Bail-out plan will happen - Bush

He will continue discussions with legislators today to hammer out an agreement to ease the current financial crisis. No deal was reached last night, bur Bush is hopeful that a proposed $700bn rescue plan will be passed. Speaking today, the US President says: “Republicans and Democrats will come together and pass a substantial rescue plan.” However, Congress is thought to favour a plan to introduce a government-backed insurance policy for the bad debts held on banks’ balance sheets. Republicans are particularly concerned about the plan due to it’s huge costs and the huge role it will...