Senate aide says progress made on U.S. bailout talks

Sat Sep 27, 2008 4:05pm BST
 
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WASHINGTON (Reuters) - Staff negotiators made progress in negotiations on the $700 billion financial industry rescue plan in talks that ended very early on Saturday morning, and were to resume after a rest, a Senate Republican aide said.

Negotiators had narrowed the list of items that remain unresolved to less than a dozen, and there could be a meeting of Senate members as early as mid-afternoon on Saturday.

Talks on Thursday had collapsed in acrimony. A second day of intense negotiations on Friday between Democrats and Republicans failed to produce accord on how to structure a deal allowing the government to buy up soured assets that are choking credit.

(Reporting by Richard Cowan, writing by Patricia Zengerle; editing by Sandra Maler)

 
Lloyd Blankfein, Chairman and CEO of Goldman Sachs, participates in a panel discussion at the Clinton Global Initiative in New York September 23, 2009.   REUTERS/Chip East
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