September 27th, 2008
12:00 PM ET
10 years ago

Senator in financial talks expects agreement by Sunday

Sen. Judd Gregg said he expects an agreement by Sunday.

Sen. Judd Gregg said he expects an agreement by Sunday.

WASHINGTON (CNN) - A New Hampshire senator who is helping negotiate a bailout agreement for the finance sector said Saturday he expects a single proposal to be hammered out by Sunday.

Judd Gregg of New Hampshire said the negotiating team planned to meet late Saturday afternoon.

"Senator (Chris) Dodd and I talked about this a lot and the basic understanding is that when we get in that room as principals we will stay there until we reach an agreement, or if we can't reach an agreement ... we'll stay until we've done something" to address the issue "in a comprehensive and
effective way, hopefully," he said.

"The progress we're making is good and I can say with some confidence that we've basically moved this thing down the road a long way toward reaching an agreement," Gregg added.

He and Senate Minority Leader Mitch McConnell of Kentucky appeared together at a news conference where McConnell added, "The goal would be to announce an agreement tomorrow and have the vote on Monday."

Filed under: Congress
soundoff (117 Responses)
  1. chuck

    Unless McCain arrives and brings disaster with him.

    September 27, 2008 12:59 pm at 12:59 pm |
  2. Muz

    it's all because of mccain haha

    September 27, 2008 12:59 pm at 12:59 pm |

    Another Big Mistake.

    September 27, 2008 01:00 pm at 1:00 pm |
  4. USAF Staff Sergeant

    If McCain returned to Washington to work on the bailout, I wonder if he was able to look anyone in the eye.... or if he turned away from everyone like a scolded puppy as he did last night when he was clearly intimidated by being on stage with Obama.

    September 27, 2008 01:00 pm at 1:00 pm |
  5. linda from South Dakota

    well, letds wait and see if this plan they perpose helps out the american people in ares that are needed,,,,, its time the congress and senators give up their wants and needs for what the american people want and need,,,, one thing thats cool,, mccain isnt there,, seems he cant help himself on comments that dont have anything to do with this plan,,, they are comments that help him out,, (his pocket) dont forget the 13 cars and 7 homes,,, (so far),,,, make him(mccain ) pay for his own insureance all the wa around and watch him squeal... umm

    September 27, 2008 01:02 pm at 1:02 pm |
  6. David Goldman for OBAMA




    September 27, 2008 01:08 pm at 1:08 pm |
  7. NH Mom

    All I could think was that Clinton would have easily beat both men in the debate last night. If only the Democratic superdelegates had selected the primary voters did

    I'm still split on voting for Clinton as a write-in and voting for Obama (and only because I live in a swing state would I vote for someone other than Clinton).

    September 27, 2008 01:11 pm at 1:11 pm |
  8. Jack

    Since John McCain has voted to support George Bush's positions over 90% of the time in the past 8 years, he has a clear responsibility for the current financial mess.

    John McCain insists on being part of the solution only to protect the interests of the wealthy elite like himself and Cindy.

    September 27, 2008 01:14 pm at 1:14 pm |
  9. Jack

    This whole mess might have reached consensus already if not for the political grandstanding of John McCain. Old John had to get back to Washington to get a photo op even though he doesn't have a clue as to what is going on in the financial world.

    John keeps bringing up Ronald Reagan suggesting that "trickle down" is still a viable economic strategy much like Herbert Hoover back in the 1920's.

    September 27, 2008 01:15 pm at 1:15 pm |
  10. CD

    If McBush had not used this situation as a desperate photo-op, the deal would've been done yesterday. He should've went to the UN with his VP selection.

    September 27, 2008 01:19 pm at 1:19 pm |
  11. Cmoor

    Oh great Dodd who made money from fannie and freddie who is chairman of the financial committie that let this happen to us. Yeah I feel so much safer. How do we know these guys did not engineer this whole financial crisis that conveniently happens at election time.

    Dodds been there over 8 years like Rankel in the tax committie. Seems very oppertune a stunt like this. And And not only does the chairman face no questions about his failure with a capital F but neither does Frank. I think they negotiated with the Repbs. about drilling said look guys we wont do this anymore fingers crossed and we'll give you drilling . Obama owes these Dems big time they gave him this oppertunity heady stuff. but what about Mc Cain ? Just a thought maybe we taxpayers should start dumping tea in the harbor

    September 27, 2008 01:21 pm at 1:21 pm |
  12. VoiceofAmericans2008

    As congress sells USD – we are slicing/dicing Debate on an election that will probably be stolen – talk about distraction for Joe 6 Pack! Great – all this happening behind closed doors with no public record and/or hearings to watch for Taxpayers to communicate their concerns to their "elected officials".
    But fear not, the LOBBYISTS are right there in with our Congress right now protecting THE BANKING INDUSTRY.

    Democracy @ work in the USA 2008.

    September 27, 2008 01:22 pm at 1:22 pm |
  13. Look Me In The Eye

    A Scalpel, not a Hatchet

    Obama/Biden 08

    September 27, 2008 01:27 pm at 1:27 pm |
  14. Brian loves Palin

    The year Journalism died and the year Free Capitalism died if Obama gets elected and we became a country much more like Russia then during the era of Reagan.

    Country we better unite around Palin and McCain soon or we are going to lose our power and it is going to be We the Barack.

    Socialism truly sucks, I know I lived in Canada where it is tough to find a job when government regulates and taxes the hell out of you.

    Believe me when Barack says he is going to give 95% of you tax cuts, he is lying. 40% of us don't even pay tax and I have never known a liberal, especially one as liberal as Barack that is able to cut anything especially taxes and spending.

    Once there is too much government, good luck reducing it, and they will justify increasing your taxes to keep it big.

    Good bye to all the smart businesses that will be leaving this country and good bye to Free Market Capitalism as we once enjoyed it in the once great country of the US of A.

    McCain Palin and Hillary supporters 2008

    September 27, 2008 01:27 pm at 1:27 pm |
  15. Lynn: 60 yr old white Obama supporter

    McCain is in Washington because Palin is busy cramming for the VP crowds!!

    Obama's willingness to give some credit for McCain sometimes being right indicates a nability to work in a bipartisan manner.

    McCain's inability to look Obama in the eye even when they shook hands at the end indicates a person not very proud of himself.

    McCain's idea of a "League of Democracies" is twentieth century thinking and will NOT be a success. More discussion of this needs to occur.

    September 27, 2008 01:27 pm at 1:27 pm |
  16. JD in NC

    Any news on whether Firday's disruption was about actual complaints, or whether it was done to justify McCain's behavior? Interesting that the revolt was spearheaded by politicians from deep-Red states who aren't really risking re-election by delaying the process.

    September 27, 2008 01:29 pm at 1:29 pm |
  17. dirk shea

    For the duration of the Bush Administration they kept trying to debate wether or not we are even in a recession and in the course of a week the sky is falling? They need 700 billion to a trillion dollars so we the taxpayer can wipe the bad debt from wallstreet. Come on.
    Now we are either facing a huge economic collapse and the destruction of the dollar like Congressman Paul has been saying for years, in which case if this bailout goes through then the administration, those in government appointed positions at the Federal Reserve, and all the Congressman involved in banking, and economic oversight need to resign due to their blatant negligence and the misrepresentation of this problem to the american people.
    The other possibility...let em fail. The banks and wall street have screamed for decades for deregulation in the market. This is what happens as a result. They have made record profits for the better part of two decades and now that their chickens have come home to roost they want the safety net of the american taxpayer. No way.
    One thing is for sure, this will be the most important vote in congress since the iraq war began. Those who vote in favor of this bailout will and should face a political reconing. As McCain says in his bland speeches, "they will be made famous, and we will know their names..."

    September 27, 2008 01:29 pm at 1:29 pm |
  18. JB

    For all you Obama fans (or should I say Myspace subscribers) look inot how many changes occurred once Obama decided to run.

    He stopped interacting with a felon (Rezko), he "suspended earmarks", he had other dems add his name to legislation.

    We all know this type of person. Someone who does nothin until he realizes he is going to be called on it. Then he pretends to do stuff!

    He never wrote any piece of legislation. He only "sponsored" legislation nce he started to run.

    I don't want someone in office who never did something because it was right, only because he realized he HAD to.

    A law degree does not make a president. If he is elected, we are going to see a train wreck, and you won't see another dem controlled Pres or Congress for a very long time.

    He isn't ready, and needs to show more. This is not American Idol people.

    September 27, 2008 01:30 pm at 1:30 pm |
  19. McCain is too old

    Must be because McCain isn't fumbling around the hill.

    McCain is a grumpy OLD man and not fit to be leader of the country. You republicans are unbelieveable...but what do you expect of a political group stupid enough to vote for Bush!!!

    September 27, 2008 01:31 pm at 1:31 pm |
  20. Penn State Student

    Obama come do the job you were actually hired to do!

    McCain clearly has taken leadership for the good of America while Obama continues to act like a circus leader selling his entertainment from state to state.

    The arguement that McCain may have stalled a deal is about the most naive arguement from Obamas camp and supporters yet. It goes to show you they have no idea what the American people want which is No Bail Out. If McCain did not go to D.C. the American tax payers would already have signed their life off on 700 billion dollars of taxes.

    Nice try...You can't have it both way Dems. McCain either stopped the bill from happening which is a GOOD thing...Or he went to D.C. to shake things up so a new bill would be hammered out that would include tax payer protections.

    Tell your leader we will call him if we need him.....

    September 27, 2008 01:31 pm at 1:31 pm |
  21. jj

    There are several better proposals and congress needs time to study the
    alternatives. However, the Bush administration created their proposal by
    starting with their solution instead of starting with the problem. Their
    rationale does not fit their solution. If the problem is freezing up credit for
    Main street or the housing market, why bailout Wall Street plunders/blunders?
    Instead loan to Main street banks or buy home mortgages from
    banks at a discount approximately equal to the drop in the value of homes in
    each state. I don't trust the former Wall Street marketeers in the Bush adm or
    the NY or Conn members of congress helping out their rich constituents at our

    September 27, 2008 01:33 pm at 1:33 pm |
  22. Matt

    Today is Sep. 27, 2008 and it is 12:30 pm CST, McCain is in Washington DC working for a resolution on the bailout for the American people, Obama and Biden are in NC working for themselves trying to get votes. Looks like obama realy cares about the people. GET IN DC AND GET THIS THING FIXED.....

    September 27, 2008 01:33 pm at 1:33 pm |
  23. Dan J

    Where's Obama? McCain flew to Washington due to this crisis, which Obama emphasized last night. Oh wait! He's in North Carolina, defending his debate responses. Country first? All talk, no action? Come on, Obama! Act Presidential if you want to be President!

    September 27, 2008 01:35 pm at 1:35 pm |
  24. Biff

    I have never witnessed a more petty and juvenile display such as the display of complete and utter pettiness by McCain by refusing to even look at Obama before, during, and even after the debate.

    When public displays of disrespect for your opponents position as Presidential Nominee of the opposition party becomes political STRATEGY, (as a code for... he's not worthy to be standing next to me... he's not one of US)....

    then THAT person.. (McCain) has shown HE is not worthy to lead the greatest country in the history of mankind.

    September 27, 2008 01:36 pm at 1:36 pm |
  25. Nat, NYC

    Who does need this deal? Not 3/4 of smart and honest Americans. Other 1/4 is just stupid and hopeful to get some deal on their defaulted mortgages or return some money they lost on Wall street.

    September 27, 2008 01:37 pm at 1:37 pm |
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