October 14, 2008
Posted: 07:50 AM ET
President Bush announced a new plan to help 'struggling banks' Tuesday.'
President Bush announced a new plan to help 'struggling banks' Tuesday.'

WASHINGTON (CNN) — President Bush announced Tuesday that part of the $700 billion financial bailout package will be used to inject capital into banks by buying their shares.

"This new capital will help struggling banks to fill the hole filled by crisis during the time we are in," he said. "This is a short-term measure to insure the viablilty of America's banking system."

According to a person briefed on the proposal, the Treasury Department will invest as much as $250 billion of the $700 billion plan in banks.

Watch: Bailout Plan Reaction

Bush also announced that the Federal Deposit Insurance Corporation will "temporarily guarantee most new debt" issued by banks that are FDIC insured. That action will take effect immediately.

"This will address one of the central problems plaguing our financial system — banks have been unable to borrow money and that has constricted their ability to lend to consumer and businesses," Bush said.

"When money flows freely between banks, it will make it easy for Americans to borrow money for homes and cars."

The government, through the FDIC, will also immediately and temporarily insure non-interest-bearing transaction accounts which are used mainly by small businesses "to cover day-to-day operations."

"By insuring every dollar in these accounts, we will give small business owners piece of mind and bring greater stability to the banking system," Bush said.

Bush also announced that the Federal Reserve is finalizing a plan in which it would be the "buyer of last resort for commercial paper."

"By unfreezing the market for commercial paper, the Federal Reserve will help American businesses meet payroll and purchase inventory and invest to create jobs," he said.

Filed under: President Bush


JBW   October 14th, 2008 10:27 am ET

Yeah guys,
Keep telling yourself that Barney Frank and his boyfriend at Freddie Mac had nothing to do with any of this….

Scott, Wichita   October 14th, 2008 10:27 am ET

carmen collins-foran October 14th, 2008 9:26 am ET

Giving our money to your friends as usual.

That's a liberal Idea:
Take my hard-earned money, and give it to idiots who made bad choices. Wish I could CHOOSE where my tax money went: I'd choose 0% to social programs, 65% to military/defense, and 35% to the deficit

Sam Benegal   October 14th, 2008 10:26 am ET

Remember back in 2004…. Republican's slogan was "if you are not supporing them you are Un-American, Un-Patriotic…."…

We can have a difference of opinion but at the end we are all American's. Together we shine or we suffer.

But calling a Presidential nominee as "Terrorist" or shouting "Kill him" just crossed the line. If Obama is not nominee someone else supposed to be nominee… But we do not shout for an opponents head. Thats just pathetic or truly uncalled for. It did incite the base but just turned away many independant or moderate from voting republicans..

Moe, NY   October 14th, 2008 10:25 am ET

Sweetie…just what country do you live in? In case you haven't noticed, the people of America, in many cases, are starving, have lost their money in the stock market, 401k's, have lost their homes, or are in the process of forecloseure, some have comitted suicide rather than live on the streets. My God…wake up and look around you…all of this happened on the Republican watch and, the Republican administration continues to bail out Corporate America and do nothing for the American people. I have news for you Sweetie, the Republicans have taken us down.

Informed Voter   October 14th, 2008 10:23 am ET

To all Bush/Mc Cain supporters ….. Nobody would be worse than Bush ……… not Obama not even Mc Cain (he'll be the same not worse) ….

I rather have a Havard Graduate (Obama) surrounded by Clinton Economic Advisors …. than an Economic Farud /Deregulator (Mc Cain) surrounded by the Phil Grahams running the US Economy …

I trust Obama with the US Economy

Will in Richmond, VA   October 14th, 2008 10:23 am ET

According to the markets this morning, this plan is looking good. We really need to solve this crisis as people's jobs are whats really at stake here.

McCain is a Baby   October 14th, 2008 10:23 am ET

Guess who included the restriction in the bill to allow the Treasury to take such a step? The Republicans? NOPE. The answer is the DEMOCRATS. The Democrats put Country First. The Republicans put Party First.

Ian   October 14th, 2008 10:23 am ET

Our children and their children will be paying for this. What are we going to do in 2010 when the social security issue rears it's head? What are we going to do in November??

I can only vote for the one candidate who was warning us about this mess over a year ago.

Ron Paul '08

matt in pittsburgh   October 14th, 2008 10:21 am ET

right on the nose Ken S., Karl Marx's friend and Sweetie. you nailed it exactly.

why weren't you liberals screaming 3 years ago when the market was at 14,000? Now that the liberal policies of giving mortagages to people who had no business buying a home in the first place has come home to roost you need a scapegoat.

Your scapegoat should be Jim Johnson, Franklin Raines and all the liberals in congress who wouldn't investigate them for fear of losing all those campaign contributions.

I'm not ready to put on my brown shirt or look over my shoulder for the truth squads yet.

Obama has no plan except raise taxes. deal with it.

For Obama   October 14th, 2008 10:21 am ET

Well the bailout was for $700 Billion, we used $300 Billion to bailout Wall Street and today another $250 Billion to buy up Banks, that only leaves $150 Billion left. So where is McCain coming up with another $300 Billion for his plan today. This stupid man can't even do simple subtraction, how can he possible run this country.

Ian   October 14th, 2008 10:20 am ET

Rest easy everyone. The same people that caused this are going to fix it. Makes you wonder if it was purposeful.

Ron Paul '08

ANGIE   October 14th, 2008 10:20 am ET

I Wish this man would stay out of our affairs he has done enough damage for the last eight years thank god we have a democrat congress!

Matt MC   October 14th, 2008 10:19 am ET

What about all that "bad debt" that's clogging the market? Is it just me or will that bad debt still be there even if you give banks more capital? This seems like another short-term solution and one that was not discussed in the original agreement. So what's going to happen now? We pump money into these stocks and it goes up for a few days, but there's still all that bad debt?!

Robert The Man   October 14th, 2008 10:19 am ET

Hi I'm Barack Obama, I want to do over one trillion in new spending and make the deficit that much worse. I agreed with Bushs' economic plan. Do you people understand that re-distribution of wealth is socialism??? Just because Person A works hard in life and makes a decent amount of money does not mean he should have to give some to Person B who is lazy, and does not put forth to effort to be successful.

Spencer/Commonwealth of Virginia   October 14th, 2008 10:19 am ET

As much I would hate to admit it, I think Bush is handling the situation fairly reasonable. Now let me go shoot myself.

Amy For America   October 14th, 2008 10:18 am ET

(continuation)
….and will hopefully EJECT me from the WHite House. God willing, my fellow Americans, Obama shall take over for he is certainly more … clever!

Patriot   October 14th, 2008 10:18 am ET

Every time a Repub gets in the White House, the economy goes to hell and a Dem President has to make things right again. Clinton fixed the mess of the Reagan / Poppy Bush years and created a budget surplus. Now Obama is going to have fix inept little Junior's mess.

Hopefully Americans now realize that Repubs do not know how to handle the economy. No more "trickle down economics!" No more de-regulation of corporate buddies, and no more corporate welfare! Enough!

bill   October 14th, 2008 10:17 am ET

SWEETIE YOU ARE SOOO MISINFORMED OR BLIND OR BOTH WHAT DID BUSH DO WELL LETS SET THE RECORD STRAIGHT HE LIED TOOK THIS COUNTRY TO WAR ON LIES OVER 4000 AMERICANS KILLED THOUSANDS WOUNDED thousands of iraqes killed billions of u s tax dollars for lie sweetie this is just for starters

rob   October 14th, 2008 10:16 am ET

To sweetie you must be taking some of Cindy;s magic little pills–If Mc Cain gets in we can all kiss this country good-bye .We will be in so many wars and we don't have the money now .Thats' his whole selling point and its war…..

For Obama   October 14th, 2008 10:15 am ET

Sweetie "If you like your Life vote for McCain" In other words if you like the way Bush has run this country into the ground the past 8 years and you don't want that to change then vote for McCain because he will continue those same failed policies. Do you even think before you write on here. No person in their right mind wants to continue to see our Government run the way it has the past 8 years.

f kimbrough   October 14th, 2008 10:14 am ET

another great policy from the bush administration…why don't we just borrow the money from iraq with interest even though it was ours to begin with…yeah sweetie cause we are much better off with republicans and vodoo economics that has failed twice now in the last 30 years..just let history repeat itself

Sujith, NE   October 14th, 2008 10:14 am ET

ok, so first McSanile said, he wont have a plan till maybe thrusday.One day after Obama comes out with a plan, he suddenly has one!? Got "inspired" by Obama and maybe even, stole some(most) of his ideas?
Dont vote for Pathetic and Dumb

Vote smart, vote Obama/Biden !

Scott in Atlanta   October 14th, 2008 10:12 am ET

LOL… "That one is Karl Marxs friend too" All I have to say is your probably voted for bush and you're calling me a sheep??? Nuff Said.

Pat, Pa.   October 14th, 2008 10:12 am ET

Hey Sweetie, get in the real world and learn the facts of which you speak.

Ken S.   October 14th, 2008 10:09 am ET

All of you who responded negetively to this column need to tie your powercord around your neck and toss you pc out the window. You think its Bush's Fault the economy is in the shape its in well its NOT…..ITS PEOPLE LIKE YOU WHO DONT PAY YOUR BILLS, OR SLACK OFF AT YOUR JOB SO BAD YOU GET FIRED.. YOUR ALL SO EAGER TO POINT FINGERS AT THE NEXT PERSON, GROW UP, BE A AMERICAN AND A VALUEABLE MEMBER OF YOUR SOCIETY FOR ONCE.. JEEZ.. IVE NEVER HEARD SO MANY PEOPLE SOUND AS THOUGH THEY STOPPED AT A 3RD GRADE EDUCATION

Donn   October 14th, 2008 10:08 am ET

Checks and balances were intended to keep one part of government from becoming too strong not for keeping political parties fighting one another despite what is good for the country. The Gop and Dems keep acting as if only they have the right answer. Neither does if they wont listen and work together. Our leaders need to stop fighting like kids on the playground and govern with the PEOPLE in mind.

bill   October 14th, 2008 10:08 am ET

just get the hell out of the way bush HAVENT YOU DONE ENOUGH DAMAGE TO MY COUNTRY LET someone with some intelligence get YOUR MESS STRAIGHTENED OUT GO HOME GOOD BY GOOD RIDDENCE

Bulldog   October 14th, 2008 10:06 am ET

Check out this link. It is very interesting insight into the anger and hatred inside the McCain campaign.

youtube.com/?v=itEucdhf4Us

Bulldog   October 14th, 2008 10:06 am ET

McCain's new economic plan only takes Bush's economic plan one step further to help the rich. The richer someone is the more they gain money from captial gains, stocks, bonds, savings and so one.

Once again McCain's philosophy is help the rich and eventually some of that money will trickle down. So under McCain the rich get richer while the poor and middle income get screwed.

Hedge fund managers who make $100 million dollars or more a year will pay less taxes from their income than their maids, chauffers, and any other person trying to just get by. Wow, thank you John. What a way to look out for those who need it the most.

Jeff M   October 14th, 2008 10:06 am ET

Mary,

I believe that Clinton's congress was fiscally responsible enough to curtail spending enough to cut into the deficit. Don't kid yourself though, if there was a real surplus, that cool little debt clock would've read zero during Clinton's term; it never did.

That congress that did such a good job of not spending money was Republican.

White Christian Mother for Obama   October 14th, 2008 10:05 am ET

You have GOT to be Kidding me!!! McCain now wants to give a economic plan after his advisor says he wont til after the election?? Just because Obama already did yesterday?

Can he not do anything on his own or is he always a FOLLOWER and a SHADOW??

Vote for the REAL LEADER… the First MAN with a PLAN!!

And for the GOP to reject the recent STimulus plan and wants to have a tax break for OVER SEAs Companies… FORGET THAT!!! That is why we are in trouble in the first place!!!

Wake Up AMERICA!! GOP is making it WORSE!!!

Randall in LA   October 14th, 2008 10:03 am ET

Come on and get real. How can anyone with any intelligence believe "W" has the answers TO ANYTHING! He's the one who led the U.S. down the toilet over the last eight years. He even cameon TV and said "I do not believe that the government should intervene in the market or people's' lives," or words to that effect. Yet he expects us to believe he NOW has it figured out? He is an uneducated mouth piece for the politically retarded. I'll bet he's never read one political science peer reviewed book or article or economic book in his his entire life.

Go Obama - Go Biden in 2008!!!!

YAM   October 14th, 2008 10:03 am ET

Sorry 'Sweetie',

I'd rather risk starvation with an Obama Administration than risk DEATH with a McShame Administration, which of course would be bought to you courtesy of McBush!

VOTE THE BUMBS OUT!

Bill, N.M.   October 14th, 2008 10:02 am ET

BTW Bush/Cheney accomplished everything they intended: WAR and giving our nations Treasury to their outsourced friends, De-regulation that gave billions more to their friends, and now the collapse, but you know what the 5% of the very wealthy got out before it crashed in time to buy everything back up a rock bottom prices.

Thomas   October 14th, 2008 10:02 am ET

So when our schools need money there is no money sorry
When our health care facilities need money there is no money sorry
When veterans affairs facilities need money there is no money sorry

But when big businesses and banks need money all of a sudden there is $700,000,000. Here you go!

With Republicans it is not "country first" but "Corporations first"

cw   October 14th, 2008 10:01 am ET

If McCain wins I am getting all my savings out of the bank and cash in my retirement. The Republicans got us into this mess and they will not be the ones to get us out of this mess.

Sad   October 14th, 2008 9:59 am ET

didn't Paulson say before that this would not work and how the japanese do it?

Mickie in PA   October 14th, 2008 9:59 am ET

Some people posting on this site need to read up on the "FACTS" instead of listening to the propaganda of platitudes (like "socialist", "liberal", "radical", etc.) It was the republicans who got us into this mess. The "NO CHECKS AND BALANCES" that Sweetie is referring to is the exact policy that McCain and Bush embrace. Of course, they don't want to remember Keating 5 or the balanced budget before the republicans took over (oh right, it's because of the war - the one that is illegal).

KenB, MI   October 14th, 2008 9:58 am ET

what does 700 billion buy you…about 25 years of ideology

That one is Karl Marxs friend too   October 14th, 2008 9:58 am ET

Scott- If you are getting your political information from Rolling Stone Magazine, it makes sense why you sheep are following a leftist Socialist.

Uncle Sam   October 14th, 2008 9:57 am ET

Just research the facts! Democrats had alot more to do with this financial meltdown than the Republicans. Barney Frank was too busy chasing after gay lovers to worry about his responsibilities of waving a cautionary red flag. Chris 'Stoneman' Dodd was too worried his sweetheart mortgage deal would be found out that he kept his mouth shut. Democrats in 2005 let a bill die that would have regulated Fannie/Freddie. And you uneducated American Idol voters want more of this with Obama and What's Joe Smokin Biden? Vote McCain/Palin for your childrens future! Don't vote for Barak/Bidens future!

jeremy - tx   October 14th, 2008 9:56 am ET

Dear McCain / Bush supporters:
Don't go away mad… just go away.

Doug R.   October 14th, 2008 9:55 am ET

The Bush presidency will go down as one of the very worst in United States history. In his entire life, Bush has not been successful at anything.

WAKE UP! NO MORE TRICKS!   October 14th, 2008 9:54 am ET

Instead of putting the money into corporate hands, why don't you put it into the taxpayer's hands? We are the ones that are truly suffering, and you are wasting our hard-earned money on corporations that could care less about us. TRICKLE- DOWN DOES NOT WORK!!

mary, colorado springs   October 14th, 2008 9:54 am ET

Sweetie: I believe the REPUBLICANS, led by Bush, are the ones who went through the Clinton surplus, spent money on whatever pork they wanted, started an unnecessary war, antagonized mideast Muslim countries, and interfered in other countries' way of life that made the US even more hated. It is the REPUBLICANS who have let Wall Street play fast and loose with selling/buying stocks, with the CEOs, and other high ranking officers take huge bonuses that have brought Wall Street to its knees, and has left investors with empty savings accounts.

I don't know where you have been, but it wasn't the same planet as I'm on. Read and listen more and talk less, and you'll be able to understand who did what to whom.

OBAMA/BIDEN 2008/2012

Jon   October 14th, 2008 9:53 am ET

I just know that Obama would've seen all this coming from a mile away. He would have smelled ecomonic crisis years before even the most gifted economists.

I for one cannot wait until he gets into office and raises our effective corporate tax rate to the highest in the world and gives labor unions unlimited power to demand that even the most inefficient workers are paid handsomely for their so-called services. All the jobs that have been lost overseas will start pouring in once his $3,000 tax credit for creating a job in the U.S. comes into play!

Jim   October 14th, 2008 9:51 am ET

How fitting that virtual bankruptcy of the financial system is the end result of bankrupt Republican economic policy.

Now is the time to boot these feckless misanthropes from the halls of power for good. Let's break the back of the conservative movement now and forever. Crush their spirits and toss them into history's dustbin once and for all, along with all the other bankrupt political philosophies like Marxism and Nazism.

Pat, Pa.   October 14th, 2008 9:51 am ET

Hey Sweetie, get in the real world and learn the facts of which you speak.

RJ   October 14th, 2008 9:50 am ET

sweetie,
u sound like Palin. All those things u wrote should be attributed to Bush/McCain, not democrats. U r the one spinning this whole thing right infront of our eyes.

Shari, NY   October 14th, 2008 9:50 am ET

What financial crisis? Just wait until Halloween when Palin, McCain, et al costumes and masks start flying off the shelves. Some might even come with push buttons bellowing recorded gaffes and idiotic statements. Retailers will be smacking their lips.

JohnGalt   October 14th, 2008 9:49 am ET

I'm not sure anyone in the White House, or Treasury Dept. actually know what they're doing. Putting McCain in the White House will place an academic failure in charge of a multi-trillion dollar economy. Talk about a disaster in the making.

Tom, Golden   October 14th, 2008 9:49 am ET

Uncle Sam and Sweetie: Do you not realize that Bush has essentially nationalized the banking system? Can you say Socialists? Can you think outside of any box-full of taling points?

Scott in Atlanta   October 14th, 2008 9:48 am ET

Read the article "The Make-Believe Maverick" in the October 16th edition of the Rolling Stones magazine. Then you decide.

Terry, Dallas Texas   October 14th, 2008 9:48 am ET

So when the Republicans controlled The White House and the Congress for 6 years that was a good thing but now hen it looks the reverse may happen everyone is concerned with having "checks and balances". Remember Karl Rove predicting in 2006 that not only would the Republicans keep control of Washington but that they would add more seats because "America knows that we look out for them" ? How's that working for you Karl?

Craig in Washington   October 14th, 2008 9:48 am ET

Uncle Sam,

Wake up. Your people got their butts whipped in WWII. It's now 2008. Also, in case you were deep in your coma, we had 6 years with the Repubs running the White House, the Senate, the House of Representatives, AND the Supreme Court. That's why everything is so screwed up. And if you want to see something really scary (to you neo-fascist types) maybe you should read the Declaration of Independence sometime. It makes most neo-fascists cringe.

Obama/Biden '08

Baze   October 14th, 2008 9:47 am ET

Poor Bush. He just can't get out of that office fast enough.

Jim   October 14th, 2008 9:47 am ET

@ sweetie. Where were you complaining about checks and balances in the Republican's had congress for most of Bush's terms? And if McCain get's in he's likely to be putting in up to 3 supreme court justices. And they will be replacing the most liberal of the bunch. Do you think McCain will be worring about checks and balances then? Nope. He's already said he'd put in die hard conservatives.

So what was that you said about thinking adults?

TJ   October 14th, 2008 9:47 am ET

It is the pathetic, greedy right that got us into this mess. This ridiculous finger pointing by the right is typical of Republicans. They can't accept responsibility for their own actions, and can't accept the fact that their leader, W, screwed things up. Like Obama said, the right needs to "own up to what they did".
If you want money put back in the hands of the people, vote for Obama. If you want the rich to keep getting richer, vote for McBush.

Billiam   October 14th, 2008 9:46 am ET

ENRON II: the setup
George Bush never asked, what happened; George Bush never asked where did the money go; George Bush never asked who is to blame.
The first thing George Bush said is: We need $700 million to fix it.
Did George know this was coming?
George gives Wall Street our tax break and our money.

Abe   October 14th, 2008 9:46 am ET

FYI Sweetie. People are already starving. I don't know what world you and McBush are living in. Fear tactics won't work this time.

The worse thing to fear is fear itself. McBush/Palin = fear

Greg M.   October 14th, 2008 9:45 am ET

No more republican leadership ever, THE END !!!

President Obama and V.P. Biden, we (family and supports) are eagerly awaiting the victory of positive change. we are taking this time to invite/ welcome you and your family to Baton Rouge, La. My family and I are working hard to get the best person in the white house. President Obama You have the support of the citizen of Baton Rouge La. and around the world. Don't worry about the lies, we've got your back. Citizens in Baton Rouge La. supporting President Obama.

KenB, MI   October 14th, 2008 9:44 am ET

We're struggling.

Amy For America   October 14th, 2008 9:43 am ET

….and will hopefully EJECT me from the WHite House. God willing, my fellow Americans, Obama shall take over for he is certainly more … clever!

Vigla   October 14th, 2008 9:42 am ET

Sweetie,

There you go again, blaming liberals who ave been out of power since 1980. We've lived under conservative rule since Reagan and you blame liberals. Clinton was no liberal and he had an arch conservative congress. You make no sense and I'm calling you out.

Tom   October 14th, 2008 9:41 am ET

Clearly Uncle Sam has forgotten who it was that got us into this mess. Time and again the Republicans have put in place failed economic policies which led to the current situation. Notice how McCain didn't release his economic plan until after Obama released his…he obviously has no idea what to do. Maverick? Not so much.

Tom   October 14th, 2008 9:40 am ET

Clearly Uncle Sam has forgotten who is was that got us into this mess. Time and again the Republicans have put in place failed economic policies which led to the current situation. Notice how McCain didn't release his economic plan until after Obama released his…he obviously has no idea what to do. Maverick? Not so much.

Ralph   October 14th, 2008 9:40 am ET

George W. Bush cannot leave soon enough for most Americans. The only ones with a worst rating is our current Congress. We, Americans, have a propensity to balance the power in Washington. We don't want only one party in power. If a lot of democrats are winning their congressional seats, we will most likely have a Republican President and vice-versa. I cannot see either party having a majority in the Congress and a the Presidency at the same time, it is very rare.

Bill, N.M.   October 14th, 2008 9:40 am ET

SOCIALISM?
Hahahaha were are the republicans on this one?
The Brits did it over the weekend and it worked, so now out fearless follower is doing the same.
Wow I wonder if Socialized medicine might work? YES!
These republicans scare you with buzz words….socialized medicine, liberal, terrorist. You republicans are weak-minded followers, WAKE-UP Bush/ Cheney have F**KED this country, and it wil take a decade of smart leadership to fix it.

Jen in PA   October 14th, 2008 9:39 am ET

Q: Who's the Socialist now?

A: The Bush Republicans.

Can't tie socialism to Obama, when your party pushed it through. And McCain voted for it.

Kim, Charlotte, NC   October 14th, 2008 9:39 am ET

Sweetie,,,,,,,,,,,,,,,,,,,"If you like your Life vote for McCain, if you want to die of starvation vote for Obama!"

I beg to differ…..If McCain had put this "country first" he would have never picked Sarah Palin". Tha was soo dumb and stupid!

Obama/Biden 08

Piper   October 14th, 2008 9:39 am ET

Worst President EVER.

Barbara - 65 yr old white female in NC   October 14th, 2008 9:38 am ET

I think this mess started a long time ago and just grew and grew.

The Savings and Loan debacle was the very beginning - Keating 5 was just a start.

Abe   October 14th, 2008 9:37 am ET

McBush took credit for the Bailout plan before his Republican pals voted against it. Now that is Country First.

mary, colorado springs   October 14th, 2008 9:37 am ET

Bush is now trying to clean up the mess his 8 years in office has produced. He and his crew should have been keeping an eye on the
Wall Street gang who created this unfortunate situation. It's like trying to put toothpaste back in the tube. Bush will leave this bucket of worms to the next President and go home to Crawford where he can sit back and watch. What a legacy he will leave for the history books!

OBAMA/BIDEN 2008/2012

Barbara - 65 yr old white female in NC   October 14th, 2008 9:36 am ET

Imagine Sarah Palin's abuse of power behind the scenes on the national level.

THAT is scarey.

Iowa Obama   October 14th, 2008 9:35 am ET

Okay, if the Federal government can spend $700 Billion to bail out Banks, why can't this same government bail out individuals facing mortgage crisis? Honestly, how much will the $700 Billion help the American homeowner hit by adjustable rate mortgage?

Randy, San Francisco   October 14th, 2008 9:35 am ET

Nationalization of banks is the outcome of 8 years of greed and failed economic laissez faire policies. Hopefully this will be the final insult that the American people will have to suffer from the failed presidency of Mr. George Bush.

Annie, Atlanta   October 14th, 2008 9:34 am ET

@Uncle Sam. Our President just signed into law a bill that proposes to be the biggest Welfare for the Rich bailout in our history; McCain proposed a $300 Billion bailout of mortagees, and you're still accusing liberals of socialism? Please. And I have yet to hear a Biden or Obama rally crowd member yelling "kill him," relating to McCain, though I'll give you radicals, but at each end of the spectrum.

President Barack Obama   October 14th, 2008 9:33 am ET

Country First
Vote Obama/Biden 08

carol   October 14th, 2008 9:32 am ET

Eveytime Bush comes out to speak the markets seems to fall…..and I doubt anybody is even listening to him anymore anyway!!!
Yes, this awful administration have left one hell of a mess for next President (Sen Obama) to clean up…..it will take a long long time and it will not be easy.
Nov 4th can't come quick enough for me to get rid of these useless Republicans and that means you as well John McCain….because try as you might to steer clear from Bush you just cannot….no way!!!!

Andy   October 14th, 2008 9:31 am ET

Somehow socialism has become a horrible thing… apparently like being an Arab or a Muslim. Does anybody realize that socialism just makes the capitalist system more equitable? Free market capitalism had its chance the last eight years. It's time for a change.

Obama/Biden 08 12

Bruce   October 14th, 2008 9:31 am ET

Better LATE than NEVER. Too many years of sleeping at the switch. McCain has supported Bush over 90% of the time. We can't afford 4 more years of the same failed policies.

Jason   October 14th, 2008 9:30 am ET

Great to see you're caring about something other than needless wars, George, but I still wish you'd shown this level of economic concern a few years ago.

Saad from NJ   October 14th, 2008 9:28 am ET

Come on guys, Bush is not a bad man. He was just not qualified to be the President…. and that too is NOT his fault. It's the people, my fellow Americans who put him in the White House. I believe the guy is sincere. He just does not know enough.

He is making a sincere effort. Whether right or wrong, no one knows and only time will tell.

mitch   October 14th, 2008 9:28 am ET

whatever gets us by, until you are gone.

Remy   October 14th, 2008 9:27 am ET

I think DEMOCRATS have bailed out America economy now. Majority of the Republicans voted against the Bush plan. How can these Republicans and McCain cry "COUNTRY FIRST"?

jayeandvic   October 14th, 2008 9:26 am ET

Our country is crumbling down around our ears, and I fully fault the republican party and George Bush.

Seattle Sue   October 14th, 2008 9:26 am ET

I was posting on First Read (MSNBC) four years ago, I wrote then that I didn't think our country could survive four more years of Bush. It looks like I might be right. This man has did more to destroy us than most of our enemies. I am so thankful that Bush has only three months to be in office, but it really gripes me that he will be getting a retirement for life from us, He is just like some CEOs that have run their company into the ground and then get a big bonus for leaving.

carmen collins-foran   October 14th, 2008 9:26 am ET

Giving our money to your friends as usual.

Will-South Dakota   October 14th, 2008 9:25 am ET

Can he even be believed…..

Greg M.   October 14th, 2008 9:24 am ET

No more republican leadership ever. THE END !!!!

Obama 08′………………………………….

Republican Voting OBAMA   October 14th, 2008 9:22 am ET

Go and Go Quickly, we need to see the door hit your backside.

Obama/Biden 08/12

EX- PAW PAW SUPPORTER   October 14th, 2008 9:22 am ET

GO BACK IN YOUR HELL HOLE BOOGIE-MAN

Thomas   October 14th, 2008 9:22 am ET

Sounds good in theory… not so sure that will cure banking ills though. I feel bad for whoever wins the presidency, look at the mess they will inherit. I don't envy either man.

Uncle Sam   October 14th, 2008 9:20 am ET

Joe Biden's forehead is scary! The Left Wing Democrats are the radical fringe group Joe Biden should be concerned with! We cannot have a Democrat President and a Democrat congress or else they will put some Liberal laws into place that we will be stuck with! Just say NO to Socialism in the USA! Vote McCain/Palin!

NEWLIFE   October 14th, 2008 9:19 am ET

It is such a shame that Bush/Mccain-McNasty has gotten America into this mess along with Chaney/Palin the failin, Cindy and Rice and the others.
Republicans cannot be trusted with anything! Especially not life. they've taken too many as it is

A Patel   October 14th, 2008 9:17 am ET

Bush New Plan not work, Need : Trust, Faith, Hope,Confident,,
Unlucky Person can do anything allawys fail, May be NEXT Person
can do some thing for country.

Sweetie   October 14th, 2008 9:15 am ET

I don't understand why folks think Obama would do better with the economy when it is the Liberal Left that got us into this complete Meltdown!

The Liberal Press is VERY good at pure Spin!

That is why any thinking adult should vote for McCain!

With no CHECKS and BALANCES in place and Favorable Press,

We the people will never know what is going on and they will be Free to take us all the way down, not just to our knees!

If you like your Life vote for McCain, if you want to die of starvation vote for Obama!

CR in WI   October 14th, 2008 9:15 am ET

What Republicans want you to believe:
Smaller Government, Fiscal restraint

The Truth
Socilization of financial institutions, erosion of personal freedoms, leaders in creating the largest national debt in our history.

Time to change it up, intelligence in the white house
BO08

Anne   October 14th, 2008 9:14 am ET

God help us all! Anytime Bush opens his mouth the opposite happens.

joyce   October 14th, 2008 9:14 am ET

MR PRESIDENT
i am A 65 YEAR OLD WOMAN VOTING FOR THE FIRST TIME IN MY LIFE (FOR OBAMA) but I STILL FEEL YOU HAVE DONE YOUR BEST WITH WHAT YOU HAD TO WORK WITH AND I RESPECT YOU FOR THAT. GOOD LUCK IN YOUR RETIREMENT AND GOD BLESS

Jack Jodell, Minneapolis, MN   October 14th, 2008 9:13 am ET

It never ceases to amaze me how guys like Bush and McCain can care so deeply about businesses and institutions when there are millions of INDIVIDUAL PEOPLE struggling right there in Washington and all across the country too, but they completely ignore those.

Purple Nurple   October 14th, 2008 9:12 am ET

Wow, who knew the rethugs would be responsiable for nationaltizing our banking systems, and they call me a leftist, or no, is it a soclolists(SP) or evil liberials…….

Oh, and sarah is guilty….where is that story CNN. I know, got to protect your loved ones right??

Tim in VA   October 14th, 2008 9:09 am ET

Welcome to the United Socialist States of America everybody!!

McWho??   October 14th, 2008 9:09 am ET

Before you know it that money is going to be finished and we are still going to be in a slump. President Bush doesn't seem to realize that jobs are as important as rescuing banks. Who's going to get credit if they are unemployed?
This is the same trickle down garbage that Republicans believe in that has wrecked this economy. Why are banks receiving money before an audit. Who knows if we are whipping a dead horse???

Sharon from Dumfries Virginia   October 14th, 2008 9:09 am ET

Hey John, did you get George W Bush to help you with your economic plan? I'm pretty sure you both will agree on his plan.

McShame, please don't take any of Barack Obama's economic plan and try presenting it to your Repugs as your own ideas because CNN is waiting to report that you have stolen Barack's plan. That is why you waited until Barack announced his play to the public so you can piggy back off his plan. What a joke you are McShame

Bulldog   October 14th, 2008 9:09 am ET

McCain's new economic plan only takes Bush's economic plan one step further to help the rich. The richer someone is the more they gain money from captial gains, stocks, bonds, savings and so one.

Once again McCain's philosophy is help the rich and eventually some of that money will trickle down. So under McCain the rich get richer while the poor and middle income get screwed.

Hedge fund managers who make $100 million dollars or more a year will pay less taxes from their income than their maids, chauffers, and any other person trying to just get by. Wow, thank you John. What a way to look out for those who need it the most.

Danielle, TX   October 14th, 2008 9:08 am ET

Why can't this man go on vacation until January 19th?

Ray Fisher   October 14th, 2008 9:08 am ET

I have yet to hear anyone mention increaing personal savings to obtain capital since it will rebuild our economy without borrowing. We need not spend ourselves back into debt but save ourselves out of debt!!!

proud army and navy mom   October 14th, 2008 9:08 am ET

war criminal! why is he still free. Bush is a spoonfed idiot.

Tim   October 14th, 2008 9:07 am ET

I think we should all receive an ownership certificate in each bank that receives our tax money. Why shouldn't we get some kind of dividend for our investment????

Mike   October 14th, 2008 9:05 am ET

Bush is going to Buy the Banks for the Government. Then McBush want to Buy the Mortgages and the Government will own our homes.
This folks is more Communist than China is. Under the Republicans America has become a Socialist State headed towards Communism so please do not insult our intelligence by calling the Democrats "Leftists" like the clueless Palin did yesterday.

GA Independent   October 14th, 2008 9:04 am ET

Bush has entered the hall of shame for this financial mess along with his war crimes.

Yay.

TAINOPOWER   October 14th, 2008 9:04 am ET

Proposing a plan every day is the same has having no plan .Hilary Clinton propose the same plan In February, after Hillary Clinton proposed a similar foreclosure moratorium obama called it disastrous. and now this plan is going to work. Obama have no ideas only stolen ideas he complains about is opponents ideas then he goes and steals them.. obama’s Chicago stile machine. No experience no idea no plan McCain/Palin 08

Stephany   October 14th, 2008 9:01 am ET

If you think about it, Isn't McCain speaking today as well bringing up his plan for the economy. It seems as though he may have been waiting for Bush to come forward with his new plan then he would follow to add on to it. McCain has not separated himself from Bush nor can he.

TJ   October 14th, 2008 9:00 am ET

The other problem with this bailout is it gives Paulson too much power. We have seen under this administration the stripping away of the checks and balances that have protected the people from the government. Now, we see government running rampant. Bush is the anti-Midas man; everything he touches turns to lead.

Brendan H., San Antonio, TX   October 14th, 2008 9:00 am ET

Getting financial advise from Bush is like getting a facial from a leper!

alvino   October 14th, 2008 8:59 am ET

Isn't there one more mess you could get us into before you leave office?

Spencer/Commonwealth of Virginia   October 14th, 2008 8:56 am ET

Let's see if old Dub-ya can clean up some of his mess before we kick him out of public housing.

Chris   October 14th, 2008 8:55 am ET

Yea … Poor struggling banks … Im looking forward to adopt a poor bank myself, exchange letters and pictures together and make it a familly positive project …

lovable liberal   October 14th, 2008 8:55 am ET

Socialism! We the people need to make a little money on these stabilizing deals before we unwind them back to capitalism. That will confuse the wingnuts - taking a socialist step, acting capitalistic in order to profit from it for social benefit, then selling back to capitalists to restore a mixed economy. Their heads will explode.

Republican for Obama   October 14th, 2008 8:54 am ET

I think George Orwell's description is look into the McCain Campaign's entire strategy and one Sarah Palin (aka Troopergate) clearly embraces.

The adjective Orwellian describes the situation, idea, or societal condition that George Orwell identified as being destructive to the welfare of a free-society. It connotes an attitude and a policy of control by propaganda, misinformation, denial of truth, and manipulation of the past, including the "unperson" — a person whose past existence is expunged from the public record and memory, practiced by modern repressive governments.

Obama not ready to lead   October 14th, 2008 8:54 am ET

The housing market is where it is at for American's growth. That is why Obama doesn't get it. He thinks that taking my retirement money early is the answer. That cannot spur growth. Housing market and Jobs.. Not taxing the people and bigger government. CEO magazine says that 4-1 CEO's polled think Obama's plan will bankrupt the country in 3 years.. How come regular people just don't get it?????

Joe Regis   October 14th, 2008 8:54 am ET

The economy will be fixed again for good when Obama/Biden take office. Jobs will be plentiful just like the 90's under the Clinton administration.

By the way, I think the closer we get to Nov. 4th, the more we need to put the Clintons on the speed dial.

Landslide Obama/Biden 08/12.

TJ   October 14th, 2008 8:54 am ET

There is only one good thing about this entire ordeal, and that is that Bush's time in office is coming to a sweet end. This plan basically gave greedy businessmen almost unfettered access to public coffers. That does not help the American people, and rewards inept companies for their incompetence…kinda like Republican voters did when they "elected" Bush to a second term in office (we all know he really didn't win it. This is the first time in American history that a man has two presidential elections but still got into the White House).

Ann, MI   October 14th, 2008 8:53 am ET

Well, as long as the banks are okay, the rest of us can go hang. I see today that Rep. John Boehner is calling the Democratic leadership's idea of a second stimulus package to help state and local governments a horrible idea.

But apparently its okay is that Bush is nationalizing the banks and guaranteeing these loans, but not a word about oversight. What if these banks blow the loans on bad deals AGAIN. Are we supposed to bail them out AGAIN? The Republicans only care their big donors.

Paul Thompson   October 14th, 2008 8:53 am ET

I'd like to see a story about the violence and civil war that has been said many times, even by Carville, that will supposedly occur because 'only racism' will prevent Obama from winning.

Why even run a story about Bush? Let's "Get in their Face"! Let's just bully and intimidate these losers. We're the only ones that are right….and let's get out there and push them around some more…this is fun…being right all the time!!!! hee hee

scoot   October 14th, 2008 8:52 am ET

another bad plan from the W. also I would like to say those talking Voter Fraud. thaty is BOs main game how do you thinkn he was elected in the first place.

Frank Lee   October 14th, 2008 8:50 am ET

Translation: "I have no idea what I just said, but someone was nice enough to write this little speech for me so I read it to you. Heh, heh".

Scott L   October 14th, 2008 8:50 am ET

"spread the wealth around…"

Man I cannot believe Obama said that to a Plumber who has worked 15 years to build his business and he wants to spread this guy's wealth around to other people.

Guaranteed that Plumber won't be voting Obama.

Someone else famous said to take from those that have and give to those that need - Karl Marx…oh, a socialist!

Go ahead liberals, vote for a socialist and when 250k doesn't cut it, just remember with stimulus checks DEMOCRATS thought you were rich if you made $150k (combined).

So long suckers! No way no how NOOOOOOBAMA!!!!

James From Chicago   October 14th, 2008 8:50 am ET

Who would have thought any one man could have ruined this country,
whowould have thought one man could make us the laughing stock of every nation. That man is BUSH. He took us into a war with lies and deceit and now he wants the American people to believe and trust him. He must think we just fell out of a banna tree. He will go down
in history as the worst preident the united states has ever had, and McCain will be the same.

Dallas, TX   October 14th, 2008 8:48 am ET

Obama will raise your taxes folks, do your homework, read the fine print!

Obama/Biden especially are part of the old Washington elite, heck Biden didn't even support or agree with Obama on many issues.

Inform yourself and then make an informed decision.

I support McCain/Palin, I can't see myself voting for one of the most liberal senators in government!

McCain/Palin '08!!!

Ryan   October 14th, 2008 8:45 am ET

Great. So now an appointed, non-elected official will run the partially government owned banks. Welcome to the Soviet States of America.

Dave   October 14th, 2008 8:44 am ET

All I'm saying is the taxpayers better see some of that money back when these banks start making billions again!

Buckeye   October 14th, 2008 8:38 am ET

Nationalize the banks.

Tony   October 14th, 2008 8:38 am ET

GO AWAY G.W.

YOUR TIME IS UP. NO ONE CARES WHAT YOU THINK OR SAY.

YAWN!

Barbara - 65 yr old white female in NC   October 14th, 2008 8:36 am ET

Is he still here?

Comments have been closed for this article

subscribe RSS Icon
About The Ticker

The latest political news from CNN's Best Political Team, with campaign coverage, 24-7. Sign up for our twice daily Ticker emails. Got a news tip or feedback? For complete political coverage, bookmark CNNPolitics.com.

CNN=Politics Screensaver

CNN=Politics ScreensaverTap into the power of The Situation Room. Download this powerful new tool that keeps you posted on the latest political news from the campaign trail.
Download (4.1 MB, PC only)

Follow us on Twitter

CNN on TwitterGet Ticker updates the moment they appear online via the Web, SMS, or instant messages.
Follow politicalticker

Categories
CNN Comment Policy: CNN encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNN makes reasonable efforts to review all comments prior to posting and CNN may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNN the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNN Privacy Statement.
Home  |  World  |  U.S.  |  Politics  |  Entertainment  |  Health  |  Tech  |  Travel  |  Living  |  Business  |  Sports  |  Time.com
Podcasts  |  Blogs  |  CNN Mobile  |  Preferences |  Email Alerts  |  CNN Radio  |  CNN Shop  |  Site Map
© 2008 Cable News Network LP, LLLP. A Time Warner Company. All Rights Reserved.
Powered by WordPress.com