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Congress examines whether more changes are needed in $700 billion bailout program
Issue date: 11/14/08 Section: News
WASHINGTON (AP) - While the Bush administration shifts course on its $700 billion rescue plan, Congress is examining whether even bigger changes should be made in the program in light of the deteriorating economy and soaring mortgage foreclosures.
The debate may not be resolved until President-elect Barack Obama takes office on Jan. 20 and pursues policies for administering the rescue program that are likely to be more closely aligned with his Democratic allies in Congress.
In anticipation of the change of administrations, Democrats were holding hearings in both the House and Senate on Thursday examining various aspects of the most serious financial crisis to hit the country in 70 years.
The House Oversight Committee was examining the role that hedge funds may have played in recent market turbulence. Among those scheduled to testify was billionaire investor George Soros, chairman of Soros Fund Management.
Palin, already hinting at 2012 run, to tell GOP governors her views on the party's future
MIAMI (AP) - Alaska Gov. Sarah Palin is sending signals that she is open to running for president in 2012, but another potential candidate is sending a different message: Republicans can't get ahead of themselves.
Palin, this year's Republican vice presidential nominee, is going to talk to Republican governors Thursday in a panel discussion called "Looking Towards the Future: The GOP in Transition." She's already making it clear that she wants to be a big part of that transition.
She was asked Wednesday, after arriving at the Republican Governors Association conference, about speculation that she is the party's future.
"I don't think it's me personally, I think it's what I represent," Palin told reporters. "Everyday hardworking American families - a woman on the ticket perhaps represents that. It would be good for the ticket. It would be good for the party. I would be happy to get to do whatever is asked of me to help progress this nation."
The debate may not be resolved until President-elect Barack Obama takes office on Jan. 20 and pursues policies for administering the rescue program that are likely to be more closely aligned with his Democratic allies in Congress.
In anticipation of the change of administrations, Democrats were holding hearings in both the House and Senate on Thursday examining various aspects of the most serious financial crisis to hit the country in 70 years.
The House Oversight Committee was examining the role that hedge funds may have played in recent market turbulence. Among those scheduled to testify was billionaire investor George Soros, chairman of Soros Fund Management.
Palin, already hinting at 2012 run, to tell GOP governors her views on the party's future
MIAMI (AP) - Alaska Gov. Sarah Palin is sending signals that she is open to running for president in 2012, but another potential candidate is sending a different message: Republicans can't get ahead of themselves.
Palin, this year's Republican vice presidential nominee, is going to talk to Republican governors Thursday in a panel discussion called "Looking Towards the Future: The GOP in Transition." She's already making it clear that she wants to be a big part of that transition.
She was asked Wednesday, after arriving at the Republican Governors Association conference, about speculation that she is the party's future.
"I don't think it's me personally, I think it's what I represent," Palin told reporters. "Everyday hardworking American families - a woman on the ticket perhaps represents that. It would be good for the ticket. It would be good for the party. I would be happy to get to do whatever is asked of me to help progress this nation."
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