Congress and the president favor a $700 billion Wall Street bailout, but they're afraid to say how they'll pay for it. - By Daniel Gross - Slate Magazine

What is the big deal about the money? No one believes in good accounting in Washington anyways (or in Cook County for that matter). What's the worst case scenario? My buddy was trying to explain to me that many/most large corporations borrow money constantly. The fear is that with this current crunch, that all the business in the world will grind to a halt and we'll have record unemployment. I doubt that whatever the Fed and Treasury are doing that it would be able to stop that. No one is buying the reassurance that the government is giving. Why is that? Maybe because U.S. Treasury bonds aren't really AAA rated anymore. They are, but the market doesn't beleive it. With a $9.7 Trillion debt and endless war in the Middle East, expensive legacy costs, the U.S. Government might not be the safest place for investment. Just a thought.

Tribune News | Chicago Business News, Analysis & Articles | Chicago Tribune unveils new look | Crain's

The new look Tribune has some good points. It seems like today's Trib is already sticking to the three story front page with bigger graphics. There's an article about the Bear's loss, the Wall Street Crisis and Zebra Mussels in a quarry. I'm not sure that this is an improvement, but we'll have to wait and see when its officially unveiled. Although i think that Today's Trib if it were mushed up into three sections would be a pretty good representation.

Why Obama acts like he's 10 points up in the polls. - By John Dickerson - Slate Magazine

This does make me feel better. Barring any disasters, the next telling moment will be the debates coming soon.

Asia Rethinks American Investments Amid Market Upheaval - NYTimes.com

Uh-oh. No more credit from Asia? Even a slowdown is very bad news for the economy. They have been buying U.S. Bonds, bankrolling U.S. debt so we could buy houses and consumer crap from Asia. If they slow the funds, price of debt goes up (hello credit crunch, oh -- we already have one of those), consumer hibernate, they don't get to sell as much stuff to us. Asian economies slow, then they buy even less U.S. debt. This does not end well, especially for the U.S.

Michael Gerson - Obama's Panic - washingtonpost.com

I would not go as far saying he is panicked; he's done nothing panicky yet. No bombs lobbed or personal attacks (although getting that 7 houses story was a bonus) have been aimed directly at McCain. They have simply stuck to the plan. I would say that Obama is rocked back on his heels and seems sluggish in the onslaught after the GOP Convention. I have to hope that he knows what he's doing keeping his powder dry and waiting. He's trusting his ground game and the money to run ads. In the tall grass he waits for McCain in the debates. I agree and the Biden pick may have been a minor tactical error, but Sebelius was not going to help him carry Kansas. I'm still waiting.

SPLICETODAY.COM | Politics & Media | The Audacity of Defeat

I'm not sure that the roundup is not useful, but I have to disagree with a lot of it. Although it does add to a conversation I had this weekend. I think regular "Big D" Democrats are very annoyed by Obama's campaign and even more annoyed by the Obamabots. They have a certain arrogance and disdain for party regulars that is very disappointing. They don't think Clinton was a real Dem and would rather lose and have a Republican in the White House than give up some Liberal ideal. Additionally the virulence of their hate of moderate Dems or even Dems that are willing to express the idea of wanting to win is scary. The fanatics don't care if the party sinks or self destructs. They are not thinking beyond Election Day or the future of the country and their children. They are living in the now. If they are living on the edge like that, I wish they'd be willing to go to the mats and win. But I don't think so. We'll see soon enough.

Palin's Project List Totals $453 Million - WSJ.com

Listening to Brooks and Shields this morning, Shields has it right about Palin. She has hit her peak last week. People that like her will like her and vice versa, but the middle ground there, will be unimpressed as she gets a second and third look. There should be a group called end welfare to Alaska and start looking at the ridiculous subsidies we pay to Alaska residents.

One Label Does Not Fit All:

"I hate when I hear some white people going on about 'those illegal aliens taking my job.' . . . Let me tell you something: If a guy gets here from another country, can't read, can't write, can't speak the language, has no technological skills and takes your job? You're a [expletive].'"

Best pro-immigration line ever!

David S. Broder - Too Early To Call It - washingtonpost.com

Terrible news for Obamabots. If its close he loses in a landslide. He's got to be up by ten points to have a chance to win this thing. MI and PA are not looking good. As nice as it would be to have VA, it does not counter losing those states. Plus, I don't think Harry Byrd's state will elect a black man president. Let's get it rolling.

Obama On The Losing End of Personality Contest - The Fix:

"McCain's resume -- from a personal and a political perspective -- is as deep and emotionally resonant as any in American politics. The more this race becomes about that resume, the better Republicans have to feel about their chances."

It would be a mistake to not take head-on. Take a page from the Rove playbook and attack the opponents greatest strength. For McCain and Palin it is their biography. If you want to be ruthless, let's talk about his skirt chasing. Have you heard of the Tailhook sex scandals? That is the Naval Aviator culture that he comes from. Let's talk about how he chose to "serve" the state of Arizona. Where is his independence when voting for tax cuts, military boondogles, and Indian Casinos? The answer is that he's a craven, ambitious, jerk. Let's start the conversation there.

There also needs to be some sort of verbal judo when talking about the celebrity thing. Why not turn it around and make the issue that McCain is old and uncharismatic? How can you be a celebrity when you're ugly? Not very nuanced, but someone can come up withsomething better. The lack of apparant action is very damaging. Next thing you know, we'll see Obama windsurfing.

Palin Billed State for Nights Spent at Home

Sweet. I'm not sure that defending yourself by bringing out Frank Murkowski is a good idea. It does seem that there are som legit expenses, but the headline alone has got to sting.

Memo From Cairo - 9/11 Rumors That Harden Into Conventional Wisdom - NYTimes.com

Wow! This maybe the number one reason that the Bush Administration will always be mentioned in the same breath as Harding and Nixon. The idea that it is conventional wisdom in Cairo that the United States attacked itself is shocking. Obviously this should be rejected out of hand, but the idea that people believe this to be true illustrates the divide between the West and the Middle East. This also echoes the Vietnam Era misunderstandings between the Vietnamese and the U.S. How do you win Hearts and Minds without really understanding the people you are supposed to help?

TheHill.com - Westmoreland calls Obama ‘uppity':

"'Just from what little I’ve seen of her and Mr. Obama, Sen. Obama, they're a member of an elitist-class individual that thinks that they're uppity,' Westmoreland said.

Asked to clarify that he used the word “uppity,” Westmoreland said, “Uppity, yeah.”"

After living so many years away, I forgot how things can be in the South. It's certainly not everyone or even close to a majority, but it is interesting how code words are still being used so effectively. With the huge anticipated black turnout, there would have to be some sort of racial backlash. Obama's will keep running a post-racial campaign, but I think that growing up somewhere else, not America, has got to help. The hurt of the words of the past cannot be denied, but you gotta keep moving.

Detroit Mayor Pleads Guilty, Agrees to Resign - NYTimes.com

Finally. I'm not sure that this is the right punishment, but at least its over. I would have gone after more money (like the cost of the original lawsuit) and less jail. He becomes almost like a martyr when he goes to prison. Maybe he'll comeback like Marion Barry. Hopefully he'll do some good and redeems his name.

Usmagazine.com | News - Sarah Palin: Political Opponent Recalls Being Ridiculed:

"On January 15, Alaska governor Sarah Palin laughed along with an Alaskan shock-jock DJ who called her political rival Lyda Green a 'cancer,' a 'bitch' and ridiculed her weight. (Green is a cancer survivor.)"

Maybe she's just shrill and mean?

In a More Diverse America, A Mostly White Convention:

"Only 36 of the 2,380 delegates seated on the convention floor are black"

Things are bad in GOP land. While watching the Republican National Convention intermittently this week I noticed how white the floor looks. Rare shots of the rare black delegate. I'm surprised they didn't at least put some Hispanics or Blacks near Cindy. the most color at the Convention is the 1/4 blooded Eskimo married to Gov. Palin.

I'm sure the GOP will recover, but it will take awhile. They have seriously pissed away all that work done in the first 5 years of the Bush Administration. The immigration screeds and Hurricane Katrina (Kanye's "George Bush doesn't care about black people." crystallized what people thought) have destroyed the party's chances in the minority populations for a few cycles at least. It will probably take a dominant leader in the GOP to get this through, that and the aging of the old anti-immigration coots.

BTW, when did drilling become the calling card of the GOP? I know its popular and all that, but Rudy got stopped a couple of times last night with "Drill Baby Drill" lines. Is this like fox hunting to the Conservatives in the UK?

Palin E-Mails Show Intense Interest in Trooper's Penalty

Weird situation with all this family history being aired out. I'm not sure that this is a firing offense, but it does show something about John McCain. His nomination of her brings up some questions about his judgment. He seems to make rash "Hail Mary" decisions. I don't think that's a good idea to have a old geezer be Commander in Chief. It's a definite risk to have him be President.

Storm brews over Palin :: CHICAGO SUN-TIMES :: Lynn Sweet

In my little world, things are at a turning point here. One the one hand the pregnancy and firing of her brother-in-law could fade into the background and pass with barely a whimper. On the other hand, things could crystallize against her and McCain. The Dems have not put out a compelling narrative or catchphrase, but they should hurry. In 2004, Rove announced that John Kerry was a flip-flopper and everything was written with that lens around it driving public opinion. The Obamabots need to get to it and hone a message that hurts McCain in the same way. The 4 more years of Bush thing was working, but now the scent has been thrown off by Palin. Maybe something like 4 more years of Bush the elder (que Palin the Quayle role?) Maybe too subtle, but a narrative needs to develop ASAP.