Yesterday I posted some news going on across the pond, happening while this country was playing political games, including Britain was bailing out their largest lender to landlords, Bradford & Bingley Plc to the tune of US$40 billion, and Belgium, the Netherlands and Luxembourg was bailing out financial services firm Fortis to the tune of US$16.3 billion.

Shortly after that, Germany acted, and after that, it's been a steady flow of bailouts.

A bit of summary from the Wall Street Journal:

European governments and central banks rushed to the aid of financial institutions struggling to stay afloat amid a shutdown in the markets on which they depend to borrow money. In Germany, the government and a consortium of private banks provided a €35 billion ($51.15 billion) rescue package for big commercial lender Hypo Real Estate Holding AG.

In Iceland, the government nationalized the country's third-largest bank, Glitnir Bank hf, pumping in €600 million for a 75% stake.

And in Russia, Prime Minister Vladimir Putin said the government will allocate $50 billion -- and more if needed -- to provide banks with funds to pay back foreign loans coming due.

Breaking news right now on Bloomberg:
Dexia Will Receive $9.2 Billion Bailout From Belgium, France

Dexia SA, the world's biggest lender to local governments, will get a 6.4 billion-euro ($9.2 billion) state-backed rescue after worsening financial markets drove the shares to a record decline.

and Irish Government Will Guarantee Bank Deposits, Debt After Shares Slumped

Ireland's government said it will guarantee Irish banks' deposits and debt for two years, seeking to calm investor concern after banking shares fell 26 percent in Dublin yesterday.

 

And check it out:
Sarkozy Pledges to Aid French Banks Caught in Financial Turmoil:

``We have to support our banks,'' Sarkozy said today in a press conference in the coastal city of Marseille, France. ``The U.K., Belgium, Luxembourg, the Netherlands, Germany are states that acted to guarantee the stability and the security of the financial systems in their countries and in Europe.'

Mini-rant: MEANWHILE, ON TPM (yes I'm shouting,) amazingly some people are busy contemplating  a coverup of what's wrong with John McCain's left eye, and TPM Media thinks it's cute to use a headline that says "Congress Takes Vacation As Bailout Stalls: Oy Vey." At least the House Republicans pretended to have a passing interest in reality. Wake up people, what is happening is not a joke! Too many in the blogosphere are starting to sound and look exactly like a President Sarah Palin is what you deserve. Right, keep blogging on the bright shiny distracting political circus topics, just pretend everything's ok as those high-paying corporate ads start disappearing one by one, someone will furnish free bread sooner or later.

A.P., September 29,
MELTDOWN: Obama calls on Congress to get it done:

WESTMINSTER, Colo. — Democrat Barack Obama called on Congress to stay in Washington and pass a bailout for the hobbled financial industry, minutes after the House rejected the latest plan.

"One of the message I have for Congress: Get it done," Obama said.

The Democratic presidential candidate said he's confident Congress will eventually work out something, however. "I'm confident we're going to get there, but it's going to be rocky," the Illinois senator said.

Fortis Gets EU11.2 Billion Rescue From Governments (Update1)
Sept. 29 (Bloomberg)

-- Fortis, the largest Belgian financial-services firm, received an 11.2 billion-euro ($16.3 billion) rescue from Belgium, the Netherlands and Luxembourg after investor confidence in the bank evaporated last week.

Bradford & Bingley Set for Nationalization, Takeover (Update1)
Sept. 29 (Bloomberg)

-- Bradford & Bingley Plc, Britain's biggest lender to landlords, may be taken over by another bank or nationalized today under a U.K. government-backed plan to protect 21 billion pounds ($39 billion) of customer deposits.

Obama Slams McCain for a 'Katrina Like' Response to the Bailout Bill
September 28, 2008 4:03 PM

Obama: "Thanks to the hard work of Democrats and Republicans, it looks like we have a rescue plan that includes these taxpayer protections. It looks like we will pass that plan very soon."

'Un-American' Bailout, Paulson Should Have Quit, Gingrich Says
September 28, 2008 12:46 PM

Gingrich, R-Ga., on Sunday described Treasury Secretary Henry Paulson's request for billions of dollars to buy debt from struggling Wall Street financial firms as "un-American" and said the secretary should have stepped down. Gingrich even expressed concern with Paulson's connections to Wall Street.

This one:

 A Fine Mess (and a not-so-fine bailout.)
 
I could swear I just read nearly the exact same thing here at least 10 times with only slightly different language (of equivalent quality yet! ) So whacha do with Bill? Tied him up somewhere? Hacked into his computer and submitted a column for him?

Some commenters were dismissive of the New York Times article I posted on this issue Sept. 9.

Time to wake up,  it's true. He needs to continue to "break records." This crowing about "breaking records" is not conducive to helping him win. The more that is given without begging for it, the more time and money they have to campaign:
"Despite record month, Obama needs more cash" by Jeanne Cummings, Sept 14 @ Politico.com:

Barack Obama's $66 million haul in August donations may set records but it's only a down payment on the huge sums the Democratic nominee must continue to collect in order to compete through the Nov. 4 election.

...Those complex dynamics are likely to put additional pressure on Obama and his financing team. The enormity of the task is already fraying nerves in Chicago and eating into the Illinois senator’s campaign time as the campaign combs the country for both small and big donations.

“It’s a logistically challenging fundraising environment they face, because time is not on their side and their goals are so ambitious,” said Anthony Corrado, an expert on money and politics. “Do the math. They have to raise about $3 million a day” to reach an estimated target of about $200 million, he added.

....Tuesday, Obama is scheduled to be in Beverly Hills, a Zip code that is home to plenty of Democratic money but in a state whose electoral votes he already has in the bag. Money raised will go to the Democratic National Committee and his own campaign.

Tuesday, Obama is scheduled to be in Beverly Hills, a Zip code that is home to plenty of Democratic money but in a state whose electoral votes he already has in the bag. Money raised will go to the Democratic National Committee and his own campaign.

Obama has taken on a extraordinary burden that is complicated by his unprecedented ground game strategy for the fall and the late close to the primary season.

In July, Obama spent $57 million — more than any prior month and more than the $51 million he collected that month. A large chunk of that cash went to the salaries of his expanding field operation...

The following story was on the front page of today's New York Times but I have only seen it here as a link buried at the end of a post by Greg Sargent on a Hillary fundraiser. (Forgive if I missed it posted elsewhere.)

I would like to humbly suggest that those with a serious interest in the campaign spend the time to read it. If you're pressed for time, skip reading one of those umpteenth amateur efforts at attacking Palin in order to do so. Especially as it says that Gov. Palin is scheduled for 35 fund raising events over the next two months.

Straining to Reach Money Goal, Obama Presses Donors

...The signs of concern have become evident in recent weeks as early fund-raising totals have suggested that Mr. Obama’s decision to bypass public financing may not necessarily afford him the commanding financing advantage over Senator John McCain that many had originally predicted...

 

who helped get her there:

A Star is Born? by William Kristol

VP or not, that doesn't matter, she's made it, with your help.  Just keep creating more stories about her personal life, and thanks so much, Hedda Hopper and Louella Parsons could only dream of getting such buzz.

More than $900 million spent by presidential candidates so far, according to today's New York Times article:

Cashing In on Obama and McCain

Interactive graphic: Winners in a Long Campaign