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...from earlier in the morning, when his office had expressed doubts that they had the votes, even though Dems, who hold 58 seats right now, only need to produce a simple majority of 50. "We can all look back and talk about how the first $350 billion was not spent, but it's very clear that there's going to be a lot of money spent to help the housing industry," said Reid...

Author: /time Magazine | Title: Obama Urges Congress Not to Block the Bailout | 1/14/2009 | See Source »

...detailed manner, a letter explaining how his Administration would dole out the funds once he is sworn in on Jan. 20. "The conditions have to do with tracking the money, how the money can and can't be used, accountability for the money, what dividends cannot be spent with it, the executive pay issues," said Senator Carl Levin, a Michigan Democrat, emerging from the meeting. "In other words, there's a whole host of misuses of the first half which have to be avoided the second time around." The detailed letter, which may come from Obama's economic adviser Larry...

Author: /time Magazine | Title: Obama Urges Congress Not to Block the Bailout | 1/14/2009 | See Source »

Litt holds undergraduate and MBA degrees from Harvard. He spent three years as a legislative aide to the late Senator Daniel Patrick Moynihan of New York and then got a law degree at Columbia. He was a judicial clerk before becoming an associate at the law firm, Paul Weiss. He joined the U.S Attorney's office in D.C. in 1998. In that office, he handled a bunch of prostitution cases, many of which went to trial. "He is kind of a nerdy guy, so watching him question all of these prostitutes and John Does in court was kind of funny...

Author: /time Magazine | Title: The Man Who Will Prosecute the Bernard Madoff Case | 1/14/2009 | See Source »

...thing that will be very familiar to the new First Family is city life. Unlike every other President stretching all the way back to Theodore Roosevelt, Obama has spent his entire life living in urban areas. Some of his supporters believe this background makes him more culturally sophisticated than many of his predecessors (they're relieved he won't call the city "Warshington"), while others say it allows him to better understand multicultural, 21st century America. But the fact that Obama has spent weekends walking down the street to the barbershop instead of riding a 4x4 across a ranch...

Author: /time Magazine | Title: Obama's Other Breakthrough: A Big-City President | 1/13/2009 | See Source »

...Clinton has been preparing for both her job and her confirmation hearings with her usual intensity. She spent the better part of last month moving between her Senate offices, the presidential transition building on 6th Street and the State Department. In the cramming sessions at State, she was briefed by officials on U.S. diplomacy and foreign policy around the world, from Gaza to Moscow, and from Darfur to Beijing - which served the dual purpose of preparing her for the job and the hearings...

Author: /time Magazine | Title: Clinton's Senate Hearing Is First Diplomatic Test | 1/13/2009 | See Source »

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