The Morning Read: Tuesday, September 16, 2008

David Paterson said the state will take a $1 billion hit while Michael Bloomberg said the city will be fine.

An unnamed source tells the New York Post that Nancy Pelosi urged Charlie Rangel in a private meeting to give up the chairmanship of the House Ways and Means Committee.

An unnamed source tells the Daily News Pelosi is unlikely to push Rangel aside.

“You’re damn right he’s still the chairman,” a colleague of Rangel’s said.

After being criticized for saying the country’s economic “fundamentals” are strong, John McCain’s camp noted that Michael Bloomberg agreed with that assessment.

If Paterson called legislators back to Albany now, it could “disrupt” the campaign season, says Rick Karlin.

Mike Barbaro recounts Bloomberg’s preparation for yesterday’s upbeat press conference.

The person helping protect A.I.G. right now is Eric DiNallo, the state’s insurance superintendent who, while working for Eliot Spitzer, had a different attitude towards the company.

Russell Berman says that we should keep an eye on automakers.

E.J. McMahon writes that while “the economic situation doesn't live up to Gov. Paterson's assessment of ‘the worst since the Great Depression,’ it's plenty bad enough.”

Marty Markowitz steered money to a non-profit he controls by breaking up checks into small amounts just below the limit required for public bidding.

Bill Hammond explains how the scandal-scarred Pedro Espada is pretty influential in Albany.

Andrew Cuomo and others are skipping this private meeting of Democratic Attorneys General.

On election night, Marty Connor said of new voters in his district, "They have a different way of seeing the world."

Lew Fidler, John Liu and others gave recommendations to the Ravitch Commission on financing the MTA.

Brendan Scott reads the poll showing John McCain only five percentage points behind Barack Obama in New York.

Bob Kappstatter says there’s no media conspiracy in the Bronx [last item].

City Hall News advocates shortening terms in city offices to just two years, but keeping the term-limits cap at eight consecutive years.

Enhanced driver’s licenses are available.

Former Newark mayor Sharpe James is in jail.

In court, it’s Bloomberg versus Bob Barr.

Joel Klein grades his press aides.

City Hall News’ Forty Under Forty list is out: Hillary Clinton's deputy state director likes the song "Smooth Operator" and Chuck Schumer's spokesman prefers "Thunder Road."