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7:25 PM ET, September 20, 2008

memeorandum

 Top Items: 
Paul Krugman:
No deal  —  I hate to say this, but looking at the plan as leaked, I have to say no deal.  Not unless Treasury explains, very clearly, why this is supposed to work, other than through having taxpayers pay premium prices for lousy assets.  —  As I posted earlier today, it seems all too likely that a …
RELATED:
David M. Herszenhorn / New York Times:
Administration Is Seeking $700 Billion for Wall Street Bailout  —  WASHINGTON — The Bush administration on Saturday formally proposed to Congress what could become the largest financial bailout in United States history, requesting unfettered authority for the Treasury Department to buy up to $700 billion in mortgage-related assets.
Brookings Institute:
Concerns about the Treasury Rescue Plan  —  Financial Markets, Financial Institutions, Federal Reserve, Governance, U.S. Economy  —  Douglas W. Elmendorf, Senior Fellow, Economic Studies  —  Amid continued tumult in financial markets, the Treasury Department has developed a systematic plan to stabilize the financial system.
Dean Baker / TPMCafe:
Progressive Conditions for a Bailout
Discussion: Matthew Yglesias and The G Spot
CNNMoney.com:
Treasury's bailout proposal
Discussion: TalkLeft
FactCheck.org:
Scaring Seniors  —  An Obama-Biden ad says McCain supports “cutting benefits in half” for Social Security recipients.  False!  —  A new Obama ad characterizes the “Bush-McCain privatization plan” as “cutting Social Security Benefits in half.”  This is a falsehood sure to frighten seniors who rely on their Social Security checks.
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CNN:
Obama hammers McCain over Social Security  —  DAYTONA BEACH, Florida (CNN) - Barack Obama told voters here that if John McCain became president he would “privatize” their Social Security - a debate over the program that could resurface as a major issue in the closing weeks of the campaign given the wild swings in financial markets.
Discussion: TalkLeft and BrothersJudd Blog
Frank James / The Swamp:
McCain's bad timing on SS reform
Glen Johnson / Associated Press:
McCain, aides defend idea of private Social Security accounts …
Discussion: Washington Monthly
John McCormick / The Swamp:
Obama hits McCain on Social Security
Discussion: The New Editor
Associated Press:
Poll: Racial misgivings of whites an Obama issue  —  WASHINGTON (AP) — Deep-seated racial misgivings could cost Barack Obama the White House if the election is close, according to an AP-Yahoo News poll that found one-third of white Democrats harbor negative views toward blacks — many calling them …
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Al Giordano / The Field on the Narcosphere:
The AP's Ron Fournier: Racial Arsonist and Unethical Journalist  —  Deep-seated racial misgivings could cost Barack Obama the White House if the election is close, according to an AP-Yahoo News poll that found one-third of white Democrats harbor negative views toward blacks - many calling them …
Gallup:
Gallup Daily: Obama 50%, McCain 44%  —  PRINCETON, NJ — Gallup Poll Daily tracking from Wednesday through Friday finds Barack Obama maintaining his lead over John McCain among registered voters, by a 50% to 44% margin.  —  Obama has held at least a small margin over McCain in each …
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Jay Cost / HorseRaceBlog:   The State of the Race  —  There's been a lot of talk …
Patrick Healy / New York Times:
Debate Pact Lets McCain and Obama Spar  —  The Obama and McCain campaigns have agreed to an unusual, free-flowing format for the three televised presidential debates, which begin on Friday, but the McCain camp fought for and won a much more structured approach for the questioning …
Discussion: TalkLeft
Carlotta Gall / New York Times:
At Least 40 Are Killed in Blast at Pakistan Hotel  —  ISLAMABAD, Pakistan — A huge truck bomb exploded at the entrance to the Marriott Hotel in Islamabad on Saturday evening, just a few hundred yards from the prime minister's house, where all the leaders of government were dining after the president's address to Parliament.
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Moira Whelan / democracyarsenal.org:
Does John McCain understand the Army?  —  Hat Tip to E&P for catching this one and alerting folks to it: … To some, confusing the Army National Guard and the Army would seem a small thing, but to someone with John McCain's family history, this is a pretty big slip up.
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Paul Krugman:
Uneasy feelings  —  Details are scarce on the big buyout; but as a few dribble out, I'm getting uneasy.  —  Here's the source of my uneasiness: the underlying premise behind the buyout seems, still, to be that this is mainly a liquidity problem.  So if the government stands ready to buy securities at “fair value”, all will be well.
RELATED:
Kevin Drum / Mother Jones:
Solvency vs. Liquidity
Discussion: JustOneMinute and Balloon Juice
Jeffrey Diamond / ABCNEWS:
Transgendered Woman Wins Sex Discrimination Case  —  In Potentially Groundbreaking Case, Court Finds Sex Discrimination Law Applies to Transgendered Woman  —  A transgendered woman, who lost a job offer because of her sexual status, has won a potentially groundbreaking federal sex discrimination lawsuit.
Jackie Calmes / New York Times:
Dazed Capital Feels Its Way, Eyes on Election  —  WASHINGTON — The huge bailout of the financial system that the Bush administration and Congress are rushing to draft will leave taxpayers with at least part of the bill at a time when high gasoline prices, job losses and stagnant incomes …
RELATED:
New York Times:
Behind Closed Doors, Warnings of Calamity
Discussion: The Democratic Daily
Allahpundit / Hot Air:
Report: Organizers of Iran rally threatened with loss of tax-exempt status if they invited Palin  —  Name 'em and shame 'em.  Seriously.  Fox News and the Journal should be all over this.  Judging from the number of Democrats quoted in the piece as being upset about it, there's no shortage of people willing to leak.
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John Amato / Crooks and Liars:
Cavuto says McCain-Palin sound just like Obama-Biden  —  I was watching the FOX News Business network Friday night — so you don't have to — and Cavuto was in full on depression mode.  McCain is into populism now, ‘he sounds like Obama,’ said Cavuto.  That's what's happened to conservatism.
Discussion: The Agonist
Gordon Trowbridge / Detroit News:
Obama has slight edge on McCain in Mich.  —  Poll: Democrat leads 43% to 42%; veep choices have had little impact.  —  Democrat Barack Obama has the smallest possible lead — one point — over Republican John McCain in battleground Michigan, according to a new poll, setting up a six-week sprint …
Discussion: Commentary
 
 
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 More Items: 
John Quiggin / Crooked Timber:
Moral hazard, meet adverse selection
John Amato / Crooks and Liars:
Rachel Maddow's ratings are incredible
Jo Mannies / St. Louis Post-Dispatch:
McCain takes slight lead in Mo., new poll finds
Discussion: The New Republic
Michael Luo / The Caucus:
McCain Breaks His Record in August, Raising More Than $47 Million
Discussion: New York Times and Don Surber
Alexander Mooney / CNN:
Biden in hot water with some Ohioans
Discussion: pandagon.net and Townhall.com
 Earlier Items: 
The Moderate Voice:
Oh Sarah! The Week That The Music Stopped
Discussion: Daimnation!
Noemie Emery / Weekly Standard:
The Palin Effect  —  Her enemies are bellowing like a wounded moose.
Discussion: American Power