Bailout deal a no go; Bernanke back to Capitol
Just in. The deal is off!
WASHINGTON - Urgent efforts to lash together a $700 billion rescue plan for the national economy broke apart Thursday night, hours after key lawmakers had declared they had reached a deal.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke sped to Capitol Hill to try to revive or rework the proposal that the administration says must be quickly approved by Congress to stave off economic disaster.
Congressional leaders were to meet with the economic chiefs into the night.