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8:40 AM ET, March 26, 2009

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Jim Newell / Wonkette:
Exclusive: Cantor, ‘Democrats’ Attend Britney Spears Concert During Obama Presser  —  And you all thought Washington wasn't sexy: the office of ambitious young House Republican Whip Eric Cantor has confirmed to your Wonkette that instead of watching President Obama's boring press conference …
Discussion: The Reaction, TPMDC and BeltwayBlips
Jeffrey Sachs / Financial Times:
Obama's bank plan could rob the taxpayer  —  The Geithner-Summers plan, officially called the public/private investment programme, is a thinly veiled attempt to transfer up to hundreds of billions of dollars of US taxpayer funds to the commercial banks, by buying toxic assets from the banks at far above their market value.
RELATED:
NY Daily News:   Give credit to Timothy Geithner's new toxic asset plan
Felix Salmon / Portfolio:
Is the Geithner Plan the Least-Worst Option?
Discussion: The Daily Dish and Free exchange
Washington Post:
Geithner to Propose Vast Expansion Of U.S. Oversight of Financial System  —  Treasury Secretary Timothy F. Geithner plans to propose today a sweeping expansion of federal authority over the financial system, breaking from an era in which the government stood back from financial markets …
Discussion: The Market Ticker and TIME.com
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New York Times:
Geithner to Outline Major Overhaul of Finance Rules  —  WASHINGTON — The Obama administration will detail on Thursday a wide-ranging plan to overhaul financial regulation by subjecting hedge funds and traders of exotic financial instruments, now among the biggest and most freewheeling players on Wall Street …
Discussion: TIME.com and Wall Street Journal
Peter Hamby / CNN:
Palin unplugged in speech to Alaska GOP dinner  —  (CNN) - Sarah Palin is teeing off on the media once again.  —  In a little-noticed speech to a GOP dinner in Alaska last week, Palin riffed for nearly an hour on a variety of topics — including her relationship with former McCain staffers …
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Ben Smith / Ben Smith's Blog:   Palin in Anchorage  —  Peter Hamby picks up a candid Sarah Palin speech …
Wall Street Journal:
China and the Dollar  —  Markets don't like Treasury talking down the dollar's status.  —  As if the dollar didn't have enough problems, Timothy Geithner took China's bait yesterday and said he was “quite open” to its suggestion this week to displace the greenback with an “international reserve currency.”
Discussion: Scared Monkeys and Bloomberg
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Ambrose Evans-Pritchard / Telegraph:
US backing for world currency stuns markets
Jim Tankersley / The Swamp:
Another Obama nominee withdraws  —  Chalk up another casualty in the Obama administration's attempts to staff federal agencies.  —  Jon Cannon, nominated to be the deputy director of the Environmental Protection Agency, pulled his name from consideration today, citing questions over a non-profit …
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Craig Whitlock / Washington Post:
E.U. President Blasts U.S. Spending  —  Czech Premier Calls Obama Administration's Economic Policies ‘a Road to Hell’  —  The president of the European Union on Wednesday ripped the Obama administration's economic policies, calling its deficit spending and bank bailouts “a road to hell.”
Discussion: Truthdig and Talking Points Memo
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Sam Youngman / The Hill:
White House announces tax reform task force  —  The Obama administration announced Wednesday that it is creating a task force to examine ways to simplify the tax code, close tax loopholes, lessen tax evasion and reduce corporate welfare.  —  The task force will be part of former Federal …
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David Rogers / The Politico:
Budget battle rife with contradictions
Ed Henry / CNN:
Ed Henry's take on exchange with Obama  —  Ed Henry, CNN's senior White House correspondent, got a tough answer from President Obama when he asked Tuesday night why Obama waited days to express outrage on the AIG bonuses.  “Because I like to know what I'm talking about before I speak,” Obama said.
Eric Kleefeld / TPMDC:
Steele On Rush Flap: “It's All Strategic”  —  Michael Steele just doesn't know how to stop.  —  Steele appeared on CNN this afternoon, and was asked by host Don Lemon whether he's ever considered running for president, and right off the bat he managed to give the sensible, correct answer …
Discussion: Washington Monthly and MyDD
Nicholas Dawidoff / New York Times:
The Civil Heretic  —  FOR MORE THAN HALF A CENTURY the eminent physicist Freeman Dyson has quietly resided in Prince­ton, N.J., on the wooded former farmland that is home to his employer, the Institute for Advanced Study, this country's most rarefied community of scholars.
Jesse McKinley / New York Times:
Cities Deal With a Surge in Shanty Towns  —  FRESNO, Calif. — As the operations manager of a outreach center for the homeless here, Paul Stack is used to seeing people down on their luck.  What he had never seen before was people living in tents and lean-tos on the railroad lot across from the center.
Roger Cohen / New York Times:
The Fierce Urgency of Peace  —  Pressure on President Obama to recast the failed American approach to Israel-Palestine is building from former senior officials whose counsel he respects.  —  Following up on a letter dated Nov. 6, 2008, that was handed to Obama late last year by Paul Volcker …
Discussion: Mideast Peace Pulse and TPMCafe
David Freddoso / The Corner:
House Republicans' Housing Plan  —  They unveiled it this morning here on the Hill.  Here are what I find to be the most interesting provisions — and frankly, I can't see any reason why Obama couldn't adopt some or all of them.  — A $5,000 tax credit for people who refinance their homes.
RELATED:
Myglesias / Matthew Yglesias:
Homeownership Subsidy Debate at NRO
Wall Street Journal:
AIG Fights a Fire at Its Paris Unit  —  Executives' Resignations Put Billions in Contracts at Risk of Default  —  Amid the flap over bonuses at American International Group Inc. two of the company's top managers in Paris have resigned.  Their moves have left the giant insurer …
Discussion: Clusterstock and Megan McArdle
Mark DeCambre / New York Post:
DOUBLE-DIPPERS  —  CITI, BOFA BUYING BACK LAUNDERED LOANS AT LOWER RATES  —  As Treasury Secretary Tim Geithner orchestrated a plan to help the nation's largest banks purge themselves of toxic mortgage assets, Citigroup and Bank of America have been aggressively scooping up those same securities …
Wall Street Journal:
Auto Task Force to Back More Loans, With Strings  —  President Barack Obama last month handed his auto-industry team a seemingly impossible task: to engineer the most complicated industrial restructuring ever attempted by the federal government, and to do it fast.
Discussion: TIME.com
Mike / Rortybomb:
Modeling an FDIC Robbery.  —  I want to explain the Geithner Put for those without a finance background who want to understand how FDIC is going to get looted.  (Warning: Will contain graphs, and be long and boring even by normal standards here.)  Recap: Banks have “toxic waste” assets, which they want to sell.
Conor Clarke / The Atlantic Business Channel:
The war on charity and prosperity, part III  —  Marty Feldstein attacks on the president's proposal to reduce the rate at which high-income taxpayers can deduct charitable donations: … Let me try to awaken his imagination.  —  Here is the rationale: The deduction is deeply regressive.
FactCheck.org:
Obama's Prime Time Pitch  —  Some exaggerations and misstatements from his evening news conference.  —  President Obama sometimes strayed from the facts or made dubious claims during his hour-long evening news conference March 24.  — He said his budget projections are based on economic assumptions that …
Bloomberg:
Treasuries Fall on Supply Concern as Seven-Year Sale Looms  —  Treasury 10-year note yields rose the most in more than two weeks after an auction of $34 billion in five-year notes drew a higher-than-forecast yield, spurring concern record sales of U.S. debt are overwhelming demand.
 
 
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 More Items: 
Mark Preston / CNN:
Obama's political arm buys TV time to pressure Congress
Calvin Woodward / Associated Press:
Bold claims of stimulus jobs can't be measured
Discussion: Betsy's Page
Dan Balz / Washington Post:
Will Slow and Steady Win the Race?
Discussion: The New Republic and marbury
Jeremy Page / Times of London:
British-run orphanage in Bangladesh ‘is Islamist training camp’
Discussion: Guardian and Riehl World View
Jeremy W. Peters / New York Times:
Albany Reaches Deal to Repeal '70s-Era Drug Laws
Discussion: TalkLeft and Runnin' Scared
 Earlier Items: 
Abby Goodnough / New York Times:
Gay Marriage in Vermont Faces Veto by Governor
Discussion: The Moderate Voice
Thom Shanker / New York Times:
U.S. Sees Chinese Military Rise, and a Need for More Contact
Mike Mount / CNN:
Air Force jet crashes; pilot dies