We're Saved!: Congressional leaders have reached an…

Congressional leaders have reached an agreement on a bailout for the ailing financial sector. The $700 billion will now be broken into smaller, more digestible pieces. Via the Wall Street Journal: "...lawmakers agreed to legislative principles that would approve Treasury's request for the funds, but would break it into installments. Treasury would have access to $250 billion immediately, with another $100 billion to follow if needed..." The agreement also includes limits on executive pay and may direct future profits to paying down the national debt and the creation of affordable housing. [Wall Street Journal]For more stories from Curbed LA, go to la.curbed.com.

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