Morning News; August 11th, 2008

1) Forget New York Baseball, this weekend was all about the U.S. Olympic team: Lebron and Co. reminded the world that (when they try, at least) the U.S. “Redeem Team” is simply in a different class than everyone else and, most importantly, Jason Lezak swiftly shut-up the French by swimming the fastest 100m split of all time anchoring the world record relay that out-touched the French by .08. The French had come to crush the U.S.- and Phelps chance of winning eight golds- but they were unsuccessful.

2) Edwards admitted his affair, Maureen Dowd has her own theory, and anyone who had chosen him as a VEEP nominee should probably withdraw their bet.

3) Allegations of insider trading emerge in the Bear Stearns case:

In a gambit with such low odds of success that traders question its legitimacy, someone wagered $1.7 million that Bear Stearns shares would suffer an unprecedented decline within days. Options specialists are convinced that the buyer, or buyers, made a concerted effort to drive the fifth-biggest U.S. securities firm out of business and, in the process, reap a profit of more than $270 million.

4) Russia issues an ultimatum to Georgia, in what seems to be one of the least discussed military action in recent memory. Superb timing on the part of the Russians to invade during the Olympics.

Since everyone has returned from the PSAP D.C. convention, more posts will be forthcoming.

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