September 28th, 2008
05:55 PM ET
6 years ago

$700 billion rescue bill released

A rescue bill was released Sunday evening.
A rescue bill was released Sunday evening.

WASHINGTON (CNN) – A draft bill to create a $700 billion bailout of the financial industry was released by members of Congress on Sunday.

House Speaker Nancy Pelosi, D-California said she hopes the bill will be up for a vote Monday.

"We will have to have bipartisanship to pass it," she said.


Filed under: Congress
soundoff (81 Responses)
  1. Ed, Santa Fe, NM

    PALIN IS A BLATHERING IMBECILE

    September 28, 2008 07:02 pm at 7:02 pm |
  2. INDEPENDENT

    This is an example of Republican (McCain) deregulation of the markets to benefit the big corporation and rich going wrong that will now effect every Amercian.

    MCCAIN JUST SAID A FEW WEEKS AGO THE ECONOMY WAS STRONG!! HE HAS 7 HOUSES AND SEVERAL CARS. WHAT DOES HE KNOW ABOUT THE AVERAGE AMERICAN AND THE ECONOMY AND IT SHOWS BY HIS COMMENTS.

    I AM VOTING FOR OBAMA 08

    September 28, 2008 07:04 pm at 7:04 pm |
  3. TruthOnly

    Let me tell you what I think is sicking. We still have people that lives here in the US and see the disgrace we are all over the world, and we still have those same ignorant people who voted for this lame duck president now supporting, a hot headed person that has a vendetta to still settle.

    This man can't identify with most of Americans....he could if most americans were worth millions.

    Think about this... If he care about you and your well being..... you would be hearing about all of his accomplishment of what he has already did for you, instead of talking about himself as a POW.

    The one who is really trying to help you is that guy, this is new to the sen. He's new and already making an impack for all americans.

    September 28, 2008 07:04 pm at 7:04 pm |
  4. Pam - Long Beach, CA

    We can fight back at the ballot box. I am not voting for any incumbents in November – either Republican or Democrat, federal, state or local.

    I am also not voting for someone who changes his position everytime the political temperature changes because you can't tell what he would actually do once he got into office. He might devate from campaign statements/promises more than Bush did. God help us.

    September 28, 2008 07:06 pm at 7:06 pm |
  5. ANGIE

    WOW SHAKING MY HEAD BUSH HAS MADE A MESS BEYOND MESS OF THIS COUNTRY !!

    September 28, 2008 07:07 pm at 7:07 pm |
  6. Michael, watching from Canada

    The world knows that it was Bush and the Republicans whose policies of deregulation is the root cause for the financial crisis around the world.

    It continues to amaze me that the REPUBLICANS WILL NOT ACCEPT RESPONSIBILITY FOR THEIR ACTIONS........

    but rather try to blame the Democrats or Wall Street.

    The world knows the truth.......

    Republicans are guilty of the financial mess

    September 28, 2008 07:07 pm at 7:07 pm |
  7. Mrs. Texas Teacher

    Does anyone recall that Bush, Jr. was one of the biggest cats in the last saving and loan bailout in his daddy's administration? Strange that just before he goes out of office we need another one!

    September 28, 2008 07:08 pm at 7:08 pm |
  8. R L Turner

    Sort of weird that they would ask a multi-billionaire, Warren Buffet, a friend of Wall Street and the Mortagage Industry, to comment on the bail-out, when they should be getting on the record, front page comments from Middle and Poor America. It's amazing how this country lacks any sense of humility and believes the RICH BOYS have the answers, when the RICH BOYS have gotten us into this RICH BOY GIMME MONEY FREEBE MESS. Enough of Buffet and all that crony clan of money grubbers, who would cheat their own grandmothers. CNN needs to have REAL AMERICA BOYS AND GIRLS ON THE FRONT PAGE.

    September 28, 2008 07:08 pm at 7:08 pm |
  9. Don

    If we do away with McCain's $300 Billion in tax cuts to his corporate fat cat buddies, we'll only be on the hook for $400 Billion. That's way way way too much for us to be paying, but still moving in the right direction. If we take the $6.6 Billion in pork out of the spending bill yesterday, that pays it down even more.

    Let Barack Obama at the budget with his scalpel instead of Gramps and his chainsaw and we can work this down even more.

    September 28, 2008 07:10 pm at 7:10 pm |
  10. The Geico Caveman

    Caveman speaks while dribbling a basketball:

    Americans spent millions of dollars at the movies watching the latest flick by Will Smith. They snorted down popcorn and nachos with their chubby kids. They had a good time cheering for this living legend.

    American companies spent multi-millions just to get Tiger Woods to endorse some of their " made in China " products. These companies cheered when Tiger won his last PGA tounament. People will stand in the soaking rain just to see this icon play golf.

    American spent even more millions just to see their favorite basketball player. Kobe, LeBron, Kevin Garnet and even Tim Duncan burning up the hardwood with spectacular monster jams. Fans giving high fives. People nearly jumping out of their skin cheering for these rich ball players.

    Some of these "cheering" American want to bench Barack Obama. Some say " ...he's not ready". What? He's good enough to be a pro golf player.....a big budget movie star....he's good enough to play ball only. Oh I see..he not " experienced enough" to be President of the United States of America. C'mon ..what's the real reason? He's black..ok...I said it for you.

    You see...this kind of thinking will only set YOU back in the stone ages.
    And YOU wanna call me the neanderthal.

    Caveman start shooting jumpers.

    September 28, 2008 07:10 pm at 7:10 pm |
  11. Johnboy

    How many Congress men and House men are going to jail?

    No one going to jail?

    WHAT?

    How can this be? Its billion of dollars?

    Is our goverment letting us down?

    September 28, 2008 07:11 pm at 7:11 pm |
  12. NClaw441

    Fannie Mae was run by Obama's economic advisor. Reform after reform has been proposed by Republicans and Democrats alike, but Democrat leaders have quashed every effort. Dem leadership, including Barney Frank, has denied that any crisis even existed.

    September 28, 2008 07:11 pm at 7:11 pm |
  13. Michael, watching from Canada

    Does the US want to improve its image around the world?

    Good foreign relations requires mutual respect…..

    When you shake someone’s hand, you should be able to look at them in the eye.

    But no, at the beginning of the debate when Obama approached McCain and shook his hand, McCain could not look at Obama……in fact, McCain almost grimaced when he shook Obama’s hand!

    McCain was rude, condescending, and during the debate, exuded an air of superiority, looking down at his opponent.

    How can anyone hoping to raise the image of America around the world show such a superior attitude? Regardless of which country you come from, God did create all men and women equal.

    Yes, America is the most powerful nation in the world…….

    But, no matter how powerful a country is, it is not power (and the almighty Bush/McCain superior attitude) that engenders good relations…..

    But whether you show some respect to the others!

    September 28, 2008 07:11 pm at 7:11 pm |
  14. OBAMA IS BI-PARTINSAN, MCCRYPT, NOT SO MUCH!

    During the first Presidential debate, I noticed bi-partisanship in action.

    1. Obama: “John you were right…”

    This shows that Obama is admitting that he does not have all the answers and is willing to listen to all sides of an issue before making a final decision. This is a very good trait to have in a President that wants to represent ALL of America.

    McCain would not even acknowledge Obama when Obama was talking directly to him. He appeared bothered and angry that he had to waste his valuable time explaining himself to Obama. McCain’s disdain for Obama was apparent in his demeaning and snide comment stating Obama being so far to the left that it was hard to reach across the aisle in a bi-partisanship manner. McCain came across as a small-minded, petty, angry and bitter old man. Not good traits in anyone, but certainly not in a man vying to be the President of the UNITED States.

    2. McCain: “Senator Obama does not understand…”.

    It was obvious that the contrary was true, Obama did indeed understand, what McCain obviously meant was that Obama did not understand issues the same way McCain does, which is obviously the ONLY correct way in his mind.

    Moral:

    McCain claims that as a “maverick” he likes to make quick decisions and then live with the consequence. We are looking to future, and want to see how McCain would interact with Obama, Congress and the citizens, we do not want some old story line where in the past you did this with that Democrat and that with this Democrat. Your current demeanor speaks volumes as to your ability to be “bi-partisan” in the futures.

    Question to America:

    Do you want to place the future in the hands of a man that makes quick, erratic decisions without research and have the consequences affect the lives of your children?

    September 28, 2008 07:12 pm at 7:12 pm |
  15. Hans Kraeutner

    This writer's opinion seems to be shared by the majority of US
    citizens . As a Canadian citizen this bail out will affect this country
    just a negatively as well as many others

    September 28, 2008 07:15 pm at 7:15 pm |
  16. v.ananthan

    OBAMA SUPPORTERS AND CNN (Martin) IS TRYING TO SHOW THAT MCCAIN IS GIVING THE MONEY TO RICH WALLSTREET ...

    JUST WAIT FOR A SECOND...

    WHY IS MCCAIN DOING THIS JUST DAYS BEFORE THE ELECTIONS WHICH HE KNOWS VERY WELL THAT THIS IS GOING HELP OBAMA WITH MORE VOTES...

    THE ANSWER IS NECESSITY TO SAVE -GUARD AMERICA FROM FINANCIAL MELT DOWN ....

    I DO REALLY BELIEVE IN MCCAIN WHO SAYS
    " COUNTRY FIRST"....

    PROUD SUPPORTER OF MCCAIN...

    MCCAIN / PALIN 08

    September 28, 2008 07:15 pm at 7:15 pm |
  17. Roger

    I thought it was interesting how the ticker posting titled: "McCain retracts Palin's Pakistan comments" was posted this morning. But now, it is posted at again at 6:00 pm. Is it so that that post stays at the top of the ticker? Is it the top story of the day or something? I really don't know what CNN will do if Obama loses.

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

    I am reading the frustrations of people on the board about the bill. I am on the fence about the bill because I don't want my taxpayer money to be used to save wall street. However, without helping wall street many banks will not approve loans which means that main street will be more affected then it already is. I am a student and many students in my university did not receive their loans. This is a problem that is affecting not only students but small businesses. The bailout appears to be necessary in order to allow credit. Second, the $700 billion will be given in stages instead of a lump sum. The goverment has to prove that the system works before the treasury and wall street receive more money.

    September 28, 2008 07:16 pm at 7:16 pm |
  19. McHoover Will Destroy What is Left of America

    I hope everyone realizes that by this time next year the Republicans will be blaming Obama for the mess they created.

    Republicans never do anything wrong.

    It's always someone else's fault.

    September 28, 2008 07:17 pm at 7:17 pm |
  20. McCain still suffers from PTSD

    Where's McGimmick and his juvenile campaign manager who feeds off of childish attacks while playing the American people small with his bail out gimmicks addressing the American people from Washington DC?

    Is it because the GOP in Washington refuses to give McGimmick credit for rushing to Washington after 11 hours in NYC doing his media tour after PLYING THE AMERICAN PEPLE SMALL CLAIMING he suspended his campaign to do nothing once arrived but sit there looking like a crazy old man suffering from PTSD posing for a photo op for his political campaign?

    September 28, 2008 07:18 pm at 7:18 pm |
  21. facts are facts

    It's funny how a situation will get a different name put on it depending on the country and how it's citizens view it.

    For instance before the Bush administration put a different name on the Wall Street Bail out to the rescue plan here in Canada it was and still is referred to as the BUSH/McCAIN BAILOUT plan.

    I guess the reason is that the Wall Street and Corporate Elite in the financial industry already have their pockets full regardless whether the economy collapsed or was saved.

    Hopefully both countries will have used the wrong name and it becomes the American Citizens Rescue Plan in that all the foreclosed homes will go back to the original owners with a principle and interest they can financially handle for a mortgage. Wouldn't that be nice.

    September 28, 2008 07:18 pm at 7:18 pm |
  22. Ted:Canada

    TIME TO GET INDOXICATED!!!

    Yes – your government for the last eight years failed you miserably.

    In a democratic country your government is elected to protect it’s people – all the people – not just the rich!

    Where were they ??? = MISSING IN ACTION – BIG TIME!!!!

    Over 2 million federal civil servants let by BUSH and the REPUBLICANS = The ULTIMATE failure!

    Yes! have a "stiff" drink my friends there is nothing you can do about it now.

    WE JUST HOPE THAT IT DOES NOT GET WORSE!

    “THE DARK DAYS OF SEPTEMBER”

    September 28, 2008 07:19 pm at 7:19 pm |
  23. McCain still suffers from PTSD

    Why isn't McGimmick and his juvenile campaign manager who feeds off of childish attacks while playing the American people small with his bail out gimmicks addressing the American people from Washington DC?


    Is it because the GOP in Washington refuse to give McGimmick credit for rushing to Washington after 11 hours in NYC doing his media tour after PLAYING THE AMERICAN PEPLE SMALL CLAIMING he suspended his campaign to do nothing once arrived but sit there looking like a crazy old man suffering from PTSD posing for a photo op for his political campaign?

    September 28, 2008 07:20 pm at 7:20 pm |
  24. Allen in Hartwell GA

    To all the people who cried for the government to get out of their way and let the people do what they know best:

    You had your way, and look at where it got the country. Now you need the taxpayers to get you out of the mess where your greed took you.

    The government that you so hate you now need to rescue you from your bad decisions.

    If it was you in my position and I needed help you'd say let them eat cake, but lucky for you I and most Americans aren't like you.

    Will you be grateful? Yes, but you'll never admit it. And if you ever get the chance to repay your debt to the country you'll be too busy making money.

    God help you!

    September 28, 2008 07:22 pm at 7:22 pm |
  25. bill canada

    I am confused . Mccain went to Washington and ruined the signing of the bill , but 3 days later you have a far better deal and people are still mad at Mccain . YOU AMERICANS !!!!!

    September 28, 2008 07:23 pm at 7:23 pm |
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