Skip to comments.Lawmakers report progress on financial rescue deal
Posted on 09/27/2008 9:26:18 PM PDT by BAW
Nervously eyeing the markets' next trading session, key lawmakers in both parties and Treasury Secretary Henry Paulson worked late into the night Saturday trying to close an agreement on a multibillion-dollar government bailout of distressed financial companies.
House Speaker Nancy Pelosi, D-Calif., told reporters "quite a bit" of progress was being made on a deal that Congress could send to President Bush as early as Monday after votes in both houses.
A key sticking point was how to include a new government-sponsored insurance program demanded by House Republicans as an alternative to devoting the entire $700 billion buying up devalued mortgage-backed securities and other toxic debt from banks and investors.
We're making a lot of headway; I think it's possible to get this thing done tonight," said Senate Finance Committee Chairman Max Baucus, D-Mont. "I can't guarantee it," Baucus quickly added.
The House was scheduled to convene at 1 p.m. EDT Sunday and members there were hoping they could vote on a bill by that evening and go home to campaign for re-election. The Senate isn't scheduled to go back into session until Monday
(Excerpt) Read more at sfgate.com ...
i don’t trust nancy pelosi.
FoxNews has gone to breaking news mode. Awaiting statement...
Better not include ACORN
Or are the backers of the bailout worried about grand jury indictments on Monday....
This is live, correct?
...i dont trust nancy pelosi.
You should not. She is a radical socialist of the worst kind and is more incompetent than Jimmah Carter, by all rights. That is one DANGEROUS combination and the idiot voters of 2006 made her happen to us.
A done deal or posturing? SHe seems very flustered
Mentions that LA grand jury....
Yeah, let's hear it for the bailout. The pols are trying to stay one step ahead of the posse...
Paulson speaking....claim there is a deal...will be reduced to writing for approval tomorrow.
No repubs here, what is going on? Is this some new thing the DEMS are proposing?
I am only hearing what I have heard for days...a deal is near.
Could this just be a psych out, a grandstand?
Will the GOP be out?
Only Shumer looks happy.
I want to hear from the House Repubs, can’t trust these people
Screw Main Street-too damned dangerous.
I think this is an act.
I want to hear some substance, like what is in this bill as far as PORK!!!
Rep Blunt speaking....says we need to see where we are “on paper” tomorrow. He sounds much more tentative.
If there was a true deal then the GOP would be out there also.
SOMETHING is up.
I bet Acorn is still there
Dodd wants to now praise Speaker Pelosi and Leader Reid.
Blah blah blah blah. We are anouncing that we will have an anouncement tomorrow. What a load of horse poop!!!
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