couldn't repay their loans.