Bailout Buildup

Just when it appeared the bill would pass, there comes word of a new, competing proposal from the Republicans and, possibly, McCain.

WASHINGTON (Reuters) - Negotiations toward a massive bailout for Wall Street fell into disarray on Thursday night after Democrats complained about an entirely new Republican plan, with lawmakers offering conflicting reports on presidential candidate Sen. John McCain's position.

Senior U.S. Democrats said they learned in an afternoon White House meeting that McCain is backing the new plan, which differs markedly from one that has been under discussion.

Speaking to reporters elsewhere in the Capitol, Senate Banking Committee Chairman Christopher Dodd complained that up until Thursday's White House meeting, no Republicans brought up an alternative plan for the Wall Street bailout, including during meetings and Senate hearings.

Senate Majority Leader Harry Reid said he was "a little stunned" when he heard talk at the White House about a completely new plan drawn up by House Republicans.