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3:35 AM ET, September 17, 2008

memeorandum

 Top Items: 
New York Times:
Fed's $85 Billion Loan Rescues Insurer  —  By EDMUND L. ANDREWS, MICHAEL J. de la MERCED and MARY WILLIAMS WALSH  —  WASHINGTON — Fearing a financial crisis worldwide, the Federal Reserve reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control …
RELATED:
Wall Street Journal:
U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up  —  $85 Billion Loan for Giant Insurer Aimed at Averting Collapse;  —  Historic Move Would Cap 10 Days That Reshaped U.S. Finance;  —  Fed Says AIG Will Sell Businesses in Orderly Manner
Board of Governors of the Federal Reserve System:
For release at 9:00 p.m. EDT  —  The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG) under section 13(3) of the Federal Reserve Act.
David Leonhardt / New York Times:
Perhaps, Time for Someone to Play Offense  —  WASHINGTON — Late last week, as Lehman Brothers was collapsing, an all-star group of economists was meeting here to ponder the lessons of the financial crisis.  The group included Donald Kohn, the vice chairman of the Fed, and Edward Lazear …
Discussion: Angry Bear
Edmund L. Andrews / International Herald Tribune:
Fed rescues AIG with $85 billion loan for 80% stake
Discussion: LewRockwell.com Blog
Mike Allen / The Politico:   Pelosi orders wide Wall Street probe
Reuters:
AIG rescued by Fed, Barclays buys Lehman U.S. unit
Discussion: DealBook and FP Passport
Bess Levin / Dealbreaker:
Fed [May] Does Offer Bridge Loan To AIG
Discussion: Conglomerate
Michelle Malkin:
Mother of all bailouts: $85 billion to AIG
Discussion: The American Mind
Myglesias / Matthew Yglesias:   The Commanding Heights
Megan McArdle:   Hindsight regulation … But I don't blame it on Clinton.
Stephen Labaton / New York Times:   Some Seek Agency to Buy Bad Debt as Long-Term Answer
DealBook:   Fed to Offer Bridge Loan to A.I.G. and Take Control of Firm
CNN:
Fiorina's comment called ‘Biden-like’  —  (CNN) — Top McCain-Palin official Carly Fiorina is facing criticism from some within the campaign for a day of what they call “very Biden-like” comments, after the former Hewlett-Packard CEO told two separate interviewers that neither member …
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The Huffington Post:
Fiorina: Palin Doesn't Have Experience To Run A Major Company  —  Carly Fiorina, a key surrogate for John McCain on economic issues, said on Tuesday that Sarah Palin does not have the experience needed to run a major company like the one that Fiorina formerly headed.
Jonathan Martin / Jonathan Martin's Blogs:
Holtz-Eakin: McCain helped create BlackBerry  —  Asked what work John McCain did as chairman of the Senate Commerce Committee that helped him understand the financial markets, the candidate's top economic adviser wielded visual evidence: his BlackBerry.  —  “He did this,” Douglas Holtz-Eakin …
RELATED:
David Hanners / TwinCities.com:
GOP delegate's hotel tryst goes bad when he wakes up with $120,000 missing  —  He met her in the bar of the swank hotel and invited her to his room.  Once there, the woman fixed the drinks and told him to get undressed.  —  And that, the delegate to the Republican National Convention told police, was the last thing he remembered.
RELATED:
Ed Morrissey / Hot Air:   Alaskan lawmakers to file suit to stop legislative probe run amuck
Eric Boehlert / Media Matters for America:
McCain and Palin are laughing at the press — and it's the press' fault  —  Chris Matthews was steamed.  —  As John McCain's manufactured “lipstick on a pig” story was taking flight last week, Matthews, host of MSNBC's Hardball, kicked off the hour by teeing up the story.
Discussion: First Draft and Crooks and Liars
Ben Smith / The Politico:
GOP group behind negative Obama poll  —  A Republican group is taking responsibility for a poll that has roiled the Jewish community by asking sharply negative questions about Senator Barack Obama.  —  The Republican Jewish Coalition, which is launching a campaign against Obama on behalf …
Board of Governors of the Federal Reserve System:
For immediate release  —  The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.  —  Strains in financial markets have increased significantly and labor markets have weakened further.  Economic growth appears to have slowed recently …
McCainPedia:
Count the Lies  —  John McCain may be trying to sell himself as a “maverick” and a “straight talker” who will tell the truth no matter the consequences, but independent, non-partisan watchdog groups aren't buying it.  But, since he wrapped up his party's nomination, John McCain has offered more of the same false attacks and smears.
Discussion: The Huffington Post
Philip Gourevitch / New Yorker:
THE STATE OF SARAH PALIN  —  The peculiar political landscape of the Vice-Presidential hopeful.  —  It rained a lot in Alaska this summer—even more than usual—and it was a cold summer, too.  The sun doesn't set on much of the state between mid-June and mid-July, but the weather …
Discussion: MoJoBlog and The Right Coast
Kathryn Jean Lopez / The Corner:
Laura Ingraham vs. David Brooks  —  From her daily e-blast:
Sean Penn / The Huffington Post:
Country First (or, How The Media Loves A Lipsticked Rumsfeld)  —  Banks are falling and businesses busting, middle-class Americans are losing their homes in droves, while greedy poison comes a tricklin' down!!!  —  But, “the fundamentals are good!”  John McCain said they're good.
Discussion: The Other McCain
Victor Davis Hanson / The Corner:
Reaching Critical Mass  —  The sudden change in the polls the last 10 days, even though it may be temporary, has prompted a furor in the media that has no parallel in modern election history.  Vicious words like “treason”, “abasement”, “liar”, and “lying” are in the air now in an unheralded attack on McCain …
 
 
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 More Items: 
JTA:
Palin to speak at anti-Iran rally
Discussion: Gateway Pundit
Dave / Ace of Spades HQ:
Rumor: McCain Supposedly Mulling Endorsing the Gang of Ten …
Discussion: Michelle Malkin
The Politico:
Historians say McCain camp not sleaziest
Discussion: Sister Toldjah
Colin Moynihan / New York Times:
Questions Emerge Over Police Conduct in St. Paul
Discussion: Slog
Ed Morrissey / Hot Air:
Sebelius: Say, did you know Republicans are racists? …
 Earlier Items: 
Justin Wolfers / Freakonomics:
Competing Tax Plans: Two Perspectives
Taegan Goddard / Political Insider:
Obama vs. Palin
Discussion: Taegan Goddard's …
Jonathan Martin / The Politico:
McCain press pack stages mini-insurrection
Discussion: Newshoggers.com