Word: plan
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While Harry Reid, Nancy Pelosi and other congressional Democrats mull an auto-industry bailout plan, it's worth recalling a pair of Republican legislators from the past. One of the most derided pieces of 20th century economic policy was introduced by Senator Reed Smoot of Utah and Representative Willis C. Hawley of Oregon. Signed into law on June 17, 1930, the notorious Smoot-Hawley Act jacked up U.S. tariffs on more than 20,000 imported goods, sparking a global trade war that deepened the Great Depression at home and spread it abroad...
...plunging consumer demand - new-car sales across Europe dropped 14.5% in October - France's two major automakers, Renault and Peugeot-Citroen, have temporarily shut down production at several plants. Peugeot is expected to present a plan Tuesday to cut 2,700 jobs. In Germany, Chancellor Angela Merkel has been more cautious in response to the crisis, and warned against precipitate state intervention. Still, Berlin is expected to approve up to $1.26 billion in loan guarantees for Opel if parent company GM goes under...
...announcing that its delegation of more than 150 political and business leaders would stay at home because, in the words of China's Foreign Ministry spokesman Qin Gang, "the summit cannot be held in a sound atmosphere, nor can it achieve expected goals." The reason? The French President's plan to meet with Tibetan spiritual leader Dalai Lama on December 6 as part of an event honoring fellow Nobel peace prize winner Solidarity leader Lech Walesa in Poland.(See pictures of the Dalai Lama's decades of spiritual leadership...
...Bruni and Foreign Affairs Minister Bernard Kouchner instead. By the time the day of the meeting rolled around, the French press was reporting that the Dalai Lama had become so disgusted at Sarkozy's cave-in that the Tibetan leader feigned an illness to avoid having to greet the Plan B delegation. (In vain: he wound up hosting Bruni and Kouchner at the inauguration of a Buddhist temple in the south of France...
...America needs to deliver a Marshall Plan to the Arab world - not in the form of money to rebuild war-torn cities but in the form of ideas to rebuild violence-torn minds. We have no alternative. In my yard there are stubborn patches of crabgrass. It's tempting to take a weed whacker and chop them down, but the crabgrass comes back twice as strong unless you get at its roots...