Word: pelosi
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Reid and House Speaker Nancy Pelosi have long wanted to see the money come from the $700 billion bank bailout fund, known as the Troubled Asset Relief Program, or TARP, and have argued against taking money from the modernization fund. Pelosi relented only after Friday's job report - the worst in 34 years, showing that the economy shed more than 533,000 jobs last month. But, having made this concession, Dems said they were unlikely to yield more ground. "This is a bad choice that we have to make. We should be able to use TARP money. The White House...
...Pelosi was careful to underline that she expects the full $15 billion to be repaid by the end of March, meaning the car companies will either be forced to go it alone after that or, more likely, the Obama Administration will replace the $15 billion - plus the additional funds the car companies say they need - with money from the TARP, the Treasury or the Federal Reserve. In fact, the bill has language specifically authorizing the President to take money from the TARP, a provision the Bush Administration - which has steadfastly opposed using such funds for the automakers - has presumably chosen...
...preserving a lucrative tax loophole that benefited an oil-drilling company whose chief executive had pledged $1 million to a school of public service named for Rangel at City College of New York (CCNY). Now the doubts surrounding Rangel have grown to the point that House Speaker Nancy Pelosi is worried they will linger past Barack Obama's inauguration and into the dawn of the new Democratic era. She issued a statement the day before Thanksgiving saying she expects the House Ethics Committee to complete its initial inquiry into Rangel - an investigation that the chairman called for himself...
...approved to keep Detroit going until the end of March, there is still disagreement over many details. Republicans want to take the money from a $25 billion modernization fund set up earlier this year, but environmentalists are adamantly opposed to such a move. And as House Speaker Nancy Pelosi's office pointed out, the companies factored in using at least $21 billion of those funds to get back on their feet in plans they submitted Tuesday to Congress...
...Friday, lawmakers on the House Banking Committee will get their second round with the Big Three. And if the hours of grilling in the Senate seemed tough, they are sure to face much more skepticism from the lower chamber of Congress. Senate Majority Leader Harry Reid and Pelosi have said that if both committees approve of Detroit's recovery plans, they will call Congress back into session next week to pass a bill. Of all the compromises open to lawmakers, one thing is nearly certain: the bigger and more complicated the plan, the less likely it is to pass...