Agreement reached on billion dollar bailout?

Senator Bob Bennett, R-Utah said “I now expect we will, indeed, have a plan that can pass the House, pass the Senate, be signed by the president and bring a sense of certainty to this crisis that is sill roiling in the market,” as members of both parties emerged from a two-hour negotiating session.

The outline is scheduled to be presented to President Bush and his possible predecessors Republican John McCain and Democrat Barack Obama by its negotiators later on Thursday at a White House meeting.

Mixed reports have been emerging from Washington. Sen. Chris Dodd, D-Conn. and Banking Committee Chairman, made a statement saying “we’re very confident that we can act expeditiously,” while Rep. Spencer Bachus of Alabama, senior Republican on the House Financial Services panel said “There was progress made today,” but later went on to say there was “no agreement other than to continue discussions.”

The Associated Press reported a statement from Tony Fratto, the deputy White House press secretary saying “We’ll want to hear from (Treasury) Secretary (Henry) Paulson and take a look at the details. We look forward to a good discussion at the meeting this afternoon”.