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. Jeff Brown

    Be careful Barack, this bailout stinks and the voters do not like it!

    September 30, 2008 10:30 am at 10:30 am |
  2. Tucker Bounds

    Exaggeration and truth-stretching is standard fare in politicking, but McCain spokesman Tucker Bounds took it to a new level today when he told Andrea Mitchell that John McCain’s selfless act of leadership in coming back to Washington single-handedly helped push through negotiations on the bailout bill. Nevermind the fact that McCain still hasn’t contacted the ranking Republican on the Banking Committee, Richard Shelby, and that his campaign is very much still in effect… John McCain put country first and personally saved the economy from disaster. Give me a break.

    September 30, 2008 10:30 am at 10:30 am |
  3. Maggie from Virginia

    I can sum it up this mess in one work "Deregulation". John McCain has been a champion of deregulation the entire time he's been in the Senate. And, he said on 60 minutes 9/21/08 that he does not regret it. But, he's NOW for governent bailing out the bums. I say show McCain the door. If this is not enough to send this man to retirement, I don't know what is. God is trying to tell us something. Open your eyes and ears people.

    September 30, 2008 10:30 am at 10:30 am |
  4. Obama.....all bark, no bite, should try lipstick

    Obama is a FIRST TERM SENATOR who THINKS he has pull in Washington!!!! HE"S A JOKE!!!

    1st TERM SENATOR who should stay in the Senate and do his job for the people who elected him. Illinois voters were robbed of their votes when they picked Obama.

    DO YOUR JOB..........you were voted in to WORK......not travel the country giving mind numbing BS Speeches!!!

    He's full of IT and full of himself!!!!!!

    September 30, 2008 10:31 am at 10:31 am |
  5. lyn

    McSame and the Republicans put the Americans people in this mess. Now McSame is blaming Obama.I have something to tell you McSame stop blaming Obama & the Democrats for the mess you and the Republicans created.

    September 30, 2008 10:31 am at 10:31 am |
  6. Independent-Latina-for-OBAMA

    THERE ARE MANY COMMENTS BY THE FAR-RIGHT ACCUSING THE DEMOCRATS OF THIS MESS. WELL HERE ARE SOME FACTS THAT.......PROVE.........THE.........OPPOSITE. YOU MUST LEARN FROM MISTAKES SO YOU DON'T MAKE THE SAME ONE OVER & OVER!

    1. During the Bush/Cheney/McCain years our National Debt has DOULBLED.......$11.5 TRILLION......OWED to China, Saudi Arabia (the people who attacked us on 9/11!) & Dubai.

    2. During the Bush/Cheney/McCain years we have spent ..........$10........BILLION........A.........MONTH in Iraq!

    3. At the beginning of 2009, OUR NATION WILL BEGIN THE YEAR WITH .......OVER........$490..........BILLION DOLLARS........IN DEFICIT!

    4. THIS YEAR WE HAVE LOST..........600, 000 JOBS AND COUNTING!

    5. YESTERDAY......WE.........AMERICANS.........LOST..........$1.2 TRILLION DOLLARS!

    YOU CAN BLAME THE DEMOCRATS IF YOU WANT. IT TAKES A BIG MAN OR WOMAN TO ADMIT THAT THEIR PARTY IS WRONG!

    I ONCE WAS A REPUBLICAN, BUT ONCE I STARTED TO THINK FOR MYSELF, DID THE RESEARCH, CHECKED OUT FACTS.........IT WAS OBVIOUS THAT THE LAST ...........EIGHT..........YEARS........OF .........REPUBLICAN......RULE..........HAVE BEEN .......A.......DISASTER!

    September 30, 2008 10:33 am at 10:33 am |
  7. cnn is not going to post this

    this is ridiculous. how is everyone blaming Pelosi's comments before the bailout on its failure. I mean, seriously, everyone in the House should be an adult. Someone name calling should stop them from taking care of their business. "I didn't vote for the bailout cause Nancy Pelosi said something mean to me..." Grow UP!!!

    September 30, 2008 10:33 am at 10:33 am |
  8. BK

    Obama is one of the reasons this happened. Look up ACORN. We know now what Obama done as a community organizer, he trained the personel to force banks to give loans to people who couldn't afford them. Some of their members are also in jail for voter fraud. Sound familar. This is a radical group that was started back in the 60's. The Dems had in the bail out bill 20% of the profit going to ACORN. The Reps. got it taken out. Better do your research before voting.

    The speech Obama gave on the war, he didn't want to give that speech. The left radical group that was backing him with the money told him he better come out against the war.

    September 30, 2008 10:35 am at 10:35 am |
  9. beevee

    With his charm and convincing abilities may be Obama can can get the dems who voted against the bill to favor it in the next go round. Obama 08.

    September 30, 2008 10:36 am at 10:36 am |
  10. Debby

    Yeah Obama we know it extends to everyone but taxing us to death isn't the solution either. When the economy is bad you don't raise capital gain taxes. Any first year acct. student will tell you that.

    September 30, 2008 10:36 am at 10:36 am |
  11. AJ

    Obama is good at selling snake oil; we have seen that throughout his campaign. What he is obviously not good at is listening to the people who would be his constituents and understanding our grave misgivings about any government bailout plan. It's time to let irresponsible companies sink under the weight of greed and recklessness. Our nation might have a rough period but he market will eventually right itself with no help from the government. If allowed to take its own course, our economy will come out stronger and perhaps corporate America will come out smarter.

    September 30, 2008 10:38 am at 10:38 am |
  12. JammyDevil

    Sorry Obama but this is one Democrat who is thankful to the Republicans for defeating this bill. Wall St should NOT be bailed out.

    Want to end this crisis? Reset every ARM out there for the homeowners who can AFFORD to stay in their houses at todays interest rates.. I'm a first time buyer, I bought a reasonably priced house – my mortgage broker pushed an ARM my way saying this was all that was available to me. Its about to reset for the second time to 12%. I am prepared to walk away as I will not spend 50% of my salary on a house I will eventually be upsidedown on.

    September 30, 2008 10:39 am at 10:39 am |
  13. dennis from chicago

    what does raising the FDIC LIMIT TO 250000 BE ANY DIFFERENT THAN HAVING THREE SEPARATE ACCOUNTS INSURED TO 100000 DOLLARS EACH..... judment WE DON'T NEED...IN FACT SPREADING THE MONEY THIS WAY[100000 INSURED LIMITATIONS] ADVANCES THE BANKING INDUSTRY INTO SMALLER NEIGHBOR HOODS/// MY GOODNESS THAT'S IS AS DUMB AS VOTING FOR THE BRIDGE TO NOWHERE////OBAMA'S BEST VOTE YET///

    September 30, 2008 10:40 am at 10:40 am |
  14. Scott NYC Independent

    Now the voice a clam and reason comes to our rescue. Thank you.

    September 30, 2008 10:40 am at 10:40 am |
  15. Chris from Delmar

    1) The bankers have gone on a credit "strike". They are refusing to lend money because they won't get a hefty enough return. The governmenst hould break this "strike". Do what some European countries are doing – nationalise the banks if they won't free up credit!

    2) The Black Caucus voted no because there is no provision for bankruptcy judges to change mortgage rates. Good for them!

    3) There is nothing in this bill to stop foreclosures – if there is not a moratorium on that, then this bill should go nowhere. This is the people's treasury, not the banks! Hands off of it!

    September 30, 2008 10:40 am at 10:40 am |
  16. Judy from NC

    For those of you who keep saying Obama received more from Freddie and Fannie, please do your research. Obama's contributions came from people who worked for Freddie and Fannie. McCain received much more from the board of directors and lobbyists at Freddie and Fannie. Please don't be stupid!

    September 30, 2008 10:41 am at 10:41 am |
  17. Michelle

    I really hope that the Mccain- Palin supporters wake up from their outrageous dream that Mccain...especially Palin would actually lead this country in the right direction. Mccain is not a young man...the odds are against him "sorry to say"..but it is the truth. Palin could be President (God help us all)! Talk about being laughed at by other countries and we would be so vulnerable. Please people "WAKE UP!!!" PLEASE!!!!!

    September 30, 2008 10:41 am at 10:41 am |
  18. Terie

    I already sent in my ballot and voted early for Obama/Biden team. My whole family is voting for the Obama ticket..he is the leader that we need. He exhibited calmness to the people, explained the seriousness of the rejected bailout in Washington, the serious impact it will have in our lives, and a very concerned team player who will help find solutions to help America out of this very turbulent economic times created by 8 yrs of a KNOW NOTHING Republican president Bush who was too busy giving away billions and billions of dollars to other countries instead helping his own people and his own country, too busy winking and tap dancing outside the White House Porch as if he was a dance contestant on" Dancing With The Stars" Show, and his Republican cronies who were too busy living the good life on taxpayers' money.

    I deeply resented McCain to quickly pointed his arthritic blaming wrinkled finger on Obama who had nothing to do with the rejected bailout yesterday. Republicans are so quick on the draw to put blames on others instead of going back to the drawing board to do alot of brainstorming to solve the economic crisis we are facing. John McBlame others is doing a great disservice to our American people!

    September 30, 2008 10:42 am at 10:42 am |
  19. bridgette

    Just google Keating 5 it will come up. Why is no one mentioning the two banks in Nevada that has failed under McCain's eldest son. Why not.

    September 30, 2008 10:42 am at 10:42 am |
  20. dannette

    Obama, is putting country first, knowing that most Americans don't get that the consequences of not saving the banks, will hurt the econmoy. Obama, is wiiling to risk upsetting voters! That's the kind of president we need!

    September 30, 2008 10:44 am at 10:44 am |
  21. ross berg

    Obama couldn't have created a more perfect storm for himself. If the Palin/Biden debate turns ugly it's all over.

    I'm a lifelong Republican who for the first time will vote Democratic as 4 more years of this bs could well be fatal.

    IMHO-Ross Berg

    September 30, 2008 10:46 am at 10:46 am |
  22. ran

    Real leadership we all can count on.

    People vote Obama/Biden and only other Democrats this time and we will get out of the messes the Republicans have gotten us into.

    No bail out for the rich. Give us the money and we will stimulate the economy ourselves.

    September 30, 2008 10:47 am at 10:47 am |
  23. Proactive voter

    We have to focus on the future not on the past
    A leader with required for this country
    OBAMA an excellent leader
    OBAMA proactive

    Barack&Biden 08

    September 30, 2008 10:49 am at 10:49 am |
  24. john

    john is bomber , barrack is saver...

    September 30, 2008 10:50 am at 10:50 am |
  25. BK

    Look no farther than Barney Franks, Chris Dodd, and Obama for the cause of the mortgage melt down. They are the very people that caused this. Franks is on tape 2 years ago saying their was nothing wrong with Fannie and Freddie. Dodd number 1 and Obama number 2 taker of Fannie and Freddie. You all have been bamboozled by Obama. All of them need to be thrown out of our government.

    CNN wher is the article about Obama and ACORN?

    September 30, 2008 10:51 am at 10:51 am |
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