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. Debby

    Oh please muzzle Barney Frank he is the main reason for the Fanny disaster. Say what you will about Palin and her interviews, but all these other looney Dems. and Repubs. have made grave errors over the years for us Americans and that includes, Biden, Obama, and McCAin in the mix.

    September 28, 2008 12:22 pm at 12:22 pm |
  2. Mack

    If Obama is correct that we should have never gotten in this mess, why did he do nothing for two year whilie his party controlled congress. McCain and Hillary Clinton both warned of this crisis, but nobody would listen. This plan is bad for the American people and Obama has no clue. All those tax cuts promised for your vote will be history if Obama gets elected..As in the debate he refused to be honest about what this plan will cost..well it will cust tax breaks and healthcare reform...dont be surprised...McCain knew this was a problem and he atleast is trying to make this fair for the people..Obama just wants to be elected.

    September 28, 2008 12:22 pm at 12:22 pm |
  3. Obama For President

    I'm worried about what would happen if Amecans don't support this bill...The economy is a disater and not doing something now would put my family in jeopardy financially. I don't want to bailout greedy investors but not doing anything will just make my life miserable........I see some of the problems now with gas prices, food prices going up and I'm scratching my head when we have lines for gas at the station and milk is almost $5.00 a gallon. I'm tired of eating pasta because this is what I can afford or stretch until next paycheck. You can't imagine how angry I get when I read these news stories and journalists are focusing on personalities of candidates and forgeting the issues that reall matter.

    September 28, 2008 12:22 pm at 12:22 pm |
  4. LT

    Palin should stick to what she knows: Banning books, shooting Bullwinkle the Moose's relatives (and Rocky), and telling lies.

    From Friends of Bullwinkle

    September 28, 2008 12:23 pm at 12:23 pm |
  5. Democrat for John McCain

    Can believe that Barack wants to say that John McCain does not desrve credit for this rescue plan. Barack is in the wonderland. If it was not for John McCain and House Republicans, this bailout plan could damage taxpayers. Thanks to sensible people in the house. Barack has received maximum benefit from Fannie Mae, Freddie Mac and earmarks which democrats out in. I wonder what happened to ACORN. It is created by democrats to fool ordinary American people. In coming November I hope all these democratic congressmen should be thrown out from the congress. They do not desrve to represent taxpayers. Media will not publish details of ACORN being sheltered by Democratas. Barack Obama never mentions this organization. I want all Americans to unite and throw these people out of congress and Barack of course will lose in the coming electiron. No doubt.

    September 28, 2008 12:24 pm at 12:24 pm |
  6. Dr. Mimi De La Cruz for OBAMA

    ITS WHAT WE GET FOR VOTING FOR GREEDY

    IGNORANT MORONS LIKE BUSH & MCBUSH.

    NEED TO VOTE THEM OUT OF EVERY PUBLIC

    OFFICE IN THE NATION.BEEN TELLING YOU

    THAT WE ARE IN THE CRAPPER. IT WILL TAKE

    2O YEARS OF CAREFUL MANAGEMENT OF

    OUR ECONOMY, TO JUST RECOVER.

    September 28, 2008 12:25 pm at 12:25 pm |
  7. There's Something Wrong with this Bailout..

    No one, including Obama has explained to the American people exactly what the risks are if the bailout is not done. For example, how many banks and businessess will fail, how many jobs will be lost, will the housing market recover over time, etc:?

    Without these details, how can we decide if we want to put each taxpayer on the hook for $ 20,000. We are being talked to in generalities and therefore we do not know the truth. For all I know, the politicians are doing this so the companies that contribute to them do not fail.

    The politicians, and I include Obama, McCain and Biden are not leveling with us.

    September 28, 2008 12:27 pm at 12:27 pm |
  8. Democrat for John McCain

    Can you believe that Barack wants to say that John McCain does not deserve credit for this rescue plan. Barack is in the wonderland. If it was not for John McCain and House Republicans, this bailout plan could damage taxpayers. Thanks to sensible people in the house. Barack has received maximum benefit from Fannie Mae, Freddie Mac and earmarks which democrats put in. I wonder what happened to ACORN. It is created by democrats to fool ordinary American people. In coming November I hope all these democratic congressmen should be thrown out from the congress. They do not deserve to represent taxpayers. Media will not publish details of ACORN being sheltered by Democrats. Barack Obama never mentioned this organization. I want all Americans to unite and throw these people out of congress and Barack of course will lose in the coming election. No doubt.

    September 28, 2008 12:27 pm at 12:27 pm |
  9. Big D

    I can't believe any spin from McCain without skepticism. Does he really expect us to believe that his 'suspension' wasn't a political ploy? Or that he wasn't trying to make it look like he was more crucial to reaching a deal than he really was (remember he's the glue)? I find all of that hard to believe, after he couldn't bother to go to the Senate for 4 months straight during the campaign, and missed more votes than anyone except the man suffering a brain aneurism. So with that absentee history, and his well-known tendency to overreact and resort to drama and gimmicks, I don't really believe any of his statements about sincerity now. Vote Obama – who has the judgement and temperment to be President.

    September 28, 2008 12:27 pm at 12:27 pm |
  10. John McShame

    More of the same from John McShame

    John McLame says, “I don’t know much about the economy, I still need to be educated”

    “It would be acceptable if we had to stay in Iraq for another 100 years.”

    We need to “bomb, bomb, and bomb Iran”

    “I have voted with Bush 90% of the time because he has been right 90% of the time”

    Sarah Failin says,
    “I have foreign policy experience because you can see Russia from Alaska and I went to Mexico on vacation once.”

    “I welcome any investigation into my past because I have nothing to hide, oh never mind I will not meet with any investigators for any reason ever.”

    She believes the Bush Doctrine is a “World View” hahaha

    She says she said “No Thanks” for the Bridge to nowhere when she was actually the one who got it approved

    She says we may have to go to war WITH RUSSIA

    She decreased her own responsibilities when she was the mayor of a town small enough to be run by a fifth grader

    You May be able to hide Sarah Palin from the people and the press to cover up her complete incompetence, but YOU…YOU CAN”T HIDE FOREVER McLame!!!

    September 28, 2008 12:29 pm at 12:29 pm |
  11. double talk

    Why are Sarah Palin's comments called "ignorant ramblings" by the Obama supporters- even as they claim that she supported his stance on the issues?

    I saw nothing wrong with Palin's response about Pakistan- she said IF that is what we HAVE to do....

    September 28, 2008 12:29 pm at 12:29 pm |
  12. David Goldman for OBAMA

    THOSE OF YOU THAT VOTED FOR BUSH

    OUGHT TO GIVE IT A THOUGHT BEFORE

    VOTING FOR HIS GRANDFATHER WHO

    SUPPORTED HIS DEREGULATIONS TO

    THE HILLT & COMPLAINED THAT THEY DIDN'T

    GO FAR ENOUGH & WANTS THEM FOR HEALTH CARE

    IGNORANCE & GREED AT IT'S WORST. WHAT EVER

    YOUR COLOR, AGE, RELIGION OR PARTY YOUR DOLLARS

    HAVE LOST MOST OF THEIR GREEN.

    September 28, 2008 12:30 pm at 12:30 pm |
  13. jon

    Yes, we all know McCain and his sidekick are one of the weakest political tickets in American history. Everyone is talking smack about their campaign, but just do me ONE HUGE FAVOR..........BE SURE TO VOTE IN NOVEMBER!!!! We all need to back up how we feel and voting for Obama is the only way we can move forward.....

    September 28, 2008 12:31 pm at 12:31 pm |
  14. S. Boatman

    Mccain Only Gets In The Way So He Can Look Like He Is Doing Something And Claim He Is The Reason Things Are Getting Done And Take All The Credit Even Though He Is Not On The Commitee Handling Things! If The Deal Turns Bad He Will Say He Went To Try And Stop It And Take Credit That Way!

    September 28, 2008 12:31 pm at 12:31 pm |
  15. denise

    Mccain camp always want to criticize Senator Barack Obama about his past paster, however they don't want the media talking about sarah past paster, I wonder why? what is she hiding?

    McCain treats Palin like a girlfriend instead of letting her speak for her self and allowing her to talk to the media. Wake up america we don't need a old president and an alaska girlfriend, mrs Mccain had better watch Palin I don't trust her.

    September 28, 2008 12:31 pm at 12:31 pm |
  16. I don't see a problem

    All the candidates advocate going after terrorists where we find them... IF that is what we NEED to do for our security.

    McCain did not RETRACT Palin's statement- he clarified it- just like Obama constantly clarifies what HE means.

    They ought to let Palin speak- and then she can clarify it- McCain needs to butt out.

    September 28, 2008 12:32 pm at 12:32 pm |
  17. Evan

    Thanks Canada, we do need the change. We need Obama here in the U.S. And I think its funny how McCain has to retract a statement Palin made. "Dont shove microphones in her face." umm she is the VP candidate thats what happens on the campaign. I wonder how many things they will retract during and after the debate

    September 28, 2008 12:32 pm at 12:32 pm |
  18. Michael, watching from Canada

    Why is America in so much debt? 8 years of Republican leadership.

    It was a Republican President and his Republican administration?

    WHO INITIATED THE BAILOUT.

    It was a Republican President and his Republican administration?

    WHO HAS BEEN HIGHLIGHTING THE NEED TO RESOLVE THE FINANCIAL CRISIS QUICKLY.

    It was the Republican House members who waited until the last minute to propose their plan at a White House meeting.

    Who came to Washington to save the day, but still does not have a clear position for solving the financial crisis? The Republican nominee for President.

    I give full marks to the Democrats for trying to resolve the financial crisis even though it isn't their mess!

    September 28, 2008 12:33 pm at 12:33 pm |
  19. Pattypie

    I beg you:

    CNN is a great company and I am a regular and loyal listener.

    But you guys cheapen yourselves by announcing every two seconds that you are the "best political team on television."

    Please. Stop this. I am a marketer and it rubs me the wrong way. Imagine how others feel.

    Just BE the best political team on television and you won't have to hawk it. I have lost respect for Wolf Blitzer. He's become the PT Barnum of CNN.

    Enough already.

    September 28, 2008 12:34 pm at 12:34 pm |
  20. Wilfred

    What is happening to my country.
    Dems blame reps , reps blame dems and sh-t doesn't get done right
    or at all.
    Can we all be americans first .
    Change Presidents term to 6 years only , same for senate and
    house and stagger it . then we get new blood on a regular basis .
    Not the Same Old Sh-t , career politicians/ crooks .

    September 28, 2008 12:34 pm at 12:34 pm |
  21. Tiff of lithia springs

    I hope that the taxpayers get to review the language to make sure at the very least:

    1 Bush cronies don't so call regulate the rules
    2 The CEO's don't have not only gold parachutes but platinums ones.
    3 Any profit made the taxpayers get the dividends first.

    This is some BULLCRAPPITH.

    September 28, 2008 12:35 pm at 12:35 pm |
  22. Canta

    It was the Community Reinvestment Act that started this whole thing. It was started by the Democrates.

    McCain tried to present a bill in 2005 that would have plugged it. But the Democrate congress shot it down.

    Do your homework before you start cutting down McCain.

    McCain/Palin 08

    September 28, 2008 12:35 pm at 12:35 pm |
  23. No retraction

    Post closed so posting here:

    I do not see a retraction in McCain's statement on Pakistan- I see him clarifying what Palin said- and it is consistent with the republican position: we will do what it takes to keep Americans safe: IF we HAVE to is the words Sarah used.

    Where is the confusion, flip-flop or contradiction?

    Where is the retraction?

    September 28, 2008 12:36 pm at 12:36 pm |
  24. 12 HOUSES to 0

    ELECTING MORONS TO RUN OUR COUNTRY

    & OUR ECONOMY HAS HAD A PREDICTABLE

    RESULT, CATASTROPHE. AMERICA IS ACTUALLY

    CONSIDERING ELECTING SOMEONE EVEN STUPIDER,

    GREEDIER & MORE MENTALLY UNSTABLE.

    THE BUSH SIDEKICK & HIS SIDEKICK ARE MENTALLY

    INCOMPETANT TO RUN A PIZZA STORE.

    September 28, 2008 12:36 pm at 12:36 pm |
  25. McCain for Pres.

    IT IS THE REPUBLICANS IN THE HOUSE THAT ARE TRYING TO STOP PUTTING THE ENTIRE BILL ON THE BACK OF TAXPAYERS. BOTH PARTIES ARE RESPONSIBLE FOR THIS MESS. JOHN MCCAIN WARNED ABOUT FREDDIE AND FANNIE 3 YRS. AGO. THE DEMS HAVE BEEN IN CHARGE FOR 2 YRS. LETS GET HONEST HERE.

    September 28, 2008 12:36 pm at 12:36 pm |
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