Word: thursdaying
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Unlike the hearings last month, though, when Congress presented a nearly united, hostile front against the Big Three, the fight Thursday was not so much over whether Washington should let them fail; almost all the witnesses and lawmakers agreed that would be like "playing Russian roulette with the economy," as Senate Banking Committee Chairman Chris Dodd put it. But that didn't mean there was anything like a consensus on how to handle the urgent request for a total of $34 billion in bridge loans - $7 billion for Chrysler, $9 billion for Ford and $18 billion for GM. Democrats...
...deal in a lame-duck session particularly difficult. Other options Democrats are exploring include asking the Federal Reserve to supply the loans or requiring the banks that the government is currently bailing out to loan the money to the Big Three. As an alternative, Utah Senator Bob Bennett suggested Thursday that those banks getting money from the Treasury be required to convert any carmaker debt that they hold into equity, thereby easing the Big Three's cash crunch...
...Chairman, I don't want to make light of this," Shelby tersely replied, citing a CNN poll released Thursday that showed 60% of Americans are opposed to bailing out the automakers...
McGovern also said that the online survey will remain accessible, but only for a limited time, because the consultants need to present their findings to the committee next Thursday, when the members will decide whether or not to approve the leadership profile they recommend...
...Secretary of State Condoleezza Rice landed in Islamabad on Thursday walking a diplomatic tightrope. She had just been in India and knew that New Delhi wanted Washington's help in getting Pakistan to crack down on groups implicated in last week's terrorist attack on Mumbai. But she also knew that such a crackdown would be unpopular in Pakistan and could very well destabilize its weak civilian government. How then to mollify India's saber-rattling public while getting Pakistan's officials to act against their own interest? The two nuclear-powered nations of the subcontinent have been...