Word: congressed
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...three major car companies, which I think have a business plan that's doomed to fail," Senator Lindsey Graham, a South Carolina Republican, told Fox News Sunday, adding that Republican members are not wild about the Democrats' demand that the Big Three present their plans to Congress. "The idea that you would take three failed car companies, bring [a plan] to 535 members of Congress and let us pass judgment on it doesn't make a lot of sense to me. I don't know how to run a car company...
...part, has proposed using the $25 billion appropriated earlier this year in the energy bill to modernize the industry, a move opposed by Democrats as forcing Detroit to choose between its present and its future. Giving the automakers a second pass at convincing Congress does nothing to resolve this ideological disagreement. What it does do is give them a chance to repair their beaten-down image. In what became an infamous public-relations disaster, the executives flew in on private jets last month to beg for money. Then, in two hearings before the banking committees, the three appeared to blame...
...Obama's staffers aren't the only ones who recognize that the Executive Branch could have an easier team pulling off such a rescue operation. On Tuesday Pelosi, made it clear that the Bush Administration has the authority to act at any time without Congress, saying that "an intervention will happen either legislatively or from the Administration ... I think it's pretty clear that bankruptcy is not an option." Until now, President Bush has been unwilling to consider such an approach. But on Tuesday, the same day the automakers reported their worst month of sales in 26 years, the White...
...future of the Big Three companies rests in their ability to win over not just the lawmakers but also the public. As Congress was debating whether to bail out Wall Street, public opinion began to turn when folks lost half their 401(k) investments practically overnight. Though the failure of just one of the Big Three could have similar repercussions on the stock market, the public is not feeling the pressure just yet to support such a move. A recent USA Today/Gallup poll found that 47% of Americans believe that providing relief to the industry is not very important...
...These people feel fear, they feel anger," says Milind Deora, the young and energetic member of parliament from South Mumbai who has openly criticized senior figures in his own Congress Party for not better managing the crisis brought on by the terror attacks. "Now is the time for these feelings to be channeled into some positive direction," he says. But much of the frustration voiced by the crowd has been aimed at the entire political establishment. Viral Shah, a Mumbai college student, wore the same t-shirt that many others did; it read in deep red letters on the back...