September 18th, 2008
04:30 PM ET
6 years ago

Obama strikes back over McCain AIG attacks

Barack Obama criticized John McCain Thursday, over his position on the AIG bailout.
Barack Obama criticized John McCain Thursday, over his position on the AIG bailout.

ESPANOLA, New Mexico (CNN) – The economy remained the focus Thursday as Barack Obama continued to criticize John McCain for not being consistent in his response to the staggering financial roller coaster this week.

Watch: 'McCain's stealing my lines,' Obama says

“On Tuesday, he said the government should stand aside and allow one of the nation’s largest insurers AIG, to collapse, I mean he said this in three different interviews despite the possibility that it would put millions of Americans at risk,” Obama told a crowd of thousands at a northern New Mexico rally. “But by Wednesday, he changed his mind. And today he accused me of not supporting what the Treasury and the Federal Reserve Bank did with AIG, despite no evidence whatsoever that that’s what I had said.”

Watch: Obama questions McCain's position on the AIG bailout

The McCain campaign seized on Obama’s comments Wednesday that not enough “details” were known about the “arrangement with AIG and the Federal Reserve” to criticize the Democratic nominee for not taking a solid position on the deal. Obama also said the deal “must not bail out the shareholders or management of AIG.”

Obama plans to meet with his “top” economic advisors tomorrow while he is in Miami to discuss further economic proposals. During his remarks here, Obama said he would work to pass what he called the “Homeowner and Financial Support Act” which would “establish a more stable and permanent solution” and help provide “liquidity” and “capital to the financial system.” This act would also help homeowners “restructure” mortgages to try and avoid foreclosure.

The Obama campaign will continue to keep the economy front and center on the trail, using the issue to paint McCain as out of touch and shifting positions for political expediency.

“He has consistently opposed the sorts of common sense regulations that might set out some rules of the road for these financial institutions have lessened the current crisis,” he said. “Except now, with the magnitude of the crisis apparent even to the Bush White House, John McCain wants to reverse himself, he wants to reverse course. Now, all of a sudden, he has become a populist now he’s unleashed an angry tirade against all the insiders and lobbyists who happened to have supported him for twenty-six years … John McCain can’t decide whether he’s Barry Goldwater or Dennis Kucinich.”

Filed under: Candidate Barack Obama • John McCain
soundoff (164 Responses)
  1. Eileen

    Keating 5, How many years ago and he was cleared and worked tirelessly to clean up Government. Also, deregulation occured during the Clinton years with Democrates also voting in support. Are the Democrates' minds slipping(which I am one) or John McCain's?

    September 18, 2008 07:19 pm at 7:19 pm |
  2. al in tennessee

    Yet another example of putting thought into something before your open your mouth. We want a president who thinks and not one that can give sound bits at a moments notice.

    Why else would the McCain campaign critize Obama for not having a stand on the aig issue - they think leadership is being the first to comment. Leadership is call USING JUDGMENT to get it done the right way.

    September 18, 2008 07:21 pm at 7:21 pm |
  3. franky1dog

    If there was anything to the Keating 5, it would have come out already. A committee found that McCain did nothing wrong.

    September 18, 2008 07:22 pm at 7:22 pm |
  4. h k savla

    Best thing to do in present situation

    to have Barak Obama and Sarah Pelin as president and VP, and retire both the Joes , avoid election, and spend that time and energy to put financial system in order.

    Barak- Sarah team will be young and energetic to meet new challenges. Good luck to them and God bless USA.

    September 18, 2008 07:23 pm at 7:23 pm |
  5. Terry, NJ

    And what did Obama say about AIG until he had something someone else said to work with(See Debates with Hillary). Nothing.. As usual. Except the same old non-nutritional sugar rhetoric. Empty Suit. Go back to Chicago!

    September 18, 2008 07:23 pm at 7:23 pm |
  6. JOHN


    September 18, 2008 07:24 pm at 7:24 pm |
  7. Patty

    Why didn't he support the Federal Housing Enterprise Regulatory Reform Act of 2005. The news media needs to start doing thei jobs and find out WHY

    September 18, 2008 07:24 pm at 7:24 pm |
  8. Ohio

    Who are these people that have run these big companies in the ground and leaving the tax payer holding the bag? Why aren't there names being put out there so we can see who is responsible for all of this greed.

    September 18, 2008 07:24 pm at 7:24 pm |
  9. Marilyn Meyer

    I can't even find the words to express my disgust with the Bush administration and the unfortunate direction America has headed . Sadly, my 83-year old mother had investments in AIG to supplement her income. Like many, returning to the work place just to make ends meet is NOT AN OPTION! I pray every day that the democrats win this election. Obama/Biden '08!!!!!

    September 18, 2008 07:25 pm at 7:25 pm |
  10. Mike

    Today mcBush said that if he were President he would fire the Chairman of the SEC. Silly McRabbit, tricks are for kids and Republicans. The President cannot fire the Chaiman of the SEC. Think before you lie old man, think !

    September 18, 2008 07:25 pm at 7:25 pm |
  11. eddy

    the best thing i can do for this country and the rest of the world is not to allow this brain dead mc cain to go to the white house by voting Obama 08

    September 18, 2008 07:25 pm at 7:25 pm |




    September 18, 2008 07:26 pm at 7:26 pm |
  13. judyc

    If we waited until we had all the facts–we wouldn't be in Iraq.

    I want an intelligent, thoughful president this time around.

    September 18, 2008 07:27 pm at 7:27 pm |
  14. Mike

    Please McIdiot. First You said no Bail out. Then you flipped and were for it. If you were more prudent in your rushing to judgement like Obama is. Then you would not be constantly flip flopping and then lying to cover it up.

    September 18, 2008 07:28 pm at 7:28 pm |
  15. joan

    Go Obama Go!!
    This is just getting better and better. McCain/ Palin are just looking dumber and dumber.

    You have to love it Democrats!!

    September 18, 2008 07:31 pm at 7:31 pm |
  16. Lesley

    Of course, McCain jumps out and makes a statement before all the facts are known, as he did with the crisis in Georgia. Obama first wants to know all the facts and then makes a determination. That approach will lead to a better decision every time, taking all aspects into consideration and making an informed decision. McCain still has not put out his economic plan and now his campaign says they won't do it until after he is elected, that it's not necessary to explain it to the public before we vote. With voter ballots in a flux because of registration problems, I fear the outcome of this election.

    September 18, 2008 07:32 pm at 7:32 pm |
  17. the other jd

    McCain was against the bailout (FLIP)
    Until he was for it (FLOP)

    Just like he was against torture (FLIP)
    until he was for it (FLOP)

    September 18, 2008 07:33 pm at 7:33 pm |
  18. Voter

    The main problem with McCain is be makes decisions b4 thinking about them for a while or gathering information...

    McCain rolls the dice (wins BIG, loses BIG)

    Obama looks at his cards, THINKS and then makes a decision (trends up and down)

    September 18, 2008 07:33 pm at 7:33 pm |
  19. Paula Lacey

    Joe Biden is more qualified to be President than McCain, Palin, and yes even Obama. Obama was thinking Country First when he picked Biden, not who can energize my boring campaign.

    September 18, 2008 07:34 pm at 7:34 pm |
  20. Texas Witch Twister


    September 18, 2008 07:34 pm at 7:34 pm |
  21. Mike, Syracuse NY

    Silly McCain. Did he really expect Obama to say anything not on a telepropter and staffed for a week first? Notice Obama STILL has not given a position on the AIG bailout. God help us on those 3 AM phone calls if someone wants Obama to make an on the spot decision when Russian missile are coming in. He'll need his telepropter first. Obama is a disgrace. The Dems reached bottom and started digging when they nominated (or appointed) him. He is a false god. Stop kissing his feet.

    September 18, 2008 07:34 pm at 7:34 pm |
  22. john

    this guy is the asnwer for November 4 thats all i can say. Mccain stop flip floping idiot

    September 18, 2008 07:35 pm at 7:35 pm |
  23. Cynthia - Arkansas

    McSame & Failin don't have a clue on the economy or anything else. The more they talk, the more people can see that for themselves. Everything is Obama's fault. Everyone is picking on them. It is really getting pathetic. Of course, they can just make up some more lies, to go with the lies they've already told. The media is starting to call them out on all the lies. Finally!

    September 18, 2008 07:36 pm at 7:36 pm |
  24. Reality

    Please Obamabots. Obama just promised to create legislation – sorry, the President does not DO THAT. That legislation has a fancy name and basically will "fix everything."


    See past the lies.

    September 18, 2008 07:43 pm at 7:43 pm |
  25. TONY

    McCain is circling the drain.

    September 18, 2008 07:47 pm at 7:47 pm |
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