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| US agrees to Wall Street bail-out | |
| (10 minutes later) | |
| Both US parties in Congress have reached agreement on the outline of a $700bn (£380bn) bail-out plan to revive the financial sector. | Both US parties in Congress have reached agreement on the outline of a $700bn (£380bn) bail-out plan to revive the financial sector. |
| Leading Democrat Senator Christopher Dodd said they had reached "fundamental agreement" on the package though he did not reveal details. | Leading Democrat Senator Christopher Dodd said they had reached "fundamental agreement" on the package though he did not reveal details. |
| He said Congress could act in the next few days to pass a bill on the subject. | He said Congress could act in the next few days to pass a bill on the subject. |
| The plan is aimed at helping finance firms offload their bad debt, which has triggered a global credit crisis. | The plan is aimed at helping finance firms offload their bad debt, which has triggered a global credit crisis. |
| "We now expect that we will have a plan that can pass the House, pass the Senate and be signed by the president," Senator Robert Bennett of Utah said after meetings with lawmakers on Thursday. | "We now expect that we will have a plan that can pass the House, pass the Senate and be signed by the president," Senator Robert Bennett of Utah said after meetings with lawmakers on Thursday. |
| Details of the package were not immediately available but it is expected to include limits on executives' pay as well as oversight requirements. | Details of the package were not immediately available but it is expected to include limits on executives' pay as well as oversight requirements. |
| The news comes as President George W Bush is set to meet both presidential candidates, John McCain and Barack Obama, to discuss the bail-out and how to revive the economy. | The news comes as President George W Bush is set to meet both presidential candidates, John McCain and Barack Obama, to discuss the bail-out and how to revive the economy. |
| The benchmark Dow Jones index has risen sharply on the news, adding 3%, to 11,128.7. |