Schumer, Kyl expect bailout agreement

WASHINGTON, Sept. 21 (UPI) -- U.S. Sen. Charles Schumer said Sunday taxpayers would be protected if the federal government receives warrants to buy equity in companies selling off assets.

Schumer of New York, a member of the Democratic Senate leadership team, said in an appearance on "Fox News Sunday" he has discussed the option with U.S. Treasury Secretary Henry Paulson.

"I'm looking at something, and I've talked to Paulson about this -- warrants that would put the federal government first," Schumer said.

Senate Republican Whip Jon Kyl of Arizona, also appearing on the program, predicted along with Schumer that federal lawmakers would resolve their ideological differences over how best to shore up the nation's financial markets and were likely to pass a bill by the end of the week.

"I think the chances are better than 50-50 that we'll get it done by the end of the week and, hopefully, it won't be bogged down with too many extraneous and costly provisions," Kyl said.