Lawmakers are expected to bring the details of a rescue deal agreement to Bush administration officials later today. They hammered out most details on the fundamentals and approach and the bailout of Wall Street is moving forward. A vote is expected as early as Monday.
From MSNBC:
Sen. Chris Dodd, D-Conn., chairman of the
Senate Banking Committee, said a “fundamental agreement” on the
principles of a bailout have been reached and said he hopes Congress
can act within the next few days. Separately, House Financial Services
Committee Chairman Rep. Barney Frank, D-Mass., said a bailout bill is
“on track” for passage.
Earlier,
Paul Kanjorski, D-Pa., chairman of the House Financial Services
Subcommittee on Capital Markets, Insurance, and Government Sponsored
Enterprises, told CNBC that negotiations over a proposed $700 billion
rescue for Wall Street have gone well and a plan could be in place
before financial markets open on Monday morning.
No specifics just yet. [UPDATE]: Debate still uncertain.
Also, President Bush has called Barack Obama and John McCain to Washington for a meeting.
Plus, on news that an agreement had been reached, stocks jumped.
Does this make you feel better? Or does this feel crazy distant from you and your family?
Photo: CNN.com
