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4:30 PM ET, October 6, 2008

memeorandum

 Top Items: 
Paul Krugman / New York Times:
Health Care Destruction  —  Sarah Palin ended her debate performance last Thursday with a slightly garbled quote from Ronald Reagan about how, if we aren't vigilant, we'll end up “telling our children and our children's children” about the days when America was free.  It was a revealing choice.
RELATED:
Laura Meckler / Wall Street Journal:
McCain Plans Federal Health Cuts  —  Medicare, Medicaid Spending Would Be Reduced to Offset Proposed Tax Credit  —  John McCain would pay for his health plan with major reductions to Medicare and Medicaid, a top aide said, in a move that independent analysts estimate could result in cuts …
Jonathan Cohn / The New Republic:
McCain: I'm Not Raising Taxes. I'm Cutting Medicare!
Josh Marshall / Talking Points Memo:
MCCAIN'S OTHER SHOE DROPS
Discussion: Newshoggers.com
John McCormack / Weekly Standard:   Obama Campaign Won't Say if Health Care Plan Would Cover Abortions
William Kristol / New York Times:
The Wright Stuff  —  I spoke on the phone Sunday with Sarah Palin, who was in Long Beach, Calif., preparing to take off on her next campaign trip.  It was the first time I'd talked with her since I met her in far more relaxed circumstances in Alaska over a year ago.
RELATED:
Howard Wolfson / The New Republic:
It's Over: Why Bill Ayers Won't Save John McCain  —  Perpetually fretting Democrats will not want to accept it.  The campaigns themselves can't afford to believe it.  Many journalists know it but can't say it.  And there will certainly be some twists and turns along the way.
Wall Street Journal:
Biden's Fantasy World
Ben Smith / Ben Smith's Blogs:
Engaging on Keating  —  I'd always thought McCain's great strength in defending the Keating affair was that he'd acknolwedged making a huge mistake, and spent his career repenting by recasting himself as a reformer.  —  So when his campaign puts his lawyer on the line with reporters to contest …
RELATED:
John Aravosis / AMERICAblog News:
McCain campaign: Keating Five investigation was ‘a political smear job’ on John McCain  —  Holy crap.  —  I'm listening to the McCain campaign conference call about John McCain's involvement in the Keating Five scandal.  McCain's lawyer just said that the Keating Five investigation was “political” as it concerned John McCain.
Krooney / TIME.com:
American History Lesson, Keating Edition
RELATED:
Mark Halperin / TIME.com:
McCain's Monday Remarks in Albuquerque  —  All: Please see excerpt from John McCain's remarks as prepared for delivery today in Albuquerque, New Mexico:  —  My opponent has invited serious questioning by announcing a few weeks ago that he would quote — “take off the gloves.”
Erick Erickson / www.redstate.com:
This Week is the Last Week  —  At this point, the campaign …
RELATED:
Scott Conroy / CBS News:
Lagging In The Polls, Palin Shifts To Fear Tactics  —  From CBS News' Scott Conroy:  —  (FORT MYERS, FLA.) On the day when the McCain campaign released a new attack ad not-so-subtly titled “Dangerous,” Sarah Palin made a concerted effort to use words like “fearful” and “afraid” …
RELATED:
Mark Silva / The Swamp:
Palin softens ‘terrorist’ attack on Obama
Discussion: Ben Smith's Blogs
Natalie Gewargis / Political Radar:
Palin Plays Fear Card on Obama
Discussion: Commentary and Political Punch
Joe Klein / Swampland:
Embarracuda  —  I'm of two minds about how to deal with the McCain campaign's further descent into ugliness.  Their strategy is simple: you throw crap against a wall and then giggle as the media try to analyze the putresence in a way that conveys a sense of balance: “Well, it is bull-pucky …
Ben White / New York Times:
Lehman Chief Says Turmoil Overwhelmed Bank  —  Even as the investment bank Lehman Brothers pleaded for a federal bailout to save it from bankruptcy protection, it approved millions of dollars in bonuses for its departing executives, a Congressional committee was told Monday.
Discussion: Balloon Juice, TVNewser and Truthdig
RELATED:
Julie Hirschfeld Davis / Associated Press:   Congress opens hearings on financial meltdown
Gallup:
Gallup Daily: Obama Leads 50% to 42%  —  Obama remains statistically ahead for tenth straight day  —  PRINCETON, NJ — Barack Obama leads John McCain among registered voters across the country by a 50% to 42% margin in Gallup Poll Daily tracking from Oct. 3-5, the tenth straight day in which Obama …
Megan McArdle:
How did it all happen?  —  As I write this, the dow is down 430 points, below 10,000 for the first time in four years.  Tyler Cowen has published his list of what went wrong, with which I largely concur.  Another way to think about it is as a series of cognitive errors that afflicted everyone …
RELATED:
Tyler Cowen / Marginal Revolution:
What caused the financial crisis?
Discussion: Matthew Yglesias and EconLog
Janet Albrechtsen / Wall Street Journal:
Not Everyone Should Own a Home  —  Even without Fan and Fred, American mortgage rules are unusually lax.  —  Maybe only a friendly foreigner could say this.  But America needs to realize that not everyone can own a home.  The American Dream of home ownership for all is a fraud.
Discussion: protein wisdom
Michael Crowley / The New Republic:
Lieberman: Palin Will Win “With God's Help”  —  Via CNN streaming video, I watched Sarah Palin's event in Clearwater, Florida, this morning.  She was heartily introduced there by John McCain's pal Joe Lieberman.  The former Democrat is a very strange figure these days, far from his moorings in the Democratic Party.
Rebecca Christie / Bloomberg:
U.S. Treasury's Kashkari to Lead Bank Bailout Office  —  Oct. 6 (Bloomberg) — The U.S. Treasury will name Neel Kashkari, assistant secretary at the department, to run the $700 billion Wall Street rescue program on an interim basis, according to a Treasury official.
RELATED:
Martin Crutsinger / Associated Press:   Ex-Goldman Sachs exec tapped to head bailout plan
Nic Robertson / CNN:
Sources: Taliban split with al Qaeda, seek peace  —  LONDON, England (CNN) — Taliban leaders are holding Saudi-brokered talks with the Afghan government to end the country's bloody conflict — and are severing their ties with al Qaeda, sources close to the historic discussions have told CNN.
Alan Maimon / Las Vegas Review-Journal:
Arizonans recall run-ins with McCain  —  Opinions about temper depend on who's talking  —  PHOENIX — Frustrated that a massive telescope project he backed had hit a snag in 1989, Sen. John McCain lashed out at a U.S. Forest Service supervisor, threatening his job if he failed to help get approval for the project.
Discussion: unbossed.com and Taylor Marsh
Amz / Democracy Corps:
Obama Emerges Ahead in Ohio  —  On the heels of the news that John McCain permanently suspended his campaign in economically strapped Michigan, its southern neighbor Ohio now favors Barack Obama over McCain 49 to 43 percent, a lead built on an impressive 48 to 35 percent edge among independent voters.
Discussion: Writes Like She Talks
 
 
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 More Items: 
Jim Manzi / The Corner:
Winning  —  I've written extensively about the seriousness …
Discussion: Power Line
Erick Erickson / www.redstate.com:
Penny Pritzker: Another Friend of Barry We Should Be Concerned About
Francis Fukuyama / Newsweek:
The Fall of America, Inc.
Discussion: Ross Douthat and Greg's Opinion
Ambrose Evans-Pritchard / Telegraph:
Germany takes hot seat as Europe falls into the abyss
Barbara Bradley Hagerty / NPR:
Can Falwell's University Tip Virginia To McCain?
Discussion: Weekly Standard
Ezra Klein / American Prospect:
A CAMPAIGN JOHN MCCAIN WILL REGRET.
Associated Press:
Dow plunges as much as 800 before closing down 350
 Earlier Items: 
Signorile / The Gist:
Evangelical Leader: Fundies Grumbling About Palin's Gay Remarks …
Kathryn Jean Lopez / The Corner:
COINCIDENCE?  —  Question from a reader:  —  Does the selloff …
CNN:
CNN RELIABLE SOURCES
Discussion: Crooks and Liars
Marc Ambinder:
The McCain Comeback Plan: Taxes, Crime, Associations And Real Reform
Todd Gitlin / TPMCafe:
Hannity's Witness: “Exterminate Jew Power”
Discussion: Campaign Silo
James B. Gerber / PolitickerCA:
DeLay leery of a President McCain
Paul Caron / TaxProf Blog:
Tax Profs Agree: Gov. Palin's Tax Returns Are Wrong
Mark Murray / MSNBC:
FIRST THOUGHTS: OBAMA AT 264  —  From Chuck Todd, Mark Murray …