Deal reached on financial markets bailout

Congress leaders, Bush administration reach tentative deal on financial bailout deal

CHARLES BABINGTON and ALAN FRAM, AP News
Sep 28, 2008 00:38 EST

Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession.

House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper.