Word: congression
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...preparing to go through another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and supplier price cuts, to prove to Congress that it can operate at break-even. That would give it additional government funds to keep it afloat while it restructures. To reach part of its goal, the company is offering incentives which it believes will get 10,000 union members off its payroll. Bloomberg has reported that it may fire another 5,000 white collar workers...
...Tuesday, Treasury Secretary Timothy Geithner is expected to announce the administration's plans for the second half of the $700 billion bank bailout approved by Congress last fall. The centerpiece is likely to be a government-backed aggregator bank (the much-discussed "bad bank"), which will provide financing and loss protection for investors willing to buy the troubled assets sitting on bank balance sheets. Those delinquent loans, or the bonds tied to them, are dragging down the financial firms' value, putting some dangerously close to insolvency...
...agree with me—and that’s precisely the point,” said Obama, according to his transcribed remarks. Feldstein also serves as a director of American International Group, an international insurance company which received billions in government funding from the TARP bailout approved by Congress last summer. —Staff writer Elyssa A. L. Spitzer can be reached at spitzer@fas.harvard.edu. —Staff writer Noah S. Rayman can be reached at nrayman@fas.harvard.edu...
...base from the start - and never budged. (Both men were re-elected; Clinton by moving to the middle; Bush by refusing to do so.) I doubt either man would repeat their strategy if they could do it all over again. While there aren't many centrist votes in Congress to build anything around anymore, there are legislative proposals that moderate voters will appreciate...
...Meantime, one more thing: it's been noted widely that, even with a sketchy start, Obama is still far ahead of the game here, having won from both houses of Congress the makings of a massive stimulus measure in record time...