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 ]