White House refines position on auto industry help

The Bush White House stressed Monday that it supports help for the struggling auto industry, but believes it should not be taken from the $700 billion financial system rescue program. As lawmakers were returning to a lame duck session to focus on the troubled industry, President Bush’s chief spokeswoman issued a statement saying the administration “does [...] "eliotcobb.com"

AP Special Correspondent WASHINGTON The Bush administration has told top lawmakers it does not plan to use at least half of the $700 billion bailout fund that Congress approved this fall to aid the financial industry, congressional officials said Monday. These officials said Treasury Secretary Henry Paulson passed the word over the weekend that he intends [...] "eliotcobb.com"

Australia is about to get a new entry into national politics — a party devoted to sex. The brains behind the Australian Sex Party, which will be launched in Melbourne on Thursday, believe that politics has become too stuffy and conservative Down Under. Describing itself as “serious about sex” the party sees itself as a political response [...] "eliotcobb.com"

President-elect Barack Obama and vanquished rival John McCain met for the first time since the November 4 election on Monday, pledging to work together to face the financial crisis and other national challenges. “We’re going to have a good conversation about how we can do some work together to fix up the country,” Obama said, adding [...] "eliotcobb.com"

A hijacked supertanker with two British crew members was being taken to a Somali port this afternoon after pirates seized their biggest vessel yet off the African coast. Acts of piracy in the shipping lanes of the Arabian Sea have become increasingly violent and commonplace in recent months, but this is the first time hijackers have [...] "eliotcobb.com"

U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation’s financial system and should take back what is left of the $700 billion “blank check” it gave the Bush administration. “It is just outrageous that the American people don’t know that Congress doesn’t know how much money [...] "eliotcobb.com"