NPR 2008-11-21

Despite early indications of some progress toward reaching an agreement on a plan to help the ailing 1 U. S. automakers， it now appears that is not going to be happening until next month. Democratic leaders in Congress say they have postponed 4 the vote to bail 5 out the companies. House Majority Leader Harry 6 Reid said today the automakers have failed to convince the American people or Congress that the bailout now will “be their last” .” We are prepared to come back into session, the week of December 8th, to help the auto 2 industry. But only if they present a viable 7 plan that gives us, the Congress, the confidence, that taxpayers 8, the auto workers will be well served.” House Speaker Nancy Pelosi also called on the companies to show some sort of plan on how they would spend additional federal dollars. Heads of the major domestic car companies GM, Ford 9 and Chrysler are requesting 25 billion dollars in loans to help them stay in business to the spring.

 GMAC, the car financing company, has applied 10 to become a bank holding company that would allow it to receive some of the bailout money approved by Congress. NPR's Brian Naylor has more.

 While the CEOs of the nation’s domestic automakers have been pleading with Congress for government loans because they are running out of cash, GMAC is looking for help too. GMAC is jointly 11 owned by GM and Cerberus, the same firm that owns Chrysler. It says it needs some of the bailout money in order to continue providing car and mortgage financing. But in order to get the bailout money, GMAC must first receive federal approval to become a bank holding company. The company did not say how much cash it’s seeking; other non-bank financial companies including credit card issuer American Express have also applied to become banks to access the treasury’s bailout funds. Brian Naylor, NPR News, Washington.

 There's a changing of the guard at the helm of a key House committee. NPR's Julie Rovner reports.

 California's Henry Waxman will replace Michigan's John Dingell as chairman of the powerful Energy and Commerce Committee come January. That's the result of the secret ballot 12 of House Democrats 13. The battle pitted two of the most accomplished 14 legislators in the House. Dingell has been the top Democrat 3 on the panel that oversees 15 most health and environmental legislations for 28 years. Waxman chaired its Health SubCommittee for 16 of those years. And during that time, engineer brought expansion to a health care for poor pregnant women and children, the elderly and those with disabilities. In fact, Dingell and Waxman see mostly eye to eye on health care, it’s their divergent views on energy and the environment that prompted the challenge. Waxman's expected to be more aggressive on issues like climate change. Julie Rovner, NPR News, Washington.

 The Federal Reserve now plans to attack an extra day onto its final scheduled meeting of the year. Fed policymakers announced today when the Fed's powerful Open Market Committee gathers next month. It will meet for two days, rather than the scheduled one.

 On Wall Street today, the Dow fell 443 points. The S&P was down 54 points today. This is NPR.

 The speculation 16 about who might be part of Obama Cabinet continues in Washington. Chicago businesswoman Penny Prisker says despite  speculation she might be the next Secretary of Commerce under President-elect Obama. She said today she is not a contender for the job. Officials are now saying that Laura D'Andrea Tyson, the former chair of the White House Council of Economic Advisers 17 under President Clinton is in the running. While no official announcement has been made about Cabinet posts under the new administration. Unofficially, that roster 18 is now said to include Arizona Governor Janet Napolitano as possible Secretary of Homeland Security. Washington lawyer Eric Holder 19 as Attorney General and former Senate Majority Leader Tom Daschle as Health and Human Services Secretary. Senator Hillary Clinton has been put forth 20 as candidate for Secretary of State.

 United Nations' Security Council authorized 21 more peacekeepers and police to help stabilize 22 the east Democratic Republic of Congo. NPR's Quinn Topkin reports.

 The resolution passed today, but there's no telling when the additional peacekeepers and police will get here. Security Council members described the fighting between rebels, various militias 23 and the Congolese army as a situation that should be addressed as a matter of urgency. But the reality of the situation is that it could take months for the new peacekeepers to arrive. And the civilian 24 population is desperate now. More than a quarter of million people have been displaced by fighting in recent months, and they're in need of protection. Refugee International and other human rights groups are calling for swift implementation 25 of Resolution 1843. They are also urging European powers to dispatch troops who can place it until the United Nations come through. Quinn Topkin, NPR News, Goma.

 Crude oil prices continue to fall. The near-month contract for benchmark crude fell four dollars a barrel to settle at $49. 62 a barrel today.