Financial Briefs

Breaking financial news from Wall Street to Main Street

Deal would phase in bailout funds

Posted by financialbriefs on September 25, 2008

The leaders of House and Senate banking committees reached a bipartisan agreement Thursday on the framework for legislation authorizing Treasury’s ambitious $700 billion rescue plan for the financial markets.

The final language of the bill must still be negotiated with Treasury, which watched nervously from the outside as the closed-door meeting ran close to three hours in the Capitol. But the announcement gives renewed momentum to the massive government intervention, which the administration badly wants approved before the markets open next week.

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One Response to “Deal would phase in bailout funds”

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