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10:00 AM ET, December 12, 2008

memeorandum

 Top Items: 
Associated Press:
$14B auto bailout dies in Senate  —  WASHINGTON - A bailout-weary Congress killed a $14 billion package to aid struggling U.S. automakers Thursday night after a partisan dispute over union wage cuts derailed a last-ditch effort to revive the emergency aid before year's end.
RELATED:
Wall Street Journal:
Rescue Bid for Detroit Collapses in Senate  —  WASHINGTON — A frantic, last-ditch attempt to forge a relief package for the auto industry collapsed in the U.S. Senate, dealing a giant blow to the immediate hopes of the Big Three.  —  Senate Majority Leader Harry Reid of Nevada suggested …
Pan Pylas / Associated Press:
World markets plunge as US auto bailout fails  —  LONDON - World stock markets plunged Friday as the U.S. Senate's rejection of a $14 billion deal to rescue Detroit's ailing automakers stoked concerns that the recession in the world's largest economy will be even longer and deeper than projected.
Discussion: The RBC
Steve Benen / Washington Monthly:
‘THE PARTY OF HERBERT HOOVER’.... On Wednesday, Dick Cheney met with Senate Republicans and emphasized the importance of keeping the American automotive industry afloat.  “If we don't do this, we will be known as the party of Herbert Hoover forever,” the vice president said.
Jim Puzzanghera / Los Angeles Times:
Senate Republicans kill auto bailout bill
CNN:
Auto bailout bill dies in Senate
Discussion: the talking dog
Sarah Binder / The Monkey Cage:   Car Talk  —  Gentlemen [sic], start your engines!
The Politico:
Obama damage control  —  He was elected president on a promise of “transparency” but barely five weeks later, Barack Obama is scrambling to meet his first big test on openness.  —  Obama's campaign lawyer Bob Bauer is taking a leading role in conducting what one top aide described as …
RELATED:
Chicago Sun Times:
Obama chief of staff Rahm Emanuel ducks reporters' questions  —  President-elect Barack Obama's chief of staff, Rahm Emanuel, refused to take questions from reporters this morning about whether he was the Obama “advisor” named in the criminal complaint against Gov. Rod Blagojevich.
Eli Saslow / Washington Post:
Obama Worked to Distance Self From Blagojevich Early On  —  Like every other politician in Illinois, Gov. Rod Blagojevich waited for Barack Obama's call this summer.  He told colleagues that he expected a speaking role at the 2008 Democratic National Convention, a nice bit of payback …
New York Times:
Obama to Air Any Staff Talks About Senate Seat
Katharine Q. Seelye / The Caucus:
The Obama Press Conference
Discussion: Althouse, NY Daily News and Spin Cycle
New York Times:
Prominent Trader Accused of Defrauding Clients  —  On Wall Street, his name is legendary.  With money he had made as a lifeguard on the beaches of Long Island, he built a trading powerhouse that had prospered for more than four decades.  At age 70, he had become an influential spokesman …
RELATED:
Reuters:
Former Nasdaq chair arrested over alleged £33 billion fraud  —  NEW YORK (Reuters) - Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion (33 billion pounds) “Ponzi scheme” in what may rank among the biggest fraud cases ever.
Discussion: Donklephant and Silent Running
Bloomberg:
Madoff Charged in $50 Billion Fraud at Advisory Firm  —  A A A  —  Dec. 11 (Bloomberg) — Bernard Madoff, founder and president of a New York firm that invested funds for wealthy individuals, hedge funds and other institutions, was charged with operating what he told employees …
Discussion: Mercury Rising
Wall Street Journal:
Top Broker Accused of $50 Billion Fraud  —  Sons Turned In Madoff After He Allegedly Told Them His Investment-Advisory Business for the Wealthy Was ‘Giant Ponzi Scheme’  —  Bernard L. Madoff, a former chairman of the Nasdaq Stock Market and a force in Wall Street trading for nearly 50 years …
Chicago Tribune:
Blagojevich fundraiser held by Jackson allies Saturday  —  As Gov. Rod Blagojevich was trying to pick Illinois' next U.S. senator, businessmen with ties to both the governor and U.S. Rep. Jesse Jackson Jr. discussed raising at least $1 million for Blagojevich's campaign as a way to encourage …
RELATED:
Chicago Sun Times:
What's next for Jesse Jackson Jr.?
Discussion: TIME.com and On Deadline
Charles Krauthammer / Washington Post:
The Real Obama  —  Barack Obama has garnered praise from center to right — and has highly irritated the left — with the centrism of his major appointments.  Because Obama's own beliefs remain largely opaque, his appointments have led to the conclusion that he intends to govern from the center.
Discussion: Swampland, Soccer Dad and Betsy's Page
Ben Smith / Ben Smith's Blogs:
McCain pollster: Wright wouldn't have worked  —  John McCain's top pollster, Bill McInturff, said this evening that attacking Barack Obama over his relationship with Rev. Jeremiah Wright would not have helped McCain's campaign and could have destroyed his presidency, had he been elected.
Discussion: Donklephant and marbury
RELATED:
Adam Nagourney / The Caucus:
From Obama Camp, a What If?  —  CAMBRIDGE, Mass. …
Discussion: TIME.com
CNN:
Powell: GOP ‘polarization’ backfired in election  —  (CNN) — The Republican party must stop “shouting at the world” and start listening to minority groups if it is to win elections in the 21st century, former Secretary of State Colin Powell said Thursday.  —  In an interview with CNN's Fareed Zakaria …
New York Times:
Report Blames Rumsfeld for Detainee Abuses  —  WASHINGTON — A report released Thursday by leaders of the Senate Armed Services Committee said top Bush administration officials, including Donald H. Rumsfeld, the former defense secretary, bore major responsibility for the abuses committed …
RELATED:
Los Angeles Times:
Rumsfeld blamed in detainee abuse scandals
 
 
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 More Items: 
Mary Beth Sheridan / Washington Post:
Inaugural Rules Bar Overnight Camping
Chicago Tribune:
Sam Zell's financial adviser at Tribune Co. was middleman sought by Blagojevich
The Australian:
Print paupers could use bailout
Discussion: Commentary
Jonathan Stempel / Reuters:
Jim Rogers calls most big U.S. banks “bankrupt”
Discussion: Vox Popoli
 Earlier Items: 
BBC:
UK says Merkel backs fiscal boost
Discussion: The RBC and Biased BBC
Tom Coghlan / Times of London:
Taleban tax: allied supply convoys pay their enemies for safe passage
Discussion: Don Surber and FP Passport
Tom Lasseter / McClatchy Washington Bureau:
U.S. keeps silent as Afghan ally removes war crime evidence
Discussion: Taylor Marsh
Elizabeth Kolbert In / New Yorker:
NOTE TO DETROIT: CONSIDER THE REFRIGERATOR
Discussion: Kevin Drum