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Despite reforms, Congress hides $3.5B in defense earmarks | Seattle Times

Time after time, Congress exploited loopholes or violated those rules, a Seattle Times investigation has found. An in-depth examination of the 2008 defense bill found $8.5 billion in earmarks. Of those, 40 percent - $3.5 billion - were hidden.

Fed Tries to Unclog Credit Markets With $900 Billion

The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe. The Fed's action is aimed at spurring spooked financial institutions, which are hoarding cash, to lend not only to each other but also to individuals and businesses.

Oregon Rep. DeFazio Injects Common Sense into Bailout Debate

Oregon Rep. DeFazio gets it: To put the sheer audacity of this bailout plan in perspective, a compromise has been talked about that reduces the initial payments to "only $250 billion". $250 billion would more than double our investment in bridges, highways, transit, and rail in the United States for five years. Investing in infrastructure creates jobs and stimulates the economy. For example, many economists have argued that directly helping mortgage holders save their houses would be astronomically cheaper and a more effective in resolving this crisis. And helping working Americans restructure their homer mortgage will increase the value of Wall Street's depreciated assets.

Protect yourself, your family and America

When your drug-sodden brother starts taking out loans and expects you to pay your remedy is to run a notice in the paper under LEGAL NOTICES. We have all seen them.

The time has come for all of us to do just that. Do it today. Protect yourself and let Congress, and the world, know we are not going to stand for it. Get on record.

Bailout Package Fails As Dow Plunges

Thankfully... In an extraordinary gamble on the future of the global economy, the House of Representatives voted down the $700 billion Wall Street bill 205-228, as Republicans defied their president, their presidential nominee and the congressional leadership to vote nearly two to one against the measure described as crucial to the prevention of an economic collapse.

Breakdown of the final bailout bill

Section-by-section breakdown of the "Emergency Economic Stabilization Act of 2008," otherwise known as the $700 billion Wall Street bailout bill. The 106-page bill established sweeping powers for Treasury Secretary Hank Paulson, and his successor, in carrying out what the bill calls the "Troubled Asset Relief Program," whose acronym is TARP.

The Mind-Boggling Trillion Dollar Bailout: A Q&A With Finance Writer Max Wolff

They are missing the size and profundity of what is happening. We are selecting our national priorities and committing our tax dollars -- for years -- right now. What is on offer to distressed homeowners, struggling college students, unemployed Americans, pension and 401K accounts hammered by what has already happened? What is being done to address the core mismatch that created this problem? People can't substitute loans for wages and savings! They still can't after this deal goes through! Until and unless we fix that problem, all solutions are temporary and we fix one problem by creating the next problem. By the way, the US Dollar is now the world's first currency backed by home mortgages!

On The Hill: Stephanie Tubbs Jones Remembered As 'Vibrant Presence'

Rep. Stephanie Tubbs Jones (D-Ohio), chairwoman of the House Ethics Committee, died today following an aneurysm. She was 58.

House Speaker Nancy Pelosi and other top Democrats remembered Tubbs Jones for her enthusiasm.

Doc: US Rep. Tubbs Jones in critical condition after aneurysm

Democratic U.S. Rep. Stephanie Tubbs Jones, the first black woman to represent Ohio in Congress, was hospitalized Wednesday after suffering an aneurysm, her spokeswoman said.

Top Foreign Affairs Dem Wants $1 Billion In Georgia Aid; Invasion Stalls Cooperation With Russia

Russia's invasion of neighboring Georgia could one of the "most significant events to occur in Europe since the end of communism," according to the chairman of the Senate Foreign Relations Committee and a potential Democratic vice-presidential candidate.

On The Hill: War Survivors Group Condemns Russia's Use Of Munitions

A Washington-based group that says it represents survivors of armed conflicts is condemning Russia's use of banned munitions in its war with neighboring Georgia.

Russia dropped cluster bombs on two towns in Georgia, killing at least 11 civilians and injuring dozens more, according to the group, known as Survivor Corps. More than 100 countries agreed to a ban on cluster munitions earlier this year because of the unacceptable harm they cause to civilians, the organization notes in an email.

On The Hill: On Eve Of National Energy Summit, Poll Finds Most Expect Congress To Sink Pickens Plan

Although a vast majority of Americans believe the comphensive and much-touted "Pickens Plan" for energy independence can succeed, they think Congress ultimately will kill it.

Energy Policy TV - Teleconference Preview of Clean Energy Summit

Senate Majority Leader Harry Reid (D-NV); T. Boone Pickens, Energy Executive, Author of Pickens Plan; Daniel Weiss, Senior Fellow and Director of Climate Strategy, Center for American Progress

Reid, Pickens, and Weiss speak with reporters to preview the bipartisan National Clean Energy Summit to be held at the University of Nevada, Las Vegas. Organizers want the Summit to produce energy recommendations to Congress as well as the 2008 presidential candidates.

On The Hill: Victorious On Platform, Progressive Dems Push Single-Payer Bill

Having won their fight to enshrine a "guaranteed health care for all" statement in the Democratic Party platform, a group of progressive Democrats are now pushing a bill in Congress to move to a single-payer health system.

On The Hill: Congressional Leaders Condemn Russian Invasion

While President Bush and the two men who would succeed him have taken the headlines in responding to Russia's week-old military operation in neighboring Georgia, top House Democrats and Republicans have added their voices to the criticism. Leaders from both parties released a rare joint statement condemning Russia's actions.