The Dow has now dropped below 10,000 for the first time since 2004. Last week, when I was trying to convince members to vote against the bailout, I had a conversation and the question was posed 'well what would you tell a small business owner who can't get a loan?' I said that the bailout probably wouldn't help them, not for any economic reason but because it seemed obvious that the people planning the bailout don't actually care about a random small business somewhere. Then last night, a few economists told me that a credit tightening is normal right before or during the initial stages of a recession as banks become more conservative. So what I said was correct on the economics. It's not a difficult concept, but what's interesting is how the press conflated the credit tightening prior to a recession with a run on hedge funds and investment banks. Anyway, there you go.
The Palin-Biden debate attracted nearly 70 million viewers, far more than the Obama-McCain debate. Here's Palin in 30 seconds.
She's being mentioned as a 2012 contender. I doubt it, she'll be impeached in Alaska first. Astroturf group Team Sarah has launched.
The US Chamber of Commerce and the NFIB are going to put $400,000 against Darcy Burner, and the NRCC is already outspending the DCCC in that district.
Palin's in Omaha, fighting for that one electoral vote carved out by Nebraska's unique electoral system.
Ari Berman has a good piece on Rick Davis's lobbying ties to Russia. At what point does this become an issue of overt disloyalty to the American public?
Gordon Smith and Jeff Merkley are going at it. Smith is attacking Merkley for running up the debt after Smith himself just voted for $700 billion.
Republicans are whining they can't suppress the vote and intimidate in Ohio.
There are plenty of bloggers who unthinkingly endorse Klein's work. That is a stain both on their critical thinking skills, and their reputations for honesty as pundits.
The Democratic and Republican Strategist Assocation is going to begin license renewals soon.
Campaign Money Watch broke out the Keating last week.
Hillary Clinton has raised $8M for Obama. That's a lot of money.
Joe Lieberman on Palin: "She's so strong, she's so capable, she's so competent," Lieberman told the cheering crowd. Emphasizing her "faith," he added that she is someone who "with your help--and God's help--will be the next vice president of the United States." More big cheers.
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