Sen. Reid, Speaker Pelosi, Sen. Dodd, and Rep. Frank discuss the $700 billion financial rescue agreement on Capitol Hill.
Sen. Reid: “This has been a bipartisan approach… now we have to get the votes.” Says bill could face vote as early as Wednesday.
Speaker Pelosi: Measure is not a Democratic bill, it’s a Bush administration bill improved by the Congress. Hopes for a vote Monday.
Senior House Republicans speak with reporters Sunday evening– read the transcript.
Rep. Boehner: “I’m encouraging every member of our conference whose conscience will allow them, to support this bill.”
NY Times: Congress bracing for a difficult vote on the 106-page bill.
Washington Post: The plan would give Paulson broad latitude to purchase any assets from any firms at any price and to assemble a team of individuals and institutions to manage them.
Politico: With the dollar up on foreign markets late Sunday, so were hopes for the bill’s passage.
Wall Street Journal: The bill leaves many mechanics of the operation up to the Treasury.
LA Times: Treasury Secretary Henry M. Paulson is about to become the most powerful mortgage financier of the modern era — most likely of any era.
Obama response: “Now Washington has to show the same sense of urgency in dealing with the crisis facing Main Street and the middle class by passing an emergency economic stimulus plan….” Full response here.
President Bush: “I am confident Congress will do what is best for our economy by approving this legislation promptly.” Read full statement.