September 30th, 2008
08:40 AM ET
6 years ago

Obama seeks to sell bailout bill

Obama spent Monday evening in Reno working the phones.
Obama spent Monday evening in Reno working the phones.

RENO, Nevada (CNN) - Barack Obama spent Monday night in Reno, Nevada talking with officials in Washington and advisors on the failure of the economic bailout plan in Congress.

According to a senior campaign aide, the Illinois senator's remarks in Reno Tuesday will again center on the economic crisis – and how it could affect the average American.

Watch: House bailout rejected

Specifically, the aide told CNN Obama wants to highlight how the crisis extends past Wall Street and touches everyone – from those with 401K’s, to the small business owner trying to make payroll and families struggling with rising living costs.

After his remarks in Reno, Obama is slated to head to the Midwest for several days of campaigning in Wisconsin and Michigan.


Filed under: Candidate Barack Obama
soundoff (171 Responses)
  1. MikeH

    I'm beginning too think Obama can't win with this one, the 'bailout shouldn't happen, it's not for averafe Americans, its for Hedge Funds investors holding bad investment instruments. Let them lose, they're parasites anyway.

    I agree with Time Magazine. Credit will become hard to get for awhile but then will loosen up, because all the fat cats still want to make money. The average person won't benefit much from the proposed bailout structure. More emphasis on profits being shared with the tax-payers (us) needs to be written in or just let these greedy scum loose their shirts.

    September 30, 2008 11:20 am at 11:20 am |
  2. Anonymous

    i'm not for the bail out of these over paid wall street corporations, but i do trust senator Obama, give them some good advice that we can believe in and trust.

    September 30, 2008 11:21 am at 11:21 am |
  3. Letha

    Tax and Spend leaders are not needed for this problem. Let the greedy fall so the US can get back to real living. I am not for a socialist run government with their hands in my tax pocket. Obama is the man to do it and HIS advisors are the ideas behind the man. I am an independent voter and can see right though this joker. I am not in LaLa land with the ignorant Obamanation groupies. Go check the facts before you fall for the rhetoric he crams down the publics throat. He is a politican and will say what ever he needs to get the votes. I refuse to hear the promises I know will not and can not happen.

    September 30, 2008 11:22 am at 11:22 am |
  4. Trevor Guerlain

    Blame Obama and his gal pal Nancy Pelosi. DNC: it's the economy, stupid, so work in a bi-partisan fashion you shrill partisans!

    September 30, 2008 11:22 am at 11:22 am |
  5. worried

    Getting back to the poor people (less than 50,000 a year) What are you going to do for us really in regards to medical, schooling, and rising cost.

    September 30, 2008 11:22 am at 11:22 am |
  6. Independent but Leaning

    Obama doesn't have a clue. He's calling John McCain to figure out what's going on.

    September 30, 2008 11:22 am at 11:22 am |
  7. PCS / North Carolina

    Do not give the CEO’s Golden parachutes. If their company wants money from the bail out plan, the CEO’s contracts should be amended, so that they could not walk away with our tax payer money, in the form of GOLDEN PARACHUTE (GP). Please write to your congressman RE: GOLDEN PARACHUTE. The bill they put forth yesterday still had the provision for the GOLDEN PARACHUTE. (The existing GP on their contracts will still be honored). They must be kidding. They contained the EX pay limit to 500,000, but continued to have the provision for the GP. What it means is, if the CEO’s would not like their salary, they can still walk away with million dollars of our tax money, in the from of a GP.

    REMOVE GOLDEN PARACHUTES FROM THE CEO CONTRACTS.

    September 30, 2008 11:23 am at 11:23 am |
  8. voter

    Debby

    It doesn't make sense to provide $300 billion in tax cuts to the rich and the same coporations who got us in the mess to begin with. Meanwhile the average American worker gets nothing.

    September 30, 2008 11:24 am at 11:24 am |
  9. Biff

    I am reading the republican (ghost writers) reponses on here with utter dis-belief...

    "the democrats inserted partisan politics"
    -question... who made a huge stink, grandstanding and inserting themselves into the process that was working BEFORE they got there and BROKEN when they left... answer... McCain..

    "Obama selling Bush plan... More of the same... "
    – THIS IS PLAN TO SAVE "AMERICA'S" ECONOMY... NOT JUST BUSH

    "Obama has his hand in the cookie jar with Freddie and Fannie"
    –TWO WORDS... RICK DAVIS.... huh???

    ONLY "REPUBLICANS" CAN LOOK YOU IN THE EYE AND TELL YOU THAT THE GROUND IS ABOVE YOU, AND THE SKY IS BENEATH YOU!

    September 30, 2008 11:26 am at 11:26 am |
  10. MikeH

    Everyone, watch "Taxi to the Dark Side" to see what America has become under Bush. Think what new devices of torture Palin could introduce when she institutes the American Inquisition.

    September 30, 2008 11:26 am at 11:26 am |
  11. maynard hopkins wi

    obama where does your money come for the campaign?

    for once in your life try being honest ...tell the people of the united states that some of your money comes from SAUDI ARABIA IRAN CHINA AND OTHER EASTERN COUNTRIES,,,,

    FOLKS THIS CAN AND HAS BEEN CHECKED BY THE ISP ON THE INTERNET YOU SEE THERE ARE NO LAWS STATING WHERE YUOU CAN GET THE MONEY..... NOW THINK ABOUT HIS PICTURE WHEN HE WORE HIS ARBIC / MOSLEM GARB AND SHOW THE WORLD HIS ETHNIC BACKGROUND.....LITTLE DID WE KNOW THAT HE WAS ACCEOTING MONET FROM THEM

    THIS GUY CAN NOT BE TRUSTED. THE MONEY TRANSACTIONS HAVE BEEN FOLLOWED BY THE ISP TRACKING ON THE INTERNET

    September 30, 2008 11:26 am at 11:26 am |
  12. Filipina

    Stop whining you all....go and vote to Obama today, I did :-)

    Obama/Biden

    September 30, 2008 11:27 am at 11:27 am |
  13. Lynn in Saint Louis, Missouri, of course

    YEP, HE IS GOOD,!!! Maybe he can sell the bad debts to line the street to nowhere OR he could sell them to China and when they have value again they can pick them up and take them home to house all the bad stuff they put out!! We will then have enough money from the sale to do all the things OBAMA has planned for our country instead of giving him the worst economic crisis in our history. We finally get a great PERSON and they let this crisis go and go until they have costs us more and more and then dump it all in Obama's lap. Good Grief. But Obama is out there trying hard and did John, by any chance, say where he is going when he ran off mid stream again? OH I remember, he has to have someone pull up the internet to see what Obama plans next. SELL IT OBAMA!!! SELL IT!!!

    September 30, 2008 11:29 am at 11:29 am |
  14. Larry

    Barak Obama is so clueless about the economy he could not sell a coke at the right price and with the right provisions. If he really knew what he was doing, he would get on his plane and go to Washington and meet this the Democrats and Republicans (all of them) and sell them on his plan. He then has to sell the American Tax Payer on HIS plan. So far all he has done is "if you need me, call me". I think this response is indicative of his entire career. He is and has been so focused on becoming POTUS that he has abandoned his job, his responsibilites to the people of his state that elected him, and the American Tax Payer. If he is as respected as he claims, he would sit down with Pelosi, Reid, and Franks and tell them to rally the Democrats to support his plan. Peloci telling 16 of her Democrats that it is ok to vote no is crazy. Sounds like partisan politics to me. I mean really who is eratic here?

    September 30, 2008 11:32 am at 11:32 am |
  15. California Gold

    I find it unacceptable to break the piggy bank for the ones who got us into this mess and not provide funds for the debtor. Also modify the BK code to grant federal judges authority to modify mortgage loans so the homeowner can hold on to their home. Quid pro quo for both parties.

    September 30, 2008 11:34 am at 11:34 am |
  16. voter

    demwit

    He was on the phone with leaders after the colloapse of lehmen brothers which was two weeks ago to find a solution to the problem. Meanwhile McCain said the fundementals of the economy were strong. The reason Obama's efforts was not covered because drama queen McCain was walking around washington looking for a photo op instead of talking to lawmakers. the whole drama of whether he would show up to the debate added more good for t.v. coverage. Obama has been working hard on trying to get congress to reach an agreement and it has been confirmed by paulson, pelosi, reid and congressional leaders from both sides of the aisle.

    September 30, 2008 11:35 am at 11:35 am |
  17. PD Thomas

    Do your thing Obama...that's what will eb the role of the next President. Offer ideas...solutions...but the reason people are hired in positions is for them to do them and do them well. If Obama had to do it all to show leadership then we would be a dictatorship and that is not an acceptble alternative.

    McCain could be more constructive. He had a chance to reach out and work together if that was his real goal, but Obama has been burned once with that 'suspend my campaign' stunt. Lesson learned.

    Petulant children have no place in the White House which is why McCain-Pailin or Pailin-McCain depending...will not be in there...

    Republicans...it's time to 'bet on black'...'red's' played out...

    September 30, 2008 11:39 am at 11:39 am |
  18. Farrell, Houston, Tx

    While Obama stays with the issues McCain is busy trying to coverup for Palin's. What else will McCain try to coverup? You can trust him, I don't, we've had 8 years of lies and coverup.

    September 30, 2008 11:40 am at 11:40 am |
  19. Central Florida

    I am not a big fan of the whole bailout, but it unfortunately appears to be a necessary action to avoid financial crisis that would affect most Americans.

    Obama has remained calm and focused on bringing the parties together to find a bipartisan resolution. I admire that type of presidential leadership during these challenging times.

    September 30, 2008 11:42 am at 11:42 am |
  20. newsnut

    This eggmo of a candidate, reeks of an empty rubber suit. The phoniness is in his manner of speech. There is a couple of seconds between each word. One almost wants to finish his sentences for him. The Ah, ah's and the and, and's.Duh, duh's, is as if he's purposely trying to decieve . Thus, the snake oil saleman.

    September 30, 2008 11:42 am at 11:42 am |
  21. Karen

    Obama, thanks for being THE CALM IN THE STORM. We the American people need a person to think clearly and come up with a solution to save this country. It's unfortnate we cannot rely on the President of the United States nor McCain for good judgement. That's evident because McCain voted with President Bush 90% of the time. The President and McCain are REAL MAVERICKS ALRIGHT...except they rode in on their white horses and took this country NO WHERE!

    Obama/Biden '08

    September 30, 2008 11:47 am at 11:47 am |
1 2 3 4 5 6 7