Bush Says Rescue Plan Will be Passed
President Bush said key negotiators will "rise to the occasion" and pass a bailout bill to address the U.S. financial crisis. "We are going to get a package passed," Bush said in a televised message just now that aimed to reassure the markets. "We will rise to the occasion Republicans and Democrats will come together and pass a substantial rescue plan."
"Any time you have a plan this big, that is moving this quickly and requires legislative approval, it creates challenges," Bush said in brief remarks. "Members [of Congress] want to be heard, they want to be able to express their opinions...There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done."
Key negotiators on Capitol Hill thought they were close to a deal yesterday, which sent the Dow surging over 300 points yesterday, but after the market closed, Republican lawmakers emerged from a White House meeting saying they had not reached an agreement.
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