September 24th, 2008
09:15 PM ET
15 years ago

CNN confirms: McCain, Obama to meet with Bush about bailout


[cnn-photo-caption image= caption="Pres. Bush has summoned Sens. McCain and Obama and congressional leadership to the White House to discuss his plan to bailout the nation's fianancial markets."]
WASHINGTON (CNN) - President Bush has asked both Sen. John McCain and Sen. Barack Obama to join him for a meeting at the White House Thursday afternoon to discuss the economic bailout plan, a White House officials said.

"The President called Sen. Obama tonight around 7:30 pm," said Dana Perino, White House press secretary. "The president has invited the bicameral and bipartisan leadership, and the two senators running for president, to the White House tomorrow to work on driving to a bipartisan and timely solution."

Obama's campaign said in a statement that he has accepted the invitation.

"A few moments ago, President Bush called Senator Obama and asked him to attend a meeting in Washington tomorrow, which he agreed to do," the statement said.

"He has said that he will continue to work in a bipartisan spirit and do whatever is necessary to come up with a final solution."

A McCain adviser said McCain also plans to attend.

- CNN's Elaine Quijano and Dana Bash contributed to this report.

Filed under: Candidate Barack Obama • Extra • John McCain • President Bush
soundoff (951 Responses)
  1. Wayne in CA

    seems like McSame just cut and ran from the debates...

    September 24, 2008 11:43 pm at 11:43 pm |
  2. Don

    In 2003, the Bush Administration recommended what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago." This change was to move governmental supervision of two of the primary agents guaranteeing subprime loans, Fannie Mae and Freddie Mac under a new agency created within the Department of the Treasury. However, it did not alter the implicit guarantee that Washington will bail the companies out if they run into financial difficulty; that perception enabled them to issue debt at significantly lower rates than their competitors. The changes were generally opposed along Party lines and eventually failed to happen.

    2003 Representative Barney Frank(D-MA) claimed of the thrifts "These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

    Of course this is Bush's fault.

    September 24, 2008 11:43 pm at 11:43 pm |
  3. changing times

    I smell a rat.
    The Prez and McCain working this thing together to slow down Obama's momentum. Watch out Barack.

    September 24, 2008 11:44 pm at 11:44 pm |
  4. Independent-Lee

    This is a tactic thought up by Karl Rove. Eat them alive BO. Sarah Palin needs to be there taking notes.

    September 24, 2008 11:44 pm at 11:44 pm |
  5. Zman.Indianapolis,IN

    Dude if you can not debate for an hour how are you going to lead for 4 years

    September 24, 2008 11:45 pm at 11:45 pm |
  6. Illinois Blue Dog

    Off-subject, but I know moose turds who could give a better interview than the one Sarah Palin gave to Katie Couric. You really want this woman one heartbeat away from the presidency??? Go back to shooting wolves from a plane. I want my president and vice president to be smarter than me...and they're not...Bush can't say nuclear and Cheney missed the turkey and hit his buddy in the face with shotgun pellets. We've had 8 years of a president you can have a beer with (even though Bush hasn't had a beer since his 40s), and look where that's gotten a hole the size Alaska (i.e. $700 Billion...not including that money pit in Iraq).

    September 24, 2008 11:46 pm at 11:46 pm |
  7. Mr. G

    Obama is once again showing calm, thoughtful, and stern leadership by sticking to a plan while being flexible. Thats what I want in a president, someone who can instill confidence by not abruptly ending an activity (DEBATE) that will shape perhaps the most important decision Americans will make. Shouldn't a president be able to deal with multiple important events simultaneously??

    September 24, 2008 11:47 pm at 11:47 pm |
  8. glenn

    Many of us tried to warn many of you four years ago about what would happen to this country if we re-elected this idiot but you would'nt listen, now look look where we are. Apparently many of you still don't understand since you are considering voting for McCain. fool me once...uh...uh..the point is don't get fooled again.

    September 24, 2008 11:47 pm at 11:47 pm |
  9. Neil

    This whole deregulation fiasco started when Clinton was president adn the congress was republican so what makes anyone think either one of these crooked parties can fix this, wake up America you have been ripped off

    September 24, 2008 11:48 pm at 11:48 pm |
  10. TexicoFrom Mexico

    hey I have a question, ummm did we postpone the 1932 debates beacause we were in a deep depression? Hmmmm me thinks not! You Republicans need to wake up! McCain is getting his tail kicked and has to run for cover. We have planes, cell phones and ummm blackberrys not to mention with those two in Washington it would just turn into a photo op and cause distractions! There is not reason to postpone anything and when McCain does not show up for a whole 2 hr debate then America will see the court jester at his finest!

    Veterans for Obama

    September 24, 2008 11:49 pm at 11:49 pm |
  11. GerryM

    Senator Obama needs to be very careful during this meeting. Bush and McCain are two old hands at the DC Two Step. Step One: the glad hand. Step Two: a push in front of the bus. These two are well known for dirty deeds done cheap and will not be stopped just because the next POTUS is in their presence. Both Bush and McCain will attempt to get Obama to take some of the heat of this giant debacle off of them and transfer it to himself or his presidential administration. I have every confidence that Obama have seen these two old hands coming from a mile away. He knows what they are up to and he should be prepared for just about anything. Good luck, Senator Obama. Look out not to get any of the GOP stuff on your suit.

    September 24, 2008 11:49 pm at 11:49 pm |
  12. Vic

    This is my second post, but feel compelled to set out more information on the financial crisis solution being hammered out in Washington right now. Bush and his cabinet cannot solve this. Bush can't solve this. To solve this great debate requires a bipartisan effort from the Congress as well. That's why both these candidates are needed to use their talent in "reaching accross the isle." McCain has already made his reputation for doing this. Now is the best chance ever for Obama to do what he promises, that being bringing both parties together. So both you guys need to go do your "thing," or else shut up about it. After all, what's so important about a debate. Obama has repeatedly turned down McCain's requests. What's happened to Obama in becoming so cranky about everything? That's not how he attracts all those Hillary voters. I know because I was one of them.

    September 24, 2008 11:49 pm at 11:49 pm |
  13. Shrimp Barnicles:Longlsland, NY

    What will Obama and McCain do at the White House that they haven't done already. Obama better carry his own bottled water over there and be careful not to drink Bush's cool aid.

    September 24, 2008 11:50 pm at 11:50 pm |
  14. slenon

    Now, more than ever, the debates need to proceed. Bush's speech tonight mirrored McCain's prophecy of doom this afternoon as he tried to postpone the debate. Same lies from both mouths, must be the same speechwriters
    By all means, let them answer W's imperial summons to the White House. But by all means broadcast the debate even if only Obama shows up.
    McCain must be coming down with Palin's disease, an inability to talk without pre-screened questions and a protective zone of theocons surrounding her.

    September 24, 2008 11:50 pm at 11:50 pm |
  15. Phillip

    Is it me or does Sen. McCain thinks americans are stupid. The reason he wants to push the debate back has nothing to do with the financial crisis but with Gov. Palin. If you take a look at the date in which he wants to have it on is the same date the VPs debate. He figures if the presidential candiates moves theres then the VPs will as well giving Gov. Palin more time to do photo ops with foreign dignitaries. Give it up McCain americans see right thru it.

    North Carolina

    September 24, 2008 11:51 pm at 11:51 pm |
  16. a woman well educated

    Sorry Gayle – Obama said a "President must be able to multitask" and what does McCain do? Turn tail, because he can't handle all of this bruhaha created by his own party. He can answer any questions from his campaigning trail, and both Obama and McCain are not on the commitees for these hearings anyway. McSame and the last 8 years are going down.

    September 24, 2008 11:51 pm at 11:51 pm |
  17. SoFlorida

    I am just a nobody in South Florida but I don't get the whole bail out thing. I like allot of Americans recently lost a good paying job and took another at half the salary. I now struggle to keep from drowning. I stopped the lunches, going out to dinner and all-any kind of entertainment. I just keep paying bills that keep going up, while I keep using less. When you don't have it you don't spend it..right: well that's what I was taught.
    Then how come when the government finds itself with money problems they don't have to do the same. Like saying to all the other countries, sorry I cant afford to give.. No more Foreign aid to anyone and all the countries that hate us and tell us to mind our own business, lets do it. Pull out.
    If America would bring ALL Americans home and kept all our money maybe we could all go back to work at good jobs and keeping are money at home, like building are own cars again, growing our own oranges and not having to fight with someone in India that cant speak English to buy a computer.
    Am I crazy or is there anyone else out there that feels the same.
    I really believe if we did this we could make this country so strong again, every bum wouldn't dare trying to blow us up. Maybe they would call us heartless but what good has it done us to be soft hearted.
    Depressed & Fed up in South Florida

    September 24, 2008 11:52 pm at 11:52 pm |
  18. Doug

    Does America really want another 4 years of the republicans? Look at the situation we are in now. Obama has my vote!!! Just a few months ago, Bush said we are no where near a recession, well, tonight he said we could be in for a long recessio. Way to go!!!!

    September 24, 2008 11:52 pm at 11:52 pm |
  19. Brian S.

    I don't like this.

    Maybe I'm just be suspicious (after the past 8 years, why wouldn't I be?) but I think George may be trying to postpone the election. I know that sounds paranoid, but after everything that's happened, is it really out of the realm of possibility? I can just see them in the White House, McCain and Bush trying to convince Obama that, for the good of the country, this election nonsense is not needed now. And if he caves... goodbye democracy. They will dig in and they will dig deep. Bush has nothing else to lose. McCain is on the verge of failure. They have shown a complete disregard for the basic concepts of liberty. Why not?

    Oh god, I hope I'm wrong.

    September 24, 2008 11:53 pm at 11:53 pm |
  20. Mr. X

    Hey, I didn't know we had 3 presidents...

    September 24, 2008 11:53 pm at 11:53 pm |
  21. Fraser

    Go forward with the debate, Barack. If McCain can't hold himself steady and multi-task in the midst of the economic crisis, then he is not fit to be president.

    September 24, 2008 11:54 pm at 11:54 pm |
  22. David Newport, OR

    Here is the reality folks...we are set for hard times ahead. Nothing can prevent this from happening. So during these times, when everything fails...and it will...who do you want as president? One who only wants to fight wars with his rhetoric or one who will fight for the people? McCain...just LAST WEEK said the "foundation of our country is sound". Today, it is falling apart. I ask you "friends", who do you want running the country? A man who last week thought we are doing OK...this is just a rough stretch? Or a real leader?

    September 24, 2008 11:54 pm at 11:54 pm |
  23. Phony Outrage

    I think this is one of George W. Bush's better ideas in awhile. This gives McCain a "free out" to get back to the debate after he discovered that this political stunt was smoked out and reported to the American people. It shows that he helped the process. Let the experts handle the crisis, and let the candidates handle the election process. I think that everyone has had enough of Republicans hiding from real questions and debates.

    September 24, 2008 11:55 pm at 11:55 pm |
  24. Lara

    Bush "summoned" them to the White House. For what? Is he really going to take their advice?

    We have a bi-partisan committee in both houses working 24/7 to iron out this latest bailout and Bush calls the two presidential candidates to the White House???

    I smell a rat.

    September 24, 2008 11:56 pm at 11:56 pm |
  25. chris lewis

    who is bailing out my company. we just lost our only project because of this fiasco. where is my handout? Being self-employed I don't get one. This whole bailout thing is a scam and these companies deserver to fail.

    September 24, 2008 11:56 pm at 11:56 pm |
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