memeorandum: Smithers Sees ‘Significant’ S&P 500 Rally (Anna Kitanaka/Bloomberg)

8:50 AM ET, August 22, 2011

Top Items:

Jubilant Rebels Control Much of Tripoli — TRIPOLI, Libya — Col. Muammar el-Qaddafi's grip on power dissolved with astonishing speed on Monday as rebels marched into the capital and arrested two of his sons, while residents raucously celebrated the prospective end of his four-decade-old rule.

BBC:

Libya conflict: Fighting rages near Gaddafi compound — Resident Omar describes rebels celebrating and waving opposition flags on Green Square — Heavy fighting is taking place in Tripoli around the compound of embattled Libyan leader Col Muammar Gaddafi after rebels seized control of much of the city on Sunday.

Discussion: Guardian, normblog, Telegraph, ABCNEWS, New York Magazine, IOL, Aljazeera, AMERICAblog News and THE ASTUTE BLOGGERS

Associated Press:

Clashes near Gadhafi compound in Libyan capital — TRIPOLI, Libya (AP) — Heavy clashes have broken out near Moammar Gadhafi's compound in the Libyan capital. — Rebel spokesman Mohammed Abdel-Rahman says that tanks emerged from the complex, known as Bab al-Aziziya, early Monday and began firing.

Discussion: Top of the Ticket, americanthinker.com and Pajamas Media

Aljazeera:

Fighting rages near Gaddafi's compound — Libyan leader's whereabouts still a mystery as clashes erupt in Tripoli, hours after rebels advanced into heart of city. — Heavy fighting and gun battles have broken out in areas of Tripoli after opposition fighters gained control overnight …

Discussion: Guardian, Outside the Beltway and Babylon & Beyond

BBC:
Libya rebels move deep into Tripoli as fighting rages

Discussion: Online NewsHour and Daily Kos

Washington Post:
Gaddafi's rule crumbling as rebels enter heart of Tripoli

Discussion: Hot Air, Guardian and The Lonely Conservative

ABCNEWS:
Libyan Rebels Say They Captured Gadhafi's Son in Tripoli

Discussion: The Gateway Pundit and Scared Monkeys

CNN:
Gadhafi regime appears on verge of collapse as fighters reach Tripoli

Discussion: This Just In, Mediaite, Global Public Square, The Daily What, Mudville Gazette, Crooks and Liars and Aljazeera

Bloomberg:
Qaddafi Sons Taken as Rebels Sweep Into Tripoli

Discussion: ABCNEWS, The Reality-Based Community and Gawker

Sky News:
Libyan Rebels: 'Colonel Gaddafi's Son Captured'

Discussion: Clusterstock, The Atlantic Online, Guardian, Israel Matzav and The Raw Story

Bloomberg:

Wall Street Aristocracy Got $1.2T in Loans — Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

Discussion: THE ASTUTE BLOGGERS, The Talking Dog, Power Line, Man Are We Screwed and Felix Salmon

Laura Bassett / The Huffington Post:

Obama Jobs Plan Meets Early Resistance From Republicans … Following a few dismal weeks on Wall Street and talk of a double-dip recession, President Obama will soon announce a new jobs plan that is expected to include an extension of payroll tax cuts, new revenue for transportation projects …

Discussion: Hullabaloo

Steve Benen / Washington Monthly:
‘Congressional Republicans want to raise your taxes’

Discussion: Mother Jones and Prairie Weather

Charles Babington / Associated Press:
GOP may OK tax increase that Obama hopes to block

Discussion: Bangor Daily News, Donklephant, The Greenroom, Alan Colmes' Liberaland and Balloon Juice

Ballot Box:

Wall Street execs turn back on Obama, donate to Romney — Dozens of Wall Street executives who supported President Obama in 2008 have donated to Mitt Romney's presidential campaign this year. — According to a review of fundraising data, 67 people who work in the financial sector and live …

Discussion: Politics, Prairie Weather and americanthinker.com

Gretchen Morgenson / New York Times:

Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal — Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices …

Discussion: emptywheel, naked capitalism and Suburban Guerrilla

Alexander Burns / The Politico:

Trial lawyers prep for war on Perry — America's trial lawyers are getting ready to make the case against one of their biggest targets in years: Texas Gov. Rick Perry. — Among litigators, there is no presidential candidate who inspires the same level of hatred - and fear - as Perry …

Discussion: GOP 12 and Prairie Weather

Tony Kennedy / Associated Press:

Michele Bachmann's low-key IRS role belied ambitions — Judicial records and former peers detail her work as a tax attorney. — In the few seconds Michele Bachmann had to introduce herself at a Republican presidential debate in New Hampshire this summer, she promptly mentioned her credential as …

Discussion: Alan Colmes' Liberaland

Anna Kitanaka / Bloomberg:

Smithers Sees ‘Significant’ S&P 500 Rally — U.S. stocks are set for a “significant rally” which will provide an opportunity for investors to sell before equities resume declines, according to economist Andrew Smithers. — Companies are cashed up and likely to buy back shares at a time when price …

Discussion: Clusterstock and The Big Picture

Scott Conroy / Real Clear Politics:

Tea Party Group Launches Iowa Radio Blitz for Palin Event — She may not be an official candidate at this point, but Sarah Palin will hit the airwaves in Iowa on Monday, and it's not going to cost the former Alaska governor a dime. — Tea Party of America — a recently created group …

Discussion: GOP 12, Conservatives4Palin and Chicago Boyz

Harvey Golub / Wall Street Journal:

My Response To Buffett And Obama — Before you ask for more tax money from me, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely. — Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions …

Discussion: The Lonely Conservative

Robert Mackey / The Lede:

Latest Updates on the Battle for Tripoli … Latest Updates on the Battle for Tripoli — On Sunday, The Lede is following the battle for the Libyan capital, Tripoli, as rebel forces seeking to push Col. Muammar el-Qaddafi from power attack the city. — Battle Begins for the Libyan Capital

Discussion: Telegraph and Boing Boing

Jeff Poor / The Daily Caller:

Maxine Waters: ‘The tea party can go straight to hell’ — So much for dialing back the rhetoric, right? — On Saturday in Inglewood, Calif., California Democratic Rep. Maxine Waters had some harsh words for the tea party. — “I'm not afraid of anybody,” Waters told constituents in footage …

Discussion: Pajamas Media, Political Clown Parade, Wizbang and The Gateway Pundit