Bailout Deal Breaks Down; Talks to Resume Friday

By: AP
By: AP
President Bush, second from right, meets with congressional leaders during a meeting in the Cabinet Room of the White House, Thursday, Sept. 25, 2008, in Washington to discuss the proposed bailout of the financial industry. Seated from left are Republican presidential candidate Sen. John McCain, R-Ariz., Minority Leader Sen. John A. Boehner, R-Ohio, Speaker of the House Rep. Nancy Pelosi, D-Calif., and Senate Majority Leader Sen. Harry Reid, D-Nev (AP Photo/Pablo Martinez Monsivais)

President Bush, second from right, meets with congressional leaders during a meeting in the Cabinet Room of the White House, Thursday, Sept. 25, 2008, in Washington to discuss the proposed bailout of the financial industry. Seated from left are Republican presidential candidate Sen. John McCain, R-Ariz., Minority Leader Sen. John A. Boehner, R-Ohio, Speaker of the House Rep. Nancy Pelosi, D-Calif., and Senate Majority Leader Sen. Harry Reid, D-Nev (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) _ Negotiators went home Thursday night, without agreement on a financial rescue plan.

Congressional leaders had said earlier there was a tentative agreement. But a revolt by Republican conservatives forced lawmakers and administration officials back to Capitol Hill.

It appeared the agreement was headed toward approval before a White House meeting also attended by Barack Obama and John McCain.
That's when it was obvious there were conflicts.

That forced the return to Capitol Hill for an 8 p.m. meeting. But the effort stalled after about two hours.

Democrats blamed the House Republicans for the apparent stalemate. Those conservatives have complained that the plan would be too costly for taxpayers and would be an unacceptable federal
intrusion into private business.

The talks are scheduled to resume Friday morning.

McCain has said he will not attend a scheduled debate with Obama in Mississippi Friday night unless there is a deal.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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