Congress, White House reach bailout deal

Democratic leaders in Congress are praising a $700 billion rescue package for the financial industry as a vital move to shore up the sagging economy. House Speaker Nancy Pelosi says the proposal is not

News 12 Staff

Sep 28, 2008, 10:14 PM

Updated 5,960 days ago

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Democratic leaders in Congress are praising a $700 billion rescue package for the financial industry as a vital move to shore up the sagging economy.
House Speaker Nancy Pelosi says the proposal is not a Wall Street bailout. Instead she calls it a buy-in to help the economy get turned around.
Pelosi spoke to reporters at the Capitol just after the finallegislation was released Sunday and as House Republicans and Democrats met privately to review details and gauge support.
A House vote is planned for Monday. Senators are to follow laterthis week.
Senate Democratic leader Harry Reid says Congress won importantconcessions from the Bush administration in negotiating the bill.He says the White House wanted a blank check and lawmakers wouldnot agree to that.