WASHINGTON - Is the financial meltdown plan in danger of melting down?
Treasury Secretary Henry Paulson has gone back to Capitol Hill tonight to try to revive or rework the 700-billion dollar financial rescue plan. His return follows a White House meeting between President Bush and key members of Congress that broke up with conflicts in plain view.
Earlier today, key lawmakers claimed agreement on an outline and crucial details of the plan aimed at staving off national economic disaster.
Congressional aides say the tentative accord gave the Bush administration just a fraction of the money it wanted up front, with half the 700 billion dollar total subject to a congressional veto. But conservatives were still in revolt, balking at the astonishing price tag and the heavy hand of government that it would place on private markets.
Alabama Senator Richard Shelby, the top Republican on the Senate Banking Committee, emerged from the meeting to say the announced
agreement ``is obviously no agreement.''
Both of Congress' Republican leaders, Representative John Boehner and Senator Mitch McConnell, also denied there was any deal.