Top Items:
Mike Allen / The Politico:
Bush changes mind, may save auto giants — Facing the potential bankruptcy of iconic American firms, President Bush on Friday abandoned his longstanding objection to using using the Wall Street bailout fund to help save G.M. and Chrysler. — A frustrated Republican congressional official said …
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White House:
Statement by Press Secretary Dana Perino — It is disappointing that while appropriate and effective legislation to assist and restructure troubled automakers received majority support in both houses, Congress nevertheless failed to pass final legislation. The approach in that legislation provided …
Associated Press:
$14B auto bailout dies in Senate — WASHINGTON - A bailout-weary Congress killed a $14 billion package to aid struggling U.S. automakers Thursday night after a partisan dispute over union wage cuts derailed a last-ditch effort to revive the emergency aid before year's end.
Steve Benen / Washington Monthly:
‘THE PARTY OF HERBERT HOOVER’.... On Wednesday, Dick Cheney met with Senate Republicans and emphasized the importance of keeping the American automotive industry afloat. “If we don't do this, we will be known as the party of Herbert Hoover forever,” the vice president said.
Discussion:
The Hill's Blog Briefing Room, Los Angeles Times, Left in the West, PoliBlog, Wonk Room, RedState and Shakesville
Pan Pylas / Associated Press:
World markets plunge as US auto bailout fails — LONDON - World stock markets plunged Friday as the U.S. Senate's rejection of a $14 billion deal to rescue Detroit's ailing automakers stoked concerns that the recession in the world's largest economy will be even longer and deeper than projected.
Discussion:
The RBC
Wall Street Journal:
Rescue Bid for Detroit Collapses in Senate — WASHINGTON — A frantic, last-ditch attempt to forge a relief package for the auto industry collapsed in the U.S. Senate, dealing a giant blow to the immediate hopes of the Big Three. — Senate Majority Leader Harry Reid of Nevada suggested …
Eli Saslow / Washington Post:
Obama Worked to Distance Self From Blagojevich Early On — Like every other politician in Illinois, Gov. Rod Blagojevich waited for Barack Obama's call this summer. He told colleagues that he expected a speaking role at the 2008 Democratic National Convention, a nice bit of payback …
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Carrie Budoff Brown / The Politico:
Rendell slams Obama over Blago — Pennsylvania Gov. Ed Rendell today criticized Barack Obama for not being more upfront about the Illinois corruption scandal. — Now, he said, the story will continue to dominate the media's attention. — “They have never been in an executive position before …
The Politico:
Obama damage control — He was elected president on a promise of “transparency” but barely five weeks later, Barack Obama is scrambling to meet his first big test on openness. — Obama's campaign lawyer Bob Bauer is taking a leading role in conducting what one top aide described as …
CNN:
Illinois Democratic lawmakers begin impeachment effort for gov — CHICAGO, Illinois (CNN) — Key Illinois Democratic legislators are circulating a letter urging support for the impeachment of Gov. Rod Blagojevich, who was arrested this week on federal corruption charges relating in part …
Chicago Sun Times:
Obama chief of staff Rahm Emanuel ducks reporters' questions — President-elect Barack Obama's chief of staff, Rahm Emanuel, refused to take questions from reporters this morning about whether he was the Obama “advisor” named in the criminal complaint against Gov. Rod Blagojevich.
Chicago Tribune:
Blagojevich fundraiser held by Jackson allies Saturday — As Gov. Rod Blagojevich was trying to pick Illinois' next U.S. senator, businessmen with ties to both the governor and U.S. Rep. Jesse Jackson Jr. discussed raising at least $1 million for Blagojevich's campaign as a way to encourage …
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New York Times:
Prominent Trader Accused of Defrauding Clients — On Wall Street, his name is legendary. With money he had made as a lifeguard on the beaches of Long Island, he built a trading powerhouse that had prospered for more than four decades. At age 70, he had become an influential spokesman …
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Amanda Terkel / Think Progress:
Powell lashes out at Palin: I'm from the South Bronx, 'and there's nothing wrong with my value system.' — In an interview with CNN's Fareed Zakaria that will air this weekend, former Secretary of State Colin Powell sharply criticized the Republican party and its “value system,” taking particular aim at Gov. Sarah Palin (R-AK):
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Charles Krauthammer / Washington Post:
The Real Obama — Barack Obama has garnered praise from center to right — and has highly irritated the left — with the centrism of his major appointments. Because Obama's own beliefs remain largely opaque, his appointments have led to the conclusion that he intends to govern from the center.
New York Times:
What's Plan B? — Senate Republicans determined to block the $14 billion rescue package for Chrysler and General Motors have trotted out predictable rhetoric about the dangers of Big Government. Senator Mitch McConnell of Kentucky, the Republican leader, warned on Thursday that …
Chicago Tribune:
Sam Zell's financial adviser at Tribune Co. was middleman sought by Blagojevich — Governor sought to withhold Wrigley Field funds unless Chicago Tribune fired editorial writers critical of him, complaint says — As Tribune Co. acknowledged Thursday that it received a federal subpoena …
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