DeFazio, D- Ore., said the Formosa Mine, which is on federal and private land outside Riddle, illustrates what is wrong about the 1872 Mining Act: the Canadian companies that reopened the mine in the 1990 s have disappeared; the bond put up for cleanup was nowhere near enough to cover the true costs; and the federal government never got a penny in royalties.» Read More
Illinois Gov. Rod Blagojevich was arrested on criminal charges on Tuesday, including trying to sell the U.S. Senate seat being vacated by fellow Democrat President-elect Barack Obama, federal prosecutors said.
Whatever happens to the Detroit automobile companies, all three carmakers have told Congress they need to cut their dealer networks as a fundamental element of their survival plans.
Rep. Barney Frank discusses the auto bailout issue, while New York Attorney General Andrew Cuomo says a $10 million bonus for Merrill Lynch's John Thain is unjustified. Following are today's top videos:
Six weeks before taking office, President-elect Barack Obama can already boast one striking accomplishment: persuading partisan, ideological adversaries to see him in a less partisan, less ideological light.
The equity turn around Friday from disastrous employment numbers sends a signal to traders and investors that the markets had priced in that world coming to an end. For most Republicans, this happened in November.
Suppose you were going to buy a new car. With all things being equal — like price, performance, extra features — would you be willing to purchase a car made by a manufacturer that has filed for bankruptcy protection?
Having thrown trillions of dollars at Wall Street, the Fed and Treasury now appear ready to do the same for Main Street by proposing help for the housing market.
The Big Three CEOs returned to Washington to meet with the Senate Banking Committee today, as AT&T and other companies reported job cuts. Following are today's top videos:
The victory by Republican incumbent Saxby Chambliss in Georgia's Senate runoff removes all doubt — Barack Obama and the Democrats will not hold the 60 votes needed to overcome Senate filibusters when the new Congress convenes in January.
Chrysler Vice Chairman Jim Press reiterated the need for government aid to help support the auto industry as he travels to hearings in Washington, D.C.
At his news conference this morning, where he introduced New Mexico Gov. Bill Richardson as Commerce-secretary designate, President-elect Obama refused to play his hand on the Detroit/GM bailout story. That tells me he’s aware that the country is getting fed up with the thought of bailout nation.
The heads of the Fed and Treasury are signaling that they plan to take more steps to ease credit and jump-start the economy.
Senate Democrats were working Tuesday to put together legislation making it possible for Senator Hillary Rodham Clinton to become secretary of state despite a constitutional clause that some critics argue should bar her from joining the cabinet.
Chrysler's plan may be the most troubling, largely because it shows how much money the company needs right away. Chrysler wants $7 Billion by the end of the year. Chrysler's plan also talks about the "synergies" that would be derived from Chrysler being consolidated with another auto maker.
I have noted the weeping and gnashing of teeth that accompanied yesterday's downturn, and the widespread belief that we have not yet put in a convincing bottom.
President-elect Barack Obama named New Mexico Gov. Bill Richardson as his choice for Commerce Secretary Wednesday.
The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.
President-elect Obama pledged quick work on an economic recovery plan to include tax cuts and increased federal spending.
Individual states across the country are being hit by the recession and credit crisis. President-elect Barack Obama, Vice President-elect Joe Biden and other prominent political figures address the challenges facing individual states, as well as the country.
The Big Three will become two, Detroit will need more help from the government, SUVs will enjoy a modest rebound and electric cars will fire up the industry.
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