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2:29 AM ET, September 22, 2008

memeorandum

 Top Items: 
New York Times:
Democrats Set Bailout Conditions as Treasury Chief Rallies Support  —  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 …
RELATED:
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.
New York Times:
Big Financiers Start Lobbying for Wider Aid  —  Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.  —  Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.
Discussion: TPMCafe
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.
Ali / Think Progress:
Bush's Legacy Of Squandering Taxpayer Money
Discussion: Matthew Yglesias and Open Left
Mark Silva / The Swamp:
Obama, McCain: Cautious in econ-crisis
Robert Reich / TPMCafe:   What Wall Street Should Do To Get Its Blank Check
Myglesias / Matthew Yglesias:   Hurry!  Hurry!  —  Bush and Paulson say congress needs to rush …
Mike Allen / The Politico:   Obama calls bailout a ‘blank check’
Associated Press:
Paulson urges quick action on $700 billion bailout
Discussion: AMERICAblog News
Cernig / Newshoggers.com:
A Letter To Congress  —  Sean Paul Kelly at the Agonist …
Discussion: The Agonist and The Impolitic
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.
RELATED:
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.
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
Discussion: TIME.com
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
Craig Torres / Bloomberg:
Fed Allows Goldman, Morgan Stanley to Become Banks  —  Sept. 21 (Bloomberg) — Goldman Sachs Group Inc. and Morgan Stanley will become banks regulated by the Federal Reserve, after tight credit markets forced Wall Street's two remaining independent investment banks to widen their sources of funding.
RELATED:
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.
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.
Associated Press:
Obama staff leaves North Dakota  —  BISMARCK, N.D. (AP) — Barack Obama, who has deployed more than 50 staffers in North Dakota in an attempt to become the first Democratic presidential candidate to carry the state since 1964, is pulling out.  —  An Obama spokeswoman, Amy Brundage …
Discussion: TalkLeft and Top of the Ticket
RELATED:
The Politico:
The race discussion Obama didn't want
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
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) …
 
 
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 More Items: 
Jonathan Martin / Jonathan Martin's Blogs:
McCain strikes bipartisan notes in 60 Minutes interview
Discussion: Donklephant
Gallup:
Gallup Daily: Obama Leading McCain by 4 Points
Discussion: MyDD
Phyllis Schlafly / San Francisco Chronicle:
Feminists against Palin - shame on you
Stephen F. Hayes / Weekly Standard:
Democrats and Double Standards
 Earlier Items: 
CNN:
Interview With Obama, McCain Economic Advisers; Interview With Ron Paul
Discussion: Top of the Ticket
Kim Murphy / Los Angeles Times:
Alaskans angered that Palin is off-limits
 

 
From Mediagazer:

BBC:
Russia enacts ‘draconian’ law for bloggers and online media

Mark Sweney / Guardian:
Facebook and fewer stories behind rise in web traffic, says Telegraph chief

Jay Rosen / Pressthink:
The rewriting of an AP tweet about Gaza shows the costs of avoiding perception of bias

 
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