September 28th, 2008
11:00 AM ET
6 years ago

Candidates say they'll probably support bailout bill

Obama and McCain said sunday they would probably vote for the proposed bailout plan.
Obama and McCain said sunday they would probably vote for the proposed bailout plan.

(CNN) – Sens. Barack Obama and John McCain said Sunday they would probably vote for the government's proposed bailout legislation once they check out the final details.

Congressional lawmakers announced early Sunday they made "great progress" toward reaching a deal on the White House's proposed $700 billion bailout plan.

Rep. Barney Frank, D-Massachusetts, said the final plan will be a compromise that includes some of the original Bush administration proposals and elements demanded by congressional negotiators.

In an interview Sunday on CBS' "Face the Nation," Obama said he had not reviewed the language of the latest proposal, but he said if the core principles he put forth were incorporated into it, his "inclination" would be to vote for it.

The Illinois senator said the final deal must include strong oversight, make sure taxpayers share in any gains when the market recovers, provide relief for homeowners, and make sure taxpayers' money does not go toward any executives' bonuses.

Obama told CBS that it appears those principles have been included, and if that is the case, "my inclination would be to vote for it, understanding I'm not happy about it. We should have never gotten into this place in the first place."

Full story


Filed under: Candidate Barack Obama • John McCain
soundoff (136 Responses)
  1. Bottom line: Obuma has NO resume, even for change!!

    Don't go out on a limb or anything Obama!! Please understand you can't vote "Present" on this one, even though you didn't want to be in the first place!!

    September 28, 2008 12:03 pm at 12:03 pm |
  2. Jeff

    No wonder McSame will support this, this is bailing his party out of the mess they created. De-regulation was the problem, Republicans love de-regulation, do the math.

    Now, the Democrats should have spoken up and done something about this so there is some fault for them as well.

    September 28, 2008 12:07 pm at 12:07 pm |
  3. 1ladyug

    Congress talked to Warren Buffet as an expert on Wall Street. Sure he is an expert ut remember that he also has a stake in what congress does. He just made an investment proably counting on a bailout by congress. A bailout will benefit him so of course he is going to argue for the bailout. Why have not independent ecconomusts been consukted rather han financial experts with a vested interest in the results.

    September 28, 2008 12:08 pm at 12:08 pm |
  4. Larry of Boston

    I will vote for the candidate who does NOT vote for this Wall Street boon doggle ................................

    September 28, 2008 12:11 pm at 12:11 pm |
  5. Kay, Charleston, WV

    I hope this version fails. Why is congress not filling its constitutional role on oversight? This plan will be watched over by appointees. I believe voters deserve someone they can hold accountable for a plan this historically large.

    September 28, 2008 12:11 pm at 12:11 pm |
  6. Barney

    Once this is final, can the citizens of this nation please see the final document? Also, we need to know who voted which way. We are having elections soon. We need to know.

    September 28, 2008 12:11 pm at 12:11 pm |
  7. Glenn in California

    I love how now McLame has his stooges running around saying how he was the reason the deal got done.

    Yeah, right. I played a bigger role. Take Caribou Barbie and ride off into the sunset, or maybe to the old folks home. The Straight Talk Express has definitely derailed and gone up in flames.

    Just say NO to Bush 44 and Caribou Barbie.

    Go Obama/Biden!!!

    September 28, 2008 12:12 pm at 12:12 pm |
  8. 1ladyug

    The executives don't get the golden severances tbut here is nothng stoping them for getting it as salary maybe over several months even after they have effectively left.

    September 28, 2008 12:12 pm at 12:12 pm |
  9. alvino

    I am getting tired of everyone having to cover for the ineptness of the Bush/McCain/Gramm idiocy. Deregulate is the answer my butt! We aways get stuck for this mess. " . . .it's so hard to understand, that while the rich man is busy dancing, the poor man pays the band."

    September 28, 2008 12:12 pm at 12:12 pm |
  10. redhead from Toronto

    Senator Obama is correct, we never should have gotten into this mess in the first place but, since we are, let's save the people who did nothing to deserve this. It's a bitter pill for the taxpayers to swallow but hopefully they will come out of this on top, I sincerely hope so. P.S. We are thinking of you up here in Canada and hoping you will do the right thing in November and go for "Change you can believe in" God knows you earned it after the last 8 years.

    September 28, 2008 12:13 pm at 12:13 pm |
  11. alvino

    I am not sure that you can take McCain at his word, and he will use his vote for political gain.

    September 28, 2008 12:14 pm at 12:14 pm |
  12. Texas

    If it wasn't by Obama and dems who demanded a more mainstreet friendly approach, McCain and repubs would have approved a real WallStreet giveaway

    September 28, 2008 12:14 pm at 12:14 pm |
  13. Michael

    Watch how Sen. McCain votes. He is the key. His inside knowledge of the destruction of the Savings and Loan industry, when he and the other Keating Five were at the center of the industry's extinction through the same type of corruption as is bringing down today's bankers, gives him unique insight. You all remember the Keating Five don't you?

    September 28, 2008 12:14 pm at 12:14 pm |
  14. mobiusinformer

    Supporting a bail-out bill is borderline treason.

    September 28, 2008 12:15 pm at 12:15 pm |
  15. OBAMA THE BI-PARTISAN CANDIDATE, 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. 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. 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 understand, what McCain 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 live with the consequence. We are looking to future, and want to see how you would interact with Obama and the citizens, not old story line in the past when you did this with that Democrat and that with this Democrat. Your current demeanor speaks volumes as to how may 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 12:15 pm at 12:15 pm |
  16. Former Republican for OBAMA

    MCSENILE & BUSH & SCUMBAGS GOT US HERE.

    WHAT A CRAP FEST ??

    September 28, 2008 12:18 pm at 12:18 pm |
  17. spend 700 billion on MAIN STREET!

    HELL NO to WALL STREET BAIL OUT!

    CREATE FAIR-PAYING JOBS,

    RESTRUCTURE MORTGAGES!

    NATIONALIZE WALL STREET IN REAL TERMS

    or NO DEAL TO CRIMINAL BILLIONAIRES!

    September 28, 2008 12:18 pm at 12:18 pm |
  18. IF THE ORACLE OF OMAHA SAYS IT MUST BE, THEN SO BE IT!

    I did not support the bailout because I felt Bush and his appointees Paulson were devoid of integrity, economic knowledge and I was suspicious of their motivations. It was too reminiscent of the run up to the Iraq war. I was extremely distrustful of the bailout.

    However, today I hear where that Warren Buffet, who actually knows about such things, since he is the 2nd richest man in the country, has stated that the bailout is absolutely necessary, so, albeit, reluctantly, I do now support the bailout bill.

    September 28, 2008 12:19 pm at 12:19 pm |
  19. Mark

    To the first poster, maybe you have no clue ... you can't Vote present...you can vote yes or no...get a clue do some research

    September 28, 2008 12:20 pm at 12:20 pm |
  20. A NATION OF WINERS for OBAMA

    COWBOY FOREIGN POLICY.

    COWBOY ECONOMICS.

    BROUGHT TO YOU BY BUSH, MCBUSH & SCUMBAGS.

    September 28, 2008 12:20 pm at 12:20 pm |
  21. MCSHAMELESS = WALL STREET

    MCSHAMELESS himself said publicly and proudly,

    "there is NO CONFLICT OF INTERESTS between me and my lobbyist friends, as our interests perfectly coincide."

    hey, ol dude,

    the reporters asking about CONFLICT OF INTERESTS between the people who you are supposed to represent and the corporates.

    mcshameless never had bearings to speak of.

    September 28, 2008 12:21 pm at 12:21 pm |
  22. E.Frank MD

    With such somber, frightening news about the economy, CNN has half of its space devoted to Paul Newman...there you have the values that has brought the USA to its knees.

    September 28, 2008 12:21 pm at 12:21 pm |
  23. Jasmine

    CORPORATE WELFARE!!!!

    September 28, 2008 12:21 pm at 12:21 pm |
  24. a southern bell for OBAMA

    I WILL NEVER VOTE FOR A

    REPUBLICAN AS LONG AS I LIVE.

    September 28, 2008 12:21 pm at 12:21 pm |
  25. Mike

    So after all of the McBush lies, attacks and political gimmicks of the last couple of days. It all just boils down to voting for the bail out.
    Sheesh, McBush is such a drama Queen.

    September 28, 2008 12:21 pm at 12:21 pm |
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