President Barack Obama nominated Sonia Sotomayor, a Bronx-born, divorced, childless, diabetic, Hispanic federal judge on the U.S Court of Appeals for the Second Circuit, to replace Justice David Souter on the Supreme Court. Analysts studying Sotomayor’s decisions were unable to determine whether she would uphold Roe v. Wade, or whether she was distinctly pro- or anti-business, but much was made of a 2001 speech at the University of California at Berkeley in which she expressed hopes that a “wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male …

An American cattleman. The U.S. Bureau of Labor Statistics announced that 651,000 jobs were lost in February (making it the third straight month in which more than 650,000 jobs have been lost) thus increasing the unemployment rate to 8.1 percent, the highest level since 1983. The Obama Administration pointed to 60 new highway-paving jobs in Maryland as proof that the $787 billion stimulus package was succeeding. “That’s how we’re going to get the country back on its feet,” said Transportation Secretary Ray LaHood. The White House hopes that the stimulus package will generate 3.5 million jobs; 4.4 million have been …

Israel and Hamas agreed to a one-week ceasefire in Gaza, where Gazan officials estimated that 1,300 Palestinians had died.Hamas Agrees to One-Week Cease-Fire in Gaza Conflict“My grandmother was ill in bed when the Nazis came to her home town of Staszow,” said Sir Gerald Kaufman, a British MP who was raised as an Orthodox Jew. “A German soldier shot her dead in her bed. My grandmother did not die to provide cover for Israeli soldiers murdering Palestinian grandmothers.”UK Jewish lawmaker: Israeli forces acting like NazisA Berlin court ruled to allow the display of Hamas flags and paraphernalia at anti-Israel protests, …

An American cattleman. President George W. Bush announced a $13.4 billion bailout for General Motors and Chrysler. The bailout, which will make use of funds authorized by Congress in October for the rescue of U.S. financial institutions, requires among other things that the automakers sell their fleets of private aircraft. “I’ve abandoned free-market principles,” said Bush, “to save the free-market system.”New York TimesBreitbartPresident-elect Barack Obama called for an expansion of his economic recovery plan in order to save a half-million more jobs atop the 2.5 million he already hopes to save, at a total cost of $600 billion or $700 …

Caught in the Web, 1860. Federal agents arrested hedge-fund manager Bernard Madoff and charged him with running a $50 billion Ponzi scheme, possibly the largest in Wall Street history. Madoff faces a maximum penalty of 20 years in prison and $5 million in fines; he had hoped to distribute his last $200 million to friends, family, and favored employees before his arrest, but was turned in by his sons. SECNYTBloombergWSJNYTRepublicansenators killed a plan to loan $14 billion to American automakers, and the White House said it would consider other options to save the industry and as many as three million …

Barack Obama was elected the 44th president, and first African-American president, of the United States, receiving 365 electoral votes in an election that saw perhaps the highest turnout among registered voters in a century. “If there’s anyone out there who still doubts that America is a place where all things are possible,” Obama told supporters, “tonight is your answer.” “The American people have spoken, and they have spoken clearly,” said John McCain in a teary-eyed concession speech. “What an awesome night for you,” President Bush said to Obama. “His choice, basically, is whether he is going to be Uncle Sam… …

The world economy continued its collapse. The Dow Jones Industrial Average declined 22 percent over eight days, Wall Street lost $2.4 trillion in market value, and Iceland went bankrupt.CNNBusiness WeekThe head of the International Monetary Fund warned that the world was on the “brink of systemic meltdown,”BBCand Democrats in Congress called for a $150 billion economic stimulus plan to rebuild America’s crumbling infrastructure.Yahoo! NewsBarack Obama called for firms that create jobs to be rewarded with tax credits and for a moratorium on foreclosures;AFPJohn McCain refused to answer questions about his economic plan, but was reportedly considering a cut in the …

A Christian martyr. The Dow Jones Industrial Average fell 777 points in one day after the House of Representatives failed to pass a Wall Street bailout plan, first put forth by President George W. Bush, that would have granted Treasury Secretary Henry Paulson up to $700 billion to buy, at any price, toxic mortgage-backed assets from financial firms. “It’s not based on any particular data point,” said a Treasury spokeswoman of the $700 billion figure. “We just wanted to choose a really large number.”Wall Street JournalWashington PostForbes.comSenator John McCain announced that fixing the economy was more important than politicking, suspended …

Caught in the Web, 1860. After many years of increasing borrowing and at least thirteen months of evidence of an impending catastrophe, American financial institutions faced the worst credit crisis since the Great Depression. “The world,” explained Iranian President Mahmoud Ahmadinejad, “no longer has the capacity to absorb fake U.S. dollars.”EconomistThe Wall Street JournalBloombergGlobal stock markets lost $3.1 trillion in four days, and American International Group (AIG), the world’s biggest insurance company and a leader in the $62 trillion credit-default swap market, was nearly bankrupted. “The private market has screwed itself up,” said Representative Barney Frank (D., Mass.), “and they …

Stocks on Wall Street and other exchanges throughout the world dropped as brokerage Merrill Lynch was bought by Bank of America, insurance giant AIG sought tens of billions of dollars in government loans, and investment bank Lehman Brothers declared bankruptcy.The New York TimesJohn McCain and Barack Obama suspended political advertising and appeared together at the World Trade Center site to commemorate the seventh anniversary of the September 11 attacks,The New York Timesand former Massachusetts governor Jane Swift, chair of the Palin Truth Squad, demanded that Obama apologize for saying that McCain’s promise to change Washington amounted to putting “lipstick on …

One million people fled New Orleans to avoid Hurricane Gustav, which landed in Louisiana as a weakened category-2 hurricane and caused relatively little damage. Mississippi officials ordered people still living in the FEMA trailers erected after Hurricane Katrina to evacuate, and John McCain canceled opening-day ceremonies for the Republican National Convention at the Xcel Energy Center in Saint Paul, Minnesota. “This is a time when we have to do away with our party politics and we have to act as Americans,” said McCain. “Not as Republicans.”GuardianIOL.co.zaNew York TimesUSA TodayYahoo!McCain picked Alaska Governor Sarah Palin, 44, as his running mate. Palin, …

An American cattleman. Wildfires spread from north of Los Angeles to south of San Diego, killing at least seven people, consuming more than 1,800 homes, burning a half-million acres, setting Camp Pendleton afire, forcing about 300,000 San Diego residents to evacuate, and prompting California Governor Arnold Schwarzenegger to declare seven counties disaster areas and to mobilize the National Guard. At the Qualcomm Stadium in San Diego, typically home to the Chargers but a place of refuge for 20,000 evacuees during the fires, an air-conditioned medical tent was erected, a cell-phone provider offered free calls to anywhere in the United States, …

Israel, a few days before Yom Kippur, declared that the Gaza Strip is now a “hostile entity,” and the office of Prime Minister Ehud Olmert (who is under investigation for corruption) announced a collective-punishment plan that includes “limiting the transfer of goods to the Gaza Strip, cutting back fuel and electricity, and restricting the movement of people to and from the Strip.” Hamas spokesman Fawzi Barhoum condemned Israel’s “criminal, terrorist Zionist actions.”BBC NewsBBC NewsABC NewsU.S. Secretary of State Condoleezza Rice, who recently was denied an audience with the Pope, went to Jerusalem to bring peace,BBC Newsand it was reported that …

President George W. Bush predicted a “nuclear holocaust” if Iran develops weapons of mass destruction and accused the country of undertaking “murderous activities in Iraq”; Iran’s foreign minister described Bush’s comments as a sign of “political despair” caused by “a serious problem in creating propaganda for the next election.” BBCBBCBreitbart.com via Drudgereport.comBush announced his intention to found a “fantastic Freedom Institute” after he leaves office,NY Timesand two brothers survived in a collapsed Beijing coal mine for five days by eating coal and drinking their own urine. “You can only take small sips,” said Meng Xianchen, “and when you’ve finished, you …

An American cattleman. Attorney General Alberto Gonzales resigned.New York TimesThe CIA’s inspector general released a report recommending that former CIA director George Tenet and other senior officials be held accountable for failing to prepare for the threat of Al Qaeda before the September 11 attacks,New York Timesand the Pentagon announced it would close Talon, the database created after September 11 to monitor and store information about security threats and peace activists. Washington PostGrace Paley died.New York TimesIn a motion filed by the Justice Department, the Bush Administration argued that the White House Office of Administration is not subject to the …

At least 150 Iraqis were killed by a truck bomb in northern Iraq in possibly the deadliest bombing since the United States invaded in 2003, and it was reported that, despite a police security drive, the number of unidentified bodies found in Baghdad had increased sharply in June. New York TimesBBCnews.comAustralia’s defense minister, Brendan Nelson, admitted that securing oil is one of the reasons Australian troops stay in Iraq. “This government,” said Labor leader Kevin Rudd, “simply makes it up as it goes along.”BBCnews.comThe White House rejected demands to hand over documents related to the firings of eight U.S. attorneys …