In an effort to counter the Bush administration's $700 billion dollar financial bailout plan a group of key lawmakers agreed on principles to protect taxpayers and ensure oversight.
It's a decision that comes not a moment too soon according to economics professor, Dr. Randall Parker.
Under the congressional version of the bailout , lawmakers say taxpayers would be protected and executive pay packages at participating firms will be curbed.
The final deal has not yet been set. Lawmakers said they wanted to send a message to the markets to calm down.