Word: congression
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Last fall, soon after Congress decided it would spend $700 billion to shore up the nation's flailing financial system, about 100 shareholders of Reunion Bank of Florida gathered for a party. Over crab fondue and London broil, they toasted the start of their spanking new bank. It had been decades since a locally grown bank had opened in Tavares, an old citrus hub about an hour by car from Orlando. "We had folks drive from 45 miles away," recalls Reunion co-founder and CEO Mike Sleaford. "Everyone was so excited...
...calls immediately. People who had pledged to invest half a million dollars were dialing back to $200,000. Those who had been offering $200,000 were opting out altogether. Throughout the fall, the hits kept coming. Washington Mutual collapsed. Wachovia was sold off. Treasury Secretary Hank Paulson went before Congress begging for money, looking as if he'd seen a ghost. "It got to the point where I didn't want to pick up the paper or turn on the TV," says LaRoe. "The mantra I kept singing was 'This is perfect, guys. This is perfect. The banks...
...99—who wrote, produced, directed and co-edited the documentary—became fascinated by Mink after the former Hawaii Congresswoman’s death in 2002. Bassford discovered then that Mink had not only been the first woman of color in the U.S. Congress but had also co-authored Title IX, the landmark amendment that banned gender discrimination in federally-funded education and sports programs. “It was a great way to look at history differently through the eyes of an Asian-American woman,” Bassford says. Drawing upon hundreds of photos...
...further crippled the economy. The war-on-wealth rhetoric (Obama talks about punishing companies that send jobs overseas; Vice President Joe Biden said he wanted to throw CEOs "in the brig"; Senator Claire McCaskill referred to CEOs as "idiots") and policies of this Administration and the Democratic Congress are making it difficult to stabilize the stock market and much harder to get successful people to invest in American jobs...
...Gerald Curtis, professor of politics at Columbia University, who has studied and written about Japan for many years, recognizes that the DPJ wants to strengthen the safety net, but wonders if it has the determination to launch the sort of stimulus package that Barack Obama got through the U.S. Congress in a matter of weeks. Ozawa can come across as all politics, "his own Karl Rove," as Curtis puts it, rather than one who thinks through policies carefully...