Word: capitols
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...Considering the mixed messages Capitol Hill sent on Thursday, that seemed the only appropriate approach. First, news spread midday that a group of bipartisan lawmakers had reached an agreement to provide Detroit with an infusion of $25 billion, with a victory press conference to be held at 2:30 p.m. Then, abruptly, House Speaker Nancy Pelosi and Senate majority leader Harry Reid cut the negotiators off at the pass by holding a hastily called press conference of their own in the same Senate room at 2:00 p.m. At that point, the Democratic leaders announced that they would not bring...
...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...
...Kicking the can down the road, however, isn't the kind of clarity Wall Street is looking for in these dire economic times. Coming a day after the Big Three CEOs' pleas on Capitol Hill dragged down the markets, Congress's muddled maneuvers on Thursday only made investors more anxious, pushing the Dow Jones down another 400-plus points and the broader S&P 500 index to an 11-year low. (See the Top 10 Dow Jones drops...
...United Auto Workers head Ron Gettelfinger - who also appeared on Capitol Hill on Wednesday but has so far escaped much of Congress's wrath despite his union's crippling labor deals - used a press conference on Thursday to bash what he said was the hypocrisy of certain Detroit opponents in Congress. Many of the same Senators and Representatives who vehemently object to giving any aid to carmakers, he claimed, come from states that have shelled out big bucks as incentive to lure foreign automakers to set up plants. "It just seems odd to us that we can offer incentives...
Nowhere but on Capitol Hill could a 69-year-old politician serving his 17th term be considered a Young Turk. But in challenging and unseating a committee chairman known as "the Truck," California Congressman Henry Waxman has succeeded in the kind of power sortie that happens only once every few decades in Congress - and put himself in a position where he will help determine the fate of much of Barack Obama's domestic agenda...