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 giv...