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. Charlotte

    At least it is good to see someone doing their day job. Where are Obama and Biden? This whole bailout is scary. I got out of the stock market before the first melt down in 2004. The election was close and I knew Gore was going to lose. Kerry was and is a jerk who also lost. We already knew how bad Bush was, yet Kerry could not beat him? Obama will lose also, and we have had 8 years of garbage. Why the DNC continues to put losers on the ticket is beyond me. We had a shot this year, but Obamas' "urgency of now" got in the way I guess the "urgency of now" only pretains to his ambitions? He said we need more of a sense of urgency on the economy. I don't know how much more urgent it has to get for him to realize it. This country is in big trouble and it will get worse. WAMU goes bust, how many more banks have to go belly up for Obama to see the urgency"

    September 27, 2008 02:37 pm at 2:37 pm |
  2. Les

    Does anyone find it scary that a huge portion of this country actually finds the old white angry guy that lives in the past, with a cellophane wife trying to look 1/2 her age but not succeeding and a v.p. candidate that can't formulate proper sentences appealing? What's scarier is that everytime a republican is interviewed they look plastic and unreal. Conservative religion should be in the DSM as a mental illness because their followers don't seem to be able to think for themselves. Isn't this how Hitler conned his people into thinking the arian race is better?

    September 27, 2008 02:37 pm at 2:37 pm |
  3. jimmy


    September 27, 2008 02:38 pm at 2:38 pm |
  4. Gary Chandler in Canada

    Has America redefined the word 'gorgeous'?
    Hill, Campbell, Bash,Malveaux EVEN Cooper (to name a few) now that IS georgeous.
    Palin? no and HER VOICE!!!!!!!!

    September 27, 2008 02:38 pm at 2:38 pm |
  5. bg

    McCain has not entered into dicussions with anyone else other than House Repubs...yet he is going to try and take credit for the bailout. The House Repus wanted to introduce a proposal that wants to give corporations more tax cuts and continue to reward them for what they did to out economy. McCain is not part of the actual negotiations according to many sources...only House Repus. Just because he is Washington does not mean he is part of moving the proposal forward...kinda like trying to infer that Palin has foreign policy experience because she can see Russia from Alaska. What a joke! Obama has been in constant contact with prominent people involved in the process WITHOUT having to land in Washington and throw everything into a downward spiral...these negotiations are TOO delicate to impose presidential politics into them. McErratic...not maverick.

    September 27, 2008 02:39 pm at 2:39 pm |
  6. Gary Chandler in Canada

    THE TRUTH? he knows he won't make it the WH, so he fenagling his way back to his real job!!!

    September 27, 2008 02:39 pm at 2:39 pm |
  7. Ted:Canada

    John don’t get involved you will not help and will likely make matters worse.


    Last night you showed why CANADA AND THE REST OF THE WORLD WILL NOT SUPPORT YOU maybe just Israel – God bless them…the rest of the free world has serious doubts about your ability to understand the 21 century – just your presence will have negative connotations…

    The world is more complicated than it was 50 years ago John – in Vietnam

    1. Sanction don’t work!
    2. Threats don’t work !
    3. Not trying to reason with them don’t work! – conditions or no conditions

    Good By John! – leave with dignity not as an old fool who was stuck in the past.


    Visit Canada we will have a retirement party for you and pad you on the back

    September 27, 2008 02:40 pm at 2:40 pm |
  8. Dems this time

    Hey NH Mom do you want 4 more years of The Bush Crime Family ripping us off? The Banks wouldn't be failing if Exxon and Halliburton would deposit here in the US. They have all the money (No-Bid Contracts). Iraq is a war for profit that McSame wants to continue.

    OBAMA/BIDEN the only choice. The other is suicide.

    September 27, 2008 02:40 pm at 2:40 pm |
  9. Renee

    You know I just find it absolutely mind boggling that there are still people supporting John McCain after the week that his running mate has had. After this week, I am now much more confident that my guy (Obama) will win handedly. I'm sure Sarah Palin is quite a hell raiser back in Alaska.....with all 645,000 of her constituents, however, this woman is not qualified to be vice president and potentially President given McCain's age and past health issues.

    September 27, 2008 02:42 pm at 2:42 pm |
  10. Cheffy

    Speed is not the issue for this "Bailout Plan", it is much more important to make sure that the plan is carefully laid out and thought through. One does not go to war without a battle plan, nor should one put so much of our tax money at risk without a check and balance system in place. Wall Street has already proven that they are greedy and unable to keep control of their own systems. A Federal administration set to watch over the Wall Street entities is absolutely necessary.

    September 27, 2008 02:42 pm at 2:42 pm |
  11. sharon walker

    Dear Friends:
    Stop shooting at me in Scottsdale, AZ I still believe in gun rights!
    It is residential on Rose STreet and near a church and schools.
    What is the matter with you? Financial crisis and fix. Get out of our nation you foreign illegals. Burn their national flags as they have ours publically! Go home we do not want you foreign illegals.

    Hey weather man! Got a clue. The hurricane strike will be lower than Maine first. What you did not report one that went up the coast and inland to NC. Hello!

    More coming and it stinks that you cannot do a good job! What is upstairs. Like Palin excuses? The money honey kick backs not foot ball! You score a crime! Put her in jail and off the ticket.

    September 27, 2008 02:43 pm at 2:43 pm |
  12. lea

    John messed everything up for his own selfish reasons. Once again it's a desperation move by someone who knows he's lost it. If i didn't know better I'd almost think that this whole election has been scripted. Why on Earth would McCain choose Palin when there were so many other candidates that were more qualified? Is he going to pull another rabbit out of his hat? What's next? Besides telling us he's going to fix Washington, the place he's been the last 27 years, what other ridiculous thing can he say or do? Is he going to dump Palin and pick Hillary?

    September 27, 2008 02:43 pm at 2:43 pm |
  13. indy chris

    no bailout.

    hopefully the dems make the bailout package so obscenely fair to the rest of us that the goppers sit on their hands in infantile protest. then obama can say, see? them goppers only care about the ceo's and old mcnasty has no control over them.

    September 27, 2008 02:43 pm at 2:43 pm |
  14. joseph bizumo

    Maccain's body language in terms of debating was a fiasco and it did manifest a serious weakness in reshaping the US foreign diplomacy
    and that 's why he prefers warpath to peacepath.
    Lack of eye contact,disrespecting partner,condiscesion and unnecessary ostentation in terms of readyness without engaging
    partner-weak character in personality for public office.

    Bizumo, Warsaw

    September 27, 2008 02:46 pm at 2:46 pm |
  15. sharon walker

    Dear Friends:
    Watch out China has spies in the USA and they took over Japan several years ago! That's right and now planes and autos making to Central and South America. Take back our industry! Better and cheaper and in the USA. Flexability Unions it can happen!

    More hurricanes and cyclones into China Run! Clean Air not their way. In the minds of Russia watch out and protect your self from China. China a communist county is now making seeding to air , clouds, hurricanes, and G U N S. GOING TO WHERE.

    September 27, 2008 02:46 pm at 2:46 pm |
  16. Big D

    Wait – how could they possibly be progressing on working out a deal if McCain isn't there as the glue to hold them together? I don't know how they got along so well without him up to this point, or how they could possibly proceed without him. Oh please – can't McCain come charging in at the last minute and solve this crisis for us?

    September 27, 2008 02:48 pm at 2:48 pm |
  17. Bonnie

    Please don't let McCain insert himself into this process again . . . just get it done! Thank you and Amen.

    September 27, 2008 02:49 pm at 2:49 pm |
  18. Mary

    Will McCain be negotiating with any one or will they sit him in a corner,tell him to be quite like he did day before yesterday.

    September 27, 2008 02:49 pm at 2:49 pm |
  19. w.l. jones

    When a person use symbolism to describe a circle,.. the economy began with Mr. Hoover and end with Reagan. There wasn^t one new ideal in the debate on leadership that could lead us out the economic mess we are in, so why go back on the hill when you still in the valley.

    September 27, 2008 02:49 pm at 2:49 pm |
  20. Bonnie

    To NH Mom: I'm in NY and have lots of friends who are writing in Hillary (but would never do so if they thought McCain/Palin had a chance here). PLEASE don't do it – your vote WILL count in NH.

    September 27, 2008 02:51 pm at 2:51 pm |
  21. Clay

    They will give this 700 billion to these financial industries which will pocket the money and still send the Sheriff to kick us out in the cold when we are short on the mortgage payments. They say this amounts to roughly 10,000 dollars per household so why not just pay it towards people mortgages that have mortgages,that way the financial institutions will have more funds to stabilize and we won't be thrown out in the cold

    September 27, 2008 03:00 pm at 3:00 pm |
  22. NV for Obama/Biden

    Why are they still "talking" about this bailout – do they not read the blogs or listen to the American People! I have perused through the blogs on all the news sites and a large majority of Americans do not want this bailout – I thought we lived in a democracy – "of the people, by the people for the people" so why are they not listening TO the people! You know why because no matter what, the fat cats of Wall Street and the lobbyists will always have thier hands in the pockets of Washington. How come there is not more outrage and news coverage regarding the 3 month CEO of WaMu getting an almost $20 million dollar "Golden Parachute"! You think there wont be a back door loophole in this "plan" guess again – once again the taxpayers will get screwed! NO BAILOUT – oh I am sorry we are now referring to it as a "Rescue" – ha talk about lipstick on a pig.

    September 27, 2008 03:01 pm at 3:01 pm |
  23. Democrat for John McCain

    Senator Gregg, I appreciate what you are doing but American people nee4d to know what Sen. Dodd, Rep. Barney and of course Barack wants to do this country. Fannie Mae & freddie Mac got power from Clinton and then Democrats never listened need to what George Bush was saying about this plot. Even John McCain was asking for regulations on these companies. Last evening Barack did not say anything about Fannie May and Freddie Mac because he got money from them. American people should know that democrats wanted to bail-out using taxpayers money. Today I have to thank House Republicans who stood strong to protect our interest, tax payers' interest. How can you trust Barack. No way.

    September 27, 2008 03:01 pm at 3:01 pm |
  24. gloria

    When someone doesn't look me in the eye when talking to me, I know they are trying to hide something or else they are LYING and they most certainly cannot be trusted.

    September 27, 2008 03:02 pm at 3:02 pm |
  25. KofTX

    Good, let's get this over with. It is funny how all of these people who are complaining about the size of the bailout didn't seem to make the connection between the national debt and spending OVER A TRILLION DOLLARS IN IRAQ which was a NEEDLESS WAR!



    September 27, 2008 03:04 pm at 3:04 pm |
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