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UPI NewsTrack TopNews
(UPI Top Stories Via Acquire Media NewsEdge) Dems agree on auto bridge loan planWASHINGTON, Dec. 5 (UPI) -- Congressional Democrats said Friday they have agreed on a plan for short-term loans that one lawmaker said would carry U.S. automakers well into next year.
Congressional leaders said they expected to hold votes on the legislation during a special session next week, The New York Times reported.
Rep. Barney Frank, D-Mass. -- chairman of the House Financial Services Committee -- told NBC News Friday night the plan involves using funds from a $25 billion loan that has already authorized for technology upgrades, to allow automakers to meet cash flow needs in the short term.
What we believe is that $25 billion will get us well into the next year, he said.
Frank said Congress would reserve the right to replace that money with funds from a U.S. rescue fund that President George W. Bush has resisted using to help the Big Three automakers address their immediate cash problems. He said Congress would have a freer hand in the matter after Bush leaves office.
They won't be able to stop us then, Frank said.
Earlier in the day, he said the jump in U.S. unemployment helped galvanize support for federal assistance for automakers. With a bad economy and a jump in unemployment from 6.5 percent to 6.7 percent in November, doing nothing to help the automakers would make things worse, he said after a hearing on whether the government should provide $34 billion to Detroit automakers.
Chief executive officers from Ford Motor Co., General Motors Corp. and Chrysler LLC were on Capitol Hill for two days of testimony on their request for government aid, appearing before the House Financial Services Committee Friday and the Senate Banking Committee Thursday.
The United Auto Workers president, in advocating approval of a bridge loan, said his union believes GM and Chrysler will have to liquidate if they don't get some sort of funds.
U.S., N. Korea discuss nuke verificationWASHINGTON, Dec. 5 (UPI) -- U.S. and North Korean diplomats discussed denuclearization of the Korean peninsula Friday in advance of next week's formal meeting, the State Department said.
Christopher Hill, assistant U.S. secretary of State, and the North Korean delegation Friday had a useful exchange of views on verification protocols for dismantling North Korea's nuclear program, department spokesman Robert Wood said.
Hill will meet with other members of the so-called six-party talks on North Korea's denuclearization before formal negotiations begin Monday in Beijing. Members of the six-party talks are the two Koreas, China, Russia, Japan and the United States.
(Where) we are now is trying to get those understandings and assurances (about verification) that the North Koreans provided Chris, Wood said. So the negotiations on that will take place in Beijing. And, hopefully, we will have, you know, a fiber verification protocol after that meeting.
When pressed Wood said he didn't know what issues were discussed but it was his understanding one resolved obstacle was getting a number of these clarifications and assurances on paper. I think it's safe to say that the North has agreed to put some things on paper.
Caroline Kennedy considering Senate seatWASHINGTON, Dec. 5 (UPI) -- Caroline Kennedy, the daughter of slain President John F. Kennedy, may succeed Secretary of State-designate Hillary Clinton in the U.S. Senate, sources say.
Citing a source identified only as a Democrat who would know, ABC News reported Friday that New York Gov. David Paterson has spoken with Caroline Kennedy about replacing Clinton in the Senate seat that her uncle, Robert Kennedy, held until his assassination in 1968.
The younger Kennedy's uncle, Ted Kennedy, represents Massachusetts in the Senate.
Caroline Kennedy was an early supporter of President-elect Barack Obama during the contest for the Democratic presidential nomination and led the effort to choose a running mate after Obama won the nomination.
ABC News, again citing sources, said Caroline Kennedy is considering the proposition.
Obama spokeswoman Stephanie Cutter told ABC Obama has no involvement in the selection of a successor to Clinton in the Senate.
President-elect Obama has a very high regard for Caroline Kennedy, Cutter said. But, he has not spoken with Governor Paterson or Caroline Kennedy about the race, and has no involvement in this process.
Palin won't release Troopergate depositionANCHORAGE, Alaska, Dec. 5 (UPI) -- Alaska Gov. Sarah Palin says she will not release a transcript of her testimony in an ethics probe into her dismissal of Alaska's top law enforcement officer.
At issue was whether the former Republican vice presidential nominee violated state ethics laws when she fired Walt Monegan, the state's public safety commissioner, for his refusal to fire her ex-brother-in-law from the state police, the Anchorage Daily News reported Friday.
Investigators looked into whether Palin and several top aides pressured Monegan to fire Trooper Mike Wooten, who was engaged in a bitter divorce and child custody dispute with Palin's sister. Palin later fired Monegan.
A legislative investigation concluded that Palin acted legally in firing Monegan but violated state ethics law in pressuring him to fire Wooten. However, a state Personnel Board report released the day before the November election cleared Palin of charges she violated state ethics law.
Palin spokeswoman Sharon Leighow said the matter is closed.
We see no public purpose in artificially prolonging this controversy, she said. Two investigations concerning this matter have been conducted and concluded; we are not going to relitigate this in the media now.
The governor's office also refused to release a transcript of the deposition by Palin's husband, Todd.
Copyright ? 2008 United Press International
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