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Congress, White House reach financial bailout deal
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Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession.
House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper.
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After declaring he’d return to Washington to help with the bailout negotiations immediately after last night’s debate, Sen. John McCain (R-AZ) never went to Capitol Hill today. In fact, McCain stayed largely holed up in his Arlington apartment, leaving only to go to his campaign headquarters just around the block, the New York Times reports:
Asked why Mr. McCain did not go to Capitol Hill after coming back to Washington to help with negotiations, [McCain adviser] Mr. Salter replied that “he can effectively do what he needs to do by phone.’’