Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

15 of 33
BACKNEXT
Saturday, Sept. 27 - Bailout breakthrough
After a late-night bargaining session, negotiators resumed talks Saturday afternoon over the $700 billion bailout plan with fewer than a dozen "unresolved issues" remaining, according to a senior administration official.

Signs of progress appeared early on from both Republican and Democratic lawmakers who said they were shooting for a deal by Sunday.

But a group of House Republicans said they would not be held to any "artificial timelines." Still, they remained confident a deal could be reached that helped the financial system but protected taxpayers.

Negotiators had talked by phone with billionaire investor Warren Buffett for guidance, and according to two sources, he warned if congress did not act, the nation would face the "biggest financial meltdown in American history."

Finally after midnight, congressional leaders said they reached a tentative deal and were aiming to craft final legislation by Sunday evening - in time for the start of financial markets around the world.

Key points included who would oversee the program, when the money would go out, government stakes in companies to mitigate taxpayer losses and curbs on executive compensation.

NEXT: Sunday, Sept. 28 - Hard-won agreement

Last updated September 14 2009: 2:19 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
11 tasty treats to bring back from a business trip Nothing is as crowd-pleasing or pragmatic as edible souvenirs. We've found foodie gifts that are both delicious and distinguished in 11 popular business destinations. More
15 women who founded $1 billion startups Meet 15 women behind some of the world's hottest startups. More
Here are 27 ads Russian trolls bought on Facebook and Instagram The House Intelligence Committee on Wednesday released some of the ads a Russian troll farm purchased on Facebook and Instagram during and after the U.S. presidential election. More

Special Offer