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1:10 PM ET, January 22, 2008

memeorandum

 Top Items: 
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.
RELATED:
Washington Post:
Fed Cuts Key Interest Rate as Asian Markets Drop for Second Day  —  The Federal Reserve today slashed the short-term interest rate it controls by three-quarters of a percentage point, a surprise move meant to keep plummeting stock markets around the world from threatening the underpinnings of the world economy.
Larry Kudlow / The Corner:   The Fed Got It Right
Madlen Read / Associated Press:
Stocks plunge on recession fears
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.
RELATED:
Jim Tankersley / The Swamp:
Clinton keeps up Obama attacks in D.C.
Discussion: The Hill, The Politico and The Plank
CNN:
Bill Schneider's take on last night's Democratic debate:
Discussion: The Trail and MyDD
David Brooks / New York Times:
The Voters Revolt  —  The Reagan administration had its pragmatists and its so-called ideologues.  It had James Baker as well as Ed Meese.  Reagan carried moderate states like Connecticut, Wisconsin and Washington, as well as conservative ones like Wyoming and South Carolina.
RELATED:
Fred Barnes / Wall Street Journal:
Now McCain Must Convince The Right
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.
RELATED:
Stephen Farrell / New York Times:
Hopes for Vehicle Questioned After Iraq Blast  —  ARAB JABOUR, Iraq — From the blast and the high, thin plume of white smoke above the tree line, it looked and sounded like any other attack.  The bare details were, sadly, routine enough: a gunner was killed and three crew members …
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.
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 …
Discussion: New York Times and Pat Dollard
RELATED:
NY Daily News:
Bomb terror probe
Discussion: Pat Dollard
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.
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 …
Discussion: Emptywheel and Balkinization
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.
Eugene Robinson / Washington Post:
What's Gotten Into Bill?  —  Six months ago, Bill Clinton seemed to be settling comfortably into roles befitting a silver-maned former president: statesman, philanthropist, philosopher-king.  Now he has put all that high-mindedness on hold — maybe it was never such a great fit, after all …
RELATED:
Adam Nagourney / New York Times:
Remarks on Reagan Live On
John R. Emshwiller / Wall Street Journal:
Bill Clinton May Get Payout of $20 Million  —  Former President Clinton stands to reap around $20 million — and will sever a politically sensitive partnership tie to Dubai — by ending his high-profile business relationship with the investment firm of billionaire friend Ron Burkle.
Discussion: The Campaign Spot and Jezebel
Gateway Pundit:
Miss Utah “GI Jill” Stevens Needs Your Help  —  “Obviously she is bright and attractive, but most important, she's a terrific soldier.” … Miss Utah “GI Jill” Stevens needs your vote to help her win Miss America in Atlantic City this Saturday, January 26, 2008.
RushLimbaugh.com:
Why Should We Shut Up?  —  BEGIN TRANSCRIPT  —  RUSH: One closing thought from the previous hour: I'm noticing this in a lot of conservative media.  Those of us who are opposing these McCain... Let me set this up a better way.  When Huckabee was coming out of nowhere in Iowa …
 
 
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 More Items: 
You Decide 08!:
PAUL BLAMES FEDERAL RESERVE FOR WEAK ECONOMY
Discussion: The Campaign Spot
Curt Anderson / Associated Press:
Jose Padilla is sentenced to 17 years
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
Examiner:
Tax cuts are the best stimulus
Confederate Yankee:
Scott Thomas Beauchamp's “Shock Troops” Statements
 Earlier Items: 
Walter Shapiro / Salon:
The knives come out in South Carolina
Larry Kudlow / The Corner:
Take Charge, Central Bankers
Discussion: Biased BBC
New York Times:
Romney Waxes Lyrical at a Holiday Parade in Florida
CNN:
Part 1 of CNN Democratic presidential debate
Fox News:
Iran Warns Netherlands Not to Air Controversial ‘Anti-Muslim’ Film