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3:00 PM ET, January 22, 2008


 Top Items: 
Marc Ambinder:
Thompson Decides To Drop Out  —  Ex-Sen. Fred Thompson has told several Republicans that he has decided to drop out of the presidential race and will make public his intentions by close of business.  —  Thompson does not plan to endorse any rivals for now, even though one of his best friends is Sen. John McCain.
The Campaign Spot:
Fred Out of Thursday's Debate; Doesn't Plan on Endorsing  —  I spoke to one of my Thompson sources.  —  He's still with his ailing mother.  “He's just being a good son."  —  He has not spoken to any other campaign or any other candidates, nor does he intend to at this time.
Satyam / Think Progress:
Thompson drops out.  —  Fox News reports that former Tennesee senator Fred Thompson is dropping out of the Republican race for President.  Via Fox reporter Carl Cameron:
Discussion: Booman Tribune and The Seminal
Fred Thompson / You Decide 08!:
Thompson to Drop Presidential Bid  —  Fred Thompson dropped his presidential bid Tuesday, after the former Tennessee senator and actor finished third in the South Carolina primary and was unable to score a victory in any of the early primaries or caucuses.  —  “Today I have withdrawn my candidacy for President of the United States.
Discussion: small dead animals
Board of Governors of the Federal Reserve System:
For immediate release  —  The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.  —  The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth.
Washington Post:
Fed Cuts Key Interest Rate as Asian Markets Drop for Second Day  —  The European stock markets responded favorably to the Federal Reserve's surprise short-term interest rate cut today, while Wall Street remained more skeptical as it attempted to climb back up to even during midday trading.
Larry Kudlow / The Corner:   The Fed Got It Right
John Edwards / CNN:
Clinton, Edwards hold private post-debate meeting  —  MYRTLE BEACH, South Carolina (CNN) — What were they talking about?  —  Hillary Clinton and John Edwards met privately backstage following a very contentious Democratic presidential debate in this coastal city, sources with both campaigns confirm to CNN.
Bill Schneider's take on last night's Democratic debate:
Discussion: The Swamp, The Trail and MyDD
Fred Barnes / Wall Street Journal:
Now McCain Must Convince The Right  —  John McCain has a problem.  After winning South Carolina's primary last Saturday, he should be the overwhelming favorite to capture the Republican presidential nomination.  He's not, at least not yet, and the reason is that he's alienated so many conservatives over the past eight years.
The Smoking Gun:
Hey Kids, Shoot Your Favorite Candidate!
Discussion: Pat Dollard and Hot Air
Matthew Yglesias:
Someone Didn't Get The Word  —  Fareed Zakaria: … Ah, those sad, sad, Democrats.  So unaware that the war's over.  The dude who killed at least fourteen and wounded seventeen in Tikrit must, like the Democrats, have been wearing partisan blinders when he failed to acknowledge the surge's success in bringing the war to an end.
Ian Traynor / Guardian:
Pre-emptive nuclear strike ‘an option’  —  The west must be ready to resort to a pre-emptive nuclear attack to try to halt the “imminent” spread of nuclear and other weapons of mass destruction, according to a radical manifesto for a new Nato by five of the west's most senior military officers and strategists.
Robert Pear / New York Times:
Earmarks Likely to Continue, but With Details  —  WASHINGTON — President Bush is unlikely to defy Congress on spending billions of dollars earmarked for pet projects, but he will probably insist that lawmakers provide more justification for such earmarks in the future, administration officials said Monday.
The Prowler / American Spectator:
Huckabee Broke  —  Less than a month after a huge upset victory, and promises that fundraising would be ramped up, former Arkansas Gov. Mike Huckabee is asking his senior staff to keep working for him without pay, while lower level campaign staff are seeing their salaries cut dramatically or eliminated altogether.
Michelle Malkin:
Mystery in Brooklyn: Bomb factory at Columbia University professor's home  —  The NY Daily News reports today on a disturbing discovery at a Columbia University instructor's home: … Clatts cannot be located.  Who is he? … The NYTimes reports on a bizarre twist in the case …
Manu Raju / The Hill:
Attorneys probe deepens  —  The federal investigation into the firing of nine U.S. attorneys could jolt the political landscape ahead of the November elections, according to several people close to the inquiry.  —  Washington's attention has been diverted from the scandal since …
New York Times:
In Matters Big and Small, Crossing Giuliani Had Price  —  Rudolph W. Giuliani likens himself to a boxer who never takes a punch without swinging back.  As mayor, he made the vengeful roundhouse an instrument of government, clipping anyone who crossed him.  —  In August 1997, James Schillaci …
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 More Items: 
Gray Davis / Los Angeles Times:
California needs a ‘rainy day’ fund
Discussion: Washington Monthly and D-Day
Wall Street Journal:
Tough Calls, Good Calls
Greg Moran / San Diego Union-Tribune:
60-year sentence urged for Wilkes
Rob Stein / Washington Post:
As Abortion Rate Drops, Use of RU-486 Is on Rise
Discussion: Jezebel and PoliGazette
Matthew Yglesias:
Urban Reform  —  My brief is really to write about national issues …
Discussion: Lean Left and Washington Post
Little Green Footballs:
Netherlands Merchant Puts Anne Frank in a Kaffiyeh
Curt Anderson / Associated Press:
Jose Padilla is sentenced to 17 years
Why Should We Shut Up?  —  BEGIN TRANSCRIPT  —  RUSH …
 Earlier Items: 
David Streitfeld / New York Times:
Feeling Misled on Home Price, Buyers Sue Agent
Discussion: PointOfLaw Forum
Paul Krugman:
Deep? Maybe. Long? Probably.
Discussion: The Plank
Washington Post:
White House Has No Comprehensive E-Mail Archive
Gateway Pundit:
Miss Utah “GI Jill” Stevens Needs Your Help
Confederate Yankee:
Scott Thomas Beauchamp's “Shock Troops” Statements
Discussion: Hot Air and Pat Dollard
John R. Emshwiller / Wall Street Journal:
Bill Clinton May Get Payout of $20 Million
Discussion: The Campaign Spot and Jezebel
Eugene Robinson / Washington Post:
What's Gotten Into Bill?