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9:50 AM ET, November 24, 2008

memeorandum

 Top Items: 
David Ellis / CNNMoney.com:
Citi dodges bullet  —  Government will guarantee losses on more than $300 billion in troubled assets and make a fresh $20 billion injection.  —  NEW YORK (CNNMoney.com) — The U.S. federal government on Sunday announced a massive rescue package for Citigroup - the latest move to steady the banking giant …
Discussion: The Moderate Voice
RELATED:
Mark Thoma / Economist's View:
The Citigroup Bailout  —  It's bailout time.  Let's start with Paul Kedrosky: … Yves Smith: … Calculated Risk has the Joint Statement by Treasury, Federal Reserve, and the FDIC on Citigroup, while James Kwak says the bailout is “Weak, Arbitrary, Incomprehensible.”  I think he has it right:
Financial Times:
US agrees bail-out for Citigroup  —  By Greg Farrell and Henny Sender in New York and Andrew Ward in Washington  —  The US government rode to the rescue of Citigroup, entering an agreement to guarantee up to $306bn in problematic assets and inject $20bn in capital to restore confidence …
Eric Dash / New York Times:
U.S. Approves Plan to Help Citigroup Cope With Losses
Robert Schmidt / Bloomberg:
U.S. to Back $306 Billion in Citigroup Assets, Regulators Say
Discussion: naked capitalism and The Impolitic
Bradley Keoun / Bloomberg:   Citigroup Gets Government Guarantees on $306 Billion of Assets
Noam Scheiber / The New Republic:
Some Final Backstory on Geithner  —  I've tried to lay out the reasons why Obama would want Tim Geithner as his Treasury secretary.  Now that the day of the big announcement is here, I figured I'd address the “how” of it, too.  —  My sense is that two Obama transition officials …
Discussion: marbury
RELATED:
Lori Montgomery / Washington Post:
Democrats' Stimulus Plan May Reach $700 Billion  —  Spending Package Could Rival Financial System Bailout  —  Facing an increasingly ominous economic outlook, President-elect Barack Obama and other Democrats are rapidly ratcheting up plans for a massive fiscal stimulus program that could total …
William Kristol / New York Times:
Admit We Don't Know  —  “In my view it has to be between five and seven hundred billion dollars,” proclaimed Senator Charles Schumer Sunday on ABC's “This Week.”  The “it” is the economic stimulus package the new Congress intends to send to the new president, Barack Obama, in January.
Discussion: The Moderate Voice and marbury
Jaketapper / Political Punch:
Obama to Tap Berkeley Prof to Chair Council of Economic Advisers  —  From Jake Tapper and George Stephanopoulos:  —  ABC News has learned that President-elect Obama had tapped University of California -Berkeley economics professor Christina Romer to be the chair of the Council of Economic Advisers …
Discussion: Grasping Reality …
RELATED:
The Politico:
Obama skips church, heads to gym  —  President-elect Barack Obama has yet to attend church services since winning the White House earlier this month, a departure from the example of his two immediate predecessors.  —  On the three Sundays since his election, Obama has instead used his free time to get in workouts at a Chicago gym.
Carrie Johnson / Washington Post:
As President Bush's Term Comes to an End, Some Well-Known Offenders Seek Pardons  —  With a backlog of applications piled up at the Justice Department, high-profile criminals and their well-connected lawyers increasingly are appealing directly to President Bush for special consideration …
Discussion: TIME.com and Truthdig
Christopher Wood / Wall Street Journal:
The Fed Is Out of Ammunition  —  A discredited dollar is a likely outcome of the current crisis.  —  With an estimated $4 trillion in housing wealth and $9 trillion in stock-market wealth destroyed so far in the United States, there is little doubt that we are witnessing a classic debt-deflation bust …
Discussion: Betsy's Page
Howard Kurtz / Washington Post:
Media Notes: An Interview With Outgoing White House Press Secretary Dana Perino  —  The network stars were gone, the seats half empty and the questioning low-key as Dana Perino held a White House briefing last week, her biggest announcement that the administration would try to ease air traffic for the holidays.
Andrew Sullivan / The Daily Dish:
The Golden Straitjacket Of Foggy Bottom  —  My positive take on Clinton at State in the Sunday Times: … (Photo: Brendan Smialowski/Getty.)
SaneWorks.us:
CAIR Sued by Former Clients for Racketeering, Fraud, & Breach of Fiduciary Duties  —  For more information:  —  David Yerushalmi, Esq.  —  Law Offices of David Yerushalmi  —  ContactYerushalmiLaw@verizon.net  —  646.262.0500  —  Washington, DC: Four clients of the Council …
RELATED:
Baron Bodissey / Gates of Vienna:
Serving CAIR At Its Own Banquet
Discussion: Atlas Shrugs and Gateway Pundit
 
 
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 More Items: 
Washington Post:
For Obama, White House Is an Unusually Big Transition
Discussion: Stephen C. Rose
Jim Henley / Unqualified Offerings:
Dry Your Eyes, Emo Kid
Discussion: Matthew Yglesias
Jodi Kantor / New York Times:
An Old Hometown Mentor, and Still at Obama's Side
Discussion: Don Surber and The Swamp
Nick Timiraos / Wall Street Journal:
Builders Make Plea for Federal Aid
Discussion: Matthew Yglesias and TIME.com
Robert G. Kaiser / Washington Post:
Pollsters Debate America's Political Realignment
Discussion: The Heretik
 Earlier Items: 
John Hallmann / The Huffington Post:
Why America Feels Like it's Been Ruled by a Foreign Occupier
Discussion: Stop The ACLU
Con Coughlin / Telegraph:
Iran receives al Qaeda praise for role in terrorist attacks
John Amato / Crooks and Liars:
Neil Cavuto in screamathon with Ben Stein over our failed economy …
Discussion: Hullabaloo
Matt Corley / Think Progress:
Woodward: Bush 'Doesn't Like Homework,' Which Means 'Reading …
Discussion: Liberty Street