memeorandum: Bailout — I'm sure everyone knows about this already: (Hilzoy/Obsidian Wings)

1:30 AM ET, September 22, 2008

Top Items:

Democrats Begin to Set Own Bailout Terms — WASHINGTON — Congressional Democrats began to set their own terms on Sunday for a plan to rescue the nation's financial institutions, including greater legislative oversight of the Treasury Department, more direct assistance for homeowners and limits …

Discussion: TIME.com, MyDD, Truthdig and Needlenose

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: At-Largely, Dean's World, The Hill's Blog Briefing Room, MyDD, 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.

Discussion: Buck Naked Politics, American Power, CBS News, Off the Kuff, Comments from Left Field, Booman Tribune, Calculated Risk, The Moderate Voice, Hullabaloo, The Sideshow, The Mahatma X Files, Kevin Drum, Brilliant at Breakfast, Michigan Messenger, I Don't Like You Either, Balloon Juice and Los Angeles Times

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: The Caucus, Buck Naked Politics, TBogg, Once Upon a Time, Calitics, 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

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

New York Times:
Foreign Banks Hope Bailout Will Be Global

Discussion: Talking Points Memo and naked capitalism

Avi Zenilman / The Politico:
Many economists skeptical of bailout

Discussion: New York Times, Buck Naked Politics, Mish's Global Economic …, Big Brass Blog, Interfluidity, Brilliant at Breakfast, Reason, DownWithTyranny!, PoliBlog (TM), EconoPundit and Marginal Revolution

Ali / Think Progress:
Bush's Legacy Of Squandering Taxpayer Money

Discussion: Matthew Yglesias and Open Left

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

Discussion: Firedoglake and The Moderate Voice

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

Discussion: Ben Smith's Blogs

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

Myglesias / Matthew Yglesias: Hurry! Hurry! — Bush and Paulson say congress needs to rush …

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

Discussion: The Agonist and The Impolitic

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

Discussion: AMERICAblog News

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, TBogg, Macsmind, NewsBusters.org, GINA COBB, Patterico's Pontifications, 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

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: New York Times, JustOneMinute, Right Wing News and TIME.com

Dotcomabc / Political Radar:
Palin Says Obama Voting ‘Present’ on the Economy

Discussion: TIME.com

Dr. Rusty Shackleford / The Jawa Report:

Hope, Change, & Lies: Orchestrated “Grassroots” Smear Campaigns & the People that Run Them — Extensive research was conducted by the Jawa Report to determine the source of smears directed toward Republican Vice Presidential candidate Sarah Palin. Those smears included false allegations …

Discussion: Little Green Footballs, Patterico's Pontifications, Riehl World View, The Other McCain and Atlas Shrugs

Clif / Sadly, No!:

Shorter Entire Right-Wing Blogosphere … - We agree with Investors' Business Daily, which says that the reason for the current financial crisis is that the Community Reinvestment Act passed by the Democrats forced banks to lend money to a bunch of shiftless darkies who couldn't repay their loans.

Discussion: Blog entry, The Other McCain, Hullabaloo, D-Day and NewsBusters.org

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

New York Times:

Loan Titans Paid McCain Adviser Nearly $2 Million — Senator John McCain's campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

Discussion: AMERICAblog News

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, PrestoPundit, Sadly, No!, SCOTUSblog, New York Times, The Caucus and Economists for Obama

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, Hot Air, Crooks and Liars, Truthdig, Campaign Silo and Oliver Willis

DealBook:

Goldman, Morgan to Become Bank Holding Companies — Goldman Sachs and Morgan Stanley, the last two independent investment banks, will become bank holding companies, the Federal Reserve said Sunday night, a move that will fundamentally alter the landscape of Wall Street.

Discussion: Bang the Drum, Conglomerate, Mish's Global Economic … and Gawker

Amanda Scott / Barack Obama and Joe Biden:

Barack in Charlotte, NC: “The stakes are too high” — Barack just finished an event in Charlotte, North Carolina. He spoke about the struggling economy and his plan to strengthen American and the middle class. He also addressed John McCain's recent remarks and view on healthcare...

Discussion: Firedoglake, Think Progress and American Footprints