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12:25 PM ET, September 26, 2008

memeorandum

 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 …
RELATED:
The Politico:
McCain will go to debate  —  Sen. John McCain (R-Ariz.) ended three days of suspense on Friday morning and announced that he will leave bailout negotiations in Washington and fly to Oxford, Miss., for the opening presidential debate.  —  McCain had previously said that he would suspend …
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:
The Caucus:
Debate Is On  —  11:52 a.m. |  Updated: Senator John McCain's campaign said Friday morning that he will attend tonight's debate with Senator Barack Obama at the University of Mississippi, reversing his earlier call to postpone the debate so he could participate in the Congressional negotiations …
Hugh Hewitt / Townhall.com:
Memo To House Republicans  —  Here's a shocker: No one likes the risks involved in Paulson 2.0 or the precedent of using so much public money to rescue reckless bankers, both private and semi-private..  —  But there is a very good chance that (1) it will actually make money for the Treasury and …
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 …
Frank James / The Swamp:
House GOP rebranding and bailout clash
CNN:
Bailout package will pass, Bush says
Discussion: MSNBC
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: The Corner and Washington Monthly
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 …
Discussion: Think Progress
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John Paulson / Wall Street Journal:
The Public Deserves a Better Deal  —  The Treasury plan to buy illiquid financial assets has been widely criticized as being unfair to taxpayers, who will have to bear losses ahead of shareholders of the institutions that will be bailed out.  —  There is a better alternative to stabilize the markets …
Discussion: protein wisdom and Washington Post
Chris Cillizza / Washington Post:
McCain Wins Debate
Washington Post:
Debate Still in Limbo as Democrats Blame McCain For Interrupting Process
Discussion: All Spin Zone
Kathleen Parker / National Review:
Palin Problem  —  If at one time women were considered heretical for swimming upstream against feminist orthodoxy, they now face condemnation for swimming downstream — away from Sarah Palin.  —  To express reservations about her qualifications to be vice president — and possibly president — is to risk being labeled anti-woman.
RELATED:
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 …
RELATED:
Binyamin Appelbaum / Washington Post:   Smaller Banks Thrive Out of the Fray of Crisis
Peter S. Goodman / New York Times:
Credit Enters a Lockdown
Discussion: The Foundry
Slate:
SLATE PREDICTS MCCAIN'S NEXT 10 HAIL MARY STUNTS.  —  1. Returns to Vietnam and jails himself.  —  2. Offers the post of “vice vice president” to Warren Buffett.  —  3. Challenges Obama to suspend campaign so they both can go and personally drill for oil offshore.  —  4. Learns to use computer.
Discussion: Political Machine
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: Reason and The Strata-Sphere
RELATED:
White House:
President Bush Discusses Negotiations to Finalize Legislation on the Financial Rescue Package  —  THE PRESIDENT: Good morning.  My administration continues to work with the Congress on a rescue plan.  And we need a rescue plan.  This is — it's hard work.  Our proposal is a big proposal.
RELATED:
Michael Dobbs / Washington Post:
Four Pinocchios for Biden's Tax Fabrication … Democratic vice presidential hopeful Joe Biden claims that middle class Americans will be slapped with the “largest tax increase in American history” as a result of the McCain health care plan.  It is true that McCain has proposed taxing …
Discussion: Hot Air
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 …
Adam Liptak / New York Times:
A Second Justice Opts Out of a Longtime Custom: The ‘Cert.  Pool’  —  WASHINGTON — Justice Samuel A. Alito Jr. is getting out of the pool.  —  For almost 20 years, eight of the nine justices on the Supreme Court have assigned their law clerks to a shared legal labor pool that streamlines the work of reviewing incoming cases.
Discussion: Law Blog and The Volokh Conspiracy
Myglesias / Matthew Yglesias:
Palin on the Bailout  —  Sarah Palin gives her view of the economic crisis:  —  I decline to comment on what this reveals about her fitness for office.
 
 
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 More Items: 
David Ellis / CNNMoney.com:
The credit crunch: Loans out of reach
Discussion: The Corner
Anousha Sakoui / FT Alphaville:
CDS report: Big Mac and fried in the US
Discussion: naked capitalism
Paul Kiel / ProPublica:
Palin Defends Construction of ‘Road to Nowhere’
Discussion: The Huffington Post
Mark Sanford / Washington Post:
A Bailout for All Our Bad Decisions?
Discussion: Townhall.com
The Politico:
McCain's temperament again an issue
Discussion: Marc Ambinder
Jack Fowler / The Corner:
ACORN — NUTS!  —  So a huge chunk of this proposed bailout …
Discussion: PR Newswire
David Kurtz / Talking Points Memo:
CHANNELING HERBERT HOOVER
Discussion: Spin Cycle
 Earlier Items: 
John McCormack / Weekly Standard:
Barney Frank Slams McCain
Discussion: The Hill and The Crypt's Blogs
Betsy Rothstein / The Hill:
20 Questions: Ron Reagan
Discussion: The Moderate Voice
Reason:
The Great Bailout Brouhaha
Discussion: QandO, EconLog and The Other McCain
CBS News:
Poll: Obama Leads; Interest In Debate High
Washington Post:
Palin Accepted $25,000 in Gifts, Alaska Records Show
Discussion: TPMMuckraker, New York Times and MSNBC