Top Items:
New York Times:
Fate of Bailout Plan Remains Uncertain — WASHINGTON — The day began with an agreement that Washington hoped would end the financial crisis that has gripped the nation. It dissolved into a verbal brawl in the Cabinet Room of the White House, urgent warnings from the president and pleas …
Discussion:
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New York Times:
McCain Leaps Into a Thicket — Senator John McCain had intended to ride back into Washington on Thursday as a leader who had put aside presidential politics to help broker a solution to the financial crisis. Instead he found himself in the midst of a remarkable partisan showdown …
The Politico:
Wall Street bailout plan breaks down — Treasury Secretary Henry Paulson left a late-night session at the Capitol Thursday without a deal on the bailout plan the White House says is needed to prevent economic disaster. — Four of the five parties involved in the deal — House Democrats …
Ed Morrissey / Hot Air:
The Democratic ACORN bailout; Update: Video added — House Republicans refused to support the Henry Paulson/Chris Dodd compromise bailout plan yesterday afternoon, even after the New York Times reported that Treasury Secretary Henry Paulson got down on one knee to beg Nancy Pelosi to compromise.
William Kristol / Weekly Standard:
McCain's Choice — Is there a third way? — The McCain campaign is now trying to broker a deal between House Republicans, Treasury Secretary Paulson, and the Democrats. This will be tough—but it's worth a shot. — If it works, fine. If it fails, McCain will have, I think, three alternative paths:
Justin Fox / The Curious Capitalist:The Republican alternatives to the Paulson bailout
Discussion:
Matthew Yglesias, Econbrowser, Newshoggers.com, Bubble Meter, Angry Bear, Economist's View, The Crypt's Blogs and Balloon Juice
David Brooks / New York Times:
Thinking About McCain — I've been covering John McCain steadily for a decade. A few years ago, I worked on a book, which I foolishly never completed, on the U.S. Senate with McCain as the central character. So when I step back and think of McCain, even in the heat of this campaign …
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The New Republic:
Putting Country Last — I don't know John McCain as well as David Brooks does. In fact, I don't know him personally at all. But I covered his 2000 and 2008 primary campaigns, and I spent considerable time interviewing him, including several long interviews I did for a profile in 2006.
Discussion:
Washington Monthly
Gateway Pundit:
Missouri Sheriffs & Top Prosecutors Form Obama “Truth Squads” & Threaten Libel Charges Against Obama Critics — More Hope and Change for Missouri... St. Louis and Missouri Democrat sheriffs and top prosecutors are planning to go after anyone who makes false statements against Obama during his campaign.
Discussion:
The Strata-Sphere
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Glenn Reynolds / Pajamas Media:
MORE THUGGISHNESS: Obama threatening the licenses of TV stations that run NRA ads. — Haven't we had about enough of this? Related item here. They told me that if George W. Bush were re-elected there would be brazen efforts to suppress free speech on political grounds — and they were right!
Discussion:
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New York Times:
Government Seizes WaMu and Sells Some Assets — Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators on Thursday night, in what is by far the largest bank failure in American history.
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Paul Krugman / New York Times:
Where Are the Grown-Ups? — Many people on both the right and the left are outraged at the idea of using taxpayer money to bail out America's financial system. They're right to be outraged, but doing nothing isn't a serious option. Right now, players throughout the system are refusing …
Washington Post:
Away from Wall Street, Economists Question Basis of Paulson's Plan — The Bush administration's pitch for a sweeping bailout of the financial system has centered on two simple premises: that the economy could suffer a crippling downturn if action is not taken very quickly and that this action …
Washington Post:
Palin Accepted $25,000 in Gifts, Alaska Records Show — Alaska Gov. Sarah Palin, who has made a crackdown on gift-giving to state officials a centerpiece of her ethics reform agenda, has accepted gifts valued at $25,367 from industry executives, municipalities and a cultural center whose …
Fox News:
Huckabee Calls McCain Debate Ploy a ‘Huge Mistake’ — MOBILE, Ala. — Former Arkansas Gov. Mike Huckabee said Thursday that Sen. John McCain made a “huge mistake” by even discussing canceling the presidential debate with Sen. Barack Obama. — McCain's campaign has said the Republican …
David Kurtz / Talking Points Memo:
CHANNELING HERBERT HOOVER — John Harwood on CNBC: McCain will own any market sell-off today. — Dow dropped 130 points in first two minutes of trading ...
Discussion:
Spin Cycle
Think Progress:
ThinkProgress Liveblogging Tonight's Presidential Debate — Whether or not Sen. John McCain (R-AZ) decides to show up to tonight's presidential debate at the University of Mississippi — we'll have you covered. — The entire ThinkProgress team — including the Wonk Room and Matt Yglesias …
Patrick Healy / New York Times:
In a Time of Crisis, Is Obama Too Cool? — DUNEDIN, Fla. — Where many politicians would have aspired to show anger, Senator Barack Obama spoke in a soft, even tone as he reached the crescendo of his speech Wednesday about government mismanagement of the economy.
Jo Mannies / St. Louis Post-Dispatch:
Mo voters oppose bailout, but want help for mortgage industry, poll shows — Missouri voters say they oppose a government bailout of major financial institutions, but they support key elements of the plan being hashed out in Washington. — And a majority aren't sure which presidential candidate …
Betsy Rothstein / The Hill:
20 Questions: Ron Reagan — As the son of the late President Ronald Reagan, Ron Reagan has one of the most famous names in America. Reagan, a known liberal, recently signed on with Air America for a show that airs from 8 to 9 p.m. EST. He has taken over the slot previously filled by host Rachel Maddow …
Discussion:
The Moderate Voice
David Deming / Edmond Sun:
Why Obama will lose — EDMOND — When Benjamin Franklin was dispatched to France as ambassador of the United States in 1776, he won the hearts of the French through his authenticity. Rather than take on an affected and phony continental style, Franklin eschewed the powdered wig …
Reason:
The Great Bailout Brouhaha — Free market economists weigh in on Paulson's plan — As Congress and President Bush set to “hammering out the details” of a proposed $700 billion bailout for investment banks, reason asked free-market-friendly economists three pressing questions …
Discussion:
EconLog
John McCormack / Weekly Standard:
Barney Frank Slams McCain — Politico's Patrick O'Connor reports that Democratic House financial services committee chairman Barney Frank slammed John McCain for engaging in the bailout negotiations: … Why does Barney Frank think he's in a position to say McCain is unqualified to be at the negotiating table?
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