Word: loan
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...address the grievances of the Palestinians. Russia will not expect to hear a lot of moaning from Americans about its behavior in Chechnya. Pakistan will expect some economic relief for its battered economy. (And Pakistan will get it; sources tell TIME that Japan has already offered cash and loan guarantees to Islamabad.) George Bush's war will be one of strange bedfellows...
...fact, this might be the perfect opportunity for Congress to show real leadership and improve the competitiveness of the airline industry. Let's say Congress approves loans to the airline industry, but caps CEO pay at $150,000 until the loan is paid back. Or applies restrictions to some of the enormous pay packets that pilots at United and Delta just received. The question is, if the US taxpayer is going to bail the airline industry out, what not put some reasonable limitations on what the money can be used...
...thought of this as I watched the airline executives come to Congress to ask for a massive infusion of cash, which they got Thursday ($5 billion in emergency cash and $10 billion in loan guarantees). They should get help for the unforeseen harm that's hit them. But this is a corporate CEO bailout as well. The airlines were in deep trouble before Sept. 11. US Airways was so rickety that its chairman had recently sought to save himself with a merger with United Airlines. This week, he announced that 11,000 employees would lose their jobs, without...
...industry is asking for a $24 billion bailout, Chrysler-style, with some money up front and the rest in a longer-term package loan guarantees, with the federal government co-signing to keep interest rates less than usurious. Congress is thinking more like $18 billion...
...Bush making it all but official - "we?re at war" - Republican senators Mitch McConnell and Conrad Burns introduced legislation Friday to direct the Department of the Treasury to issue War Bonds for the first time since WWII. Paul O?Neill would set the terms - U.S. citizens would make the loan...