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9:50 AM ET, May 7, 2010

memeorandum

 Top Items: 
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:
BBC:
Brown ‘respects’ Clegg-Tory talks  —  Gordon Brown has said he “respects” the right of the Lib Dems to talk to the Tories about forming a government.  —  But he said he was still PM and, if talks failed, would open negotiations with the Lib Dems, after the election resulted in a hung parliament.
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 …
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
Floyd Norris / New York Times:
Market Drop Fueled by a Crisis, Anxiety and an Error
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:
Dina Temple-Raston / NPR:
How Media Coverage Crimped The Times Square Case
Scott Patterson / Wall Street Journal:
Did Shutdowns Make Plunge Worse?  —  A number of high-frequency firms stopped trading Thursday in the midst of the market plunge, possibly adding to the market's selloff.  —  Tradebot Systems Inc., a large high-frequency firm based in Kansas City, Mo., closed down its computer trading systems …
Discussion: Clusterstock and Money & Company
RELATED:
David Scheer / Bloomberg:
SEC Said to Probe Causes, Exploitation of Stock-Market Turmoil
New York Times:
High-Speed Trading Glitch Costs Investors Billions
Discussion: Gothamist and DealBook
Tom Lauricella / Wall Street Journal:
Market Plunge Baffles Wall Street
Discussion: Tammy Bruce and Washington Post
Mike Allen / The Politico:
Obama's Court pick is imminent — POTUS to seek line-item veto — Britain sorting out ‘hung parliament’ — Did Dow tank on ‘fat finger error’?  — Palin + Facebook = Yahtzee  —  DRIVING NEXT WEEK — Look for President Obama to name his Supreme Court pick Monday, and look …
Discussion: WCBS-TV
RELATED:
Jackie Calmes / New York Times:
Obama to Seek More Power to Cut Spending From Bills  —  WASHINGTON — President Obama, in his latest effort to signal fiscal responsibility against the rising debt, plans this month to ask Congress to give him and future presidents greater power to try to delete individual items from spending bills.
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 …
Jeannine Aversa / Associated Press:
Jobs up 290,000; jobless rate rises to 9.9 pct.  —  WASHINGTON — More confident employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years.  The jobless rate rose to 9.9 percent as people streamed back into the market looking for work.
RELATED:
Wall Street Journal:
U.S. Economy Added 290,000 Jobs in April  —  WASHINGTON — The U.S. economy in April added jobs at the fastest pace in four years, but the unemployment rate unexpectedly rose.  —  The Labor Department said nonfarm payrolls rose by a higher than expected 290,000 jobs last month — the largest gain since March 2006.
Discussion: JammieWearingFool
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 …
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.
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.
Discussion: Prairie Weather
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 …
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 …
KCCI-TV:
KCCI POLL RESULTS - MAY 2010  —  DES MOINES, Iowa — The Research 2000 Iowa Poll was conducted from May 3 through May 5, 2010.  A total of 600 likely voters who vote regularly in state elections were interviewed statewide by telephone.  —  Those interviewed were selected by the random variation …
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: 
Colum Lynch / Washington Post:
In unusual move, Iran's foreign minister invites U.N. Security Council to dinner
Discussion: Commentary and Laura Rozen's Blog
Chris Amico / Online NewsHour:
How Much Oil Has Leaked Into the Gulf of Mexico?
Reid Wilson / Hotline On Call:
Confidence Improves, But Trust Hurts Obama
Discussion: Townhall.com and Weasel Zippers
Jerry Zremski / Associated Press:
Obama's visit here is chance to listen
Daniel Friedman / Hotline On Call:
Coburn Holds Ex-Bush Spokeswoman
Discussion: Balloon Juice
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
 Earlier Items: 
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 …
Megan McArdle / The Atlantic Online:
What the Hell Just Happened in the Market?
Alex Isenstadt / The Politico:
DCCC to ‘re-evaluate’ Hawaii special