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
My whirlwind 24 hours in Taiwan as a bridal supermodel Unlike the West, Taiwanese brides-to-be sit for hun sha ?? photo sessions before their actual wedding day. The photos are seen as a status symbol as well as a way to capture the brides' youth and glamor. More
8 startups that'll make your travel experience so much better Here are the new travel apps and services that will make trips easier, less time-consuming, and more fun for the every day business traveler. More
7 'Most American' cars Cars.com says these cars do the most for the American economy. More

Special Offer