Lawmakers reach agreement in principle on bailout

Both Republicans and Democrats in Congress say they have agreed on the basic principles of a new plan to bail out struggling financial firms hit hard by the effects of the crisis in U.S. mortgages and international credit.

“I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president,” said Sen. Bob Bennett, R-Utah. – Associated Press

There doesn’t appear to have been any substantive effect of Republican presidential candidate Sen. John McCain’s announcement that he was “suspending” his campaign (an announcement that *was* campaigning), though it is certain that his camp will spin it that way.

It now looks like the way might be clear for McCain to un-cancel his appearance at Friday’s debate with Barack Obama.

Lawmakers: Financial bailout agreement reached – Yahoo! News.

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