memeorandum @ 6:00 AM ET, May 7, 2010

6:00 AM ET, May 7, 2010

Top Items:

CNBC:

Stock Selloff May Have Been Triggered by a Trader Error — In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses—all apparently due to a trader error. — According to multiple sources, a trader entered a “b” …

Discussion: Hot Air, TechCrunch, Gawker, Wonkette, Left Coast Rebel, New York Magazine, The Hill and Indecision Forever

Wall Street Journal:

Dow Takes Harrowing 1,010.14-Point Trip — Biggest Point Fall, Before a Snapback; A Data Jumble — Traders work on the floor of the New York Stock Exchange May 6. — A bad day in the financial markets was made worse by an apparent trading glitch, leaving traders and investors nervous …

Discussion: Bloomberg, Associated Press, The Huffington Post, TPMCafe, Ezra Klein, Scared Monkeys, Washington Post, CNBC, Jay Bookman, Vanity Fair, Gothamist, Fausta's Blog and Runnin' Scared

Scott Patterson / Wall Street Journal:
Did Shutdowns Make Plunge Worse?

Discussion: DealBook and Money & Company

Christine Hauser / New York Times:
Markets Plunge, Then Stage a Rebound

Discussion: The Big Picture, Runnin' Scared, Gawker and Gothamist

Alexandra Twin / CNNMoney.com:
Dow falls almost 1000, recovers 600

Discussion: CNN, Crooks and Liars, The Moderate Voice and This Just In

BBC:

UK ‘wakes up to hung Parliament’ — With more than 500 general election results in out of 650, the BBC is predicting a hung Parliament with the Tories as the largest party. — Labour cannot now win a majority, but it is not clear which party will be in a position to form a government.

Discussion: The Daily Dish, Telegraph, The Corner on National …, The Agonist, Talking Points Memo, The Reaction, Gateway Pundit, The Moderate Voice, Taylor Marsh and AmSpecBlog

Andrew Sparrow / Guardian:

General election 2010: results - live! — • Exit poll shows Con 305, Lab 255, LD 61 — • Swing from Labour to Tories so far: 5.2% — • Cameron says Labour has lost mandate to govern — • Former home secretary Charles Clarke loses seat — • Greens win in Brighton, BNP fail to win in Barking

Discussion: Firedoglake, Vanity Fair, MyDD, Clusterstock, THE ASTUTE BLOGGERS and msnbc.com

FiveThirtyEight:

Liveblog: UK Election Returns — 5:20 [Renard] Best the Lib Dems could ask for is legitimacy at this point — something only the Tories would be able to do. Embarrassing losses in Edinburgh South, Oxford East, Devon Central, etc have shown they are not ready yet to be a national force.

Discussion: Guardian, Westminster Blog, Hot Air, The Daily Dish and UK Polling Report

Anthony Wells / UK Polling Report:
About tonight's exit poll

Discussion: Westminster Blog, Pollster.com All Content and Beltway Confidential

Fox News:

Navy SEAL Found Not Guilty of Assaulting a Suspected Terroristyeah, — Military jury found a Navy SEAL not guilty on charges of punching a suspected Iraqi terrorist.

Discussion: CNN, Gateway Pundit, Scared Monkeys, Tammy Bruce, The Greenroom and Confederate Yankee

Michelle Oddis / Human Events:

BREAKING: Navy SEAL McCabe Found Not Guilty — NORFOLK, Va. - Navy SEAL Officer 2nd Class Matthew McCabe was found not guilty Thursday evening on charges of assaulting detained terrorist Ahmed Hashim Abed, dereliction of duty, and impeding an investigation based on a false statement.

Allahpundit / Hot Air:

Breaking: Last Navy SEAL acquitted of abusing Iraqi terrorist; Video: SEAL interview added — He was the only one of the three charged with actual assault, and even so, it took just an hour and 40 minutes to acquit him. Why so quick? Because the prosecution's case collapsed:

Discussion: RealClearPolitics Video Log

Larry O'Dell / Associated Press:
Va. military jury finds Navy SEAL not guilty

Discussion: Top of the Ticket and Weasel Zippers

Sarah Palin / Facebook:

Let's shake it up in California! — I'd like to tell you about a Commonsense Conservative running for office in California this year. She grew up in a modest home with a school teacher dad, worked her way through several colleges, and then entered an arena where few women had tread.

Discussion: Right Now, RedState, Conservatives4Palin.com, The Caucus, PolitiCal, Crooks and Liars, Daily Kos, Liberty Pundits dot net, Power Line, NewsReal Blog, Left Coast Rebel, USA Today, CNN, New York Magazine, The Eye, The Note, Ballot Box and The Daily Caller

Andy Barr / The Politico:
Palin backs Fiorina in California

Discussion: The Atlantic Online, Maggie's Farm, The Note and Hot Air

Andy McCarthy / The Corner on National Review Online:

Disgraceful Leaking — By: Andy McCarthy — As I explained in this post last evening, there seems to have been no good reason to file the arrest complaint against Faisal Shahzad publicly, and to have done so in a way that showed he was cooperating. All that does is alert co-conspirators …

Discussion: NewsReal Blog

ABCNEWS:
Sources: Shahzad Had Contact With Awlaki, Taliban Chief …

Discussion: Hot Air, Associated Press, Power Line, Weasel Zippers, The Jawa Report, CBS News, Big Government, Atlas Shrugs, YID With LID, Beltway Confidential, JammieWearingFool and New York Times

New York Times:
Times Square Suspect Drew Inspiration From Militant Cleric

Discussion: Jihad Watch and New York Magazine

Dina Temple-Raston / NPR: How Media Coverage Crimped The Times Square Case

Nicholas Wade / New York Times:

Signs of Neanderthals Mating With Humans — Neanderthals mated with some modern humans after all and left their imprint in the human genome, a team of biologists has reported in the first detailed analysis of the Neanderthal genetic sequence. — The biologists, led by Svante Paabo …

Discussion: Guardian

Political Punch:

White House Gives Chilly Reception to Lieberman's Citizenship-Stripping Bill — White House press secretary Robert Gibbs today indicated no one in the White House supports the legislation introduced today by Sens. Joe Lieberman, I-Conn., that would give the State Department the power to revoke …

Discussion: Revolution Muslim, The Huffington Post, AMERICAblog News and Daily Kos

Russell Berman / The Hill:
Pelosi: ‘Be very careful’ about Lieberman, Brown terror citizen bill

Discussion: The Politico, pa2010.com and CNN

Adam Serwer / American Prospect:
They're Calling It the “TEA” Act.

Discussion: Crooks and Liars and Hullabaloo

Spencer Ackerman / The Washington Independent:

Pentagon Bans Four Journalists From Guantanamo Bay for Reporting Interrogator #1's Name — GUANTANAMO BAY — Two weeks' worth of proceedings in the pre-trial hearing of Omar Khadr found an unexpected meta-conclusion this afternoon as the public affairs shop in the Office of the Secretary …

Discussion: Globe and Mail, American Power, ATTACKERMAN, Emptywheel and Balloon Juice

Spencer Ackerman / The Washington Independent:
Khadr Was Told a ‘Fictitious Story’ About a Young Afghan Being Raped and Killed

Discussion: Raw Story and Emptywheel

Megan McArdle / The Atlantic Online:

What the Hell Just Happened in the Market? — For those who don't have Bloomberg News on 24/7, the Dow just dropped almost 1,000 points, before bouncing back to . . . well, to being down a mere 400 points. What on earth is going on? — Immediate theories: — It was the computers, stupid.

Discussion: Business Week, New Atlanticist and alicublog

Jeff Cox / CNBC:
Greek Debt Crisis On Verge Of ‘Going Global’: Pimco's El-Erian

Discussion: The Atlantic Online, Weekly Standard and The Agonist

Joe Weisenthal / Silicon Alley Insider:

THE MOST EXCITING MOMENT IN CNBC HISTORY: Jim Cramer Saves The Market — If you missed it, here's the instant-classic video of Erin Burnett and Jim Cramer going nuts together as the Dow collapsed and then rebounds — Check our more artistic version of the day's events …

Discussion: Media Decoder, Newsbroke, Clusterstock and Wonkette

Miami New / Riptide 2.0:

George Rekers Is a Homosexual, Escort Says — Rekers allegedly named his favorite maneuver the “long stroke” — a complicated caress “across his penis, thigh... and his anus over the butt cheeks,” as the escort puts it. “Rekers liked to be rubbed down there,” he says.

Discussion: Truth Wins Out, Runnin' Scared, Gawker, Mediaite, Alan Colmes' Liberaland, TPMMuckraker, Right Now, Joe. My. God., The Awl, New York Magazine, Towleroad News #gay, The Political Carnival, Newsweek Blogs, AMERICAblog Gay, The Stranger …, The Huffington Post, Wonkette and Unzipped.net

Brady Dennis / Washington Post:

With 2 Republicans, financial overhaul bill moves toward approval — The effort to overhaul the nation's financial regulations cleared a crucial hurdle Thursday in the Senate, a signal that the landmark legislation, long stalled by filibuster threats and partisan standoffs, could be on the fast track toward passage.

Discussion: Indecision Forever

The Huffington Post:
Reid Backs Breaking Up Banks, Auditing Fed

Discussion: Political Punch, TPMDC, The Plum Line, Firedoglake, Daily Kos, The Note, Open Left, Ezra Klein, The Washington Independent, Clusterstock, The Reaction and DealBook

Alex Isenstadt / The Politico:

DCCC to ‘re-evaluate’ Hawaii special — The Democratic Congressional Campaign Committee is re-evaluating whether to continue to spend money in this month's Hawaii special election, Chairman Chris Van Hollen told POLITICO Thursday. — With former Democratic Rep. Ed Case …

Discussion: Swing State Project, The Other McCain and RedState

Shawn Tully / Fortune:

Documents reveal AT&T, Verizon, others, thought about dropping employer-sponsored benefits — (Fortune) — The great mystery surrounding the historic health care bill is how the corporations that provide coverage for most Americans — coverage they know and prize — will react …

Discussion: RedState, The Corner on National …, Power Line, PoliPundit.com and Beltway Confidential