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U.S. lawmakers neared agreement on a massive Wall Street bailout plan on Thursday with more protections for taxpayers, giving world stock prices a boost even as data showed the U.S. economy slowing.
Lawmakers hope to reach a bipartisan consensus on a proposed $700 billion rescue for U.S. financial firms in time for a meeting at the White House Thursday afternoon.
“The idea of a rescue plan has gotten a public airing. Now it’s time for both sides to roll up their sleeves, get together in a room and hash this out once and for all,” Charles Schumer, the New York Democrat who chairs the congressional Joint Economic Committee, said in a written statement.
Do you think Congress will pass a bailout bill by its scheduled recess on Friday, continue to meet through the weekend, or give up and go on vacation?