Lawmakers Reach "Agreement in Principle" for Bailout Plan

It looks like the government is moving closer to passing the $700 billion bailout plan: Senator Chris Dodd (D-Conn) said, "We are very confident that we can act expeditiously." And Senator Bob Bennett (R-Utah) said, "I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president." The NY Times reports, with Thai food in the Senate and pizza for House members, that lawmakers were working on a draft of the bill. This morning, Governor David Paterson said that the bailout will probably cost more like $1 trillion, but at least it'll restore consumer confidence. (Or increase public outrage!) Congressional leaders will be meeting with President Bush and Senators John McCain and Barack Obama.