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12:30 PM ET, March 25, 2009

memeorandum

 Top Items: 
New York Times:
Dear A.I.G., I Quit!  —  The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group's financial products unit, to Edward M. Liddy, the chief executive of A.I.G.  —  DEAR Mr. Liddy,  —  It is with deep regret that I submit …
RELATED:
Mark Steyn / The Corner:
Resigned  —  This resignation letter from an AIG exec is worth reading: … I wonder if Senator Grassley (Republican, of course) is pleased that AIG honchos are now doing as instructed and falling on their swords.  As I said a few days ago, if you own even modest assets (a small house …
Discussion: RedState
Washington Post:
Transcript: President Obama's Press Conference  —  [*] OBAMA: Hello, everybody.  Please have a seat.  —  Good evening.  Now, before I take questions from the correspondents, I want to give everyone who's watching tonight an update on the steps we're taking to move this economy from recession to recovery …
RELATED:
Ron Fournier / Associated Press:
Analysis: Teleprompter telegraphs Obama caution  —  Featured Topics: - Barack Obama - Presidential Transition  —  WASHINGTON - What kind of politician brings a teleprompter to a news conference?  —  A careful one.  —  President Barack Obama took no chances in his second prime-time news conference …
New York Times:
In a Volatile Time, Obama Strikes a New Tone
Discussion: TPMCafe
Mark Preston / CNN:
Jindal defends those who want Obama to fail  —  WASHINGTON (CNN) — It's OK for Republicans to want President Obama to fail if they think he's jeopardizing the country, Louisiana Gov. Bobby Jindal told members of his political party Tuesday night.  —  Jindal described the premise of the question …
RELATED:
Alex Isenstadt / The Politico:
GOP faithful still loves Jindal  —  While President Barack Obama commanded a national prime time TV audience, Louisiana Gov. Bobby Jindal played to the GOP faithful Tuesday night, warning a Republican fund raising dinner that Obama was undertaking “the greatest expansion of government in our lifetimes.”
Discussion: The Note and First Draft
Mark Silva / The Swamp:
Jindal: Obama's failure a ‘gotcha game’
Philip Klein / AmSpecBlog:
Jindal:We Don't Want Obama to Fail, We Want America to Succeed
Discussion: Democracy in America
Quinnipiac University:
Little-Known GOP Challenger Tops Specter In Primary, Quinnipiac University Pennsylvania Poll Finds; Support For Obama Plan Helps Among Democrats  —  Apparently paying a political price for his support of President Barack Obama's Stimulus Plan, longtime Pennsylvania U.S. Sen. Arlen Specter …
RELATED:
Mark Murray / MSNBC:
FIRST THOUGHTS: THE OBAMA OCEAN-LINER  —  From Chuck Todd, Mark Murray, and Domenico Montanaro  —  *** The Obama ocean-liner: More than anything else, Obama's news conference last night resembled a campaign TV ad — one in which the serious candidate talks directly to the camera …
Jeremy P. Jacobs / The Hill's Blog Briefing Room:
Toomey smokes Specter in new poll
Discussion: The Hill
Lori Montgomery / Washington Post:
Democrats Take Knife To Obama's Budget  —  Key Democratic leaders were performing major surgery yesterday on President Obama's first budget plan in an effort to bring skyrocketing annual deficits under control, while preserving the option of enacting some of the president's most significant and costly domestic priorities.
RELATED:
The Politico:
What Obama said and what he meant  —  Hold a Washington news conference and you'll be sure to hear a lot about Washington obsessions.  —  Two big ones dominated President Barack Obama's prime-time encounter with the White House press corps: budget deficits, and growing criticism in the Congress …
Steve Benen / Washington Monthly:   DEFICITS DON'T MATTER (RIGHT NOW).... Following up on Hilzoy's …
Washington Post:
‘Global War On Terror’ Is Given New Name  —  The Obama administration appears to be backing away from the phrase “global war on terror,” a signature rhetorical legacy of its predecessor.  —  In a memo e-mailed this week to Pentagon staff members, the Defense Department's office of security review noted that …
BBC:
Obama testing pundits' patience  —  Barack Obama's second televised presidential news conference saw him in combative mood, pundits and bloggers judged after his prime-time White House performance.  —  Online reaction was dominated by the president's minor spat with a TV reporter …
Ben Smith / Ben Smith's Blog:
Geithner ‘open’ to China proposal  —  Geithner, at the Council on Foreign Relations, said the U.S. is “open” to a headline-grabbing proposal by the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar …
Carrie Johnson / Washington Post:
Obama's Approach to Protecting ‘State Secrets’ at Issue  —  Like Predecessor, New Justice Dept. Claiming Privilege  —  Civil liberties advocates are accusing the Obama administration of forsaking campaign rhetoric and adopting the same expansive arguments that his predecessor used to cloak …
Andrew Malcolm / Top of the Ticket:
Barack Obama's delivery of no news is quite smooth  —  Tuesday morning The Ticket examined the White House's current political strategy and asked the question of who would show up at Barack Obama's second nationally televised news conference that evening: the president or the senator?
Discussion: Townhall.com and Commentary
Louise Story / New York Times:
Top Hedge Fund Managers Do Well in a Down Year  —  The financial crisis may have turned much of Wall Street's wealth into dross, but a select group of hedge fund managers has managed to maintain a golden touch that might make King Midas blush.  —  As major markets and economies careened downward last year …
Discussion: The Big Picture and Clusterstock
The Huffington Post:
Obama Flexes Political Muscle, Enters NY Congressional Race  —  For the first time since his inauguration, President Barack Obama is flexing his electoral muscle, urging supporters to organize and vote for New York Democratic congressional candidate Scott Murphy.
Julia Werdigier / New York Times:
Vandals Hit Home of Ex-Chief of Bank  —  LONDON — The house of Fred Goodwin, the former chief executive of ailing Royal Bank of Scotland, was vandalized early Wednesday and windows of his car were smashed.  —  Mr. Goodwin attracted criticism for keeping his £703,000, or $1 million …
Discussion: Guardian and Global Guerrillas
Foreign Policy:
FM 3-XX: Revolutionary Operations  —  I've been looking over the Army's new manual for stability operations, which the University of Michigan just reprinted with an all-star lineup of introductions by Michele Flournoy, Shawn Brimley, and Janine Davidson.  —  I'm all for the idea.
Lucia Mutikani / Reuters:
Durable goods orders rebound in February  —  WASHINGTON (Reuters) - New U.S. orders for long-lasting manufactured goods rose in February for the first time in seven months, according to a government report on Wednesday brought some cheer to an economy mired in recession.
Kim-Mai Cutler / Bloomberg:
U.K. Bond Auction Fails for First Time Since 2002  —  The U.K. failed to find enough buyers for 1.75 billion pounds ($2.55 billion) of bonds for the first time in almost seven years as debt investors repudiated Prime Minister Gordon Brown's plan to stem the worst economic crisis in three decades.
Discussion: Fausta's Blog
Myglesias / Matthew Yglesias:
Sacrifice  —  Apparently Chuck Todd asked President Obama why he isn't asking people to “sacrifice” more amidst the recession.  —  The standard progressive answer to this starts by observing that the hundreds of thousands of people who are losing their jobs each week are, presumably, sacrificing.
George Packer In / New Yorker:
POPULISM AND PARANOIA  —  Step out of the A.I.G. bonus frenzy, the bailout conundrum, and other matters of the moment to think a bit about American history.  It's all related.  —  Last year, Vintage reissued Richard Hofstadter's classic 1965 essay collection “The Paranoid Style in American Politics.”
Discussion: pw, The Corner and The Daily Dish
New York Times:
E.U. President Calls U.S. Stimulus the ‘Way to Hell’  —  BRUSSELS — Transatlantic tension over the handling of the global economic crisis intensified on Wednesday when the prime minister of the Czech Republic, which holds the European Union presidency, described the U. S. stimulus measures as the “way to hell.”
New York Times:
President Obama's News Conference  —  Following is a complete of President Obama's prime-time press conference on March 24, as transcribed by Federal News Service.  —  PRESIDENT OBAMA: Hello, everybody.  Please have a seat.  —  Good evening.  Now, before I take questions from the correspondents …
Greg Burke / Fox News:
Politicians Fret as Muslim Population Swells in Europe Amid Little Integration  —  BRUSSELS, Belgium — A clash of civilizations may be taking place on the battlefields of Iraq and Afghanistan, but it's also happening a lot more quietly in European cities.  —  Old Europe's population …
Discussion: Atlas Shrugs
William Kristol / PostPartisan:
Obama Persists on Iran  —  The most interesting moment, I thought, in President Obama's press conference was his last answer, when he spoke in praise of “persistence:” “That whole philosophy of persistence, by the way, is one that I'm going to be emphasizing again and again in the months and years to come …
 
 
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 More Items: 
Erik Holm / Bloomberg:
AIG Plane Unit Says Survival in Doubt Without Funds
Discussion: naked capitalism and Clusterstock
NY Daily News:
Cops may be closing in on Weber kill suspect
Discussion: New York Post
Paul Begala / CNN:
Begala: GOP means ‘Got 0 Plans’
David Leonhardt / New York Times:
The Start of a Crisis, Through the Lens of Avis
Discussion: Swampland
Martin Feldstein / Washington Post:
An Anti-Charity Tax, at the Worst Time
Discussion: Commentary and Reason
Guardian:
Warm words, dud deeds
Discussion: Harry's Place and Media Blog
Ed Morrissey / Hot Air:
Apocalypse alert: Barney Frank tells Code Pink to “grow up”
Discussion: Moe Lane
Hernando De Soto / Wall Street Journal:
Toxic Assets Were Hidden Assets
Discussion: EconLog
 Earlier Items: 
Michael Birnbaum / Washington Post:
Book Dealers Told to Get The Lead Out
Martin Wolf / Financial Times:
Successful bank rescue still far away
Discussion: The New Republic
Michael Barone:
The Geithner Paradox: Unregulated Institutions Bailing Out Regulated Ones
Ezra Klein / American Prospect:
IT'S LIKE THIS BLOG FELL ASLEEP AND IS HAVING A NIGHTMARE.