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Lawmakers report progress on financial rescue deal
San Francisco Chronicle via AP ^ | September 27, 2008 8:27 PM PDT | CHARLES BABINGTON

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 ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: acorn; acornslushfund; bailout; democrats; obama
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To: LegalEagle61

I am sick of these bloviating libs, they are probably still fighting with the House.


21 posted on 09/27/2008 9:37:14 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: LegalEagle61

Someone stuff something into Frank’s piehole...ooh I just thought of what that would likely be....:(


22 posted on 09/27/2008 9:38:13 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: All

Barnie Frankenstein says bill will not make everyone happy. Bush plan mixed with compromises. We’ll see...


23 posted on 09/27/2008 9:38:15 PM PDT by anniegetyourgun
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To: Protect the Bill of Rights

Maybe they just got their Blackberries back and are busy communicating.


24 posted on 09/27/2008 9:38:22 PM PDT by Protect the Bill of Rights (Stand up, Chuck)
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To: All

Taking NO questions from the press.


25 posted on 09/27/2008 9:38:50 PM PDT by anniegetyourgun
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To: anniegetyourgun

I emailed a bunch of people tonight in congress saying there be better no ACORN or other liberal pork in this.


26 posted on 09/27/2008 9:39:10 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: BAW

Any bill has to be posted on the Thomas system for 24 hours prior to a vote, correct?


27 posted on 09/27/2008 9:39:11 PM PDT by Plutarch
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To: Plutarch

I thought so.


28 posted on 09/27/2008 9:39:51 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: Drill Thrawl

I think you nailed it.


29 posted on 09/27/2008 9:39:59 PM PDT by anniegetyourgun
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To: Plutarch

GOP??????? WJere are they?


30 posted on 09/27/2008 9:40:29 PM PDT by Protect the Bill of Rights (Stand up, Chuck)
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To: anniegetyourgun
Dodd wants to now praise Speaker Pelosi and Leader Reid.

Hey, Dodd, when're ya gonna release those documents...?

Talk about the fox guarding the henhouse.

31 posted on 09/27/2008 9:40:39 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: BAW

The only news I want to hear is that negotiations have been broken off and there is no deal pending.


32 posted on 09/27/2008 9:40:39 PM PDT by dalereed
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To: Protect the Bill of Rights

GOP is being silent, but i bet they have a reason, timing is everything in a political year.


33 posted on 09/27/2008 9:41:10 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: dalereed

Personally, I’d like to see a mass resignation.


34 posted on 09/27/2008 9:41:29 PM PDT by Drill Thrawl (Drill Baby, Drill - Drill Thrawl)
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To: anniegetyourgun
Taking NO questions from the press.

You mean like whether or not any of 'em have retained criminal defense attorneys...

35 posted on 09/27/2008 9:41:38 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: Drill Thrawl

I’d like to see a mass indictment.


36 posted on 09/27/2008 9:41:53 PM PDT by LegalEagle61 (If you are going to burn our flag, please make sure you are wearing it when you do!)
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To: LegalEagle61

Blunt said he’ll see what his colleagues have to say about it tomorrow.


37 posted on 09/27/2008 9:42:30 PM PDT by anniegetyourgun
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To: Drill Thrawl
Personally, I’d like to see a mass resignation.

I'd rather see a mass indictment, arrest, and conviction.

38 posted on 09/27/2008 9:42:34 PM PDT by mewzilla (In politics the middle way is none at all. John Adams)
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To: dalereed

Only on cnn right now.

discussion.


39 posted on 09/27/2008 9:42:36 PM PDT by Jet Jaguar (Who would the terrorists vote for?)
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To: LegalEagle61

And I throught I was dreaming. LOL.


40 posted on 09/27/2008 9:42:41 PM PDT by Drill Thrawl (Drill Baby, Drill - Drill Thrawl)
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