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Gregg: Confident Of Weekend Deal

Sen. Judd Gregg (R-N.H.) is not one for theatrics.

But after promising that Congress was "moving toward an agreement," Gregg laid out a bleak picture if nothing gets done on the $700 billion bailout.

"On Monday or Tuesday, Main Street America will be under dire stress," Gregg said.

He went on to discuss the possibility that student loans would be on hold, companies across America would have trouble making payroll, and people's ability to go the ATM would be in danger because of runs on banks.

How's that for a bleak Saturday afternoon outlook in the Senate?

With that dire warning, Gregg said he believed House Republicans _ the main holdouts on the bailout _ are getting on board now that their ideas are being considered.

"I can say with confidence that we've moved this thing down the road toward an agreement," Gregg said. "We're going to accommodate the reasonable concerns of House Republicans."

But when Gregg was asked whether the key House GOP principle _ government backed mortgage insurance _ would actually work to help with the economic crisis, Gregg declined to endorse the idea.

"I'm not going to comment on that," Gregg said. "I"m not an insurance expert."