AP: Barack Obama is heading to Capitol Hill to push for quick action on a broad economic stimulus package congressional leaders are saying won’t be ready until mid-February at the earliest. That’s almost a month later than the president-elect wanted.
AP: Minnesota voters won’t know who won the state’s U.S. Senate race this year, and it’s looking more likely that the new Congress will be sworn in before the race ends between Democrat Al Franken and Republican incumbent Norm Coleman.
Reuters: Speaking at a banking congress German President and former IMF President Horst Koehler said profits caused banks to turn a blind eye or knowingly ignore risks.
Visit msnbc.com for Breaking News, World News, and News about the Economy AP: Citing danger to the national economy, the Bush administration came to the rescue of the U.S. auto industry Friday, offering $17.4 billion in emergency loans in exchange
AP: Majority Democrats and the Bush White House have finalized a deal to spend $15 billion on emergency loans for struggling U.S. automakers, congressional officials said Wednesday. Among some Republican lawmakers, stiff opposition lingered.
Executives from the beleaguered U.S. auto industry are driving into the nation’s capital with their hands out for $34 billion in government aid. General Motors is looking for $18 billion in government loans and credit loans, Ford wants $9 billion,
CBS News: Detroit’s automakers, making a second bid for $25 billion in funding, are presenting Congress with plans Tuesday to restructure their ailing companies and provide assurances that the funding will help them survive and thrive. General Motors Corp., Ford
AP: President-elect Barack Obama pledged Monday to honor the commitments the outgoing Bush administration has made to rescue financial markets and urged the new, incoming Congress to pass a major stimulus package “right away” to restore growth and create jobs.
AP: Democratic leaders in Congress have put off a vote on bailing out the auto industry until next month, and want the top companies to present a plan showing the money will make them financially viable.
ABC News: All three CEOs – Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler – exercised their perks Tuesday by flying in corporate jets to DC. Wagoner flew in GM’s $36 million luxury aircraft to
In his opening statement in front of Congress, Treasury Secretary Henry Paulson says the first installment of the bailout money — $350 billion — “simply isn’t enough firepower†to buy toxic debt.
Sen. Ted Kennedy (D-Massachusetts), who underwent treatment for a brain tumor, returns to the U.S. Senate for a lame-duck session of Congress.
AP: With Congress returning Monday to deal with an auto industry in dire financial straits, the Bush White House stressed that it supports help, but not at the expense of the $700 billion Wall Street rescue program.
Democratics on Capitol Hill are pressing for quick passage of an auto bailout bill when Congress reconvenes next week. The money would come from the huge Wall Street rescue bill that Congress approved last month.
CBS News: Last month, Congress approved $25 billion in low-interest loans for domestic automakers and suppliers to retool plants to build fuel efficient vehicles. But congressional allies of the industry have said the money will not be available fast enough
After saying she is “very concerned that he [Obama] may have anti-American views,†Congresswoman Michelle Bachmann (R-Minn.) went on to say that “the news media should do a penetrating expose and take a look — I wish they would —
AP: Democrat Barack Obama returned to Capitol Hill, calling on Congress to pass a $700 billion rescue bill for the financial sector. Obama, who started the day in Wisconsin, broke off the campaign trail to return to Washington and vote
AP: Republican presidential nominee John McCain said ‘Congress once again came up empty handed.’ The comment comes a day after the House rejected a massive rescue plan for the nation’s economy.
Embedded video from CNN Video CNN: Chaos erupted on Thursday in the negotiations over the proposed financial bailout as lawmakers bickered over competing counterproposals to the Bush administration’s $700 billion rescue plan. A meeting at the White House between President
AP: President Bush brought the two men fighting to succeed him to a historic White House huddle on how to sell a deal to lawmakers who were still resisting.
AP: Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in a months-long battle with the White House and Republicans set off by $4 a
WCCO: With Hurricane Gustav spinning toward landfall, lobbyists, corporations and industry groups scrambled to put a solemn face on their glitzy GOP convention parties and still revel with big donors, delegates and members of Congress.
AP: President Bush once again called on congress to allow oil companies to drill for oil, in the outer continental shelf. Mr. Bush called on House speaker Nancy Pelosi, to take a vote on a bill that he says will
UPI: Sheehan, known for her protests outside President George Bush’s ranch in Texas, said she’s collected enough signatures to appear on the ballot as an independent candidate for Congress, the San Francisco Chronicle reported.
Sen. John McCain said he would leave the campaign trial to return to Washington, and challenged Barack Obama to do the same.
