Posted on 09/25/2008 12:16:37 PM PDT by Ernest_at_the_Beach
awmakers in Washington have reached a "fundamental agreement" over the basic terms of the biggest bail-out of Wall Street since the Great Depression.
Speaking on Capitol Hill this afternoon, senior representatives from both the Republican and Democratic parties said that while precise details had still to be agreed, they had managed to secure an overall deal.
Emerging from a meeting which had lasted all morning, Senator Chris Dodd, the chairman of the Senate Banking Committee, said that a deal had been reached which will see at least $700 billion worth of taxpayer funds given to the US Treasury to start bailing out America's banking system.
On the New York stock market, shares had already traded 2 per cent higher throughout the morning on anticipation of a deal. Just after the announcement, the Dow Jones Industrial Average was trading up 262 points to 11089.
(Excerpt) Read more at timesonline.co.uk ...
Be nice if they would let us know the “basic terms.”
The deal is not done, yet.
Republicans haven’t said yes to anything.
It’s above their pay grade.
The Times in the UK?
If the deal is done, why did the Republican from Congress say that there is no deal, that the congressional Republicans have agreed to nothing?
They are pushing the ‘deal is done’ talking point so McCain will not received any credit...
I think McCain should attached his mortgage reform bill to this thing.
LOL!
So Washington is responsible for making Obama? "Aw" makers?
:>)
(Just bumping)
Menendez just told Shep the deal is NOT done and propably won’t be done today. He’s blaming McCain for injecting politics. Apparently the overwhelming opposition to the plan from the folks is not entering into their discussion. Idiots.
Foxnews just interviewed Sen Bunning (R) ,...who says NO on the Plan.
This is lifted from MSNBC, NO Republicans have signed off on the deal according to a GOP Congressman on Hannity right NOW.
US 'agrees Wall Street bail-out'
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See #16 also.
Bushonomics: Privatize Gains, Socialize Losses!
Lawmakers: Financial bailout agreement reached??
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WASHINGTON (AP) - Key Republicans and Democrats reported agreement Thursday on an outline for a historic $700 billion bailout of the financial industry, but there was still resistance from rank-and-file House Republicans despite warnings of an impending panic.
"I now expect we will, indeed, have a plan that can pass the House, pass the Senate, be signed by the president and bring a sense of certainty to this crisis that is sill roiling in the market," Sen. Bob Bennett, R-Utah, said as members of both parties emerged from a two-hour negotiating session.
Negotiators planned to present the outline at a White House meeting later Thursday with President Bush and the rivals to replace him, Republican John McCain and Democrat Barrack Obama.
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