Word: auto
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...Representative Jeb Hensarling, a Republican from Texas, said he thought the Treasury Department had overstepped its authority when it used TARP funds to help the auto companies. Richard Neiman, who is the superintendent of the New York State Banking Department, said it looked like the administration was unlikely to meet its goal of modifying as many as 3 million mortgages...
...more unusual exchanges, Hensarling wanted to know if Geithner thought the auto companies were banks. Geithner said under the definitions of TARP, he would call auto manufactures banks. "So would you call AT&T and American Airlines banks?" Hensarling asked. Geithner said no, and then clarified that at least at this moment he would not call AT&T or American Airlines banks. When asked about AIG, Geithner said the government didn't legally have the option to pay less than 100 cents on the dollar to its counterparties. In the past year, many people have criticized Geithner and former secretary...
...were pulled off the shelves and prominently displayed for shoppers. Those stacks both crowded the aisles and cut off sight lines. Now, the aisles are all clear, and you can see most sections of the store from any vantage point. For example, standing on the corner intersection of the auto-care and crafts areas, you can look straight ahead and see where shoes, pet care, groceries, the pharmacy and other areas are located. And the discount price tags are still at eye level, so the value message doesn't get lost. (See how Americans are spending...
REBATE $3,500-$4,500 per auto...
...been great for free trade. As unemployment has risen throughout the world, governments have become more focused on protecting their own industries than on promoting international commerce. The U.S., typically an enthusiastic supporter of open markets, included "buy American" clauses in its stimulus package and propped up its flailing auto industry with handouts. Although a meeting of ministers in New Delhi in early September promised to restart long-stalled World Trade Organization negotiations aimed at reaching a global consensus on freer trade, wide differences remain between developed and developing nations that make a final deal difficult...