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WASHINGTON (AP) -- While President-elect Barack Obama publicly sidelined himself during congressional debate over an auto industry bailout this week, he and his top aides quietly prodded congressional leaders to find a solution to rescue struggling automakers. Obama personally talked to congressional leaders, while his new chief of staff, Rahm Emanuel, and congressional liaison, Phil Schiliro, were routinely dialed into conference calls to discuss the status of negotiations....
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WASHINGTON -- Even while publicly sidelining himself, President-elect Barack Obama was active behind the scenes during congressional debate this past week over an auto industry bailout.
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Dec. 9 - Lawmakers continued to negotiate a draft plan for a $15B rescue package for the auto industry.
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The Bush administration and G.M. and Chrysler are said to be negotiating terms of an overhaul plan.
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CHICAGO (Reuters) - U.S. President-elect Barack Obama offered embattled U.S. automakers a promise and a threat on Friday, saying he hoped to create more autoworker jobs but only if carmakers do not squander the opportunity to reform.
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CHICAGO (Reuters) - President-elect Barack Obama offered embattled U.S. automakers a promise and a warning on Friday, saying he hoped to create more autoworker jobs but only if carmakers do not squander the opportunity to reform.
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The president gives automakers new life and should give an Obama stimulus plan more teeth. That's bullish for stocks. Oil drops below $34. Tech and telecom stocks rise on Research In Motion's bullish outlook.
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GEORGETOWN, Ohio (Reuters) - U.S. Democratic presidential candidate Barack Obama urged the Treasury Department to move quickly to carry out a rescue plan for financial markets, after U.S. stocks suffered a nearly 700-point decline on Thursday.
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The Senator releases a statement after Thursday’s devastating Wall Street decline: “…It is critical that the Treasury Department move as quickly possible to implement the rescue plan that passed Congress so that we can ease this credit crisis.” Adds: “Now is not the time for fear or panic….” Read the full statement here.
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TOLEDO, Ohio (Reuters) - Democratic presidential candidate Barack Obama will give a "major" speech outlining his economic rescue plan at 1:30 p.m. EDT on Monday, his campaign said.
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I've been reading the speech Barack Obama made on the economy this afternoon, plus his new Rescue Plan for the Middle Class. The speech ends with an eloquent farewell to the age of easy money: We’ve lived through an era of easy money, in which we were allowed and even encouraged to spend without limits; to borrow instead of save. Now, I know that in an age of declining wages and skyrocketing costs, for many folks this was not a choice but a necessity. People have been forced to turn to credit cards and home equity loans to keep up, just like our government has borrowed from China and other creditors to help pay its bills. But we now know how dangerous that can be. Once we get past the present emergency, which requires immediate new investments, we have to break that cycle of debt. Our long-term future requires that we do what’s necessary to scale down our deficits, grow wages and encourage personal savings again. Well said. If President Bush had said something like that in September 2001, instead of tell ...
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Jake Tapper reports on Barack Obama's rescue plan for the middle class.
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Obama talks business as polls put him in front
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OREGON, Ohio/WASHINGTON (Reuters) - Democrat Barack Obama said on Tuesday that as president he would demand that up to $25 billion in government loans targeted for distressed U.S. automakers be distributed quickly.
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by John McCormick TOLEDO, Ohio -- Meeting briefly with reporters this afternoon, Sen. Barack Obama was asked about past and present relationships with ACORN, the non-profit organization that has come under Republican attack for voter registration irregularities. "First of all,...
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Whether under Barack Obama or John McCain, the next US administration will pursue negotiations with Iran, North Korea and other regimes Washington doesn't like, analysts predict. To be sure, they say, Obama may be more willing to talk than McCain.
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In Full: Senator Barack Obama talked to Harry Smith about the campaign, also he gave Harry a critique and an endorsement of "Red State Blue State Blues," Harry's country hit song.
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WASHINGTON -- Barack Obama's presidential campaign said Friday the federal government should act swiftly to help unlock credit for the financing of car loans crucial to U.S. automakers.
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William Ayers, the former 1960s radical whose connection to Barack Obama has been decried by John McCain, appeared at a forum in New York on Sunday.
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Sen. Barack Obama returns to familiar themes in final full week of campaigning. Candy Crowley reports
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Questioned by Jay Leno, Michelle Obama declined to criticize Sarah Palin about revelations that the RNC spent $150,000 at Neiman Marcus and other high-end retailers on clothes and accessories for Palin and her family.
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DETROIT/WASHINGTON (Reuters) - Six U.S. governors and a group of chief executives on Thursday urged the Bush administration in a letter to aid the embattled auto industry while the White House rebuffed a request for direct support of a merger between GM and Chrysler.
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Barack Obama's campaign has approached Illinois Rep. Rahm Emanuel about possibly serving as White House chief of staff, officials say.
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Barack Obama: Profile
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Barack Obama's victory in the presidential race will give labor unions and the embattled U.S. auto industry a strong ally in the White House, and likely will put pressure on oil and gas producers and pharmaceutical companies.
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The leader of Hamas in the Gaza Strip said he is ready and willing to hold talks with US president-elect Barack Obama. The Islamist movement is listed as a terrorist organisation by the EU, USA and Israel.
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President-elect Obama returned calls to nine foreign leaders today, thanking them for having called to express congratulations on his election. He returned calls and spoke to: 1. Prime Minister Rudd of Australia 2. Prime Minister Harper of Canada 3. President...
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Rahm Emanuel, chief of staff for President-elect Barack Obama, suggested a Democratic administration would be open to using the rescue fund to help the struggling auto industry.
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Barack Obama is to discuss Iraq, the economy and a smooth transition in his first post-election talks with President Bush.
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President-elect Barack Obama yesterday urged President Bush to support immediate aid for struggling automakers and back a new stimulus package, even as congressional Democrats began drafting legislation to give the Detroit automakers quick access to $25 billion by adding them to the Treasury Department's $700 billion economic rescue program.
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WASHINGTON (AP) -- President-elect Obama suggested to President Bush that the administration immediately provide extra help to struggling U.S. automakers, aides to the Democrat say, in their first face-to-face meeting since Election Day....
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As aides reveal that president-elect Barack Obama discussed aid for struggling automakers at the White House, congressional leaders reveal their own relief plans for Detroit.
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Fans of David Maraniss's classic Bill Clinton biography First in His Class, rejoice! According to his D.C.-based literary agent, Rafe Sagalyn, the Pulitzer Prize-winning Washington Post editor is planning to write a biography of President-elect Barack Obama. "He'll do for Obama what he did for Clinton," Mr. Sagalyn said. "That's the model." Mr. Sagalyn cautioned that a contract with Mr. Maraniss's publisher, Simon & Schuster, has not yet been finalized, but sounded sure that the ongoing conversations would soon lead to an agreement. That doesn't mean the book is around the corner, though: According to Mr. Sagalyn, Mr. Maraniss is going to take his time, and not worry about any of the other people working on Obama books. readmore
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Who would have thunk it?
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TEHRAN, Iran (AP) -- Barack Obama's election and the chance of a leadership change in Iran offer the best hope in decades for direct talks between bitter enemies Iran and America....
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WASHINGTON -- Urgently shifting course, the Bush administration is abandoning the centerpiece of its massive $700 billion economic rescue plan and exploring new ways to shore up not only banks but credit-card, auto-loan and other huge nonbank businesses. Democrats are pressing hard to include a multibillion-dollar bailout for faltering automakers, too _ over administration objections. Unimpressed by any of the talk on Wednesday, Wall Street dove ever lower.
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A light could be shining for the Detroit Big Three as US lawmakers indicate a willingness to include the auto industry in its proposed USD700 billion bailout of financial institutions.
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