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7:45 AM ET, August 8, 2011

memeorandum

 Top Items: 
Patrick Allen / CNBC:
No Chance of Default, US Can Print Money: Greenspan  —  Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.  —  “The United States can pay any debt it has because we can always print money to do that.
RELATED:
Robert Pear / New York Times:
S.&P. Downgrade Is Seen as Adding Urgency to Debt-Cutting Panel  —  WASHINGTON — The downgrade of the United States government's credit rating by Standard & Poor's is almost sure to increase pressure on a new Congressional “supercommittee” to mute ideological disagreements and recommend …
Paul Krugman:
A Self-Fulfilling Euro Crisis?  (Wonkish)  —  There will probably be big action in the euro zone tomorrow; so, some quick analytical notes.  —  The big question, I believe, is whether the Italian and maybe Spanish crises are the kind of thing that might be brought under control by ECB bond purchases.
RELATED:
David Jolly / New York Times:
European Intervention Buoys Italy and Spain  —  PARIS — The interest rates on Spanish and Italian bonds plummeted Monday after the European Central Bank expanded its purchases of government debt to support Madrid and Rome for the first time.  —  Stocks, however, fell in Europe and Asia …
Jack Ewing / New York Times:
Global Finance Leaders Pledge Bold Action to Calm Markets
Discussion: VentureBeat, DealBook and The Page
ecb.int:
Statement by the President of the ECB
Discussion: MarketBeat and Money & Company
David Catanese / The Politico:
Tea Party Nation: The left's killed “a billion people”  —  THIENSVILLE, Wis. — The founder of Tea Party Nation claimed liberal ideology is responsible for “a billion” deaths over the last century during a raucous rally here Saturday in support of one of the six Republican state senators facing a recall election Tuesday.
RELATED:
Katrina Trinko / National Review:
McCain: Tea Party Members Had ‘Mandate’ to Oppose Tax and Spending Hikes
Lucy Madison / CBS News:
Axelrod: This is a “Tea Party downgrade”
The Daily Beast:
Tea Party's Next Targets
Discussion: MyDD and Alan Colmes' Liberaland
Daily Mail:
Explosive Jackie O tapes ‘reveal how she believed Johnson killed JFK and had affair with movie star’  —  Jackie Onassis believed that Lyndon B Johnson and a cabal of Texas tycoons were involved in the assassination of her husband John F Kennedy, ‘explosive’ recordings are set to reveal.
Catherine Rampell / New York Times:
Second Recession in U.S. Could Be Worse Than First  —  If the economy falls back into recession, as many economists are now warning, the bloodletting could be a lot more painful than the last time around.  —  Given the tumult of the Great Recession, this may be hard to believe.
Discussion: The Raw Story
Marie Colvin / TheAustralian:
Sharia execution urged for Mubarak  —  THE spokesman for Egypt's Muslim Brotherhood, which portrays itself as a moderate Islamic movement, has called for execution and hand amputations if the Mubaraks are found guilty of murder and corruption.  —  “If a man has stolen millions of the state's money …
Noel Sheppard / NewsBusters.org blogs:
Cokie Roberts on Downgrade: ‘The Problem That We Have Here Is the Constitution’  —  ABC's Cokie Roberts said something on national television Sunday that made her colleague George Will shake his head on camera.  —  During a “This Week” discussion about the recent credit rating downgrade …
Glenn Harlan Reynolds / Washington Examiner:
Sunday Reflection: Why the GOP should give Obama the higher taxes he wants  —  Well, the debt deal is behind us, but it's clear that the White House wants more taxes.  Instead of fighting this head-on, the GOP might want to think about future ways of giving President Obama what he says he wants.
RELATED:
New York Times:
Palestinians and the U.N.  —  In little more than a month, the Palestinians are expected to ask the United Nations to recognize their state.  We have sympathy for their yearning and their frustration.  For years, they have been promised a negotiated solution — President Obama called …
Discussion: Israel Matzav and Pajamas Media
Adam Clymer / New York Times:
Mark O. Hatfield, Republican Champion of Liberal Causes, Dies at 89  —  Mark O. Hatfield, a liberal Republican who challenged his party's positions on the Vietnam War and on a balanced-budget amendment to the Constitution during his 30 years as a Senator from Oregon, died on Sunday.  He was 89.
Discussion: The Page
Zachary A. Goldfarb / Washington Post:
Geithner tells Obama he will remain as Treasury secretary  —  Treasury Secretary Timothy F. Geithner has told President Obama he plans to remain in his job through the fall of 2012, keeping in place Obama's longest-serving economic adviser after the first-ever U.S. credit downgrade and renewed fears of a second recession.
RELATED:
Dave Hill / Guardian:
Tottenham riots: This could happen in a dozen boroughs |  Dave Hill  —  I don't know what could have been done to avoid last night's explosion of resentment and criminality.  But I'm grimly confident of its potential elsewhere  —  The fires have been put out but the embers still burn hot …
RELATED:
Thomas L. Friedman / New York Times:
Win Together or Lose Together  —  IN the wake of the hugely disappointing budget deal and the S.& P.'s debt downgrade, maybe we need to hang a new sign in the immigration arrival halls at all U.S. ports and airports.  It could simply read: “Welcome.  You are entering the United States of America.
 
 
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 More Items: 
Jason Linkins / The Huffington Post:
TV SoundOff: Sunday Talking Heads
Discussion: Crooks and Liars
Blue Texan / Firedoglake:
Rick Perry: In Less Than Three Years, America Has Forgotten God, Needs to Repent
Discussion: NationalJournal.com
Alexander Bolton / The Hill:
S&P executive says it could take over a decade to restore US credit rating
 Earlier Items: 
Alex Seitz-Wald / ThinkProgress:
Paul Ryan Signals Willingness To Raise Revenues, Shifting Positions Following Downgrade
Discussion: Suburban Guerrilla
Steve Benen / Washington Monthly:
The worst thing the GOP has ever done?
Discussion: The Other McCain and Balloon Juice
Julie Creswell / New York Times:
Pressing All the Buttons for a Panic Attack
 

 
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Mark Gurman / Bloomberg:
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Wall Street Journal:
Lawmakers, TikTok staff, and others detail how TikTok lost the war in Washington, including due to CEO Shou Zi Chew's failure to build support on Capitol Hill

Karen Weise / New York Times:
Microsoft, Meta, and Alphabet disclosed that they had spent $32B+ combined on data centers and other capital expenses in Q1, as they accelerate AI spending

 
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