Senate Budget Committee Chairman Kent Conrad (D-N.D.) emerged from Saturday night’s late-night pow-wow between lead House and Senate negotiators on a $700 billion Wall Street bailout bill to report that lawyers are being consulted on final language but that “several big issues” remain unresolved.
“We’re working diligently and making very good progress,” Conrad said. “We’ve just got to keep working… We’ve got several big issues left to reach conclusion on.”
Democrats and Republicans from both houses are trying to stitch together consensus on a bill before Sunday night, to reassure Wall Street before the financial markets reopen on Monday morning. Conrad said he remains confident that an agreement can be reached, but did not commit to a deadline.
“I believe we will get this done, I believe it is very clear that this has to be done. It is very, very important that we work diligently to get this done,” Conrad said. “This is serious, serious business.”
–J.T. Rushing