According to Politico:
House and Senate negotiators have reached tentative agreement on Treasury’s $700 billion rescue plan for the financial markets after a marathon Capitol negotiating session that started Saturday afternoon and stretched into early Sunday morning.
House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry Reid (D-Nev.) said the deal still had to be “committed to paper,” a process that will continue throughout the night, with an eye toward a formal announcement Sunday.
“We have something verbal,” said Rep. Rahm Emanuel (D-Ill.).
Republican Whip Roy Blunt (R-Mo.), the chief negotiator for the House GOP, said he was “looking forward to what we’re going to see on paper” but said he was optimistic that it would be something House Republicans could support.
“I’m not sure yet we can sell it to our conference but I’m 100% sure that this is the best deal we could get,” said a Republican aide.
Said Treasury Secretary Henry Paulson: “We’ve been working very hard on this and we’ve made great progress toward a deal which will work and will be effective in the marketplace and effective for all Americans . . . .We’ve still got a lot to do to finalize it, but I think we’re there.”
Seems a bit tentative and my guess is that it could blow up by morning if Democrats have managed to slip in there things like the BS funding for ACORN, but it seems that at least some deal is on track. A lot of hard work for all involved – with John McCain and the House GOP representing America, and the rest of the Congress representing the status quo. And, as usual in a crisis, Obama is nowhere to be found…one wonders if he’ll even show back up in DC to vote on this…
McCain is there, of course…its where leaders go when leadership is needed.
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