Nov 29, 2011

Will German Stubbornness Kill the Euro?



Today: Cain Tells Staff He May Drop Out , Iranian Students Storm U.K. Embassy , Why Newt Gingrich Is a Stronger Presidential Candidate Than He Looks
The Daily Beast Cheat Sheet: Afternoon

November 29, 2011
SUICIDE COURSE

Germany is holding up a solution to the euro crisis with its dogged insistence that financially irresponsible countries should pay the price for their mistakes. But New York Times columnist Joe Nocera says the time for moralism has passed, and Europe can afford only to worry about its survival.

OPTIONS

Herman Cain is down, and he may be out soon. The National Review and The Des Moines Register report that Cain told senior staffers on a conference call this morning that he's "reassessing" whether to stay in the race, and he'll decide within a few days. "We have to do an assessment as to whether or not this is going to create too much of a cloud in some peoples' minds," Cain said. Just yesterday, a campaign spokesman said that the candidate was definitely staying in the race, despite the recent allegations that he had a 13-year extramarital affair. The accuser, a woman named Ginger White, told Fox 5 Atlanta that their affair ended shortly before Cain announced his candidacy. Cain tried to preempt White by announcing the accusation first, even declaring, "Here we go again."

HARDLINE

Dozens of hardline Iranian students overtook the British Embassy in Tehran on Tuesday, lowering the British flag while chanting "death to England" and "the embassy of Britain should be taken over." They also threw documents out the windows. Reuters reported that the students had taken six embassy workers hostage, citing Mehr, an Iranian news agency, but then said Mehr had removed the report. The incident comes just two days after the Iranian Parliament passed a bill that restricts diplomatic relations with Britain, in light of Britain's support of the U.S.'s upgraded sanctions on Iran. In a statement, Britain's foreign office said: "We are outraged by this. It is utterly unacceptable and we condemn it."

GRACIOUS

The pundits say Newt Gingrich's flip-flops, immigration stance, and messy personal life will doom him. Michael Medved on why that's wrong—and only the wholesome family values of Romney and Obama pose a threat.

BIG BANKS

In the summer of 2008, Treasury Secretary Henry Paulson told reporters—and the Senate—that Fannie Mae and Freddie Mac should and would remain in the hands of shareholders. He wasn't so tightlipped with his former Wall Street pals, however. A new Bloomberg Markets magazine article details how Paulson, a former Goldman Sachs chief, laid out for certain hedge funds plans for a government takeover of Fannie and Freddie in July 2008. After the meeting, the lawyer of one of the hedge-fund managers who attended warned his client that Paulson's talk was material nonpublic information and he should immediately stop trading Fannie and Freddie shares.


IRAQ
Joe Biden Arrives in Baghdad
V.P.'s trip symbolizes end of war.
OFFICIAL
Norway Shooter Declared Insane
Prosecutors say Anders Breivik not mentally fit for prison.
Takedown
Scocca: ESPN's Syracuse Sins
The network sat on abuse charges for years.
AWARDS SEASON
Movie Award Nominees Announced
For Independent Spirit and New York Film Critics Circle honors.
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