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7:40 AM ET, August 9, 2011

memeorandum

 Top Items: 
Mark Duell / Daily Mail:
Who ‘made $10bn on 10/1 bet that U.S. credit rating would be downgraded’?  —  A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.  —  Now questions are being asked of whether the trader …
RELATED:
Victor Morton / Washington Times:
Michael Moore to Obama: ‘Show some guts,’ arrest S&P head  —  Liberal firebrand Michael Moore called on President Obama to respond to the U.S. credit downgrade by arresting the leaders of the credit-ratings agencies.  —  On his Twitter feed Monday, the Oscar-winning film director also blamed …
Discussion: Pajamas Media and No Left Turns
Reuters:
Senate panel reviewing S&P downgrade  —  (Reuters) - The Senate Banking committee has begun looking into last week's decision by Standard and Poor's to downgrade the U.S. credit rating, a committee aide told Reuters on Monday.  —  The aide said the panel was gathering information …
Danny Yadron / Washington Wire:
Romney on S&P Move: 'I Don't Think It's Simply the President's Fault'
Peter Schroeder / The Hill:
Senate Banking looking into S&P downgrade
Susan Page / USA Today:
Obama's job approval  —  President Obama's job approval rating is 50% or higher in 16 states and D.C. Roll over each state to see how each rated Obama.  The darker the shade of the state, the higher his overall approval rating.  —  Source: Gallup  —  WASHINGTON — Another “wave” …
Discussion: The Politico and Booman Tribune
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The Nation:
Ben Adler  —  It is clear from Standard & Poor's statement downgrading the federal government's credit rating that it places the blame squarely on Republican actions and policies.  Two of S&P's biggest concerns about whether the United States will pay off its debt are whether Republicans …
Jeffrey M. Jones / Gallup:
Obama Job Approval 50% or Higher in 16 States and D.C.  —  Idaho residents least approving, at 27%  —  PRINCETON, NJ — Residents of 16 states and the District of Columbia gave President Obama approval ratings of 50% or higher during the first half of 2011, led by the District of Columbia, Connecticut, Maryland, and Delaware.
Ashley Parker / New York Times:
Back on Stump, Romney Faults Obama on Downgrade
Discussion: The Politico, CNN and The Caucus
The Politico:
Rick Perry to make 2012 intentions clear Saturday  —  Rick Perry intends to use a speech in South Carolina Saturday to make clear that he's running for president, POLITICO has learned.  —  According to two sources familiar with the plan, the Texas governor will remove any doubt …
RELATED:
R.G. Ratcliffe / Austin American-Statesman:
Will subsidies to farmer Perry come back to haunt presidential hopeful Perry?
Telegraph:
London riots: BBC criticised for branding thugs as ‘protesters’  —  The BBC was criticised for its political correctness last night after continually referring to the yobs rioting across London as “protesters”.  —  Two days after a peaceful protest over the death of suspected gangster Mark Duggan …
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Reuters:
British riots spread on third night of violence  —  * Rioting, looting spread across British capital  —  * Youths laugh, hurl bottles at police  —  * Looting breaks out in three other cities  —  Rioting and looting spread across and beyond London on Monday as hooded youths set fire …
Jeff Mason / Reuters:
Obama says he inherited economic problems  —  (Reuters) - President Barack Obama said on Monday he inherited many of the country's problems with high debt and deficits when he entered the White House, sounding a theme likely to dominate his 2012 re-election campaign.
RELATED:
Andrew C. McCarthy / National Review:
Those Colossal, Recklessly Irresponsible $2 Trillion Errors
Discussion: Pajamas Media
Caroline May / The Daily Caller:
The National Organization for Women defends Bachmann against Newsweek  —  One of presidential candidate Michele Bachmann's major political opponents is defending her against what it says is blatant sexism on the part of Newsweek magazine.  —  Monday, the National Organization for Women …
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JeeYeon Park / CNBC:
Stocks Off Lows, Dow Above 11,000; Vix Soars  —  Stocks pared some losses in heavy, choppy trading Monday but were still sharply lower as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing uncertainty over the euro zone crisis.
RELATED:
Josh Marshall / Talking Points Memo:
Disconnect  —  This piece on CNN Money says that “market …
Discussion: CNNMoney.com
Ken Sweet / CNNMoney.com:
Stocks: ‘Sell first, ask questions later’
Discussion: ABCNEWS
Sarah Palin / Facebook:
Conquering the Storm  —  In the coming days we'll sort through the repercussions of S&P's downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt.
David Axe / Danger Room:
Did a New Taliban Weapon Kill a Chopper Full of Navy SEALs?  —  Updated 8:36 a.m. EDT.  —  The passengers and crew of the twin-rotor CH-47 Chinook helicopter probably never saw the rocket hurtling towards them.  The explosion and fiery crash in Wardak province in eastern Afghanistan early …
RELATED:
Sabawoon Amarkhail / Agence France Presse:
US helicopter crashed in Taliban trap: Afghan official
Jennifer Rubin / Washington Post:
Obama's horrifyingly bad speech  —  He was a half hour late.  His head turned from side to side as if he were attending a tennis match.  He practically never looked in the camera, as if he were averting our gaze.  And those were the strong parts of President Obama's disastrous speech.
John Hempton / Bronte Capital:
Who has got the margin call?  —  Bronte Capital tends - as this blog has said many times - to be long large cap and relatively liquid companies at 10-16 PE ratios.  —  And we are short the wildest range of frauds, fads and failures you can imagine.  —  Our shorts are small and relatively illiquid.
Molly K. Hooper / The Hill:
House leaders end page program  —  House Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.) announced they were ending the House page program.  —  As of Aug. 31, the program — which employs nearly 70 high school students to serve as messengers and couriers …
Joshua Spivak / The Recall Elections Blog:
What to expect when you're expecting recalls: A guide to state legislative recalls  —  While the political arguments surrounding tomorrow's Wisconsin recall elections are well covered elsewhere, I'd like to draw attention to the many issues and history surrounding the use of the recall - both in Wisconsin and the rest of the nation.
Discussion: Ben Smith's Blog
 
 
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 More Items: 
Julie Bolcer / Advocate:
THE CUOMO EVOLUTION  —  New York governor Andrew Cuomo talks …
David Weigel / Slate:
Bachmann: Debt Limit Hike Caused the Downgrade
RushLimbaugh.com:
Obamageddon, Barackalypse Now! Bam is “Debt Man Walking” in 2012
Discussion: Power Line and Don Surber
Robert Stacy McCain / The Other McCain:
Denison: Overflow Crowd Hears Herman Cain Slam Obama: 'That's Not Leadership!'
fdlreporter.com:
RECALL ELECTION 18th SENATE: Clerks expecting heavy turnout
Discussion: Daily Kos and Talking Points Memo
Cornelia Dean / New York Times:
Groups Call for Scientists to Engage the Body Politic
William Glaberson / New York Times:
Dog Helps Young Rape Victim Testify
 Earlier Items: 
Daily Kos:
Jennifer Shilling (D): 54 (56) Dan Kapanke (R-inc): 43 (42)
Paul Krugman:
Wonking Out About the Euro Crisis (Very Wonkish)
Discussion: Modeled Behavior and JustOneMinute
Justin Elliott / Salon:
The abortion that Mitt doesn't talk about anymore
Discussion: TBogg
Paul Krugman:
It's a Growth Scare
Discussion: Grasping Reality …