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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 02, 2009
Page
3
The U.S. Treasury has already provided 40 billion dollars to AIG under the Troubled Asset Relief Program and may supply as much as 300 million more as the rescue proceeds.
Israel's attorney general notified Prime Minister Ehud Olmert of plans to indict him on suspicion of illicitly taking cash stuffed envelopes from a Jewish American businessman. Olmert would be first Israeli prime minister indicted, with a trial potential in a separate corruption probe. The case adds to five investigations he faces as he denies wrongdoing.
The Obama administration rushed to include a health care safety net in the stimulus bill but failed to brief employers on how to implement it. Tens of thousands of laid-off workers may wait months for COBRA subsidies as costs rise and eligibility stalls. Cassandra Kelsey, 55, says her $550 monthly premium could drop to under $200, but she may not access the reduced rate until May. Local job centers reflect the gap between policy and practice.
Advertisers push visual diversity in campaigns from Pepsi to E Trade while analysts note growing minority buying power and a shift toward a multicultural mainstream. Critics warn ads may obscure persistent economic gaps and underrepresent nonwhite leadership in the industry.
EU leaders led by Chancellor Merkel rejected a blanket bailout for eastern Europe and urged case by case aid. Germany and the Netherlands dismissed quick euro access for currency-strapped states, while Sarkozy called for reviewing euro criteria after the crisis. German protests against one size fits all bailouts persisted.
The 135 billion in federal aid will not erase budget gaps. States must cut services or raise taxes, risking up to 120 billion nationwide in 2011 budgets. Experts say gaps could persist until 2013, as economic recovery lags behind fiscal tightening. Federal actions tie to housing, unemployment, and consumer demand pressures.
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