The Bailout Talks: What Remains On The TableJane Sasseen
Complex negotiations over the Treasury Department’s proposed $700 billion rescue package for the financial sector intensified late Saturday afternoon, as Secretary Henry Paulson and top Congressional leaders met starting a little after 3 PM in hopes of hammering out the final details of the package by Sunday. Though the Democratic leaders participating –- including House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Rep. Barney Frank and Senators Chuck Dodd and Charles Schumer — heavily outnumbered the main Republican negotiators, Rep. Roy Blunt and Sen. Judd Gregg, there was renewed optimism that a deal could be reached despite the disarray that surrounded the talks following a contentious White House meeting late Thursday. Speaking on the Senate floor before the Saturday afternoon meeting, Reid said an “agreement in principal” was within reach.
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