Washington — Congressional leaders announced they had reached a deal in principle Thursday on a proposal to bailout the financial markets, but they provided no details and it was unclear whether House Republicans would sign on.

Top leaders of both banking committees and representatives from both political parties emerged after three hours of negotiation to say they had worked out a final deal on a bill to create a facility to buy up troubled loans. But Rep. Spencer Bachus, the top Republican on the House Financial Services Committee, muddied the waters later in the afternoon by saying: "There was progress on many issues, but no agreement other than to continue discussions."

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