From McCain’s remarks today: I cannot carry on a campaign as though this dangerous situation had not occurred, or as though a solution were at hand, which it clearly is not. It has become clear that no consensus has developed to support the Administration’s proposal to meet the crisis. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time.
From the Associated Press: Deal said to be near on big financial bailout plan — President Bush is bringing presidential candidates Barack Obama and John McCain into negotiations on a $700 billion rescue of Wall Street as Democrats and Republicans near agreement on a bailout plan with more protections for taxpayers and new help for distressed homeowners. Senior lawmakers and Bush administration officials have cleared away key obstacles to a deal on the unprecedented rescue, agreeing to include widely supported limits on pay packages for executives whose companies benefit.