Rethinking the Mendoza Line

• Miss Venezuela Dayana Mendoza wins Miss Universe. That has me rethinking the Mendoza line thing.
• The big news tomorrow on Wall Street will be the US plan to save Fannie and Freddie.  Treasury Secretary Henry Paulson said the Bush administration plans to ask Congress to enact legislation to temporarily increase the line of credit that the companies have with the Treasury. It would also allow the Treasury to buy stock in the companies. ...  In addition, the Federal Reserve announced Sunday that the mortgage finance companies can turn to the Federal Reserve Bank of New York for funds.
• Of course, Bush better act quickly, as Congress is about to go on Summer break.  Not like they have anything else on their plate, right?
• The first 48 hours with the new 3G iPhone.
• Bush vs. Congress on oil prices.  Bush says the Democrats need to allow more drilling.  The Democrats say oil companies need to drill on existing land and leases.  Why not compromise on this, folks?  Quickly, please.
• Fed heads up to the Hill.  Will Bernanke be walking on eggshells?  Fed chief Ben Bernanke faces a buzz-saw of criticism, derision and skepticism this week when he delivers his semi-annual testimony to Congress on Tuesday and Wednesday. ...  Bernanke will have to tread cautiously when he discusses the state of the economy and its financial markets. He needs to recognize the crisis exists, but he can't show too much concern.  And  you know there will be some stupid questions from Congress, who seem to use the occasion to spew political talking points and listen to themselves talk.  Set the DVR!
• You know, I don't get "texting."  People pay extra for this, when they could just use free email to do the same thing.
• No recession for Gilbert Arenas.  Gilbert Arenas signed his six-year, $111 million contract with the Washington Wizards on Sunday, securing the return of a franchise player who is accepting less money than he was offered.