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8:30 AM ET, September 17, 2008

memeorandum

 Top Items: 
New York Times:
Fed's $85 Billion Loan Rescues Insurer  —  By EDMUND L. ANDREWS, MICHAEL J. de la MERCED and MARY WILLIAMS WALSH  —  WASHINGTON — Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control …
RELATED:
David Leonhardt / New York Times:
Perhaps, Time for Someone to Play Offense  —  WASHINGTON — Late last week, as Lehman Brothers was collapsing, an all-star group of economists was meeting here to ponder the lessons of the financial crisis.  The group included Donald Kohn, the vice chairman of the Fed, and Edward Lazear …
Discussion: The New Republic and Angry Bear
Michael D. Shear / Washington Post:
McCain Embraces Regulation After Many Years of Opposition  —  A decade ago, Sen. John McCain embraced legislation to broadly deregulate the banking and insurance industries, helping to sweep aside a thicket of rules established over decades in favor of a less restricted financial marketplace …
Wall Street Journal:
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up  —  $85 Billion Loan for Giant Insurer Aimed at Averting Collapse;  —  Historic Move Would Cap 10 Days That Reshaped U.S. Finance;  —  Fed Says AIG Will Sell Businesses in Orderly Manner
Mike Allen / The Politico:
Pelosi orders wide Wall Street probe  —  House Speaker Nancy Pelosi has ordered a broad, swift investigation of Wall Street and will demand testimony from Bush administration officials and captains of finance, congressional officials said.  —  House Democrats plan to aggressively look …
Washington Post:
U.S. Seizes Control of AIG With $85 Billion Emergency Loan
Discussion: Hot Air and TalkLeft
Reuters:
AIG rescued by Fed, Barclays buys Lehman U.S. unit
Discussion: DealBook and FP Passport
Stephen Labaton / New York Times:   Some Seek Agency to Buy Bad Debt as Long-Term Answer
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake
Discussion: LewRockwell.com Blog
CNN:
Fiorina's comment called ‘Biden-like’  —  (CNN) — Top McCain-Palin official Carly Fiorina is facing criticism from some within the campaign for a day of what they call “very Biden-like” comments, after the former Hewlett-Packard CEO told two separate interviewers that neither member …
RELATED:
Faiz / Think Progress:
McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV.  —  McCain reportedly ‘furious’ with Fiorina, campaign adviser says she will ‘disappear’ from TV.  —  Today, McCain economic adviser Carly Fiorina bluntly stated that neither John McCain nor Sarah …
David Alexander / Tales from the Trail:
Financial gloom doesn't halt glitzy Obama fundraiser  —  So what does Barack Obama do after a hard day of defending the common man during the worst financial crisis since the Great Depression?  —  Throw a $28,500-a-head fundraising dinner, of course.  —  Followed by a $2,500 …
RELATED:
Washington Wire:   Obama Holds Fund-Raiser in Beverly Hills
Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists?  Update: AP or Miami Herald tries cleaning up Sebelius' comments  —  Hmmm.  Didn't Barack Obama just get done scolding John McCain over “dishonorable” attacks?  Maybe he should save his criticisms for his surrogates, except that they're parroting The One in his own baseless smears.
RELATED:
Mark Preston / CNN:
Prominent Clinton backer and DNC member to endorse McCain  —  WASHINGTON (CNN) — Lynn Forester de Rothschild, a prominent Hillary Clinton supporter and member of the Democratic National Committee's Platform Committee, will endorse John McCain for president on Wednesday, her spokesman tells CNN.
Tom Maguire / JustOneMinute:
The Mortgage Debacle - Not Enough Blame To Share Some With The Democrats?  —  Nancy Pelosi somewhat implausibly insisted that Democrats are blameless in the current mortgage debacle: … Barack Obama blames Bush for slack oversight: … However, the record tells the opposite story …
RELATED:
Eric Boehlert / Media Matters for America:
McCain and Palin are laughing at the press — and it's the press' fault  —  Chris Matthews was steamed.  —  As John McCain's manufactured “lipstick on a pig” story was taking flight last week, Matthews, host of MSNBC's Hardball, kicked off the hour by teeing up the story.
Tahman Bradley / Political Punch:
Obama Inflates Role in Creation of Stimulus Package  —  In Golden, Colo., today, Sen. Barack Obama, D-Ill., took credit for the stimulus package that passed earlier this year.  —  “In January, I outlined a plan to help revive our faltering economy,” Obama said, “which formed the basis …
Discussion: Macsmind and Hot Air
RELATED:
Ed Morrissey / Hot Air:
The Silence of the Lemmings  —  Barack Obama's campaign seems determined to cultivate a hostile relationship with potential critics, real and imagined.  After complaining loudly that talk radio doesn't provide a balanced look at politics, KCOL's Brad Jones attempted to get an Obama spokesperson …
Kathryn Jean Lopez / The Corner:
Laura Ingraham vs. David Brooks  —  From her daily e-blast:
The Politico:
Historians say McCain camp not sleaziest  —  David Axelrod, Barack Obama's chief strategist, said Sunday that John McCain is running the “sleaziest and least honorable campaign in modern presidential campaign history.”  It was a line trotted out all weekend by various Obama staffers as part …
Discussion: Sister Toldjah and Betsy's Page
Board of Governors of the Federal Reserve System:
For immediate release  —  The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.  —  Strains in financial markets have increased significantly and labor markets have weakened further.  Economic growth appears to have slowed recently …
 
 
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 More Items: 
Anne Sutton / Associated Press:
McCain campaign clamps down on questions in Alaska
Discussion: Balloon Juice
Ruth Marcus / Washington Post:
True Whoppers  —  Economists are not generally known for their lyrical phrasing.
Discussion: Daily Kos
Ahmed Al-Haj / Associated Press:
Official: US Embassy in Yemen hit by car bomb
Mike Madden / Salon:
Sarah Palin's powerful “First Dude”
 Earlier Items: 
Philip Gourevitch / New Yorker:
THE STATE OF SARAH PALIN
Discussion: MoJoBlog and The Right Coast
Sean Penn / The Huffington Post:
Country First (or, How The Media Loves A Lipsticked Rumsfeld)
Discussion: The Other McCain
Megan McArdle:
McCain bucks for a commission
Discussion: Liberal Values and Brian Beutler
Victor Davis Hanson / The Corner:
Reaching Critical Mass
 

 
From Mediagazer:

New York Times:
The NBC News-Ronna McDaniel saga highlights the perks and perils of partisan talk TV; a source says McDaniel is now seeking $600K+ for her two year deal

Nicola Agius / Search Engine Land:
Google blocked or removed 5.5B ads and 12.7M advertiser accounts for violating its policies in 2023, up from 5.2B ads and 6.7M advertiser accounts in 2022

New York Times:
Karlie Kloss' Bedford buys Life publication rights from Dotdash Meredith and plans to resume regular print publication in 2025; Josh Kushner will be publisher

 
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