Why Republicans will likely have to cave on the automaker bailout.

Today, Congress reconvened itself in the “lame duck” session to attempt to force through before the 111th Congress the remaining laundry list of bills that Democratic leaders promised during the October campaigning period. One bill, however, has run into significant opposition - the automakers bailout bill. Despite holding sizable leads in the House and Senate, Democrats are unable to garner sufficient votes to pass the bill. As a result, Speaker of the House Nancy Pelosi has been forced to say, “Just wait” for the 111th Congress. For Republicans, the automaker bailout issue is fraught with peril for a party that is already weakened and attempting to regain both its confidence and its soul.

US and World Markets fall and Congress looks for blame.

Today’s markets plummted around the world reacting to the bailout bill, worries about the broader credit markets, and the lack of reaction by most Western governments to what is undoubtedly a broadening financial crunch around the world. Panic swept through the world’s financial markets, wiping $2.5 trillion from share values, amid concern that regulators and politicians were struggling to get a grip on the worsening crisis of confidence.

Oil Execs before the US Senate

Washington, D.C. (rightcommentary.com): I reported yesterday on the US major oil executives testifying before the US Senate. CSPAN now has a link to view the testimony in full:
http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&products_id=205477-1&showVid=true
Enjoy!

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