David Letterman might just have summed up last week when he said, “You heard it here first, ladies and gentlemen, this doesn’t smell right." Felix Gillette and John Koblin track the billion little pieces in our new A.D.D. news cycle. PLUS: Pumping McCain.

John Koblin looks at the last days of The New York Sun. "Staffers seemed in buoyant spirits, some even laughing."

Leon Neyfakh looks at Penguin's financial crash book buying spree and wonders "Is buying three books about Wall Street a good investment?"

Plus: Toby Young... The Mad Men of New Media... Paul Newman.

In the early morning hours of Wednesday, Sept. 24, The New York Times was printing its morning editions, including a front-page story reporting that Senator John McCain’s presidential campaign manager, Rick Davis, is a principal in a lobbying firm that had been receiving $15,000 a month since 2005 from embattled mortgage giant Freddie Mac.

But before those papers hit doorsteps, the McCain campaign had responded, via its Web site. Much of the morning news cycle was spent recycling the dispute: Had McCain lied? Had his campaign manager lied to him? Was the Times story flawed? And if it wasn’t, was it an example of ‘gotcha’ journalism both Mr.  read more »

We consider ourselves something of an amateur expert on David Letterman, as we've spent an hour a day with him, five times a week, for the past two decades. And so we knew already that the big guy had a lot of affection for Paul Newman (who didn't?). Newman appeared on the Letterman show often, and was always a stellar guest -- elegant, funny, and a great sparring partner for Mr. Letterman, who clearly got a huge kick out of the actor/race-car driver/humanitarian.

Last night, Mr. Letterman was clearly emotional as he talked about his friend and fellow car nut. He told a long and funny story involving the pair's shared geekdom over car engines (Newman apparently put a Porsche engine inside his VW Rabbit).  read more »

Also in the October/November issue of Radar, Ana Marie Cox interviews John McCain about his favorite TV shows. (Good two months for them!) Mr. McCain, who David Letterman excoriated last night for bailing on his show, said that he really likes the late night talk show host in the article which is currently not online.

As Mr. McCain told Ms. Cox:

One reason I like to go on those shows, particularly ones like Leno or Letterman, is that they help you reach a wide viewing audience that otherwise would not be paying attention to the political scene—people who would never be exposed to the Sunday-morning shows or other programs that politicians are traditionally on.  read more »

David Letterman's riff on McCain tonight isn't quite as cutting as you may have heard; sure it's a bit tough but the whole thing also reads as a reaction to his getting dissed for Katie Couric and a crater. Anyway perhaps the scolds will lighten up by the time this airs tonight; the events of today were almost too absurd to be funny, but David is pretty hysterical.

Former Life Magazine managing editor Bill Shapiro sent the above cover of the magazine from September 2004 (left) to Jim Romenesko's blog as a nod to Vice Presidential candidate Sarah Palin, whom many have noted resembles Tina Fey.

Media Mob was just struck by how similar Ms. Fey's pose is to the most recent cover of Rolling Stone (right), which features the 30 Rock star along with Chris Rock and David Letterman.

As we told you earlier in the week, on Tuesday, Brooklyn's most beloved indie band, the Hold Steady, released its new album, Stay Positive. And tonight, the band is the musical guest on the Late Show With David Letterman. Pitchfork reports that the Hold Steady will also star on in a taped segment on tonight's show: "Apparently, Letterman's crew followed the Hold Steady on the road for a few days earlier this year, and captured what it's like to be in 'America's Rock Band'. The segment is about five minutes long, and it will air tonight before Letterman's Top 10 List."  read more »

The Hills' notorious duo, Spencer Pratt and Heidi Montag, went on the Late Show with David Letterman Friday night to promote... Well, themselves. In the clip above, Mr. Pratt discloses his and Brody Jenner's evil plan to date the girls of The Hills that got him onto the show and tells Mr. Letterman that he now gets $100K for public appearances and reps the "future Jay-Z," who's currently 12-years-old.

Watch to see Mr. Pratt reduced to an uncharacteristic awkwardness as Mr. Letterman laughs as most of the things he says.

SOUTH BEND -- Barack Obama could probably use some levity, apparently.

Here's a Daily Show correspondent taping segments with some more traditional correspondents at an event here.

Also, tonight the candidate will read a top 10 list on David Letterman (a native Hoosier!).

Here it is, as released by the campaign:  read more »

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