Lawmakers reach deal on most terms of financial bailout

Dandelion Salad

By David Lightman and Margaret Talev
McClatchy Newspapers


WASHINGTON — Congressional negotiators said Thursday that they’d agreed on key principles that will guide massive financial rescue legislation that will cost taxpayers $700 billion, but some specific details remained unresolved.

“We are very confident that we can act expeditiously,” Senate Banking Committee Chairman Christopher Dodd, D-Conn., said. Leading members of both parties from both the House of Representatives and the Senate were present and signed onto the agreement in principle.

Sen. Robert Bennett, R-Utah, echoed Dodd’s view. “I now expect that we will indeed have a plan that can pass the House, pass the Senate and be signed by the president.”

But they would not discuss specifics, some conservative House Republicans remained opposed and specific terms of certain key proposals remained to be negotiated.


McClatchy Washington Bureau | 09/25/2008 | Lawmakers reach deal on most terms of financial bailout

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