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. Rudy NYC

    The American people are not sold on this idea because it resembles the fiscal policies that have dominated for the past 30 years, Trickle-Down Economics.

    As far as golden parachutes go, CEOs should not get them if the company accepts public funds. Period. Their contracts are easily voided by add terms into the contracts with these institutions that past contracts with executives are voided. I really do not care if the executives take a personal financial hit. Welcome to the country club, boys.

    But, can you put someone in charge of a company who has been spanked like that? What sort of job will they do? Can we trust them? Sure, we can. When the penalty is life in prison, they will do it or quit.

    September 30, 2008 10:01 am at 10:01 am |
  2. Barney

    Let us hear about Keating 5 again – the S&L mess that really started all this republican de-regulation in 1987. Come on CNN

    September 30, 2008 10:01 am at 10:01 am |
  3. Barney

    Come on CNN – tell us about Keating 5 again – republican de-regulation. You know.

    September 30, 2008 10:03 am at 10:03 am |
  4. Fabian

    Selling another Bail?

    September 30, 2008 10:04 am at 10:04 am |
  5. Barney

    Why am I being censored? I want details on the Keating 5 mess that started this – de-regulation.

    September 30, 2008 10:04 am at 10:04 am |
  6. Joe in NJ

    Why didn't Obama do this in the first place? Maybe he was counting on McCain to do it for him while he stayed on the campaign trail.

    September 30, 2008 10:05 am at 10:05 am |
  7. BRIDGE & ROAD TO NOWHERE

    @
    Super D September 30th, 2008 9:58 am ET

    REPEAT AFTER ME....YES SIR, PRESIDENT OBAMA.

    **GET OVER YOUR OWN LIFE'S DISAPPOINTMENTS**

    September 30, 2008 10:05 am at 10:05 am |
  8. Hey McCain- Thanks but no thanks

    Obama the "REAL" maverick!

    September 30, 2008 10:05 am at 10:05 am |
  9. ANGIE

    CNN CAN YOU PLEASE EDUCATE THE YOUNG VOTERS FIRST TIME VOTERS OF THE KEATING 5 AND MCCAINS INVOLEMENT I FEEL THE PUBLIC SHOULD BE EDUCATED ON IT! LORD KNOWS FOX NEWS WOULDNT DARE BRING UP KEATING 5

    September 30, 2008 10:06 am at 10:06 am |
  10. BRIDGE & ROAD TO NOWHERE

    @
    Alice Brinkley September 30th, 2008 9:45 am ET

    AND LET'S TAKE A GUESS...YOU UMM .. VOTED FOR BUSH, YEAH, STAY FAITHFUL TO YOUR PARTY. BUT WE KNOW YOUR KIND.

    September 30, 2008 10:07 am at 10:07 am |
  11. Anonymous

    Barrack better be very careful. This bailout/rescue is a no win proposition politically. It is obvious that the taxpayers don't like it but on the otherhand the argument is that it is necessary to stabilize the financial markets. Nobody really knows whether this bailout will do what it is hoped it is suppose to do. If this is true then how can anybody argue that doing nothing is worse.

    September 30, 2008 10:09 am at 10:09 am |
  12. kate

    Look at Missouri.Barack Obama Truth Squad???? What a joke. He is not a leader. He waits to see what McCain say or does and then reacts. What a waste. Him and Biden! And they have the nerve to pint fingers!!!!!!

    September 30, 2008 10:09 am at 10:09 am |
  13. Rob Kole

    Senator Obama,

    Please do not treat us as children, we know what the impact is of this crisis is to us. No need to tell us.

    I wonder what the people who voted for you are thinking when they see you still running around the country running for president instead of back at washington doing the job of representing their interests?

    Leadership would have him flying back to washington, opening the doors of the senate and calling every single senator to get back in session rather than take time off. Not picking up a phone.

    September 30, 2008 10:09 am at 10:09 am |
  14. Illinois voter

    People should realize who is at the root of this problem and vote out of office all those involved. most especially Barney Frank and Chris Dodd who are dirty as mud in this financial mess. The republicans tried to warn about Freddie and Fannie and those two idiots said there is nothing wrong there. and why? because they were in bed with them and they were naked under those sheets. and you can guess at what they were doing. take off the blinders and dont listen to the mudslinging against republicans because those who are throwing that mud are deep in it and they are only trying to dig themselves out and make themselves look oh so innocent. a smart and enlightened voter wont fall for it.

    September 30, 2008 10:10 am at 10:10 am |
  15. Tony

    Barrack better be very careful. This bailout/rescue is a no win proposition politically. It is obvious that the taxpayers don't like it but on the otherhand the argument is that it is necessary to stabilize the financial markets. Nobody really knows whether this bailout will do what it is hoped it is suppose to do. If this is true then how can anybody argue that doing nothing is worse.

    September 30, 2008 10:10 am at 10:10 am |
  16. Palin is a puppet

    Meanwhile Sarah Palin is cramming for her first real test in life, how to debate and act like you are intellignet. She probably needs an Atlas to point out where her igloo in Alaska is, haha what a joke! I can't believe some Americans are dumb enough to vote for McCain based on this puppet !

    September 30, 2008 10:10 am at 10:10 am |
  17. pascal

    ouuurah ! OBAMA
    you are not only impressing me but showing how to handle.you are a good example .

    September 30, 2008 10:11 am at 10:11 am |
  18. Stacy from Loudoun County, VA

    Obama has been presidential during this whole process. The President would not be up on the Hill beating the bill through. He would have people working on that.

    McCain acted more like President Tug Benson of Hot Shots Part Deux fame...if you have not seen it, you will understand.

    September 30, 2008 10:11 am at 10:11 am |
  19. Repeal the CRA

    The bailout plan merely puts a band-aid on cancer. It addresses the immediate symptoms, NOT the root cause of the illness.

    Repeal the Community Reinvestment Act of 1977.
    Dismantle Fannie.
    Dismantle Freddie.

    If you don't do these three things, we'll be right back here again faster than you think.

    It took 13 years after Clinton bolstered the CRA in 1995 for us to find ourselves in our current predicament.. My bet is, unless these three things are not part of the bailout plan, we'll be right back here in less than 10 years.

    September 30, 2008 10:11 am at 10:11 am |
  20. andy

    Mr. President obama knows when and where he needs to do but grandpa mccain idea is still being remained in war.. he doesn't understand about economy, he doesn't know to manage the bail out plan well..

    grandpa mcsame is date out.. so we just have to lood ahead to president obama....

    September 30, 2008 10:11 am at 10:11 am |
  21. California Voter

    Now Obama is jumping into action . . .isn't this a day late and few dollars short? Is this the kind of leadership we want?

    September 30, 2008 10:11 am at 10:11 am |
  22. Scott in Atlanta

    You know what... How many times in the last year have you gone to the bank to take out a loan?

    Exactly.

    But we're the one's that the Republican's are blaming for letting the bill go down in flames.

    Well, that's not true, even though, if it were... I'd understand.

    Barack, don't expend any of your politcal capital to help pull their heads out of their butts. Let'em rot and let John Mccain take his own bullets. Sure he puts the country first. Kind of like a bank robber puts the hostage first. He puts the hostage right in front of him to deflect or absorb any incoming fire. That's how he puts country first.

    September 30, 2008 10:12 am at 10:12 am |
  23. Brian

    OBAMA

    GETS

    IT.

    MCCAIN

    DON'T.

    OBAMA/BIDEN '08!!!

    September 30, 2008 10:13 am at 10:13 am |
  24. Ron

    what does sen. Obama know about the far reaching effects of this bail out proposal? he has no economic experience that comes close to him being able to grasp the end results of whats being tabled, all we are really hearing from him are what his advisers are telling him to say. they are the ones pulling the strings, guys like Buffet who just coincidental picked up a nice company don't you think and much more to come. so we are not listening to sen. Obama but to people who will chance to gain from the advice

    September 30, 2008 10:13 am at 10:13 am |
  25. lyn

    I am so impressed of the way Obama is handling this mess ,that the McSame and the republicans created. Obama shows Leadership and McSame shows that he can't solve problems. "Go Obama & Biden Go".

    September 30, 2008 10:13 am at 10:13 am |
1 2 3 4 5 6 7