memeorandum: Senator Obama's Statement of Principles for the Treasury Proposal (Amanda Scott/Barack Obama and Joe Biden)

11:40 PM ET, September 21, 2008

Top Items:

Newt Gingrich / The Corner:

Before D.C. Gets Our Money, It Owes Us Some Answers — Watching Washington rush to throw taxpayer money at Wall Street has been sobering and a little frightening. — We are being told Treasury Secretary Henry Paulson has a plan which will shift $700 billion in obligations from private companies to the taxpayer.

Discussion: The Hill's Blog Briefing Room, At-Largely, Dean's World, Hot Air and CNNMoney.com

Matt Stoller / Open Left:

Yes, There Are Deeply Angry Democratic Members of Congress — This email is from a lawmaker and it should give you a flavor for what's going on right now in Congress.

Frank James / The Swamp:

Obama: No blank check for Wall St — CHARLOTTE, N.C. - In his first comments about a $700 billion government bailout package meant to help stabilize Wall Street, Sen. Barack Obama on Sunday stopped short of saying whether he supports the proposal, as he laid out some broad economic goals he believes such a plan should include.

Discussion: JustOneMinute, Right Wing News and TIME.com

New York Times:

Bipartisan Support for Wall St. Rescue Plan Emerges — WASHINGTON — Bipartisan support appeared to be emerging Sunday among American lawmakers to give quick approval to a vast bailout of financial institutions. — But senior lawmakers put forward some of their own ideas for rescuing …

Discussion: Willem Buiter's Maverecon, TBogg, Obsidian Wings, The Caucus, Calitics, Once Upon a Time, Needlenose, Connecting.the.Dots, BAGnewsNotes, Kevin Drum, Mish's Global Economic …, Prairie Weather, Corrente and Spin Cycle

Amanda Scott / Barack Obama and Joe Biden:

Senator Obama's Statement of Principles for the Treasury Proposal — Senator Obama recently issued a Statement of Principles for the Treasury Proposal...

Discussion: DownWithTyranny!, Economists for Obama, D-Day and Washington Post

Avi Zenilman / The Politico:
Many economists skeptical of bailout

Discussion: naked capitalism, Washington Monthly, Interfluidity, Reason, DownWithTyranny!, The Daily Dish, EconoPundit, Vox Popoli, Marginal Revolution and Open Left

Mark Silva / The Swamp:
Obama, McCain: Cautious in econ-crisis

Discussion: Ben Smith's Blogs

Mark Halperin / TIME.com:
Pelosi Statement on Legislation to Address Crisis in Financial Markets

Discussion: Firedoglake and The Moderate Voice

Mike Allen / The Politico: Obama calls bailout a ‘blank check’

Cernig / Newshoggers.com:
A Letter To Congress — Sean Paul Kelly at the Agonist …

Discussion: The Agonist and The Impolitic

Amanda Scott / Barack Obama and Joe Biden:
Barack in Charlotte, NC: “The stakes are too high”

Discussion: Firedoglake, Think Progress and American Footprints

Dan Balz / Washington Post:
McCain Health-Care Article Fuels New Clash Over Economy

Discussion: The Raw Story, AMERICAblog News, The Caucus, Prometheus 6, New York Times, Agence France Presse and The Swamp

Bill Cotterell / News Press:

Palin draws crowd of 60,000 in The Villages — THE VILLAGES — Republican vice presidential nominee Sarah Palin told wildly cheering, flag-waving, chanting supporters that John McCain is “the only great man in this race” and promised Sunday he will fix the nation's economy if voters give the GOP four more years in the White House.

Discussion: Hot Air, NewsBusters.org, GINA COBB, Wizbang, The Strata-Sphere and The Other McCain

Jonathan Martin / Jonathan Martin's Blogs:

Palin draws largest crowd yet for GOP — Sarah Palin tonight attracted the largest crowd yet to any Republican campaign event this cycle, drawing tens of thousands of Floridians out in a conservative-leaning retirement community north of Orlando for a solo rally.

Discussion: Gateway Pundit

Dotcomabc / Political Radar:

Palin Says Obama Voting ‘Present’ on the Economy — ABC's Imtiyaz Delawala Reporting: At a rally in Lady Lake, Fla., today Gov. Sarah Palin accused Sen. Barack Obama of not aggressively promoting a plan to address the current crisis on Wall Street and compared the situation to his many “present” votes in the Illinois state legislature.

Discussion: TIME.com

NY Daily News:

Mac and I had tropical heat in Rio, says ex — BY HAROLD EMERT IN RIO DE JANEIRO AND PATRICK SULLIVAN IN NEW YORK — While John McCain attended his 50th Naval Academy reunion Saturday, a Brazilian beauty fondly recalled the affair she had with the young “good kissing” midshipman she met a half a century ago.

Discussion: TBogg

Newsweek:

All the Candidates' Cars — From the magazine issue dated Sep 29, 2008 — When you have seven homes, that's a lot of garages to fill. After the fuss over the number of residences owned by the two presidential nominees, NEWSWEEK looked into the candidates' cars.

Discussion: The Field on the Narcosphere, The Huffington Post, Political Machine, Liberal Values, Washington Monthly, Political Radar, Crooks and Liars, Hot Air, Campaign Silo, Truthdig and Oliver Willis

Yuval Levin / The Corner:

The Bailout — Everyone should read the actual text of the proposed bailout plan the administration is sending to Congress. It's clearly not a final version (the part about only purchasing from financial institutions headquartered in the US has already been changed, as Kathryn notes below) …

Discussion: Newshoggers.com, Matthew Yglesias, Sadly, No!, SCOTUSblog, The Caucus and Economists for Obama

New York Times:

Foreign Banks Hope Bailout Will Be Global — PARIS — The financial crisis that began in the United States spread to many corners of the globe. Now, the American bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.

Discussion: Talking Points Memo

Daniel Gros / voxeu.org:
The beginning of the end game...

Discussion: The Politico, TigerHawk, Marginal Revolution, Kevin Drum and Newshoggers.com

Myglesias / Matthew Yglesias:

Hurry! Hurry! — Bush and Paulson say congress needs to rush and give them a blank check — no time to think about it, change anything, or scrutinize anything. — It seems strange to me that they didn't bolster their rhetoric by providing congressional leaders with a list of all the times congress …

Associated Press:
Paulson urges quick action on $700 billion bailout

Discussion: AMERICAblog News

Meena Thiruvengadam / Wall Street Journal:
Paulson Presses Congress to Act On $700 Billion Bailout Plan

Discussion: Information Arbitrage and MyDD

Gallup:

Gallup Daily: Obama Leading McCain by 4 Points — Voter preferences similar to Saturday, when Obama led by 6 points — PRINCETON, NJ — Barack Obama continues to lead John McCain in national voter preferences for the presidential election, now by a four percentage point margin, 49% to 45%

Discussion: Don Surber and MyDD

Jonathan Martin / Jonathan Martin's Blogs:

McCain strikes bipartisan notes in 60 Minutes interview — Trying to burnish his bipartisan credentials at a time when his party and its president are held in low favor, John McCain used a high-profile interview Sunday night to float a well-known Democratic name to take over the Securities …

Discussion: Donklephant

Gateway Pundit:

FBI ACTS!!!... SERVES (suspected) PALIN HACKER DAVID KERNELL WITH SEARCH WARRANT!! — Bummer... Feds break up a party to serve University of Tennessee student David Kernell with a search warrant! — A court date was set for this week. — David is a self-described Obamacrat …