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. What, No Flag Lapel Pin?:

    McCain deregulated the entire economy and along with Bush's buddies, aiding and abetting the biggest ponzi scheme ever.

    Echos of the "Roaring 20s", or the late 80s/early 90s, when the Republicans ran the government and the economy into the ground, like they always do.

    In '32' it was FDR, in '92' it was Clinton and in 2008 it will be Obama-Biden.

    Democrats, (again) to the rescue.

    September 27, 2008 01:38 pm at 1:38 pm |
  2. Petro

    He is an Independent with bipartnaship!

    September 27, 2008 01:38 pm at 1:38 pm |
  3. We the people

    Don't tell know body about the rest of world taken over or come over here , that's why we have a army for that, not a good reason for this bailout . Wall street is not the only ones needing a bailout ! If every adult in America is given a million dollars that should help Wall Street as well as the debt that's racked up caring for the poor. And if this isn't a solution the explain exactly why so much money is needed for Wall Street and the consequences if not in plain English....

    September 27, 2008 01:38 pm at 1:38 pm |
  4. Charlie

    It doesn't seem to have been Senator McCain's day all week long.. He went to Washington to "fix the problem" like the "hero" riding to the rescue... Instead, it looked more like Custer riding into the Little Big Horn to fix "the Indian Problem".... Someone check that guy's mental process, I'm beginning to think that the experation date has expired...

    September 27, 2008 01:41 pm at 1:41 pm |
  5. Anonymous

    mccain caught in another LIE, they said they didn't use a prep to represent obama in his pratice for the debate, but then they said, well yes we did, they used portman, my question is why LIE about this? my quess is they LIE about everything.

    September 27, 2008 01:41 pm at 1:41 pm |
  6. jp,michigan

    John McCain returns to Washington to be the senator the American people in Arizona voted for Senate. While Obama continues to ridicule the works of McCain on the campaign trail. Well, the people of Illinois may have vote for Obama for the U.S. senate, a job he is paid for but doesn't work at. How will he work at being the president?

    September 27, 2008 01:42 pm at 1:42 pm |
  7. Scott Tucson

    Why don' Harry Reed just put it to a vote? He has the democratic majority and Bush says he will sign such a bill, so Reed doesn't need the Republican senators. Can it be that Reed knows this is a bad bill and if it goes South as it's certain to do with the Voters, the voters will then hold the democrats responsible.

    September 27, 2008 01:43 pm at 1:43 pm |
  8. Biff

    NH Mom..

    I COMPLETELY understand your feelings, loyalty, and allegiance towards Senator Clinton. As an ardent Obama supporter, I admit, she 'did', in fact best Obama in debates, and would have wiped the floor with McCain.

    Recalling the spectacular theft of the U.S. Presidency in 2000 by an 'official' count of 537 votes in Florida, I gently and respectfully urge you to cast your ballot for Barack Obama.

    Should the theft of our democracy be in the making yet again, history has proven 'our side' needs every single vote available to overcome it.

    Thank you for being a supporter of Hillary 'and' the Democratic party values.

    -Biff Biffington

    September 27, 2008 01:43 pm at 1:43 pm |
  9. Paul

    vintage obama talk. he says he wants to raise tax on the rich, while he and his fellow lawmakers try to justify giving them 700 billoin dollars. that shows he undrestands economics. althought he says he is for change but he surronds himself with the players of the past and looks to them for advice. he is dancing to the same tune as all the congressmen that has been bought and paid for, the big money people have paid for years and now they are calling in their markers and you can see who is jumping through the hoop. just another scam ran on the taxpayer

    September 27, 2008 01:44 pm at 1:44 pm |
  10. Dylan

    McWarmonger looked like he was going to blow a gasket with his anger management issue. Obama was calm and collected.

    McWarmonger and Caribou Barbie want to continue the Bush agenda of wars based on lies and profiteering for "the base" of corrupt elite lobbyists which resemble Imperialist Empire from the 18th century.

    September 27, 2008 01:48 pm at 1:48 pm |
  11. Glenn; Bakersville, NC.

    There should be no agreement if there are provisions for Executive bonuses or "Golden Parachutes" of any kind for the companies that are presently failing. We the taxpayers should not have to reward failed leadership to get them to go away.

    September 27, 2008 01:50 pm at 1:50 pm |
  12. Whats left in your wallet?


    September 27, 2008 01:51 pm at 1:51 pm |
  13. Paul

    if you guys need obama you have his number, give him a call, he has more important things to do and besides you may want a direct answer and that is not possible.

    September 27, 2008 01:51 pm at 1:51 pm |
  14. erika morgan

    Congress has no right to give the White House and its Secretary of the Treasury the power to transfer the people's money to the richest bankers in the country.

    Vote No on the Bailout legislation. The Bailout legislation is being rammed through Congress in a matter of days. This is an illegal power grab by the White House and their richest friends on Wall Street. The Legislation allows the Treasury Department to appoint the same bankers who created the crisis to administer and dictate the use of trillions of our tax dollars. It is also one of the biggest transfers of wealth from working families to the ultra-rich in the history of the United States.

    Congress should help families stay in their homes. Wealthy executives should be forced to disgorge their obscene profits, fees and bonuses that made them ultra-rich while they (actually stole money from the mortgage holders who were paying way more for the house then it was worth, and were buying way above their means) ran the economy into the ground.

    I do not actually find Wall Street and bad bank behaviour as the cause of this melt down; I see the failing dollar on the world market now about half the dollar is gone and the bail out will further depress by just printing more dollars of a decreasing value. There is the oil bought on the world market in competition with Chinese and Indians, as well as the total waste of resources in Iraq making America insupportable and our dollar worthless.

    Our government must remember, all wealth is created by the labor that creates a real capitol and that is all we should be spending money on at this time. Our money is not leveraged with actual value and we are just at the edge where this is apparent to the whole world. We are in a crash and depression we just haven't admitted it ourselfs yet. The more we shore up and pour dollars after a failed market the deeper we force the depression. The only thing that will pull us out is using the labor of our people to create capitol for ourselves again, money should be freely spent on infrastructure, green energy, reclamation of damaged homes, education, healthcare and a return to quality building that will leave a value after the final mortgage payment and for another 30 years.

    September 27, 2008 01:53 pm at 1:53 pm |
  15. Deborah Black

    Why can't they give each taxpayer, who received a stimulus check a few months ago, 1 million dollars. That would be about 300 million dollars. They are always saying that we know how to spend our mondy better than the government. Everyone could pay their bills, catch up their mortgages, send their kids to school and have money to spend and save. That would still leave a whole bunch of money of the 700 bilion if they can figure out what to do with it and not crush the taxpayer or devalue the dollar further.

    September 27, 2008 01:54 pm at 1:54 pm |
  16. Saad Khan

    Unless that old grandpa who lives in the past comes to hijack the whole process again. I mean he has got to be the most unsatisfied old timer around – whose making the whole world pay for his war mongering, archaic, short-sighted,fickle, and non-sensical fantasies. A true loser, who needs to be kept away from important places.

    September 27, 2008 01:55 pm at 1:55 pm |
  17. deb in az

    this whole mess started in the 90"s under the democratic congress and maybe the democratic congress should get their check books out.... chris dodd has no business even being involved in this legislation as he is part of the problem.....we the people should not bail out there anyone in washington that knows constitutional law anyway? our government is not supposed to own things in the private sector......are we going to get rid of the constitution now? i say no bail out, the economy will recover. these companies will be bought out in the private sector....i would suggest that all of us take a look at just who was in congress and the senate in the 90s and get rid of dodd

    September 27, 2008 01:55 pm at 1:55 pm |
  18. Ron , West Coast

    McBush had to rush back to Washington to fix the finanicial crisis , or so he said, and would`nt debate because of it ( by way of the Katie Couric Show ) well he showed at the debate, so I guess he fixed the crisis...... " Oh No , wait a minute , today is saturday , congress is still at it , so I guess his " Grandstanding Stunt , was just that , " A Stunt , and a " Photo Op "......
    McBush was so lousy in the debate friday night , I think it would have been just as well if he had`nt participated.....

    Obama / Biden 08

    September 27, 2008 01:57 pm at 1:57 pm |
  19. ANGIE

    Mccain= same old politicts same old policies mccain my way or highway

    Obama = new visions new policies new politicts obama clearly diplomatic as well as bipartisan! real change.

    at least thats what i got out of the debate last night Mccain couldnt even look at obama and truly debate so how is mccain bipartisan and diplomatic when he cant even look at his opponet

    heres the choice in this election MCCAIN= SAME OBAMA= REAL CHANGE!

    September 27, 2008 01:57 pm at 1:57 pm |
  20. Mike

    When it comes financial matters. McBush showed again in the Debate that he is clueless. When pressed by the Moderator to address Government spending. McBush blurted out almost in anger. That If McBush were elected he would immediatly suspend all Government spending except for Defense and 'Veterans Affairs". (pander). This is obviously both stupid and nuts. He could not do this and were he truly so insane, all of America would grind to a halt. No Airports, Highways or Homeland Security! This is just the kind of Rash Bad Judgement ( maverick ) that lead to putting the clueless and incapable Palin in line to be President. How at this point could any reasonable person vote for McBush??.

    September 27, 2008 01:58 pm at 1:58 pm |
  21. Marie Ontario

    Wouldn't it be nice if the ordinary person had enough economic knowledge to know if a bail out is needed and what would the real consequences be if the financial institutions had to deal with their mess?

    Maybe some Americans will finally get the message all is not great with a Conservative agenda and liberalism or socialism are not bad words but rather more policies in line with their own needs.

    September 27, 2008 02:00 pm at 2:00 pm |
  22. James cunningham

    McCain is a liar, Palin is a Liar. If you like our economy the way it is right now, then vote for McCain. If you want to change our Economy around, and if you want our Country to lead a different direction that's good for all of us, then vote for Obama

    September 27, 2008 02:00 pm at 2:00 pm |
  23. Riyad

    Political pandering by McIdiot delayed the negotiation deal.
    Can you imagine what it would be like if he sits with world leaders?
    It would be a disaster. McStupid would walk out -saying I suspend the talks – I will let my VP (no where to be found) continue with the discussions. or let me ask my oldest oldest friend Henry Kissenger.
    Please don't voter fo McPOW. We will give him a medal but not the presidency. If he dies, look who will take over-the pig, moose, caribou, dumbhead, it will be like a Zoo. Not white house-Zoo House, a vampire house, War house.
    Not miss.congeniality but the swim suit.
    If you have watch even a single interview of this Sad sad pathetic paline, you would think and think very carefully before you vote for McShame.
    Country First-My foot-McCain-you are putting lipstick before the country.
    America is beautiful as is, doesn't need lipstick.
    We have a leader fit mentally, physically, spiritually with knowledge and forthsight to lead us for better days to come.
    Obama leads by example.

    September 27, 2008 02:04 pm at 2:04 pm |
  24. TJ Johnson

    I can't stand to look at Obama either, and I am hundreds of miles away from him. Obama followed McCain around every topic last night, his eyes big and worried. Obama is simply a product of preening teams; he has no substance of his own. No Obama!

    September 27, 2008 02:06 pm at 2:06 pm |
  25. Don

    "I reserve the right as president of the United States to meet with anyone at the time and place of my choosing if I think it's going to keep the American people safe."
    Go Obama.

    September 27, 2008 02:10 pm at 2:10 pm |
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