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Senate Democrats Pledge To Approve Bailout Plan
Topics:Henry Paulson | Banking
Sectors:Financial Services | Banks
Companies:Morgan Stanley | JPMorgan Chase and Co | Lehman Brothers Holdings IncBy CNBC.com With Wires | 26 Sep 2008 | 11:13 AM ET Font size: Two leading Senate Democrats said Congress will eventually pass a Wall Street rescue plan, and blamed House Republicans and presidential candidate John McCain for derailing an agreement on Thursday.
"We're going ot get this done—and stay in session long enough to get it done," Senate Majority Leader Harry Reid told reporters. "The time is now, for House Republicans to come to the negotiating table and for presidential politics to leave the negotiating table."
Sen. Chris Dodd, chairman of the Senate Banking Committe who appeared with Reid, also pledged to hammer out an agreement.
"This was not a (Hurricane) Gustav or an Ike," Dodd said. "It was a man-made problem. And we need to respond to it."
Reid blasted McCain, saying "the insertion of presidential politics has not been helpful."
"A few days ago i called on Sen. McCain to take a stand to let us know where he stands on the issue on this bailout, but all he has done is stand in front of the cameras," Reid said. "We still don't know where he stands on the issue."
Their comments came after President Bush predicted Congress would pass a rescue plan, hoping to reassure investors worried about the impasse in Washington over the proposal.