Tales from the Trail

First draft: Wall Street CEOs, Geithner head to Hill for grilling

February 11, 2009

When Treasury Secretary Timothy Geithner made his long-awaited speech on Tuesday to unveil the administration’s bank rescue plan, the stock market tanked. Traders said the nearly five percent drop was caused by a lack of specifics in Geithner’s announcement that the government would spend up to $2 trillion to mop up bad bank assets and revive lending.USA/

First draft: Spin after the news conference

February 10, 2009

OBAMA/White House press secretary Robert Gibbs made the rounds of the morning television talk shows today to reiterate what his boss said last night in his first presidential news conference: Congress must pass an economic stimulus package to help avoid dire consequences.

The First Draft: roller coasters

February 5, 2009

JAPAN/All eyes will be on Capitol Hill today as the Senate moves closer to a vote on the massive $900 billion stimulus bill. Lawmakers added expanded help for home buyers late last night in a bid to attract much-needed Republican support, but it’s still unclear whether Democrats have enough votes to pass the measure.

First Draft: rough patch

February 4, 2009

The first presidential apology — “I screwed up”  — making the rounds today.

First Draft: cooling off

February 3, 2009

Let it snow. Why should London have all the fun? Washington weather calls for a few inches, just enough for a snowball fight for hearty Midwesterners like President Barack Obama.

First draft: Now back to the economy

January 23, 2009

After a day of foreign policy, attention returns to the economy on Friday.

President Barack Obama and Vice President Joe Biden will meet with Democratic and Republican congressional leaders to talk about the economy. They will also hold a budget meeting and Obama will meet with Treasury Secretary-designate Timothy Giethner who won backing from the Senate Finance Committee on Thursday.

The First Draft: tax torture

January 14, 2009

The second round of Barack Obama‘s cabinet picks undergo their Capitol Hill hazing today. Who else screwed up on their taxes? Our elected representatives are sure to find out.

The First Draft: Hillary on the hot seat

January 13, 2009

Obama’s dream team faces its first test on Tuesday as the Senate holds confirmation hearings for Hillary Clinton and several other Cabinet picks.

The First Draft: Friday, Jan. 9

January 9, 2009

FINANCIAL/

Who gets the billions?

The incoming Obama administration is preparing a major overhaul of the $700 billion financial bailout amid rising complaints in Congress that the payouts are not going to the right people.

The First Draft: Tuesday, Jan. 6

January 6, 2009

MALAYSIA

On a dark and drippy Washington morning, President-elect Barack Obama meets with his economic advisers to discuss the 2010 budget.