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8:10 PM ET, May 6, 2010

memeorandum

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Wall Street Journal:
Dow Takes a Harrowing 1,010.14-Point Trip  —  Biggest Point Fall, Before a Snapback; A Data Jumble  —  Traders work on the floor of the New York Stock Exchange May 6.  —  A bad day in the financial markets was made worse by an apparent trading glitch, leaving traders and investors nervous …
Megan McArdle / The Atlantic Online:
What the Hell Just Happened in the Market?
Discussion: Business Week and New Atlanticist
Christine Hauser / New York Times:
Markets Plunge, Then Stage a Rebound
BBC:
Tories ‘just short of majority’  —  David Cameron will fall 21 seats short of a Commons majority, according to a BBC/Sky/ITV general election exit poll.  —  The Conservatives would have 305 MPs, up 95 on 2005, Labour would have 255, down 94, and the Lib Dems 61, down 1.  Nationalists and others would have 29.
RELATED:
Andrew Sparrow / Guardian:
General election 2010: results - live!  —  • Exit poll shows Con 305, Lab 255, LD 61  —  • Labour wins first three results, all in Sunderland  —  • Tories say Brown will have no right to form government if exit poll accurate  —  • Labour making coalition overtures to Lib Dems
Anthony Wells / UK Polling Report:
About tonight's exit poll
George Kiriyama / NBC Bay Area:
Students Kicked Off Campus for Wearing American Flag Tees  —  Freedom of expression or cultural disrespect on Cinco de Mayo?  —  TWITTER  —  On any other day at Live Oak High School in Morgan Hill, Daniel Galli and his four friends would not even be noticed for wearing T-shirts with the American flag.
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Zombie / Pajamas Media:
Students punished for wearing American flags on Cinco de Mayo  —  Five students at a California high school were forced to leave school and then face disciplinary action yesterday for the crime of wearing clothing printed with American flag designs.  —  If you're wondering how being patriotic …
Sarah Palin / Facebook:
Let's shake it up in California!  —  I'd like to tell you about a Commonsense Conservative running for office in California this year.  She grew up in a modest home with a school teacher dad, worked her way through several colleges, and then entered an arena where few women had tread.
RELATED:
Shawn Tully / Fortune:
Documents reveal AT&T, Verizon, others, thought about dropping employer-sponsored benefits  —  (Fortune) — The great mystery surrounding the historic health care bill is how the corporations that provide coverage for most Americans — coverage they know and prize — will react …
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CNNMoney.com:
Health care law's massive, hidden tax change
Miami New / Riptide 2.0:
George Rekers Is a Homosexual, Escort Says  —  Rekers allegedly named his favorite maneuver the “long stroke” — a complicated caress “across his penis, thigh... and his anus over the butt cheeks,” as the escort puts it.  “Rekers liked to be rubbed down there,” he says.
Andrew Romano / Newsweek Blogs:
Why the Media Ignored the Nashville Flood  —  As you may have heard, torrential downpours in the southeast flooded the Tennessee capital of Nashville over the weekend, lifting the Cumberland River 13 feet above flood stage, causing an estimated $1 billion in damage, and killing more than 30 people.
RELATED:
Michael O'Brien / The Hill:
Dems come out swinging against GOP consumer protection measure  —  Democrats came out swinging Thursday against a Republican proposal to change consumer protection rules in the new Wall Street reform bill.  —  President Barack Obama and Democrats in Congress loudly criticized an amendment …
Discussion: The Politico and CNN
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Ezra Klein:
Dick Durbin: Let my nominees go!
Discussion: The Hill
Brady Dennis / Washington Post:   Senate Democrats block GOP measure to limit financial reform
Gail Collins / New York Times:
Congress, Up In Arms  —  There seems to be a strong sentiment in Congress that the only constitutional right suspected terrorists have is the right to bear arms.  —  “I think you're going too far here,” said Senator Lindsey Graham of South Carolina at a hearing of the Senate Homeland Security Committee on Wednesday.
RELATED:
New York Times:
Shahzad's Friends Describe a Growing Seriousness  —  Theirs was an arranged marriage: two well-educated children of prominent Pakistani families set up through a mutual friend.  He was the quiet one; she was the one who laughed at parties.  —  The couple in this Web photo are identified as Faisal Shahzad and Huma Mian.
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Adam Serwer / American Prospect:
They're Calling It the “TEA” Act.  —  Legal experts, including former State Department Legal Adviser John Bellinger, have already slammed Sen. Joe Lieberman's proposal to strip citizenship from American citizens accused of being involved with a foreign terrorist organization.
RELATED:
Russell Berman / The Hill:
Pelosi: ‘Be very careful’ about Lieberman, Brown terror citizen bill
Discussion: The Politico and CNN
Jason Mattera / Human Events:
Exclusive: Rubio Clarifies Critique of Arizona Law  —  Florida GOP Senate candidate Marco Rubio got himself into hot water with conservatives when he argued that Arizona's new illegal immigration law went “too far” and could possibly turn Arizona into a “police state.”
RELATED:
Fox News:
Schumer Asks Arizona to Delay Immigration Law for a Year
Discussion: The Hill and The Page
Alex Isenstadt / The Politico:
DCCC to ‘re-evaluate’ Hawaii special  —  The Democratic Congressional Campaign Committee is re-evaluating whether to continue to spend money in this month's Hawaii special election, Chairman Chris Van Hollen told POLITICO Thursday.  —  With former Democratic Rep. Ed Case …
Discussion: Swing State Project and Moe Lane
Beth Reinhard / MiamiHerald.com:
Poll: Charlie Crist holds lead in U.S. Senate race — for now  —  Gov. Charlie Crist holds an early lead as an independent candidate in the U.S. Senate race, but his edge is a “proverbial house of cards,” according to a new poll, because support from Democratic and black voters is unlikely to hold up through the Nov. 2 election.
The ChamberPost:
Truth is the First Casualty of Kos  —  Last Friday Markos Moulitsas, the Kos in DailyKos, put up a fundraising post titled “AR-Sen: Hell to Pay: Chamber-backed group runs racist ad against Bill Halter.”  After displaying the ad the bulk of the post starts with “The group running this ad is funded by the U.S. Chamber of Commerce...”
Discussion: Moe Lane and Ben Smith's Blog
The Politico:
Rove, GOP plot vast network to reclaim power  —  The Republican Party's best-connected political operatives have quietly built a massive fundraising, organizing and advertising machine based on the model assembled by Democrats early in the decade, and with the same ambitious goal — to recapture Congress and the White House.
The Live Feed | THR:
Comedy Central developing Jesus Christ cartoon  —  Comedy Central might censor every image of the Prophet Muhammad on “South Park,” yet the network is developing a whole animated series around Jesus Christ.  —  As part of the network's upfront presentation to advertisers (full slate here) …
Fox News:
Navy SEAL Found Not Guilty of Assaulting a Suspected Terroristyeah,  —  Military jury found a Navy SEAL not guilty on charges of punching a suspected Iraqi terrorist.
David Catanese / The Politico:
Dem chair: Sestak win ‘cataclysmic’  —  The chairman of the Pennsylvania Democratic Party issued a severe warning to members of his party this week, declaring that nominating Rep. Joe Sestak over Sen. Arlen Specter could have “cataclysmic” consequences for the Senate campaign this fall.
Associated Press:
“Cash for Caulkers” Bill Passes House  —  $6 Billion Bill Mandates Rebates for Renovating Homes to Save Energy; Still Needs Senate Approval  —  (AP) Homeowners could collect thousands of dollars in Cash for Caulkers rebates for renovating their homes with better insulation and energy-saving windows …
Discussion: The Hill and CNN
 
 
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 More Items: 
Paul / Power Line:
The stealth law professor
Kevin D. Williamson / The Corner on National …:
Eric Cantor: Not Jewish Enough for Matt Yglesias — By: Kevin D. Williamson
Discussion: Matthew Yglesias and Right Now
PZ Myers / Pharyngula:
Whatever happened to “first, do no harm”?
Jim Geraghty / National Review:
Ranking Those 99 House Races By Degree of Difficulty for GOP Challengers
Discussion: Newsbroke
 Earlier Items: 
Carol Morello / Washington Post:
More children are being born to women over 35 than to teens, Pew study finds
David Gelernter / Weekly Standard:
See No Evil  —  Daniel Pipes is one of several commentators …
Discussion: National Review
Spencer Ackerman / The Washington Independent:
Khadr Was Told a ‘Fictitious Story’ About a Young Afghan Being Raped and Killed
Discussion: Balloon Juice and Emptywheel
Maura Johnston / The Awl:
Long Island Newspaper Gets Only The “Sexist And Racist” …
David Weigel / Right Now:
A people's history of ‘teabag’