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. ines

    Go Obama! If the Republicans can't act on their OWN BILL, find 10 more Democrats.

    September 30, 2008 10:13 am at 10:13 am |
  2. vonne

    Just let some of you know...Obama wanted $120 billion dollars added into the bill for ACRON. For those who don't know what this is-it is suppose to help poor families in the projects basically a welfare organization. However, I seriously doubt it would have gotten to the people...The board has to be paid first.

    September 30, 2008 10:14 am at 10:14 am |
  3. Obama-Junkie, IL

    Obama needs to tell his advisers, "GIVE ME A SIMPLE VISUAL METHOD TO EXPLAIN THE ECONOMIC CRISIS".

    I think if Obama borrowed a Ross Perot tactic where he had some simple charts to point to during a town hall meeting or rally, this would greatly increase his stock in becoming the next president of the US.

    Sorry but the average American is dumb financially. Using advanced financial lingo is wasted on the average American. Keep it simple and keep it sweet with lots of repetition is the best way to educate Americans.

    September 30, 2008 10:14 am at 10:14 am |
  4. A CANUCK

    Let's discus the Keating Five..........that might shut McCain up....with his lies and disrespectful behavior towards Obama. All MCCain did in Washington was screw things up.....and then blame the failure on Obama. McCain must be senile ....look who he chose as VP !!!!!!

    September 30, 2008 10:14 am at 10:14 am |
  5. Phil Newton Murphy, Oregon

    This is how real work - not photo ops - gets done.

    Obama = REAL LEADER.

    September 30, 2008 10:14 am at 10:14 am |
  6. therealist

    McCain has been warning of the dangers cheap captial. But what has Obama been doing for the last 4 years!?

    In my book, Sarah's inexperience is better than Obama's dismal experience..

    September 30, 2008 10:15 am at 10:15 am |
  7. JImmy in California

    Senator McCain said Monday, "I will never, ever be a president who sits on the sidelines when this country faces a crisis." I am glad Senator McCain realizes this. HE GOT THAT. The election of Senator Obama as POTUS will insure that.

    September 30, 2008 10:15 am at 10:15 am |
  8. Rob

    Obama isn't doing squat. Oooh, he's on the phone, yeah, probably ordering from Oprah.com.

    Hey, all you Republican/McCain/Palin/Bush bashers, Pelosi couldn't even get her own party on board, so don't say it's the Republicans' fault. She was even telling people in her own party not to vote for it. She is the worst speaker of the house in the history of that position.

    You want to see how bad things could really get? Just put the 3 Stooges in charge – Obama, Reid, and Pelosi. Reid and Pelosi have destroyed Congress since they took over, and Obama, if (God forbid) he gets elected, will let the idiocy run amok. The man is a failed community organizer (ACORN anyone?), yet you want to put him in the highest job in the world. You defy all sense or reason.

    September 30, 2008 10:16 am at 10:16 am |
  9. demwit

    Joe Biden should call Roosevelt and get him to make another calming presentation on TV for us..

    September 30, 2008 10:16 am at 10:16 am |
  10. Miller

    I am not american but really hope that the judgement and soundness of the american mind which is interwoven in the fabric of their democracy really supports Obama and give him a chance to lead this great country.

    September 30, 2008 10:17 am at 10:17 am |
  11. Gramma Faye /Idaho

    research the Federal Housing Enterprise Regulatory Reform Act of 2005.
    If you really want some insight of how long this mess has been known about and who helped cover up.
    Barney Frank got it rejected. It is rumored he had a lover that was executive ot Fannie.
    Doubt this will get posted because there is so much cover up and one sided thinking here.

    September 30, 2008 10:18 am at 10:18 am |
  12. Ed

    Uh... Uh... Uh... That is how Obama thinks. Waiting for someone to give him a clue.

    If Senator Obama would simply listen to his constituents rather than his rich cloneys handing out cash at Fannie Mae and Fannie Mac he might be able to come up with an answer himself.

    September 30, 2008 10:21 am at 10:21 am |
  13. JW

    No Barack – No bailout, no rescue, no Jack Squat.

    September 30, 2008 10:22 am at 10:22 am |
  14. Greg

    OK...quick civics lesson here.

    Obama didn't need to get his party on board with the original bill because they delivered all the votes they agreed to!!!

    BI-partisan bill people! The Dems provide "X" amount of votes, the Repubs provide "Y" amount.

    The Dems came up with the votes they said they would. This was on Bush, and because he interjected himself into it, and McCain to push their party to pony up the votes AGREED UPON!!!

    Learn a little about how government works and then you can whine and moan.

    September 30, 2008 10:22 am at 10:22 am |
  15. Obama-Junkie, IL

    America fiscally is doomed. The House Republicans are too scared politically to vote for the bill prior to November 4th because they are worried about their own re-elections.

    I say let the House Republicans hold up the vote. The Democrats have delivered 60% support for the bill while the Republicans only delivered 30%. Let the DOW go from 12,000 to 9000 and Americans lose about $4 trillion dollars of worth. Then when the unemployment rate goes from 6.1% to 10.1% and banks start cutting credit card limits and refuse to issue out loans to many individuals and small businesses, the many doubters of acting fast will pay the consequences.

    This is a great way to usher in a Democratic President and a majority proof Democratic congress.

    The Republican party is going down in flames.

    September 30, 2008 10:23 am at 10:23 am |
  16. Becky

    This is the 21st Century where technology (mobile phones, blackberries, email, voicemail, video conferences) help make ideas come into fruition more quickly.

    McCain is the 20th Century. Lacking the skills needed for the highest office in America. McCain doesn't have the basic communication skills needed to be a CEO of ANY COMPANY. Maybe a consultant, but then again consultants need to know how to email... Just retire already. We all know you just want to be President to be President. Will you take more vacations that George W. Bush? (IS THAT POSSIBLE?)

    September 30, 2008 10:24 am at 10:24 am |
  17. Sweetie

    After costing America over a Trillion Dollars the Liberal Democrats want us to elect their "Chosen", not elected Candidate into office!

    NO WAY IS OBAMA GOOD FOR THIS COUNTRY;

    HE WILL BRING IT TO COMPLETE RUIN, ALONG WITH THE LIBERAL LEFT!

    McCain/Palin-08-In a Landslide!

    September 30, 2008 10:25 am at 10:25 am |
  18. bigmike

    John McCain defended his decision to suspend his campaign last week to be on hand as Congress hammered out the details of the financial bailout plan that failed in a House vote Monday afternoon, telling an Ohio crowd that he left the campaign trail because he did not want to “simply phone it in.”
    “I know that many of you have noticed, but it’s not my style to simply ‘phone it in.’ I am a Teddy Roosevelt Republican. I believe our leaders belong ‘in the arena’ when our country faces a challenge,” said the Republican nominee. “I’ve never been afraid of stepping in to solve problems for the American people, and I’m not going to stop now

    September 30, 2008 10:25 am at 10:25 am |
  19. Robert in raleigh

    congradulations BO continue to show the calmness it takes to be a leader in a crisis .......

    September 30, 2008 10:26 am at 10:26 am |
  20. andy

    Mcsame knows nothing about financial , economy.. don't ask him about economy, financial..
    but u can ask and get advice about war, bombs, bloods, soldier collapes and ... how to waste money in war altough the american peole are suffering from financial, credit crunch, health care, education..

    Mcsame will bring war and more financial crisis than ever .... don't trust himmm...

    September 30, 2008 10:26 am at 10:26 am |
  21. Chipster

    Sen. Obama has been calm and handled this situation well. However, I do disagree with him. A $700 billion bailout only encourages more of the same reckless behavior and endangers important government programs.

    Restore banking and market regulations. That's it. Just restore the regulations and let the market adjust. Yes, it will be painful but there should be consequences for the financial orgy that the American people have allowed, even encouraged, for the last 7 years.

    September 30, 2008 10:26 am at 10:26 am |
  22. bigmike

    I'm sure McSame will come back on his white horse and tell his friends to vote to continue deregulation (look below and read if you don't believe).
    1. 1982: Garn-St. Germain Depository Institutions Act
    2. 1987: Keating Five
    3. 1999: Gramm-Leach-Bliley Act
    4. 2000: Commodity Futures Modernization Act, which led to the rise of Credit Default Swaps
    The common thread? John McCain was involved in all of them.
    This mess goes clear back to the 1980s, folks. It flared up a few times, but has now become volcanic. It can no longer be ignored, hence our current situation

    September 30, 2008 10:27 am at 10:27 am |
  23. bigmike

    Shortly before 2pm ET, McCain spokesman Tucker Bounds said on MSNBC that his boss deserves credit for the bipartisan bailout deal

    September 30, 2008 10:29 am at 10:29 am |
  24. Repeal the CRA

    Obama wants to push FDIC coverage up to $250K. Uh, what?

    What sort of numbnuts has more than $100K in a freaking bank? Sorry, my investments are all spread around quite nicely and still earning well, thank you very much.

    If you're dumb enough to keep $100K in a bank and not diversified elsewhere, you deserve to lose it.

    September 30, 2008 10:30 am at 10:30 am |
  25. Leo "Hussien" Smith

    IN WHAT RESPECT CHERLEY? REPUBS DONT LOVE AMERICA ,,,,,,,ONLY MONEY.
    OBAM/A/BIDEN THE ONLY CHOICE....... THE OTHER IS SUICIDE.

    September 30, 2008 10:30 am at 10:30 am |
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