Business & Economy
Associated Press/Photo by Gerald Herbert

'Show us the plan'

Economy | And Congress may then decide to show the auto industry the money when it reconvenes in December
by Emily Belz
Posted 11/20/08, 12:00 am

WASHINGTON-A $25 billion bailout for the auto industry fell flat Thursday when Senate and House leadership decided to postpone the legislation. Lawmakers demanded that the auto chiefs present more specific plans on how they would use the money to the House and Senate banking committees by Dec. 2. Congress plans to reconvene Dec. 8 to reconsider the legislation.

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Guns and butter

Economy
by Alex Tokarev
Posted 11/18/08, 04:14 pm

Socialists of all parties have at least two good reasons to celebrate these days. First came the news from Sweden that Paul Krugman, a champion against free market capitalism, won the Nobel for economics. Then Barack Obama received a mandate to change in a radical way the rotten philosophical, political, and economic fundamentals of America.

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Associated Press/Photo by Gerald Herbert

At the dealer

Economy | Automakers seek taxpayer money to avoid failure in the coming months
by Emily Belz
Posted 11/18/08, 12:00 am

WASHINGTON-Detroit's Big Three automakers pleaded with Congress on Tuesday for a $25 billion lifeline to save their once-proud companies from collapse, warning of broader peril for the national economy as well.

Facing the Senate Banking Committee, the leaders of General Motors, Ford, and Chrysler presented the dire economic outcome of their failure, even as the $25 billion legislation, which would dip into the $700 billion bailout, looked doomed in Congress due to opposition from Republicans and President Bush.

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