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Fri 09 Sep 2008White House and Congress move closer to rescue package
THE US government has moved closer to a landmark deal to inject up to $700 billion into the financial system by sweeping up "toxic" mortgage assets from vulnerable banks, as Democratic and Republican leaders reached agreement on a "set of principles" for the rescue package.
Agreement on the plan, the biggest US government intervention since the Great Depression, came hours before congressional leaders met at the White House to discuss the deal with President George Bush and presidential candidates John McCain and Barack Obama.
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