As events go, Saturday seems more sedate than it has in weeks. But it's a false calm, as Washington scrambles to find common ground on a financial rescue plan.

White House, legislators fail to teach agreement on the $700 billion financial bailout. U.S. shuts WaMu and JPMorgan grabs the assets.

U.S. commercial banks earned $5.2 billion trading derivatives in the second quarter, as the level of risk eased in the global market for the complex financial instruments, according to a government report released Friday.

Monday starts out hopeful. By day's end, those hopes are dashed, as the House kills the bailout bill and stock markets plunge to new lows.

Pres. Bush goes on TV Thursday and urges Congress to quickly pass a $700 billion rescue package for the U.S. financial system. Key lawmakers say they've reached an agreement, in principle, on the major parts of the plan.

Paulson, Bernanke back on Capitol Hill to sell the bailout. Fed coordinates with Australian and Scandinavian central banks to keep global finance running. Goldman Sachs sells $5 billion in common shares.

Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke head to Capitol Hill to sell the $700 billion bailout plan. Warren Buffett invests $5 billion in Goldman Sachs. WaMu talks to suitors about a takeover.

Euphoria fades Monday as the market digests previous days' events. Japan's Mitsubishi seeks a piece of Morgan Stanley—killing hopes for a Morgan/Wachovia merger. And NYSE adds 30 stocks to the "no short" list.

The Bush administration and Congress step up talks Sunday on an historic $700 billion bank bailout — racing the clock to stem further financial market turmoil.

Saturday begins another weekend of little rest for Wall Street or the U.S. government. A gigantic financial rescue plan is going to Congress. Democrats seek changes to the bill — including help for homeowners and a salary cap for CEOs. If the plan is approved, the government could purchase as much as $700 billion in mortgage-related assets from U.S.-headquartered institutions.

Tougher financial rules have been stymied by industry lobbying, government turf battles and a stabilizing banking system. Some analysts fear another crisis is inevitable.

The Treasury plans to re-create the Resolution Trust Corporation. Calpers says it will no longer loan out shares of  Goldman Sachs  and Morgan Stanley to short sellers. Central banks worldwide announce plans to support money markets.

Treasury officials want to require the corporate owners of the nation’s 41 industrial banks to accept more rigorous regulation or be forced to sell or shut them down.

AIG makes a deal with the Fed for loans up to $85 billion in exchange for a 79.9 percent stake in the insurer.  Barclays buys several Lehman businesses for $1.75 billion. WaMu is for sale. And the SEC announces rules against naked short selling.

On Friday, the market rollercoaster continues — and seems to end up nearly where it began. Panic in funds parallels equities. FDIC's Bair warns of more bank failures. But the SEC's short-selling ban gives financials a big boost.