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12:05 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:
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:
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 …
Frank James / The Swamp:
House GOP rebranding and bailout clash
Discussion: The Crypt's Blogs
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 …
RELATED:
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
RELATED:
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 …
Washington Post:
Debate Still in Limbo as Democrats Blame McCain For Interrupting Process
Discussion: All Spin Zone
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
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:
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.
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 …
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.
The Politico:
McCain's temperament again an issue  —  When John McCain announced Wednesday that he was suspending his campaign to tend to the nation's economic crisis, a top aide said McCain wanted the presidential candidates and members of Congress to “lock themselves in a room for the next 100 hours” to achieve “consensus on something.”
Discussion: Marc Ambinder and AMERICAblog News
Greg Sargent / TPM Election Central:
Obama Spokesman: McCain Campaign Telling TV Stations To Start Re-Airing Ads On Saturday  —  So how long is the McCain campaign really yanking its ads for amid McCain's “suspension” of his campaign to deal with the financial crisis?  —  Well, until Saturday, it appears — whether or not the financial crisis is resolved.
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.
Jack Fowler / The Corner:
ACORN — NUTS!  —  So a huge chunk of this proposed bailout is going to end up in the coffers of the Association of Community Organizations for Reform Now?  Before you do anything else, check out this report - “ACORN's Hypocritical House of Cards: How One “Community” Group Helped …
Discussion: PR Newswire
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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 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
Adam Liptak / New York Times:
A Second Justice Opts Out of a Longtime Custom: The ‘Cert. Pool’
Discussion: The Volokh Conspiracy
Mark Sanford / Washington Post:
A Bailout for All Our Bad Decisions?
Discussion: Townhall.com
David Kurtz / Talking Points Memo:
CHANNELING HERBERT HOOVER
Discussion: Spin Cycle
 Earlier Items: 
Juliet Eilperin / Washington Post:
Carbon Is Building Up in Atmosphere Faster Than Predicted
Discussion: Booman Tribune
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
Patrick Healy / New York Times:
In a Time of Crisis, Is Obama Too Cool?
Discussion: MSNBC and Comments from Left Field
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
 

 
From Mediagazer:

Max Tani / @maxwelltani:
Memo: WaPo's Matt Murray lays out plans for WP Ventures, the “third newsroom”; Krissah Thompson will be editor and Samantha Henig will be general manager

Jack Dunn / Variety:
Trump appoints Mark Burnett, the British TV executive who created and produced the reality show The Apprentice, as a special envoy to the UK

Jessica Toonkel / Wall Street Journal:
A deep dive into Paramount's sale to Skydance; sources: Skydance may integrate Pluto into Paramount+, and CBS head George Cheeks is expected to be head of TV

 
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