White House pressures Dems on bailout

The White House is pressuring congressional Democrats “to send a clear signal” before the markets open Monday that Treasury Secretary Henry Paulson’s bailout plan will be approved quickly and essentially as written, a senior Democratic aide tells Politico. The warning: If investors don’t believe help is coming quickly, the markets could spiral downward all over again. Asked about the pressure, White House spokesman Tony Fratto said that “there’s a very good appreciation for the seriousness of the situation and the need for this legislation.” “As last week showed, our markets are fragile right now, and it's not in anyone's interests...

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