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. Kim

    Today McBush in an unbelievable act of strategic transference. Took all of his grand standing and political gimmicks of the last couple of days. Where in the ultimate act of ' Country Last ' McBush tried to take political advantage of our terrible economic crises. McBush then today had the gall to say it was Obama who did these disgusting things.
    The man has no pride or decency left in him.

    September 28, 2008 12:47 pm at 12:47 pm |
  2. Rise Hillary, Rise

    I want Hillary- that is why I voted for HER.

    These men can not and will not take a position, stand by it and fight for it.

    Neither one will lead if it means that they must show the people what they believe and what they will do.

    HRC is the ONLY choice.

    September 28, 2008 12:48 pm at 12:48 pm |
  3. john fitzgerald kennedy

    the republicans are the dirt under the soles of my shoes.

    September 28, 2008 12:48 pm at 12:48 pm |
  4. barbara Young

    Are you all fooling the American Public with the foolishness that if Joe Biden does not treat SP with kid gloves or whatever key words everybody chooses to use, is the worst form of reporting ever seen. When will the networkds have the guts to stand and say, "What is going on". Four people at this point have the American People and our country in their hands and you all are wanting these four people to soft peddle through the debates. Mc and Barack surely did not coddle each other, why should Palin and BIden. The American Public deserves the people on any newtwork regardless of Party to be honest. One almost has to be a HIstroy Major to get through the crap, and theDem and Rep Strageist really are puppets, and what idoes all of this nonsense have in store for them once the race is over? objective. .

    September 28, 2008 12:48 pm at 12:48 pm |
  5. carol

    John McCain, whether he likes it or not, he and his Republican party got the country in this mess.....he can never forget that try as he may!!!!
    It's all well and good him jumping up and down and now trying to look like a LEADER.....PRESIDENT....with his now famous lines....."I know how to fix it....."I know how to win".
    Where have you been these past eight years....Mr Deregulator..... He has the nerve to say to Senator Obama "He doesn't understand"???
    No, John McCain is the one who doesn't understand....this country is in a shambles and the blame lies with John McCain and the rest of the Republican party...who couldn't care less what was going on until now........and John McCain wants to jump in and now save the day!!!!
    We are not dumb and can see John McCain for what he is, a typical politician who will say and do anything to look good......John McCain does not seem to be an honourable man and should not try and portray himself as such.

    September 28, 2008 12:48 pm at 12:48 pm |
  6. Bill

    The taxpayers should have the opportunity to approve this bailout. Just think. A bailout so that the lenders can go and do it all over again. How does that make sense. Do they really think the lenders will change their ways? Hell no. They want to make money. I hope Obama votes no. If McCain is the REAL maverick he says he is, he will vote no as well. Now that would be bipartisan.

    September 28, 2008 12:49 pm at 12:49 pm |
  7. Still for Hill but now ONLY for Hill

    Is it too late to get Hillary back in this game.

    These men are jokers.

    I want the QUEEN.

    September 28, 2008 12:49 pm at 12:49 pm |
  8. Joel

    If Senator McCain is on the Commerce Commitee, why hasn't he been there for this whole saga? Why didn't he look at what was happening earlier? The MSM was talking about the bubbles for a while before the crash. Where was Senator McCain and the others on the Commerce Committee?

    He doesn't do anything until trying to ride in as a cowboy and then the process is delayed and he doesn't speak at the meeting.

    That's not leadership, that's politics and a failure at politics at that.

    A Republican leaning Democratic.

    September 28, 2008 12:49 pm at 12:49 pm |
  9. ALLAN USA

    OBAMA IS SALESMAN AND IS THE MOST POLITICAL CROOK IN HISTORY OF USA.

    September 28, 2008 12:49 pm at 12:49 pm |
  10. Jim Chebuhar

    Obama should bring my view of this bailout to the public.

    I just read that there are over 1,000 billionaires in the United States. Only one has publicly used any of their fortune to try and bailout a troubled company, The Oracle of Omaha. Why should 300,000,000 of us have to bail out wall street when those 1,000 billionaires could spend $500 million apiece and still have more money than I can ever dream of aquiring? Oh yeah, maybe they are the ones who own most of the bad paper that we are going to buy from them.

    I would rather see 1,000 rich punks loose some of their fortunes than see my country loose everything but the richest layer of excess and greed.

    September 28, 2008 12:52 pm at 12:52 pm |
  11. Shannon

    I see a present vote in obama's future, the man can take a stand on nothing. Why should we bail out people who took loans they couldn't afford, or bail out Wall Street big shots. Where was congress when all of this stuff was happening, we know Obama started running for President the minute he was elected, so he was a no show on anything important. They all deserve to be voted out of office.

    September 28, 2008 12:52 pm at 12:52 pm |
  12. junglejim123

    Barney Frank, Chris Dodd, Barack Obama and many other Democrats are responsbile for this mess. t They voted against regulations, and Obama receivd a ton of money from Freddie Mac and Fannie Mae etc. They did nothing to stop these companies from giving mortgages ito EVERYONE without proof of a job or income etc......
    Watch the You tube tape "Burning down the House." and you'll be madder than hell at the Democrats !!!

    September 28, 2008 12:52 pm at 12:52 pm |
  13. Nic

    I can understand why both candidates are hesitant to back this plan up. It's not 100% failsafe. The problem with this or any other version of the plan is that's there's NO guarantee that it'll work to actually floor the mortgage backed industry. Investors here and abroad would be hesitant to shore up their funds knowing that these companies are now on government leverage. Considering we are footing this 700B bill, I want to make sure this actually worked to prevent a full economic collapse.

    September 28, 2008 12:52 pm at 12:52 pm |
  14. Trysh in Los Angeles

    Unfortunately that BOTH need to support this bill. If the top of our market crumbles, we at the bottom will be the ones who are crushed. If AIG goes under, those at the top will take their millions and start over. Those in the middle will take their thousands and bide their time while they work to start over before those thousands run out. Those at the bottom with hundreds or less will be S.O.L. Unfortunately, there are more with hundreds or less in the bank than those with thousands and certainly those with millions.

    Wall Street will not be the ones penalized by their own crash. This will be the first crash in history where the drivers walk away without a scratch on them and all of the injuries and damages will be had by the innocent bystanders.

    September 28, 2008 12:53 pm at 12:53 pm |
  15. OMG

    Geez... probably... so manly and decisive... with leadership this certain and bold, I'd pick Palin.

    At least she doesn't lie to the people. She speaks her mind and her beliefs.

    These guys? Who knows what they stand for and what they will fall for?

    September 28, 2008 12:54 pm at 12:54 pm |
  16. Chad, Indiana

    Does this mean we can't deregulate wall street so we can start selling crack to school children for profit? Lets face it, super mega corporations are bigger than any government and they have the power. Because of their ambitions the entire globe is suffering, so naturally we have to pay for everyone to suffer. This isn't about greed, it's about absolute power and how it corrupts absolutely. Vote for the Independent for once america and say enough to the vampires in washington and wall street.

    September 28, 2008 12:54 pm at 12:54 pm |
  17. B

    Economic patriot act. Get ready for the government to own you.

    September 28, 2008 12:55 pm at 12:55 pm |
  18. Tom in Delaware

    What are the Vegas odds that Obama will vote 'Present' again...what leadership!?!

    September 28, 2008 12:55 pm at 12:55 pm |
  19. Enshala

    When there is 100% anti McCain postings you kinda understand why some people see CNN as part of the Obama campaign. Re the quote about going into Pakistan, Obama said the same thing, but I don't see CNN mentioning that, or the Messiah's love slaves here mentioning that. Just attacking Palin.

    September 28, 2008 12:55 pm at 12:55 pm |
  20. JayInNewHampshire

    McCain is lying he will vote NO!!!!! Being the shady character that he is.

    September 28, 2008 12:56 pm at 12:56 pm |
  21. sal

    There should be a HUGE betting pool on teh VEEP debate-my money says PALIN WILL NOT SHOW UP.

    MCCAIN KNOWS IF WILL CRIPPLE HIM IF SHE DEBATES, SO THERE WILL BE A "REASON" IN THE NEXT DAY OR TWO-A NEW "EMERGENCY"

    SO don't get your hopes up for that debate because it ain't gonna happen, folks!!!!!!!!!

    September 28, 2008 12:56 pm at 12:56 pm |
  22. Malcolm L. McCallum

    Where were you, Wallsteet?

    Where were you Wall Street,
    when you let me go?
    Where were you when
    I was left with no benefits to show?
    Where were you when
    my phone bill was late?
    Where were you when
    it was yesterday I last ate?
    Where were you when
    I needed a loan?
    That time you decided
    to leave me alone?
    Where were you when
    your toxins were dumped on my house?
    When my child got sickly,
    where was the doubt?
    Where were you when
    I needed a hand?
    When I asked for help,
    you turned and ran.
    And now in a moment,
    you ask me for cash.
    From the little I have,
    it would go in a flash.
    You could have had pity,
    and gave me a break.
    You could have declared
    my payment could wait.
    Instead you attacked me
    with phone calls at night.
    Said what I thought
    was in the wrong light.
    You plastered your ads
    on the TV to show.
    How your pollution is good,
    and you love us so.
    How important to us,
    your contribution may be.
    Today I could care less,
    ‘cause you did not care for me.

    Malcolm L. McCallum
    Copyright (c) 2008. Malcolm L. McCallum. All Rights Reserved.

    September 28, 2008 12:56 pm at 12:56 pm |
  23. Trysh in Los Angeles

    THE DOCUMENT IS SUPPOSED TO BE ONLINE AS OF 12 NOON EST FOR 24 HOURS REVIEW.

    CNN will you be providing a link for us?

    September 28, 2008 12:57 pm at 12:57 pm |
  24. Mrs. Texas Teacher

    I sincerely believe that what McCain did in going back to Washington and trying to suspend the campaign was a smoke screen. Sure if Obama would have agreed, it would have been to his advantage. I suspect he spent the entire time honing up his debating skills.

    Obama did exactly what he should have done. He spoke to the Congressional Democrats that of what he thought should be done about the bail out. Then he went on with his campaigning leaving the logistics to the Congress. I am quite sure that he kept in touch with the Dems and knew exactly what they were doing.

    Isn't that what a President does? He doesn't drop everything and run to congressional leaders to hammer out logistics. A president has many things to deal with and MUST deal with them no matter what else he has on his plate. Of the two of them. Obama is the most presidential in my mind.

    McCain is reckless and flies off into lala land everytime something comes up. He is here, there and everywhere. He is impulsive, something one expects to have been lost with maturity! Of the two of them, Obama is the most cool under fire!

    September 28, 2008 12:58 pm at 12:58 pm |
  25. INDEPENDANT VET

    WELL WE SEE THE MEDIA AT IT'S BEST .

    OBAMA 'S IS THERE DARLINGS , AN THERE OWN TIES TO TERROIST

    WE KNOW THEY ARE MUSLIM LOVERS, AN WANT TO PUT THIS COUNTRY UP FOR SALE.
    WHAT EVER DON'T PRINT THIS , OBAMA S DEAR FRIND AN BEGINNER , TO LEARN HIM ABOUT POLITICS , THE CAPITAL BOMER WILLIAM AYERS .
    AN MICHELLE HAS MADE THE STATEMENTS , BLACKS FIRST AN FORE MOST . CORRECT.

    September 28, 2008 12:58 pm at 12:58 pm |
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