memeorandum: Bailout dead, automakers in search of a lifeline (Associated Press)

1:05 PM ET, December 12, 2008

Top Items:

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 …

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 …

Discussion: Firedoglake, Washington Monthly, Los Angeles Times, Power Line, Taylor Marsh, Media Matters for America, New York Times, Wall Street Journal, Taegan Goddard's …, TPMCafe, MSNBC, NewsBusters.org, Associated Press, TIME.com, The Corner, Gawker and Prairie Weather

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 …

Discussion: The Swamp, NewsBusters.org, Washington Post and Associated Press

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 …

Discussion: Ben Smith's Blogs, The Note, protein wisdom and Weekly Standard

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 …

Discussion: Michael Calderone's Blogs

John Kass / Chicago Tribune:
Man behind curtain is wizard of Rod, Rahm

Discussion: Gateway Pundit and Don Surber

Chicago Sun Times:
What's next for Jesse Jackson Jr.?

Discussion: TIME.com and Political Machine

Eugene Robinson / Washington Post:
A Playbook to Change — In handling questions about the arrest …

Discussion: Los Angeles Times, Wall Street Journal, Real Clear Politics, Associated Press and Commentary

Christopher Wills / Associated Press:
Illinois AG asks high court to declare gov. unfit

Discussion: Hot Air, Associated Press and USA Today

Chicago Sun Times:
Obama chief of staff Rahm Emanuel ducks reporters' questions

Discussion: The Hill's Blog Briefing Room, GINA COBB, QandO, theheretik.us, Political Machine, RedState, JammieWearingFool, Fox News and Top of the Ticket

CNN:
Illinois Democratic lawmakers begin impeachment effort for gov

Discussion: Washington Monthly and TPM Election Central

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: MoJoBlog, The Hill's Blog Briefing Room, Booman Tribune, Bloomberg, The Washington Independent, Washington Post, PoliBlog, Newshoggers.com, RedState and Wonk Room

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 …

Discussion: Connecting.the.Dots, Don Surber and Prairie Weather

Pan Pylas / Associated Press:
World markets plunge as US auto bailout fails

Discussion: Hot Air and The Other McCain

Associated Press:
$14B auto bailout dies in Senate

Discussion: MoJoBlog, The Huffington Post, Wall Street Journal, Newshoggers.com, New York Times, The Mahablog, Hot Air, Right Wing News, Robert Reich's Blog, The Campaign Spot, Wake up America, Outside The Beltway, LiberalOasis, The Monkey Cage and Alas, a blog

David Rogers / The Politico:
Bailout failure shows leadership vacuum

Discussion: The Caucus and The Crypt's Blogs

The Huffington Post:
Hale “Bonddad” Stewart: The Republicans Want A Depression

Discussion: Guardian, Fausta's Blog and nber.org

Associated Press:
Bailout dead, automakers in search of a lifeline

Discussion: Outside The Beltway and Associated Press

Jim Puzzanghera / Los Angeles Times:
Senate Republicans kill auto bailout bill

Discussion: Crooks and Liars, Time, Left in the West, AMERICAblog News, Washington Monthly, The Note and Shakesville

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 …

Discussion: The Foundry, Associated Press, Commentary and Michelle Malkin

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 …

Discussion: Reason, The Swamp, Reuters and Pajamas Media

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):

CNN:
Powell: GOP ‘polarization’ backfired in election

Discussion: NewsBusters.org, JammieWearingFool, Erick's blog, Right Wing News, Pam's House Blend and Wizbang

Wall Street Journal:

Top Broker Accused of $50 Billion Fraud — Sons Turned In Madoff After He Allegedly Told Them His Investment-Advisory Business for the Wealthy Was ‘Giant Ponzi Scheme’ — Bernard L. Madoff, a former chairman of the Nasdaq Stock Market and a force in Wall Street trading for nearly 50 years …

Discussion: TPMMuckraker, Reuters, Bloomberg, Moonbattery, naked capitalism, Boing Boing, Pajamas Media and The Swamp

New York Times:
Prominent Trader Accused of Defrauding Clients

Discussion: The Huffington Post, U.S. Securities …, The Washington Independent and theheretik.us

Chicago Breaking News:

Madigan to court: Declare Blagojevich unfit — Atty. Gen. Lisa Madigan filed a motion with the Illinois Supreme Court today aimed at removing Gov. Rod Blagojevich from office. — A spokesman for the state Supreme Court confirmed that Madigan filed the motion this morning.

Discussion: TIME.com, The Capitol Fax Blog and Real Clear Politics

Todd S. Purdum / New York Times:

Robin Toner, Times Reporter, Is Dead — Robin Toner, who was the first woman to be the national political correspondent of The New York Times and who had a significant hand in the coverage of five presidential elections, innumerable Congressional and gubernatorial campaigns …

Discussion: Michael Calderone's Blogs and Swampland

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.

Discussion: Swampland and Betsy's Page

Josh Marshall / Talking Points Memo:

THOUGHTS ON THE BAILOUT FLAMEOUT — A few thoughts on this morning's news. — Not surprisingly, with this morning's news, we're getting more than a few emails arguing that the Democrats, in their new position of strength, should weaken or entirely do away with the filibuster — i.e. …

Discussion: Bob Cesca's Awesome Blog!