Monday, October 06, 2008

NATIONAL & WORLD DIGEST - October 06, 2008

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New York Times
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-Stocks Fall Sharply in Europe and Asia
PARIS - Stocks tumbled Monday in Europe and Asia, and oil fell below $90 for the first time since February as fears grew that the financial crisis is spreading to the world economy.

-European markets slid at the opening, a day after governments were left scrambling to prevent the collapse of two lenders, Hypo Real Estate in Germany, and the Belgian operations of Fortis. The German government also said Sunday that it would guarantee all private bank deposits as it sought to avert the spread of the financial contagion.

-Financial Crises Spread in Europe
European nations scrambled further Monday to prevent a growing credit crisis from bringing down major banks and alarming savers as Sweden followed Germany, Austria and Denmark in offering new protections for bank deposits.

-Editorial: The Supreme Court's New Term
The Supreme Court begins its term on Monday, and the indications so far are that it could be a quiet year. There will be at least a few high-profile cases, on issues ranging from obscenity to church-state separation, but the swing vote of Justice Anthony Kennedy is likely to keep the court on a generally centrist path. The real excitement this fall is occurring on the outside - in a presidential race that could shape the court for years to come.

-Op-Ed Columnist: Health Care Destruction
Sarah Palin ended her debate performance last Thursday with a slightly garbled quote from Ronald Reagan about how, if we aren't vigilant, we'll end up "telling our children and our children's children" about the days when America was free. It was a revealing choice. You see, when Reagan said this he wasn't warning about Soviet aggression. He was warning against legislation that would guarantee health care for older Americans - the program now known as Medicare.

-Editorial: Detroit Got Its Bailout
While the White House and Congress have been embroiled in negotiations over the $700 billion bailout of the nation's bedraggled banks, another bailout of sorts passed Congress just under the radar: $25 billion in subsidized loans for Detroit's bedraggled automakers.

-Op-Ed Columnist: Kiplin' vs. Palin
Repeat after me: pigs can't fly. Repeat after me: if you don't work you die.
Repeat after me: fire will certainly burn. As it happens - life's ironies - I was reading Kipling after watching the vice-presidential debate, or more precisely Sarah Palin, the winking "Main-Streeter" from Wasilla. And the words of hers that rang in my ears were: "One thing that Americans do at this time, also, though, is let's commit ourselves just everyday American people, Joe Six Pack, hockey moms across the nation, I think we need to band together and say 'Never Again.' Never will we be exploited and taken advantage of again by those managing our money and loaning us these dollars."

Washington Post
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-Trust Is 'A Two-Way Street'
Iranian Foreign Minister Manouchehr Mottaki spoke with Newsweek-The Post's Lally Weymouth in New York last week about U.S.-Iranian relations. Excerpts:
Q. Do you believe there will be an Israeli or an American attack on your nuclear facilities?
A. No.

-Earth Aboil
A new study raises the imperative to get serious about reducing greenhouse gas emissions. SO MUCH carbon was released around the world from burning fossil fuels in 2007 that it could lead to a sweltering 11-degree Fahrenheit increase in the Earth's temperature by the end of the century, according to data recently unveiled by the Global Carbon Project. To put it more starkly, the relentless buildup of carbon emissions in the atmosphere is outpacing the worst-case scenario outlined by the Intergovernmental Panel on Climate Change (IPCC).

-Registration Gains Favor Democrats
Voter Rolls Swelling in Key States
As the deadline for voter registration arrives today in many states, Sen. Barack Obama's campaign is poised to benefit from a wave of newcomers to the rolls in key states in numbers that far outweigh any gains made by Republicans.

-A Pal Around McCain
"There's no question that we have to change the subject here," a senior Republican operative told The Post's Michael D. Shear in a story published Saturday. The "subject" in question is the economy and how to fix it. As Americans have taken their eye off the ball -- that is, off John McCain's sterling qualities of character and command -- by focusing on the economy, Barack Obama has surged into the lead nationally and in many key battleground states.

-Analysis: Palin's words may backfire on McCain
By claiming that Democrat Barack Obama is "palling around with terrorists" and doesn't see the U.S. like other Americans, vice presidential candidate Sarah Palin targeted key goals for a faltering campaign. And though she may have scored a political hit each time, her attack was unsubstantiated and carried a racially tinged subtext that John McCain himself may come to regret.

The Wall Street Journal
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-Why This 'Credit Crisis' Hits Everyone
The past few weeks have rattled financial markets around the globe and shaken investors deeply. Amidst all the turmoil, Congress passed a $700 billion bailout bill last week aimed at restoring confidence in the financial system. The stock market has grabbed the headlines, but it is the reeling credit markets that will get the most government attention in its bailout efforts. Understanding the problems in the credit markets can help you get a better handle on what is driving the current financial crisis.

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-Issues such as immigration, economy have Hispanic evangelical voters facing dilemma
Group tends to vote Republican, but many may be up for grabs They lean right on abortion and marriage, left on immigration and the economy. This election season, Hispanic evangelical voters are caught in a moral tug of war that has their Republican loyalties slipping, religious leaders say.,0,7377116.story

Miami Herald
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-Supreme Court is next to go
I really hate to bring it up. We already have two branches of our national government in full-scale meltdown. The president looks like a guy pleading before the parole board for early release. The Congress makes ''dysfunctional'' sound like a compliment. But there is the third branch also in dire need of a rescue operation. Oyez, oyez, or should I say oy vey. I give you the Supreme Court.

Fort Report
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-Obama allies warn McCain camp to back off attacks
Barack Obama's allies warn that John McCain's attacks on the Democrat's character will lead to the political equivalent of mutual assured destruction: Fire your big weapon at your own peril. Several Obama surrogates said his supporters may start reminding voters of McCain's ties to Charles Keating, a convicted savings and loan owner whose actions two decades ago triggered a Senate ethics investigation that involved McCain as one of the "Keating Five.",0,6314833.story

-Obama's grass-roots battalion vs. McCain's ragtag platoon
In Wisconsin's blue-collar Paper Valley, the Democrats are banking on an outpouring of volunteers while the Republicans are left with fear itself. Mid-morning Saturday, the Republican headquarters here in the fiercelycontested northeast corner of Wisconsin reflected the somnolent air of the half-empty indoor mall in which it was located. A few Republican stalwarts wandered by to pick up McCain-Palin lawn signs and other GOP campaign paraphernalia. A signboard on the wall announced the target of "878 Doors" on which to knock, but it was evident that most of the canvassing -- the lifeblood of grass-roots organizing and get-out-the-vote drives -- would be done by pairs of high-school students too young to vote.

-No rescue in sight for what ails economy
Even if the financial bailout works, the economy faces troubles too pervasive and entrenched to be solved any time soon, analysts say. While Americans have spent the last month transfixed by the spectacle of one financial giant after another crashing to the ground, the rest of the U.S. economy has been sinking in the muck. By now, the process is so far advanced that, even after passage of the Bush administration's $700-billion financial rescue plan Friday, the nation's economic options span the unappealing gamut from bad to worse.,0,1584494.story?track=rss

-Candidates Prepare for Tuesday's Town Hall Debate
Format Is Seen As McCain Forte
In one of the most beautiful spots on the globe, Sen. John McCain spent much of Saturday holed up in a dark hotel conference room, engaged in intense debate preparation. At the end of it, the GOP nominee told his aides that was crazy, and so Sunday's first round of debate prep was held outside, near the creek by his house in the scenic Arizona desert.

Forwarded by Ron Mills

A non-profit organization has offered a $100,000 reward to anyone who can supply information tying Republican strategist Karl Rove and computer expert Michael Connell to illegally manipulated elections, according to a Friday press release. The group is called Velvet Revolution and is looking for evidence of criminal activity and Connell's relationship with Rove. Citing testimony from another technology expert named Stephen Spoonamore, Velvet Revolution accuses the Republican Party of rigging elections for years by using Connell to exploit electronic voting systems. [...] Connell ran the Florida Government computer network during the presidential election of 2000 and the Ohio Secretary of State election computers during the presidential election of 2004.

-On October 4, The New York Times published a 2,140-word front-page article about Sen. Barack Obama's association with former Weather Underground member William Ayers -- at least the 18th Times article this year mentioning that association. But the Times has yet to mention, let alone devote an entire article to, Sen. John McCain's relationship with radio host and convicted Watergate burglar G. Gordon Liddy. [...] Liddy has donated $5,000 to McCain's campaigns since 1998, including $1,000 in February 2008. In addition, McCain has appeared on Liddy's radio show during the presidential campaign, including as recently as May. An online video labeled "John McCain On The G. Gordon Liddy Show 11/8/07" includes a discussion between Liddy and McCain, whom Liddy described as an "old friend." During the segment, McCain praised Liddy's "adherence to the principles and philosophies that keep our nation great," said he was "proud" of Liddy, and said that "it's always a pleasure for me to come on your program."


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