US Rep. Frank says bailout legislation will pass

WASHINGTON, Sept 24 | Wed Sep 24, 2008 9:26pm EDT

WASHINGTON, Sept 24 (Reuters) - The chairman of the House Financial Services Committee on Wednesday said it is "clear" there will be enough votes to pass a broad Wall Street bailout bill.

"Earlier today it became clear to me we would get the votes to pass this bill," said Rep. Barney Frank, a Massachusetts Democrat, who was interviewed on CNBC.

Frank said it could take a few days to craft a final bill.

Asked whether the bill will have provisions on executives' compensation, Frank said: "I know we have to do something about CEO compensation. House and Senate Democrats have some good agreement on this." He added, "We are going to say no golden parachutes." (Reporting by Richard Cowan and Thomas Ferraro)

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