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MARTIN KADY II: Another rescue?Another rescue?We’re not going to call it TGIF this morning in The Huddle, as G7 finance leaders meet in Washington to address the spreading global financial crisis, the Asian and European markets are getting crushed and congressional leaders are considering yet another stimulus that could cost $150 billion. It’s also a black Friday for Republican fundraisers reading The Wall Street Journal this morning, finding out that they are getting absolutely crushed in congressional money race.WHILE YOU WERE SLEEPING: The entire world’s markets plummeted again, with the Nikkei falling 10 percent, European stocks fell and trading was halted in Russia, Iceland, ...
John Bresnahan: Judge allows DOJ to call key witness, softens proposed jury instructionsJudge allows DOJ to call key witness, softens proposed jury instructionsJudge Emmet Sullivan, who is presiding over the corruption trial of Sen. Ted Stevens (R-Alaska), allowed federal prosecutors to call Dave Anderson, a key witness against the senator.Anderson oversaw renovation work at Stevens' home in Girdwood, Alaska, allegedly paid for by Veco Corp., an Alaska oil services company. The Justice Department has indicted Stevens on charges that he accepted more than $250,000 in improper gifts from Bill Allen, former CEO of Veco, and others. Stevens allegedly did not report the gifts on his annual financial disclosure forms.Anderson has not testified ...
POLITICO STAFF: Obama opposes McCain home planObama opposes McCain home planAfter Tuesday’s debate, the Obama campaign e-mailed a statement accusing Sen. John McCain (R-Ariz.) of stealing the idea for his homeowner bailout from Sen. Barack Obama (D-Ill.).The statement, “John McCain Lies Tonight,” began: “McCain today said he had a new plan to allow the Treasury to purchase and restructure mortgages. The truth is that this is not a new proposal and is already part of the rescue plan that was signed into law. It was Obama, not McCain who called for this move two weeks ago.”On Wednesday afternoon, the Obama campaign's economic policy director, Jason Furman, ...
JOHN F. HARRIS & JIM VANDEHEI: The worst debate everThe worst debate everWith the country at one of its most interesting — not to mention terrifying — moments in a generation, John McCain and Barack Obama met in Nashville for what was surely one of the dullest and least satisfying presidential debates in memory. There have been boring debates before, of course. Truth be told, probably only a fraction of these encounters, over the 32 years since general election debates became a fixture of presidential campaigns, actually delivered on their promise of great political drama. And even interesting debates are inevitably somewhat stilted affairs, as candidates cleave to their ...
MARTIN KADY II: No turning the page yetNo turning the page yetGood Tuesday morning and welcome to The Huddle, where we’re definitely not ready to turn the page on the financial crisis, not with Barney Frank playing the race card on the bailout, Hill Republicans angry about Henry Waxman’s “partisan” investigation into Wall Street and the looming possibility that Congress might come back for another round of battles over the economy.In the pre-dawn darkness this autumn morning, Washington is looking at indicators like the Asian markets, where Hong Kong’s Hang Seng market was down 5 percent and the Nikkei was down 4 percent in Tuesday trading.The Wall ...
JOHN F. HARRIS & JIM VANDEHEI: Race drives strategy, stirs uncertaintyRace drives strategy, stirs uncertaintyJournalists by instinct tend to hedge their bets, so most don’t say in public what they really think. But our conversations with colleagues make clear what many think about the great race between Barack Obama and John McCain: This election is just about over, and Obama is just about to be president.There’s a big difference, of course, between just about over and stick-a-fork-in-it over. A lot could happen, after all, in the 29 days before Nov. 4.And that leads to something else that a lot of political reporters — and a lot of political operatives and ...
JEFFREY RESSNER: Ayers script hopes to gain from ObamaAyers script hopes to gain from ObamaA new script about the life of former Weather Underground leader William Ayers is making the rounds in Hollywood, and the co-screenwriter hopes that the recent hubbub surrounding Barack Obama's ties to the Sixties radical will "at least get people interested" in it.Director John Hancock finished writing the screenplay titled "Fugitive Days" over the summer with longtime partner Dorothy Tristan, and his agent has just begun sending it to producers and production companies. Adapted from Ayers' 2001 memoir of the same name, the script has received "nibbles but no bites," said Hancock, who is ...
USATODAY NEWS: Presidential candidates on IraqPresidential candidates on IraqBarack Obama on IraqOn going to warDemocrat Barack Obama was an Illinois state senator in 2002 when Congress voted to give President Bush the authority to use military force against Iraq. “I don’t oppose all wars. “What I am opposed to is a dumb war,” Obama said at the time. He predicted that even a successful war in Iraq would require “a U.S. occupation of undetermined length, at an undetermined cost, with undetermined consequences,” and “fan the flames of the Middle East.”On Bush's troop increaseObama, a member of the Senate Foreign Relations Committee, was opposed to Bush’s ...
TODD VENEZIA: IS JOE HIDIN' FACIAL WORK?IS JOE HIDIN' FACIAL WORK?Has Joe Biden had some work done?A top Manhattan plastic surgeon thinks so, after comparing some shots from Thursday night's debate with earlier photos of the Delaware senator."Yes, absolutely, and I would bet my next paycheck on this assessment," said Dr. Oleh Slupchynskyj, of the Aesthetic Institute.After being shown the shots by The Post, the doctor concluded that most of the work was around Biden's eyes."It appears that he had some sort 'Lateral Brow/Eyelid Lift,' " he told The Post."Whether it be a string lift or a formal surgical lift, [it's] hard to say. But I ...
THE ASSOCIATED PRESS: House Passes 'Bailout' Bill -- Media Reaction SoonHouse Passes 'Bailout' Bill -- Media Reaction SoonWASHINGTON Congress has passed complex and highly criticized legislation authorizing $700 billion in government money to shore up the nation's stressed financial industry.The 263-171 vote by the House sends the Senate-passed version to the White House for President Bush's signature. Among many features, the measure would allow the Treasury Department to buy up bad debt from various lending institutions.Many members of the House voted for the bill even though said it was very attractive to them and to their constituents back home. The measure had been defeated in the same chamber on Monday, ...
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ANDY BARR: GOP rep says Palin should stopGOP rep says Palin should stopRepublican Rep. Ray LaHood of Illinois said Friday that Alaska Gov. Sarah Palin should cool her rhetoric directed at Barack Obama.“This doesn't befit the office that she's running for. And frankly, people don't like it,” LaHood said during an interview on WBBM, a Chicago radio station.Palin has accused Obama of “palling around with terrorists” and of putting “political ambitions in front of doing what's right for our troops.”As Palin and running mate John McCain have upped the level of attack against Obama, the crowd at their rallies have grown increasingly angry toward the Illinois senator. ...
MICHAEL CALDERONE: NYT: McCain camp pushed Ayers reportNYT: McCain camp pushed Ayers reportAs the McCain campaign has launched a full-scale assault on Barack Obama’s relationship to ‘60s radical William Ayers, vice presidential nominee Sarah Palin has explained the timing this way: The New York Times made us do it.The Times published a front-page story about Ayers and Obama on Saturday, and Palin said Tuesday she was simply “responding to the news of the day” by repeatedly mentioning Ayers on the stump.Bill Keller, executive editor of the Times, sees the timetable for the Ayers uproar in a very different way, however. He told Politico that the paper was ...
Patrick O'Connor: House e-mails remain downHouse e-mails remain downHouse e-mail accounts have been down since Thursday night, frustrating congressional aides on both sides of the aisle.The shutdown, which also affects BlackBerrys, was the result of an overloaded circuit breaker at one of the data centers that processes e-mail and other Internet services, meaning it was an electrical problem and not related to an overflow of outside e-mail traffic, according to a letter from Chief Administrative Office Daniel P. Beard.The system suffered a massive slowdown last week after the House defeated an initial version of the bailout bill, sending financial markets into a tailspin and prompting ...
MIKE ALLEN: White House says markets will stay openWhite House says markets will stay openA White House official said the United States is not considering the idea floated by the Italian government of closing world financial markets in an attempt to restore stability.Bloomberg News quoted Italian Prime Minister Silvio Berlusconi as saying after a cabinet meeting in Naples: "The idea of suspending the markets for the time it takes to rewrite the rules is being discussed."Bloomberg said he was talking about world markets, quoting him as saying that a solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''A senior ...
JONATHAN MARTIN: Panic attacks: Voters unload at GOP ralliesPanic attacks: Voters unload at GOP ralliesThe unmistakable momentum behind Barack Obama's campaign, combined with worry that John McCain is not doing enough to stop it, is ratcheting up fears and frustrations among conservatives.And nowhere is this emotion on plainer display than at Republican rallies, where voters this week have shouted out insults at the mention of Obama, pleaded with McCain to get more aggressive with the Democrat and generally demonstrated the sort of visceral anger and unease that reflects a party on the precipice of panic.The calendar is closing and the polls, at least right now, are not.With McCain ...
PATRICK O'CONNOR & AMIE PARNES: The new villains: Dodd and Frank?The new villains: Dodd and Frank?John McCain and his Republican allies have elevated as political villains an unlikely pair to deflect blame for the slumping economy.During a town hall in Wisconsin on Thursday, McCain called Senate Banking Chairman Christopher J. Dodd (Conn.) and House Financial Services Chairman Barney Frank (Mass.) “willing co-conspirators” in the current financial collapse. This comes as conservative talk radio hosts and an outside group aligned with the GOP accuse the duo of similar crimes against the economy, particularly an allegation that congressional Democrats blocked legislation to increase regulations and oversight for mortgage giants Fannie Mae and ...
CARRIE BUDOFF BROWN & BILL NICHOLS: Debate II: McCain struggles to derail ObamaDebate II: McCain struggles to derail ObamaNASHVILLE, Tenn. — John McCain came here Tuesday hoping the second presidential debate would help him jar loose a campaign that for the past three weeks has been about the economy, the economy and the economy.He didn't get his wish.Energized in his demeanor, McCain took his case to Barack Obama at Belmont University with waspish intensity, and he came with at least one big new idea on how the country can weather this financial storm. But the transcendent threat of the nation's economic crisis utterly dominated the evening — another night when millions of ...
MIKE ALLEN: White House begins transition meetingsWhite House begins transition meetingsThe White House announced plans Thursday for the first post-Sept. 11 presidential transition, which will begin before Election Day for the first time in the nation’s history.President Bush announced a Presidential Transition Coordinating Council that will meet next Wednesday at the Eisenhower Executive Office Building, with representatives of the White House and both presidential campaigns.The White House began talking and meeting with representatives of Sen. Barack Obama (D-Ill.) and Sen. John McCain (R-Ariz.) this summer.For the first time, the government is conducting background checks on potential transition officials before there is a presidential election."We've been in ...
ANDY BARR: Palin: Obama not telling ‘total truth’Palin: Obama not telling ‘total truth’Alaska Gov. Sarah Palin attacked Barack Obama Thursday for not being honest about his association with 1960’s radical William Ayers.“Barack Obama hasn’t told the American people the total truth about that, about his association with Ayers,” Palin said on conservative radio host Laura Ingraham’s show. “Doggonit he fails to tell the American people with candor and with truthfulness what his associations are and we have to know.”Palin blamed the media for not providing what she characterized as the same level of scrutiny to Obama that it has applied to her and running mate John McCain.“I ...
VICTORIA MCGRANE: Critics: McCain housing plan 'half-baked'Critics: McCain housing plan 'half-baked'John McCain’s surprise policy offering Tuesday night to have the government buy bad mortgages is bold, sweeping and, well, a bit perplexing to nearly everyone.From economic experts to political pundits, from liberals to conservatives, the proposal has been greeted with a collective sense of puzzlement that is raising questions not only about the substance of the plan, but of the seeming hastiness surrounding its rollout.The few details available about McCain’s American Homeownership Resurgence Plan gives the impression the plan is “half-baked,” according to Larry Sabato, director of the University of Virginia’s Center for Politics.“If you’re launching ...
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