memeorandum: Phone Hacking: John Yates ‘to be suspended’ over Neil Wallis links (Telegraph)

10:00 AM ET, July 18, 2011

Top Items:

Poll: 71% shun GOP handling of debt crisis — CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto. — Americans are unimpressed with their political leaders' handling of the debt ceiling crisis, with a new CBS News poll showing …

Discussion: Outside the Beltway, ThinkProgress, Taegan Goddard's …, Politics, Instapundit and CBS News

David Rogers / The Politico:

GOP turns hard right on debt — Turning right with a vengeance, Republicans will bring to the House floor Tuesday a newly revised debt-ceiling bill that is remarkable for its total absence of compromise at this late date, two weeks before the threat of default.

Discussion: New York Times, americanthinker.com, No More Mister Nice Blog, Right Wing News, Sky Dancing, LewRockwell.com Blog and New York Magazine

Zachary A. Goldfarb / Washington Post:

Congress tees up crucial votes on debt limit — A bipartisan effort in the Senate to allow President Obama to raise the federal debt ceiling in exchange for about $1.5 trillion in spending cuts over 10 years gained momentum Sunday, as leaders agreed they would have to act in the next two weeks …

Discussion: Washington Monthly, Keith Hennessey, Los Angeles Times, RedState, Swampland, Jared Bernstein, Balkinization, The Heritage Foundation, White House Dossier, FrumForum and The Hill

Bloomberg:

Coburn of Oklahoma to Offer $9 Trillion Budget-Cut Plan to Spur Debt Talks — Republican Senator Tom Coburn said he will unveil a plan tomorrow that would cut $9 trillion from the federal budget over the next 10 years in an effort to curb spending and avoid a default on U.S. debt.

Discussion: Jared Bernstein

Erik Wasson / The Hill:

Budget experts raise concerns over McConnell debt-limit fallback plan — Liberal and centrist budget experts are joining conservatives in raising red flags about the debt-ceiling plan that is being hashed out by Senate leaders as a last-ditch option for avoiding a national default.

Discussion: The Politico, The Huffington Post, Washington Post and The Moderate Voice

Alexander Bolton / The Hill:

Coburn to unveil $9T deficit-reduction plan — Sen. Tom Coburn (R-Okla.) said Sunday the federal government can save $1 trillion though tax reform, a proposal that will put him at odds with some GOP colleagues. — Coburn plans to unveil a $9 trillion deficit-reduction package Monday …

Discussion: Hot Air

Wall Street Journal: Few Signs of Progress in Debt Talks

Wall Street Journal:

News and Its Critics — A tabloid's excesses don't tarnish thousands of other journalists. — When News Corp. and CEO Rupert Murdoch secured enough shares to buy Dow Jones & Co. four years ago, these columns welcomed our new owner and promised to stand by the same standards and principles we always had.

Discussion: The Politico, Associated Press, Bloomberg, Sadly, No!, Outside the Beltway, Guardian, Washington Post, Felix Salmon, Firedoglake, The Hill, Balloon Juice and Gawker, more at Mediagazer »

David Carr / New York Times:

Troubles That Money Can't Dispel — “Bury your mistakes,” Rupert Murdoch is fond of saying. But some mistakes don't stay buried, no matter how much money you throw at them. — Time and again in the United States and elsewhere, Mr. Murdoch's News Corporation has used blunt force spending …

Discussion: BBC, The Huffington Post, New York Magazine, The Raw Story, The Moderate Voice, The Nation, Guardian, Daily Kos, Prairie Weather, Truthdig, Booman Tribune, Zandar Versus The Stupid, Harry's Place, The Political Carnival and PolitickerNY, more at Mediagazer »

Telegraph:

Phone Hacking: John Yates ‘to be suspended’ over Neil Wallis links — One of Scotland Yard's most senior officers, John Yates, is likely to be suspended on Monday pending an investigation over the phone hacking scandal and his links to Neil Wallis, sources have told The Daily Telegraph.

Discussion: New York Times, New York Magazine, Guardian and Guy Fawkes' blog, more at Mediagazer »

Telegraph:
Jude Law claims he was victim of News of the World phone hacking in US

Discussion: Firedoglake and The Reality-Based Community

Guardian:
Met chief's parting shot at Cameron

Discussion: Telegraph, msnbc.com and AMERICAblog News

BBC:
Met Police Commissioner Sir Paul Stephenson quits

Discussion: blogs.telegraph.co.uk, The Daily Dish, Crooks and Liars, Boing Boing, Biased BBC and New York Magazine

Baird Helgeson / Minneapolis Star Tribune:

Chance for quick budget deal fades — Timing of special session is in doubt as GOP legislative leaders try to line up enough votes to end state shutdown. — Four days after the announcement of a budget deal, fresh signs emerged Sunday that the agreement is not coming together as first hoped …

Discussion: The Politico and Politics

Dianeclohesy / Victory Film Group:

ARC Entertainment Announces Strong Opening for “The Undefeated,” with multiple sold-out runs and vocal audience support — Approximately $5,000 per screen through Saturday night — “What would have taken months and cost millions, ARC did in weeks with virtually no traditional media advertising”

Discussion: The Daily Caller, Big Hollywood, Conservatives4Palin and Riehl World View

Paul Krugman / New York Times:

Letting Bankers Walk — Ever since the current economic crisis began, it has seemed that five words sum up the central principle of United States financial policy: go easy on the bankers. — This principle was on display during the final months of the Bush administration …

Discussion: Prairie Weather

Walter Brandimarte / Reuters:

Moody's suggests U.S. eliminates debt ceiling — * Says ceiling brings periodic uncertainty to bond holders — * Suggests example of Chile in curbing debt — Ratings agency Moody's on Monday suggested the United States should eliminate its statutory limit on government debt to reduce uncertainty among bond holders.

Discussion: The Politico

David Dayen / Firedoglake:

Obama's Last Lecture — One of the more constant critiques of this Presidency is that Barack Obama has failed to teach a generation of willing listeners a story about his beliefs and his values, something that will outlast his term in office and provide a blueprint for the future. This isn't true.

Discussion: Taylor Marsh, Hullabaloo and ThinkProgress

The Note:

How Much Longer Can Obama Defy Political Gravity? — ANALYSIS By AMY WALTER (@amyewalter): Although President Obama's job approval rating of 48 percent (according to Pollster.com average) isn't exactly stellar, it is remarkably high given the level of economic pessimism and despair among American electorate.

Discussion: Ben Smith's Blog and TPMDC

Abby Phillip / The Politico:

Richard Cordray, not Elizabeth Warren, to lead CFPB — President Obama has selected former Ohio Attorney General Richard Cordray to lead the embattled Consumer Financial Protection Bureau, POLITICO confirmed Sunday morning. — Obama will make the announcement on Monday from the White House.

Discussion: ABCNEWS, The Moderate Voice, Mediaite and The Hill