Collapses And Take-Downs

  • The Federal Reserve approved a $30 billion credit line this weekend to fund Bear Sterns's "less-liquid assets." JPMorgan Chase is buying the investment bank for about $2 per share -- a 93% discount over its closing price Friday. The lesson: bargain shoppers really can clean up on Sunday sales. [New York Times, New York Times]
  • The Bear Sterns collapse takes down a cadre of double-chinned billionaire fat cats. [Wall Street Journal]
  • After taking a back seat to soccer moms and security moms, a once neglected population proves crucial to the Democratic vote: white males. [Washington Post]
  • A conservative Web site says Barack Obama attended one of his pastor's crazy "sometimes it is not so pleasant to be a black person in America" sermons even though Obama says he didn't. [Los Angeles Times]
  • Obama's church defends itself. [Politico]
  • Tibetans step up their protests against the Chinese. [Wall Street Journal]

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