Obama administration

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Stress Tests Expected to Show Confidence in Banks

Administration ready to say bailout worked

(Newser) - The top US banks may not be as deep in the mud as analysts fear, government "stress tests" out Thursday are expected to show. Officials seem ready to argue that the nation's financial system is recovering and won't require more bailout funds from Congress. "None of these banks...

Chrysler Downfall Gives Obama Leverage With GM
Chrysler Downfall Gives Obama Leverage With GM
ANALYSIS
May 2, 2009 2:24 PM CDT

Chrysler Downfall Gives Obama Leverage With GM

President has already shown he'll play hardball to resurrect a sputtering automaker

(Newser) - Chrysler’s spiral into bankruptcy may give the Obama administration leverage in drastically reshaping General Motors, David E. Sanger and Bill Vlasic write in the New York Times. GM bondholders now know Obama isn't kidding about bankruptcy court, and could fear being stuck with paltry court payouts. Obama's offer of...

Buffett: US 'Doing the Right Things'

(Newser) - Warren Buffett said today the US government is taking the correct actions to help the economy recover. "The government is doing the right things," Buffett said before the opening of Berkshire Hathaway's annual shareholder meeting. "They're acting in a countercyclical manner." But he said he can't...

Obama May Bring Back Military Terror Courts

(Newser) - Barack Obama is leaning towards reinstituting military commissions as a way of trying Guantanamo detainees, and could begin publicly doing so as soon as next week, officials tell the New York Times. Obama has been a staunch critic of the system, but the administration is increasingly worried about the hazards...

Obama Should Aim for the Center With Court Choice

President has more to gain from picking a centrist who can lead than from a liberal follower

(Newser) - Justice Souter's sayonara gives Democrats a huge (and rare) opportunity to shape the Supreme Court, but President Obama would be wise not to simply appease the party faithful by picking a left-winger, Jonathan Martin writes in Politico. A centrist with leadership skills would be a better choice, Martin argues—somebody...

Clinton Gets Comfy at State
 Clinton Gets Comfy at State 
ANALYSIS
May 1, 2009 5:32 PM CDT

Clinton Gets Comfy at State

(Newser) - Hillary Clinton’s transition from presidential candidate to secretary of state wasn’t easy—and neither is the new gig—but the former first lady has taken it all in stride, the New York Times reports. “I love the job; I mean, it’s really hard,” Clinton said,...

Torture Video Derails US-Emirates Nuke Deal

(Newser) - Video of a member of the UAE’s royal family brutally torturing an Afghan salesman threatens to sink a nuclear trade deal between the UAE and the US, the Times of London reports. Sheikh Issa bin Zayed al-Nahyan, a brother of the UAE president, is shown beating the trader and...

Chrysler Halts Production to Lower Inventory

Automaker also appears in court to lay out bankruptcy plan

(Newser) - Chrysler idled its plants today for 30 to 60 days to reduce inventory as the company’s lawyers appeared in a New York bankruptcy court, the Washington Post reports. The attorneys outlined a plan to emerge from bankruptcy within 2 months. “We are quite mindful of the view of...

Obama Hopes to Replace Souter by Oct.

(Newser) - President Obama said today he will replace retiring Supreme Court Justice David Souter with someone who shares the president's respect for "constitutional values" and hopes to have "him or her" seated by the start of the next term in October. In a dramatic flourish, Obama interrupted White House...

Hispanic Groups Urge Obama to Pick Latino for High Court

Caucus says Hispanics underrepresented in federal courts

(Newser) - Even before David Souter’s retirement plans became public, leaders of the Congressional Hispanic Caucus sent President Obama a letter asking him to fill any Supreme Court vacancy with a Latino justice, the Hill reports. Wednesday’s missive praises Obama for appointing Hispanics to key positions—including two Cabinet posts—...

Treasury's Mantra: 'Rahm Wants It'

"Rahm wants it" is new motto around Geithner's office

(Newser) - Tim Geithner's early struggles to gain the confidence of the markets and the public have led to a stronger-than-usual White House presence at the Treasury Department, where "Rahm wants it" is a frequent refrain, reports the Wall Street Journal. Although it's a dramatic shift from the Hank Paulson regime,...

Early-Morning Dog Walks Fall to ... Michelle

It's a good thing the first lady likes Bo

(Newser) - Turns out the first daughters are a lot like kids everywhere, People reports. “Even though the kids are supposed to do a lot of the work, I’m still up at 5:15am taking my dog out,” Michelle Obama told a group of congressional spouses yesterday. “So...

On Gitmo, Obama Has a NIMBY Problem

Congress balks at funds, authority to move detainees to US

(Newser) - President Obama has ordered that Guantanamo be closed by the end of the year, but finding a place for the prisoners the administration can neither try nor export is turning into a political nightmare. A Pentagon request for $50 million to relocate the prisoners is running into crossfire in Congress,...

Chatty Joe Provides 100+ Days of Gaffes
Chatty Joe Provides 100+ Days of Gaffes
analysis
May 1, 2009 8:23 AM CDT

Chatty Joe Provides 100+ Days of Gaffes

The veep has his uses, but staying on message ain't one

(Newser) - This week perfectly illustrates the yin and yang of Joe Biden, write Sam Youngman and Ian Swanson of the Hill. First, he scores a political coup by helping to convince pal Arlen Specter to defect. Then he promptly inserts foot in mouth with his advice on how to avoid the...

House Approves Credit Card Reform

(Newser) - The House today approved legislation to protect credit card holders from hidden fees and sudden rate hikes, Reuters reports. Legislators voted overwhelmingly for the Credit Cardholders' Bill of Rights, a measure banks complain will tighten the amount of credit available and make holding a card more expensive. The Senate is...

White House Staffer Caught Flu in Mexico

(Newser) - An administration staffer who worked at a dinner President Obama attended during his trip to Mexico likely contracted the H1N1 virus there, the Washington Post reports. The unnamed Energy Department security worker has since transmitted the flu to his wife, son, and nephew, though he has been cleared of the...

Chrysler Bankruptcy Obama's Blunt Message to GM
Chrysler Bankruptcy Obama's Blunt Message to GM
OPINION
Apr 30, 2009 3:08 PM CDT

Chrysler Bankruptcy Obama's Blunt Message to GM

President not afraid to use 'the big stick' on ailing firms

(Newser) - In announcing Chrysler’s bankruptcy, President Obama shows other troubled firms and industries there’s a point where bailouts stop and hard choices begin—and that message must ring especially clear at General Motors, writes Tom Walsh for the Detroit Free Press. GM’s creditors will now be under a...

Bankruptcy 'New Lease on Life' for Chrysler: Obama

(Newser) - President Obama said today that Chrysler’s impending bankruptcy is “not a sign of weakness but one more step” towards recovery, the Washington Post reports. The 1-to-2 month “surgical” bankruptcy—a time frame met with skepticism by experts—will give the automaker a “new lease on life,...

Chrysler to Declare Bankruptcy: White House

(Newser) - Having failed to make a deal with the creditors to which it owes some $7 billion, Chrysler will declare Chapter 11 bankruptcy later today, a White House official tells CNN. The filing does not mean the company will cease operations—rather, it represents an opportunity to execute a merger with...

Obama: I'm 'Proud,' But 'Not Content'
 Obama: 
 I'm 'Proud,' But 'Not Content' 
updated
Apr 29, 2009 7:01 PM CDT

Obama: I'm 'Proud,' But 'Not Content'

(Newser) - President Obama this evening joined in on the 100-day assessment of his presidency, saying that he's "proud" of his progress so far but "not content," Politico reports. In remarks before his primetime news conference, Obama also trotted out a new phrase—calling for a "New Foundation"...

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