September 18th, 2008
04:30 PM ET
10 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. Touched!!!!

    I listened to this dude give this amazing speech in New Mexico and man america let's not miss out on this great leader on november 4th. Such leaders come only once in a lifetime.

    September 18, 2008 07:48 pm at 7:48 pm |
  2. Ron from Baltimore

    McCain has left the building....goodbye!

    September 18, 2008 07:49 pm at 7:49 pm |
  3. Republican Mama for Obama

    Everyone needs to watch Obama's 'plan for a change' ad on youtube and on tv. He is what every American needs!

    September 18, 2008 07:50 pm at 7:50 pm |
  4. FreeNLovIt

    If Country is FIRST, we really need the Clintons back in teh White House...

    September 18, 2008 07:51 pm at 7:51 pm |
  5. Trysh, Los Angeles

    So is the McCain issue that Obama is a risk because he asked for more information instead of impulsively commenting with whatever he thinks the voters want to hear? Then having to change his mind and clean it up later?

    Maybe they should consider blinking before blabbing and they won't continue to look so inept.

    September 18, 2008 07:51 pm at 7:51 pm |
  6. pa.joe

    I'll take the thoughtful approach of Obama over the knee jerk reaction of McCain any day.
    Gets all the facts first then make a decision.
    Obama thinks before he acts like all good leaders!

    September 18, 2008 07:59 pm at 7:59 pm |

    Sarah what color is your lipstick?

    In what aspect, Mike?

    Game over!

    September 18, 2008 08:00 pm at 8:00 pm |
  8. EX -Democrat now for McCain

    Were so Sick of Obama lie's and name calling we could Puke!! Were democrats folks for 45 years, talk it from us folks we need McCain bad!!!

    September 18, 2008 08:01 pm at 8:01 pm |
  9. AIG

    Due to the idiot Gramm deregulating the insurance and banking industries so the could "commingle" the United States government is officially in the life insurance business. The American taxpayers officially own 79% of AIG for the price of $85 billion taxpayer dollars.

    Not to worry, McCrypt has decided we need another government "commission" to investigate!

    We truly cannot afford 4 more years!

    September 18, 2008 08:03 pm at 8:03 pm |
  10. Hip Hop for Obama

    Trysh, Los Angeles? AMEN!!

    September 18, 2008 08:05 pm at 8:05 pm |
  11. Teddy California

    Both sides have changed positions. At first, both Campains said tax money should not be involved. But after the government rescue, both campains did not object to the solution.

    Now, McCain campain proposed to create a Resolution Trust Corp. to take care of all the bad loans. I believe Obama campain will also propose something similar tomorrow after he meets with his economic advisors tomorrow in Miami. By the way, if some other creative solution other than a Trust is proposed by the administration, both campains will accept it.

    Obama campaind does not need to do that much to get the benefits from the financial crisis. But the crisis might be over soon and then most people will forget the crisis by the election day and the election will still be very close.

    By the way, Republicans are supposed to support small governments. But in practice, they supported government intervention too. Reagan supported the rescue of the Auto maker Chrysler. Bush Sr. supported creating of the Trust for solving the S&L problem. Now, Bush Jr. will support government takeover of a lot businesses: mortgage loans.

    Therefore, ther are not much differences between Democrats and Republicans on this issue!!!

    September 18, 2008 08:06 pm at 8:06 pm |
  12. David

    To: John Kaleto
    Posted: September 18th, 2008 6:48 pm ET

    Just who are Obama's "top economic advisors", George Soros, Cindy Sheehan, and James Carville?

    Actually John, his two primary economic advisers are:

    Paul Volker – Fed Chairman under Ronald Reagan

    Warren Buffet – The second richest man in the world

    Personally I will go with their wisdom over yours any day.

    September 18, 2008 08:07 pm at 8:07 pm |
  13. Selling Jets on Ebay(TM) for America

    Your comment is awaiting moderation:

    CNN-speak for Gosh, what you submitted had BETTER be in support of Obama or else.

    RIP journalistic integrity

    September 18, 2008 08:08 pm at 8:08 pm |
  14. Larry

    BUSH is REALLY BAD !!! OBAMA is REALLY BAD !!! Two wrongs don't make a right !!!

    September 18, 2008 08:09 pm at 8:09 pm |
  15. David E for Obama/Biden

    I have to give it to the right-(well not all..Sen. Hagel is an exception)–they really do give Oscar-worthy performances when it comes to defending Palin's foreign policy experience or how McCain's economic plans are exactly what we need now.

    Yeah. Sure. That dog don't hunt.

    September 18, 2008 08:10 pm at 8:10 pm |
  16. The Nightingale Sings in Berkley Square

    September 18th, 2008 8:03 pm ET
    Your comment is awaiting moderation.
    What a trio Harry Reid, Nancy Pelosi and Barack Obama. If they ever get into office all the same time "God help America."

    They remind you of the three stooges?

    Obama, according to CNN is using 77% of his ads as negative. Imagine that . What a dirt ball he is.

    Liked the McCain rally today in the stock market . Obama bad mouths the economy while McCain tries to put a positive spin on it. It does no good to bad mouth America, Mr. Obama. You are the one who insulted Mid Westerners and women.

    September 18, 2008 08:14 pm at 8:14 pm |
  17. John McSame as Bush.

    Mike in NY: Keep on hiding under your bed and waiting on the missles from russia buddy, we'll let you know when its safe to come out...

    September 18, 2008 08:14 pm at 8:14 pm |
  18. Harmony

    A smart person waits for all details are known before they take a position. A foolish person speaks strongly about a topic that they do not have all the facts on, later having to retract thier position. You decide which one is smart.

    September 18, 2008 08:16 pm at 8:16 pm |
  19. McCain is Clueless

    McCain stated today that he will not tell us the specifics of his economic plan for America until after he is in the White House. I guess then we won't ever know what any of his true positions on any issues important to those of us facing financial difficulties because there is no way anyone would vote for a moron candidate who refuses to discuss the issues and only speaks up in disgraceful, baseless attack ads on Obama. McCain will never see the inside of the White House in any leadership position. His ignorant running mate can then go back to Alaska and face the corruption charges of abuse of power that is so obviously guilty of. Maybe too she can do something to clean up the mess within her own family before she tries to tell everyone else how to run theirs. McCain is too old and out-of-touch and Palin is totally unqualifed to be anything. Thanks McCain. You make every day an ever-widening gap in the polls. Obama will be our next President as he should be. He and Biden are the only leaders with character, integrity and real plans to help average Americans.

    September 18, 2008 08:18 pm at 8:18 pm |
  20. Larry

    PEOPLE......IT'S the DEMOCRATS in congress that you elected that have got us in this trickbag.DON'T BELIEVE THE LIES.

    September 18, 2008 08:21 pm at 8:21 pm |
  21. Tell It Like It Is

    What does the teleprompter say?
    Where is the teleprompter?
    Who's responsible for the teleprompter?

    September 18, 2008 08:23 pm at 8:23 pm |
  22. Michael

    Everything he says is a lie. McBush is like a live Lie Factory. Yesterday McOld says that the man who Obama chose to Vet Biden worked for Fannie Mae. But McBomb left out that he worked for Fannie over ten years ago. Back when working for Fannie was a compliment.
    McLiar also complained that Fannie gave money to Obama. Yes, Fannie had a little over a million dollars in tax deductable donations. Slightly over half of this money was divided amoungst the campaigns of several Dems. The rest went to Republican candidates. McBush is all smoke and mirrors and no substance.

    September 18, 2008 08:24 pm at 8:24 pm |
  23. Margaret - sacramento CA

    Wake up american people and see the real leader. McCain/Palin have coopted the montra of Obama. Obama for change, Mc Cain for change, Obama tax cut = Mc Cain tax cut. McCain seems to follow Obama. The real leader for this country is obvious. Enough is Enough! oops! McCain/Palin say it again

    September 18, 2008 08:27 pm at 8:27 pm |
  24. e.j.mohammed

    I think McCain is getting a little more senile everyday! He changes from one thought to another and can't seem to remember what he's said!
    Palin aged in 2 weeks also she still keeps using the same stump speech with little revisions! How gullible do they think we are!!

    September 18, 2008 08:33 pm at 8:33 pm |
  25. Independentandlovingit

    "Congressional leaders who give Senator Obama his marching orders are now saying incredibly that this mess isn't their fault, and they aren't going to take any action on this crisis until after the election," McCain said at an Iowa campaign stop.

    But on Tuesday, when asked how much worse the economy would have to get before the campaign released a specific plan, McCain senior adviser Doug Holtz-Eakin said that it wasn't "imperative" for an "exact" plan to be drawn up yet.

    "I think the moment when we write down a specific plan is the moment we send legislation from a McCain administration to Congress. That's the moment when that happens," he said.

    September 18, 2008 08:33 pm at 8:33 pm |
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