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Close on bailout deal

NY Sen. Charles Schumer says he hopes to have a bipartisan consensus on the rescue package sometime this afternoon. And Rep. Paul Kanjorski tells CNBC that "I'm more optimistic this morning than I've ever been." He says the bailout bill is "almost a done deal." There is a sense of urgency about getting a plan in place as soon as possible - both because of the potential Wall Street fallout but also because of presidential politics. Democrats obviously don't want John McCain to swoop in and try to get credit for getting the compromise, as he most assuredly will. Investors appear to be betting that a deal is close - the Dow is up 131 points in early trading.


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Recent stories on LA Observed:
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