What it boils down to is that the Bush Administration wants to come up with a rescue plan for banks and other financial institutions, who are teetering under the weight of billions of dollars in bad mortgage debts.

As of late Thursday night, I hadn't seen any figures being thrown around, but one would have to assume that this isn't going to be a few million bucks.

"The root cause of the stress in the capital markets is the real estate correction," said Treasury Secretary Henry Paulson, as he threw out terms like "illiquid assets."

"We're coming together for an expeditious solution, which is aimed right at the heart of this problem," Paulson added.

The translation there is that the feds need some additional powers from the Congress to be able to undertake this effort - what exactly wasn't clear - but maybe it will be laid out in the morning papers in more detail.

Congressional leaders in both parties made clear in short statements that they want to be on board with the administration in terms of quick legislative action.

"Time is of the essence," said Speaker Nancy Pelosi.

Congress had been scheduled to wrap up work next week, with lawmakers ready to leave town for the elections.

Instead, that may get delayed into October, and even raises the specter of a lame duck session to deal with financial markets and any needed oversight and other legislative responses to this crisis.

The pleasant talk was in contrast to some of the verbal grenades launched earlier in the day by both parties.

Democrats zeroed in as best they could on the Bush administration, and to the best of their ability tried to tie it all in a neat Election Bow, by adding on the name of John McCain whenever possible.

"This is a man made disaster," said Speaker Pelosi earlier in the day, as she blasted the policies of Bush and McCain.

Even Republicans were venting their frustration, aggravated by the billions of dollars being committed to the AIG bailout.

Just wait until they get the bill for whatever is being agreed to now, eh?

Congress had been aiming at getting out of town at the end of next week for the elections, but that is pretty much on hold now.

How long they stick around will depend on a variety of things, but mainly any Wall Street legislation. For Republicans, it's probably very important to get something done in the short term, because it will help insulate them and John McCain a bit from Democratic attacks on the economic situation.

Next week, I will detail all the work that Congressional Democrats want to get done before an election break, a wish list that is seriously separated from legislative reality.

Whatever they are taking, I want some of it.