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Dodd Open To Downpayment Idea?

Banking Committee Chairman Chris Dodd seems open to Chuck Schumer's idea of giving Treasury a $150 billion down payment on the $700 billion bailout.

"It's very important to not reject some of these ideas," said Dodd, who likened the plan to a "fenced fund" that would create a $700 billion target, with a smaller initial outlay.

Tennessee Republican Bob Corker seemed to be enthusiastic about Schumer's idea.

"Come back and talk to us when you’ve got a little meat on the bones," said Corker. "Why we don’t pass legislation that says we have a goal of 700 billion?... Bring us a fully baked concept."

Dow's down 120, four hours in.


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