President Bush meets with both presidential nominees to discuss bailout plan
President Bush is meeting with both presidential nominees to discuss details of a plan to bail out Wall Street. That's as Republicans and Democrats have reportedly reached an agreement.
Connecticut Senator Chris Dodd said Thursday afternoon, "We've reached a fundamental agreement on a set of principals -- one, the taxpayers, which is tremendously important. We're giving the secretary the authority he will need to act and the funding that he will need. We also have dealt, I think effectively, with the issue of effective oversight, with home ownership, preservation, as well as executive compensation."
Lawmakers aren't giving further details about the plan. They say they are confident this bill will pass both the House and Senate and be signed by the President.
Bush addressed the nation last night to press the urgency of action to calm the markets and restore confidence in the failing financial system.