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Daily Flog: Holy hell on Wall Street; crap-out on Capitol Hill


Running down the press:

Formal atonement ceremonies are scheduled for next week but for now the joyous shout is “Next year on Wall Street!”

The ADL’s Abe Foxman, who finds anti-Semitism under every rock, is sure to unleash angry e-mails about this topic, but facts are facts, and Salon’s Andrew Leonard points them out early today in his How the World Works column, “Black bailout Monday”:

As we survey the wreckage left in the wake of the failed attempt to pass the Emergency Economic Stabilization Act of 2008 on Monday, there is some good news. The advent of the Jewish New Year, Rosh Hashanah, usually results in light trading on Wall Street. So Tuesday and Wednesday might not witness the kind of calamitous selling that swept the U.S. stock market on Monday, sending the S&P 500 to its worst day since Oct 17, 1987.

So if the Dow plummets again today, don’t blame my people.

If you’re not in shul, catch up on your reading…


Wall Street Journal: ‘How Voter Fury Stopped Bailout: Left-Right Combo By Opponents Put Plan on the Ropes’

McClatchy: ‘Healthy banks smell money in the water’

Salon: ‘Black bailout Monday’

Docuticker: ‘New Report on Illicit Nuclear Trafficking’ (International Atomic Energy Agency)

Slate: ‘Nancy Pelosi’s $700 Billion Speech’

Wall Street Journal: ‘ “No” Votes Came From All Directions’

Docuticker: ‘Employer Health Benefits 2008 Annual Survey’ (Kaiser Family Foundation)

Wall Street Journal: ‘No Celebration for Lobbyists’

N.Y. Daily News: ‘Police Commissioner Kelly admits “mistake” in Taser tragedy’

Salon: ‘Remember Iraq?’



Salon: ‘The Sarah Palin pity party’

N.Y. Daily News: ‘Would cost NYC Transit $100M to shine subways’

BBC: ‘Petraeus warns on Pakistan threat’

Dawn (Pakistan): ‘US cites laws, UN Charter to justify Fata raids’

Wall Street Journal: ‘Stocks Rebound Sharply On Hope for New Rescue Plan’

BBC: ‘Citigroup to buy US bank Wachovia’

Jurist: ‘Mukasey names prosecutor to investigate DOJ firings’

McClatchy: ‘Bailout vote underscores America’s leadership crisis’

N.Y. Times: ‘In Bailout Vote, a Leadership Breakdown’

N.Y. Times: ‘ “Is My Money Safe?” and Other Questions to Ask’

Wall Street Journal: ‘The Depression of 2008? Don’t Count on It’

The Onion: ‘McCain’s Economic Plan For Nation: “Everyone Marry A Beer Heiress”‘ (video)

N.Y. Times: ‘Olmert Says Israel Should Pull Out of West Bank’

Salon: ‘Is the credit crunch just an accounting issue?’

N.Y. Times: ‘Losing Money, New York Sun Is to Shut Down After 6 Years’

N.Y. Times: ‘Violations Reported at 94 Percent of Nursing Homes’

BBC: ‘Scores die in India temple crush’

MarketWatch: ‘Web Firms Quietly Win Copyright Victory In Congress’

McClatchy: ‘Sacramento banker accused of embezzlement lobbies for bailout’

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