U.S. President George Bush held a White House meeting Thursday with the two candidates hoping to succeed him in the November election to discuss the financial crisis.
Flanked by Democrat Barack Obama, Republican John McCain and congressional leaders, Mr. Bush said he expected agreement shortly on his 700-billion dollar financial rescue plan. He said something has to get done as quickly as possible or there will be serious economic crisis.
The White House meeting came just hours after congressional leaders said they have a "fundamental agreement" on a massive bailout of the troubled financial sector. Their deal includes restricted compensation for executives of failed financial firms along with strong oversight measures to prevent another economic calamity.
The chairman of the Senate Banking Committee, Democrat Christopher Dodd of the eastern state of Connecticut, said Thursday he thinks Congress would be able to pass legislation in the next few days.
But House Minority Leader, Republican John Boehner of the central state of Ohio says no final decisions have been made. Other lawmakers say they still have many concerns.