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2:10 PM ET, September 30, 2008

memeorandum

 Top Items: 
David Brooks / New York Times:
Revolt of the Nihilists  —  In 1933, Franklin Roosevelt inherited an economic crisis.  He understood that his first job was to restore confidence, to give people a sense that somebody was in charge, that something was going to be done.  —  This generation of political leaders is confronting …
RELATED:
Peter Wehner / The Corner:
Speaker Spoke  —  I consider Nancy Pelosi to be one of the worst political figures of my lifetime: hyper-partisan, small-minded, and wrong on issue after issue.  And I thought her speech on the House Floor yesterday — tearing into the president and Republicans when her job was to rally support …
Nitya / Political Punch:
And What About Those 95 Democrats?  —  Yes, House Republicans didn't deliver many votes and 66% of them voted against the bill.  —  But considering that only a dozen votes needed to switch in order to provide a different outcome, and 95 Democrats in the House voted against it …
Mark R. Levin / The Corner:
Thank You, House Republicans  —  I have read the posts here and elsewhere.  Sometimes these things are made to look more complicated than they really are.  From an economic perspective, if the problem is liquidity and credit, there simply is no need for the federal government to assume massive amounts …
Discussion: protein wisdom and PrestoPundit
New York Times:
With Deal's Collapse, the McCain Camp Attacks
Myglesias / Matthew Yglesias:
Brooks: House 'Wingers Are Destroying the GOP
Ben Smith / Ben Smith's Blogs:
RNC ad, was cut, sent out before package failed  —  The Republican National Committee's new advertisement critical of the the Wall Street “bailout” was produced and sent to television stations in key states before the package failed, officials at two stations said.  —  “Wall Street Squanders our money.
RELATED:
Roger Simon / The Politico:
Biden's strategy: Go easy on Palin  —  If Sarah Palin goofs, flounders, stumbles or blunders during her debate against Joe Biden on Thursday night, Biden is going to let it slide.  —  “If she makes a gaffe, he underplays it,” one of the people prepping Biden for his vice presidential debate told me.
RELATED:
Ryan Corsaro / CBS News:
Biden Focuses on Debate Prep, Mishears Question on Rejection of Bailout Bill
Mark Silva / The Swamp:
Obama-McCain debate: TV also-rans
Discussion: TIME.com
MarketBeat:
Overnight-Lending Markets Still Flashing Red  —  Min Zeng and Mark Gongloff report.  —  If you only watch the stock market, where the Dow was recently up more than 250 points, you might get the mistaken impression all is well with the world on the Tuesday after the latest Black Monday.
RELATED:
Tyler Cowen / Marginal Revolution:
The best and worst case scenarios  —  The best case scenario: The bad banks continue to be bought up, there is no run on hedge funds next Tuesday, only mid-sized European banks fail, money market funds keep on buying commercial paper, and the Fed and Treasury continue to operate on a case-by-case basis.
Ezra Klein / American Prospect:
STATE OF THE CREDIT MARKETS.  —  As an unsettling follow-up to the previous post, the credit markets are, as the Wall Street Journal puts it, blinking red.  And it's worth being clear on what this means.  Wall Street is Wall Street.  It remains primarily a playground for the wealthy.
Dana Milbank / Washington Post:
A House Divided Along Twisted Lines  —  The bailout bill was going down to defeat on the House floor yesterday, and Democratic and Republican leaders were desperately trying to twist arms and change votes when a bipartisan group of backbenchers began to heckle them.
RELATED:
Bill Sammon / Fox News:
Unlike Clinton, Biden Gets Pass for Saying He Was ‘Shot At’ in Iraq  —  When Hillary Clinton told a tall tale about “landing under sniper fire” in Bosnia, she was accused of “inflating her war experience” by Barack Obama's campaign — but the campaign has been silent about Joe Biden telling …
Discussion: Townhall.com
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Andrew Malcolm / Top of the Ticket:
After Sarah Palin VP debate, Joe Biden to step aside for Hillary Clinton?
Discussion: Washington Post
New York Sun:
Ideal of the Scoop  —  Following are excerpts of remarks by the Editor of the Sun, Seth Lipsky, to the newspaper's staff:  —  It is my duty to report today that Ira Stoll and I and our partners have concluded that the Sun will cease publication.  Our last number will be the issue dated September 30, the first day of Rosh Hashanah.
Amanda / Think Progress:
Media: Bush Is The ‘Picture Of A Beaten Dog’  —  In the wake of yesterday's congressional meltdown over the bailout bill, President Bush gave a speech this morning, meant to reassure the public and the volatile financial markets.  Just four minutes long, the address expressed disappointment …
RELATED:
Jeffrey M. Jones / Gallup:
Bush's Approval Rating Drops to New Low of 27%
Discussion: Slog
Jacques Steinberg / New York Times:
With Brokaw as Elder Statesman, NBC Plans Future of ‘Meet the Press’  —  WASHINGTON — Sometime between Election Day and early December, NBC News will make a final decision about who will replace Tim Russert and his interim successor, Tom Brokaw, at the helm of “Meet the Press,” Steve Capus …
Jeffrey A. Miron / CNN:
Commentary: Bankruptcy, not bailout, is the right answer  —  Editor's note: Jeffrey A. Miron is senior lecturer in economics at Harvard University.  A Libertarian, he was one of 166 academic economists who signed a letter to congressional leaders last week opposing the government bailout plan.
David Kurtz / Talking Points Memo:
IF AT FIRST YOU DON'T SUCCEED, SUSPEND AGAIN!  —  John McCain made the morning show rounds today.  On Fox they were virtually begging him to “suspend” his campaign again in the wake of the bailout failure yesterday on the Hill.  You know, since it worked out so well the first time.
Steve / Nielsen Wire:
McCain And Obama Highs And Lows From Debate Dial Tests  —  During the first presidential debate on September 26, Barack Obama's comments on oil independence, health care, the Iraq War, and Al Qaeda drew the most positive responses from a panel of uncommitted, registered voters who allowed CBS …
 
 
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 More Items: 
Megan McArdle:
Raising Arizona
Discussion: Trailhead and The RBC
John Prendergast / The Huffington Post:
China's Deadly Investments
Discussion: UN Dispatch
Ben Smith / Ben Smith's Blogs:
Hugo of Arabia?  —  A Democrat sends over this clip …
Eric Lichtblau / New York Times:
Prosecutor Is Named in Dismissal of Attorneys
Eric Dash / New York Times:
With Wachovia Sale, the Banking Crisis Trickles Up
Discussion: JustOneMinute
Jane Hamsher / Firedoglake:
GOP In Disarray, Won't Follow McCain
Discussion: Boston Herald
Myglesias / Matthew Yglesias:
The Paulson Crisis
Los Angeles Times:
The green bubble bursts
Discussion: Opinion L.A.
 Earlier Items: 
Mark Murray / MSNBC:
FIRST THOUGHTS: WHO SHOULDN'T BE BLAMED
Brian M. Riedl / Heritage Foundation:
$700 billion bailout? You ain't seen nothin'
Discussion: Townhall.com
Jenny Lee-Adrian / Poughkeepsie Journal:
Errant e-mail costs GOP chief post
Bob Herbert / New York Times:
When Madmen Reign
 

 
From Mediagazer:

Ashley Belanger / Ars Technica:
A House committee report claims the Global Alliance for Responsible Media colluded to cut Twitter revenue after Musk's acquisition; GARM guidance is non-binding

Aisha Malik / TechCrunch:
Three US senators introduce the COPIED Act, which aims to give journalists, songwriters, and artists tools to fight AI models using their work without consent

Financial Times:
Sources: Axel Springer CEO Mathias Döpfner and KKR are in talks to break Axel Springer in two, separating media assets from its digital classifieds business

 
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