Word: bailouts
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...Kashkari a chump?' REPRESENTATIVE ELIJAH CUMMINGS, questioning Neel Kashkari, manager of the Treasury Department's $700 billion rescue plan, after bailout recipient AIG spent $503 million on executive bonuses...
...when Congress passed the bailout bill this fall, it added a 30% tax credit for small-wind projects, which Stimmel believes will enable the industry to grow 40% next year, even in a down market...
...that they won't need to come back and ask for more money. The two committees will hold hearings to vet the plans. If the plans are approved, Reid and Pelosi say they are willing to reconvene both chambers of Congress the week of Dec. 8 to pass a bailout. "Yes, we're kicking the can down the road, because that will give us the opportunity to do something positive. But that will only happen if they get their act together," Reid told reporters on Capitol Hill on Thursday...
...lawmakers, showing signs of bailout fatigue after the $700 billion financial-crisis package passed in September, have been left largely unimpressed by Detroit's cries for help. All week long, Senators and Representatives from both parties have lamented the decades of bad management that have put the auto industry in its current predicament: investing in SUVs when the rest of the world, eyeing the future oil crunch, was betting on smaller, more fuel-efficient cars; spending millions lobbying Congress to avoid regulation that would force tougher environmental standards; and giving its union unsustainably generous deals on salary and benefits that...
...billion from a fund approved earlier this year to help the auto industry develop more fuel-efficient cars; that notion had actually been pushed by Republicans earlier in the week, but until Thursday, Democrats had contended that the money should instead come from the $700 billion financial-bailout fund. The deal would include strict limits on golden parachutes for executives and a timeline to pay back Congress. The Commerce Department would have to approve the applicants after judging them to be capable of repaying the loans. "I am encouraged that the leaders are now taking this issue on and that...