Word: congression
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...They also have to face the prospect that people who are poor credit risks can run up tremendous sums on their cards, expose the lender to greater risk, and not have to pay a tenth of a percent in extra interest because they are increasingly likely to default. Congress uses perverse mathematics that no one else has to make certain that banks will write down more money on credit card losses. This gives the government the opportunity to lend the banks more out of the TARP fund...
...policy, which was worked out between Washington, state governments and the auto industry, will require automakers to meet a minimum fuel-efficiency standard of 35.5 miles a gallon by model year 2016 - four years earlier than Congress currently requires. Not only could the move potentially kick-start the sputtering U.S. auto industry, while saving the equivalent of some 1.8 billion barrels of oil, it also raises hopes that the Obama Administration will be able to forge a compromise on the tricky matter of a national cap on greenhouse-gas emissions. "It's an enormous breakthrough for national legislation," says Vickie...
...commenting, and there's always a chance that such a fragile coalition of politicians, greens and auto executives could collapse. But the very fact the White House brought - and kept - everyone at the table offers some hope as the much tougher battle over carbon cap and trade boils in Congress. "President Obama made the creation of a clean-energy economy a key aspect of his domestic agenda, and he's fulfilling that," says Weiss. It's a good start - but there's still a long road ahead...
...Iran, will Netanyahu oblige the Obama Administration on the Palestinian issue? Netanyahu will no doubt try the tactic used by previous Israeli Premiers, which is to stall, using the plausible excuse that Palestinians lack a coherent leadership. Netanyahu must also be wondering how hard Obama and a pro-Israel Congress will be willing to push its key regional ally. No doubt he will test Obama's determination. (See pictures of heartbreak in the Middle East...
...Market analysts attributed the brief but historic run to expectations among investors that the Congress Party's victory would bring political stability to India and give Singh's progressive administration a freer hand to pursue economic reforms in sectors such as insurance, retail and banking. Some analysts are already revising India's GDP growth and corporate earnings outlooks. Chetan Ahya, economist for Morgan Stanley Asia, upgraded his growth forecast for India this year from 4.4% to 5.8%. "The markets are enthused by the current political developments after 18 years of coalition governments," says Bharat Iyer, head of India research...