Word: thursdaying
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Senate Republicans and Democrats have been able to agree on precious little in the heated debate on whether to bail out the nation's beleaguered automakers. But in failing to reach a bipartisan compromise after marathon talks on Thursday, they effectively handed the hot-button issue to the person they believe should have dealt with it in the first place: President George W. Bush. And in a statement on Friday morning, the Administration said it would consider using the bank bailout money already approved by Congress to rescue the auto industry...
...dread looking at Wall Street tomorrow. It's not going to be a pleasant sight," Senate majority leader Harry Reid said with a twisted smile, both hands gripping the top of the lectern on the Senate floor late Thursday evening, before a compromise plan passed by the House on Wednesday went down to predictable defeat on the Senate floor by a vote of 52 to 35 (failing to meet the 60-vote threshold to cut off a filibuster). The last time Congress failed to pass a bailout plan that most had assumed was a done deal, the Dow Jones industrial...
...while on Thursday, however, it looked like it might not come to that. After steadfastly refusing to negotiate in the beginning of the week on a plan they believed wouldn't force the Big Three to seriously restructure, Senate Republicans, led by Bob Corker of Tennessee, engaged in a marathon session of talks. By late in the day, it seemed like they might be amenable to a plan that would involve the automakers slashing their debt by March 31 and forcing the United Autoworkers Union to accept wage cuts that would put them on par with employees of foreign automakers...
Bernard Madoff, the former Nasdaq chairman who was charged on Thursday with massive fraud, was long considered to be quirky. Employees at the offices of his eponymously named brokerage firm in midtown Manhattan's Lipstick Building had to follow strict rules for what they kept on their desk. Family photos were allowed but only if they were displayed in a simple black frame...
...There is, however, one event during the two-day summit that is on the record. That took place on Thursday night, when several hundred students, scholars and scribblers burst into applause as the minds behind the John McCain and Barack Obama campaigns took the stage for a conversation provocatively titled "War Stories: Inside Campaign 2008." (See behind-the-scenes pictures from Super Tuesday...