US lawmakers agreed a 700-billion-dollar bailout for debt-stricken Wall Street banks and sent the legislation aiming to stem the US financial crisis for Congress to start voting on Monday.
A compromise package, unveiled Sunday after tense negotiations between rival party leaders and White House officials, will go first before the House of Representatives.
The plan, anxiously awaited by world markets, is not yet certain to be approved however.Read More
US Treasury Secretary Henry Paulson and leading lawmakers early Sunday reported "great progress toward" reaching an unprecedented 700-billion-dollar Wall Street bailout plan before markets reopen, saying the accord would likely be finalized later in the day.Read More
So, folks, here we are on the brink of financial disaster caused by incredible mismanagement from the titans of Wall Street. What do we get from the titans of Washington?
We get a lot of yelling, finger-pointing, mind-changing, politicking, game-playing and a plan to make the taxpayers pick up the tab for over a trillion dollars, counting the Bush administration plan for buying up bad mortgages, shoring up failing financial institutions and bailouts for AIG, Bear Stearns, Fannie Mae and Freddie Mac.Read More
In congressional parlance, a continuing resolution is usually described as a stopgap funding measure allowing the government to continue functioning while Congress catches up on its required financial paperwork.Read More
Congress promised quick action on a plan to buy up toxic assets, such as bad mortgages, held by troubled banks and other institutions, hoping to lift the nation out of its worst financial crisis in decades.Read More
The House Ways and Means Committee, which has the exclusive power to write our tax laws, is one of the most powerful committees in Congress and its chairman is, e officio, one of that body's most powerful lawmakers.Read More
Rep. Mac Thornberry doesn't tweet on Twitter, or anywhere else probably.
But he recently sounded off on the right of other U.S. House members to post updates -- tweets -- up to 140 characters on the microblogging site, even if he doesn't.Read More
The 110th Congress is close to becoming the most deadly term for lawmakers in the past 20 years.
The death of Rep. Stephanie Tubbs Jones, D-Ohio, who died Wednesday of a brain aneurysm, brings to eight the number of legislators who have died since the current Congress began in January 2007.Read More
As top Democrats address their national convention in Denver, they will propose "ending" Operation Iraqi Freedom, demand a speedy withdrawal of U.S. forces there, and insist that "Bush lied, and people died."Read More
Democratic U.S. Rep. Stephanie Tubbs Jones, the first black woman to represent Ohio in Congress and a strong critic of the Iraq war, died Wednesday after a brain hemorrhage, a hospital spokeswoman said.Read More