Tuesday, September 23, 2008

Paulson, Frank near bailout deal; Senate holds critics

House Financial Services Committee Chairman Barney Frank (D-MA) said Treasury has agreed to greater oversight and pledged to use its added leverage in the mortgage market to help homeowners confronting foreclosure. Faced with bipartisan pressure, Treasury Secretary Paulson is also backing away from his opposition to capping pay for Wall St. execs.

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