Bailout Talks Stall As House Republicans Reject Deal In Washington, lawmakers negotiating the White House rescue plan for Wall Street go back to the drawing board Friday. Members of Congress thought they had a deal in place Thursday, but some House Republicans were unhappy with the package.
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Bailout Talks Stall As House Republicans Reject Deal

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Bailout Talks Stall As House Republicans Reject Deal

Bailout Talks Stall As House Republicans Reject Deal

Bailout Talks Stall As House Republicans Reject Deal

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  • <iframe src="https://www.npr.org/player/embed/95076186/95076149" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Sen. Richard Shelby (R-AL) speaks to reporters after a White House meeting to discuss the administration's $700 billion financial bailout plan, Sept. 25, 2008. Shelby opposes the Bush administration's rescue proposal. Alex Wong/Getty Images hide caption

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Alex Wong/Getty Images

Sen. Richard Shelby (R-AL) speaks to reporters after a White House meeting to discuss the administration's $700 billion financial bailout plan, Sept. 25, 2008. Shelby opposes the Bush administration's rescue proposal.

Alex Wong/Getty Images

LINDA WERTHEIMER, host:

It's Morning Edition. For NPR News, I'm Linda Wertheimer in for Renee Montagne.

STEVE INSKEEP, host:

And I'm Steve Inskeep. Maybe it's presidential politics. Maybe it's congressional politics. Maybe it's an honest difference of opinion. But lawmakers do not yet agree on that $700 billion bailout plan for the financial industry.

WERTHEIMER: This story centers around a single big meeting in Washington, and it affects everything from tonight's scheduled presidential debate to the future of the U.S. economy.

INSKEEP: NPR's Brian Naylor is following the story. Brian, good morning.

BRIAN NAYLOR: Good morning.

INSKEEP: OK, so, what happened to the agreement that lawmakers seemed to have early yesterday?

NAYLOR: Well, it was, you know, a real wild, rollercoaster kind of day. There was this unbridled enthusiasm early on that they had reached some kind of an agreement on the principles of what the administration had proposed, this $700 billion bailout package. There were few things left undone, but in general, a lot of optimism it would all be worked out at the end of the day. And then, they went to the White House and that's where things seemed to go very, very wrong.

INSKEEP: And this is the meeting that involved John McCain, Barack Obama, President Bush, congressional leaders. They thought they were going to endorse something. Instead, House Republicans stepped in and object, say they can't go along. What were their objections?