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9:00 AM ET, May 7, 2010

memeorandum

 Top Items: 
CNBC:
Stock Selloff May Have Been Triggered by a Trader Error  —  In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses—all apparently due to a trader error.  —  According to multiple sources, a trader entered a “b” …
RELATED:
Wall Street Journal:
Dow Takes Harrowing 1,010.14-Point Trip  —  Biggest Point Fall, Before a Snapback; A Data Jumble  —  Traders work on the floor of the New York Stock Exchange May 6.  —  A bad day in the financial markets was made worse by an apparent trading glitch, leaving traders and investors nervous …
Scott Patterson / Wall Street Journal:
Did Shutdowns Make Plunge Worse?
BBC:
UK ‘wakes up to hung Parliament’  —  With more than 500 general election results in out of 650, the BBC is predicting a hung Parliament with the Tories as the largest party.  —  Labour cannot now win a majority, but it is not clear which party will be in a position to form a government.
RELATED:
Andrew Sparrow / Guardian:
General election 2010: results - live!  —  • Exit poll shows Con 305, Lab 255, LD 61  —  • Swing from Labour to Tories so far: 5.2%  —  • Cameron says Labour has lost mandate to govern  —  • Former home secretary Charles Clarke loses seat  —  • Greens win in Brighton, BNP fail to win in Barking
BBC:
First hung parliament in UK for decades  —  The Conservatives have won the most MPs in the UK general election but fallen short of a majority, leading to the first hung parliament since 1974.  —  As counting continues the Tories have gained 92 seats, Labour have lost 86 and the Lib Dems six …
RELATED:
Michelle Oddis / Human Events:   BREAKING: Navy SEAL McCabe Found Not Guilty
Allahpundit / Hot Air:
Breaking: Last Navy SEAL acquitted of abusing Iraqi terrorist …
Larry O'Dell / Associated Press:
Va. military jury finds Navy SEAL not guilty
Andy McCarthy / The Corner on National Review Online:
Disgraceful Leaking — By: Andy McCarthy  —  As I explained in this post last evening, there seems to have been no good reason to file the arrest complaint against Faisal Shahzad publicly, and to have done so in a way that showed he was cooperating.  All that does is alert co-conspirators …
Discussion: NewsReal Blog
RELATED:
New York Times:
Times Square Suspect Drew Inspiration From Militant Cleric  —  WASHINGTON — The Pakistani-American man accused of trying to detonate a car bomb in Times Square has told investigators that he drew inspiration from Anwar al-Awlaki, a Yemeni-American cleric whose militant online lectures …
Dina Temple-Raston / NPR:
How Media Coverage Crimped The Times Square Case
Discussion: Betsy's Page
Nicholas Wade / New York Times:
Signs of Neanderthals Mating With Humans  —  Neanderthals mated with some modern humans after all and left their imprint in the human genome, a team of biologists has reported in the first detailed analysis of the Neanderthal genetic sequence.  —  The biologists, led by Svante Paabo …
Sarah Palin / Facebook:
Let's shake it up in California!  —  I'd like to tell you about a Commonsense Conservative running for office in California this year.  She grew up in a modest home with a school teacher dad, worked her way through several colleges, and then entered an arena where few women had tread.
RELATED:
The Huffington Post:
Senate Votes For Wall Street; Megabanks To Remain Behemoths  —  What's Your Reaction: … A move to break up major Wall Street banks failed Thursday night by a vote of 61 to 33.  —  Three Republicans, Richard Shelby of Alabama, Tom Coburn of Oklahoma and John Ensign of Nevada …
Political Punch:
White House Gives Chilly Reception to Lieberman's Citizenship-Stripping Bill  —  White House press secretary Robert Gibbs today indicated no one in the White House supports the legislation introduced today by Sens. Joe Lieberman, I-Conn., that would give the State Department the power to revoke …
RELATED:
Russell Berman / The Hill:
Pelosi: ‘Be very careful’ about Lieberman, Brown terror citizen bill
Discussion: Reuters and The Politico
Paul Krugman / New York Times:
A Money Too Far  —  So, is Greece the next Lehman?  No. It isn't either big enough or interconnected enough to cause global financial markets to freeze up the way they did in 2008.  Whatever caused that brief 1,000-point swoon in the Dow, it wasn't justified by actual events in Europe.
RELATED:
Daniel Friedman / Hotline On Call:
Coburn Holds Ex-Bush Spokeswoman  —  Sen. Tom Coburn (R-OK) has placed holds on more WH nominees, including former George W. Bush press secretary Dana Perino, he said today.  —  Coburn disclosed holds on eight nominees to the Broadcasting Board of Governors including, including Perino and popular author and journalist Walter Isaacson.
Discussion: Balloon Juice
RELATED:
Ezra Klein:
Dick Durbin: Let my nominees go!
Discussion: CNN and The Hill
Joe Weisenthal / Silicon Alley Insider:
THE MOST EXCITING MOMENT IN CNBC HISTORY: Jim Cramer Saves The Market  —  If you missed it, here's the instant-classic video of Erin Burnett and Jim Cramer going nuts together as the Dow collapsed and then rebounds  —  Check our more artistic version of the day's events …
Megan McArdle / The Atlantic Online:
What the Hell Just Happened in the Market?  —  For those who don't have Bloomberg News on 24/7, the Dow just dropped almost 1,000 points, before bouncing back to . . . well, to being down a mere 400 points.  What on earth is going on?  —  Immediate theories:  — It was the computers, stupid.
RELATED:
Spencer Ackerman / The Washington Independent:
Pentagon Bans Four Journalists From Guantanamo Bay for Reporting Interrogator #1's Name  —  GUANTANAMO BAY — Two weeks' worth of proceedings in the pre-trial hearing of Omar Khadr found an unexpected meta-conclusion this afternoon as the public affairs shop in the Office of the Secretary …
Alex Isenstadt / The Politico:
DCCC to ‘re-evaluate’ Hawaii special  —  The Democratic Congressional Campaign Committee is re-evaluating whether to continue to spend money in this month's Hawaii special election, Chairman Chris Van Hollen told POLITICO Thursday.  —  With former Democratic Rep. Ed Case …
Washington Post:
Oil riggers on ship that exploded in Gulf of Mexico describe fateful night  —  BELLE CHASSE, LA. — Before the explosion, the oil spill, the declarations of “environmental crisis” or the emergency visit by President Obama, 126 oil riggers were passing another quiet night on the Gulf of Mexico.
Discussion: Balloon Juice
 
 
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 More Items: 
Brent Baker / NewsBusters.org:
Actress Scarlett Johansson Gushes She's Drunk the ‘Kool-Aid’ of ‘Amazing’ Obama
Brian Beutler / TPMDC:
Vote On Fed Audit Delayed To Accommodate Bennett
Denise Grady / New York Times:
Cancer Society Criticizes U.S. Panel as Overstating Risk
Discussion: THE ASTUTE BLOGGERS
Julius Genachowski / The National Broadband Plan:
IN THIS STATEMENT  —  Many have asked about the FCC's next steps …
John Amato / Crooks and Liars:
Charles Barkley, Kenny Smith and Chris Webber blast Arizona's SB 1070 …
Associated Press:
“Cash for Caulkers” Bill Passes House
Discussion: The Hill and CNN
 Earlier Items: 
Paul / Power Line:
The stealth law professor
Kevin D. Williamson / The Corner on National …:
Eric Cantor: Not Jewish Enough for Matt Yglesias — By: Kevin D. Williamson
Brady Dennis / Washington Post:
With 2 Republicans, financial overhaul bill moves toward approval
Miami New / Riptide 2.0:
George Rekers Is a Homosexual, Escort Says
 

 
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