September 25th, 2008
05:03 PM ET
13 years ago

Shelby: No agreement

[cnn-photo-caption image= caption="Shelby said no agreement has been reached."]WASHINGTON (CNN) - Republican Sen. Richard Shelby emerged from President Bush's economic bailout meeting Thursday afternoon saying, "We will not have a deal."

Shelby, a senator from Alabama, said he had a five-page paper from 44 leading economists that says "we are rushing to a deal."

One of Shelby's top aides told CNN earlier Thursday that the senator from Alabama had planned to make the statement. Shelby does not like the plan and wanted a public platform to voice his views, the aide said.

Filed under: Richard Shelby
soundoff (266 Responses)
  1. John Starnes Tampa Florida

    The Republicans stated in essence that "the people who sent us here aren't pleased " with this mean, like transparency and acountability and no more obscene salaries and golden parachutes at these firms rescued by TAXPAYER DOLLARS? Paulson (who once ran Goldman Sachs) not getting total SECRET control of that $700 BILLION dollars wrested from US citizens? Would those "people that sent us here" by any chance be CEOs of huge corporations that caused this debacle? If you and me fail to pay our bills, there are consequences...but if you head up crooked banks you get bailed out by the victims AND get a huge severence package to boot! Land of the free? Free ONLY for the mega-wealthy. Maybe 50 million taxpayers "forgetting" to file next April might get their attention?

    September 25, 2008 05:50 pm at 5:50 pm |
  2. California Gold

    I wonder if McCain will watch the Presidential debate from Washington DC? I mean it's going to occur in the late afternoon long after Congress has turned off the lights and locked up. In other words he isn't going to be arm wrestling a "deal" or doing anything else for the economy.

    September 25, 2008 05:50 pm at 5:50 pm |
  3. Stacy from Loudoun County, Virginia

    We are rushing to a deal on this. I agree with Senator Shelby. Are there other alternatives out there that don't stress tax payers wallets? Let's not rush into a disaster.

    September 25, 2008 05:51 pm at 5:51 pm |
  4. TexicoFrom Mexico

    So what are we going to do? Push the election day back too? Give me a break! It will take 2 hrs for this debate and then they can go back to Washington! I hope Obama goes regardless because he is right on this! You have to be able to multi task!

    September 25, 2008 05:52 pm at 5:52 pm |
  5. Ron L

    AMERICA we are witnessing a POLITICAL GRANDSTAND of BIBICAL proportions. Just hink about it..
    1) Early yesterday both the Republicans and the Democratics were saying they were making some progress on a compromise.
    2) At about this time Senator Obama calls Senator NcCain to work on a JOINT statment.
    3) Senator McCain waits about 7 hours after this call and decides to go BEFORE the cameras and announce that he is going to Washington and focus on this crisis. AND he is NOT going to the debate unless and agreement is made..
    4) President Bush calls Barack and invites him to the White House for a 4:00 meeting.
    5) This morning both sides are saying they are getting closer to an agreement.
    6) 4:00 pm comes, they have the meeting and the Republican Leadership basically says there is NO DEAL and they aren't that close!!
    7) Don't you find it rather ODD, things were better BEFORE Senator McCain arrived???
    Just watch....the Republicans are going to make it appear that John McCain is the GREATEST MEDIATOR in the history of Mankind....

    September 25, 2008 05:52 pm at 5:52 pm |
  6. Linda K.

    I'm a Democrat and I hope they don't rush into a deal. We're talking about a huge amount of money here and this will affect us for years to come.

    If McCain won't show up at the debate until a deal is reached, then that's his choice. I'm sure Barack will be there.

    September 25, 2008 05:52 pm at 5:52 pm |
  7. Ivie Walker

    Why should we bail out Wall Street Havard and Yale graduates that are evidently educated beyond their mental capacities? They thought they were so clever an could out smart and take advantage of the US citizens. They have been deceitful, greedy, and cared about no one but themselves. They had no regard for our Country or it's citizens well being and I think that charges should be sought and they should all serve prison terms over this outrage. This is a cancer in our society and the root cause is GREED on all levels from the citizens to private industry, primarily the Banking/Financial industry, and State and Federal Government. Our Country is very much like the Roman Empire when it fell.

    September 25, 2008 05:54 pm at 5:54 pm |
  8. Seen it all before

    For all you doubters who think you know everything – we'll see what you have got to say if the congress do not come up with a plan. Depression will likely happen at some point in the not too distant future but if wall street hears that the congress is not going to agree on some sort of plan now, the financial bloodletting starts next week. This has been coming for a long time due to malpractice by both political partiies. If you are not financially prepared now, you are already too late.

    September 25, 2008 05:54 pm at 5:54 pm |
  9. L Spurg

    McCain and Obama have given their guidance to this crisis. Now they need to continue on with the campaign. The election date is not going to be postponed. This is not fair to voters for McCain to blow off this debate plus trying to cancel the VP debate.

    September 25, 2008 05:54 pm at 5:54 pm |
  10. California Gold

    Jorge (post #12) you are right. I too have noticed a distinct swelling to the side of his face where he has had prior complications. He also looks more frail and his left eye is noticeably different (neurological impact). He has taken a beating in the polls and his rating is dropping like the Dow Jones. Palin has become America's newest joke. I'm sure he is thinking he's in over his head with this one.

    September 25, 2008 05:55 pm at 5:55 pm |
  11. Sin City Indy


    September 25, 2008 05:55 pm at 5:55 pm |
  12. Viv

    Those Wall Street CEO should be made to pay back the money and sent to jail for the fraud they committed on the American people. The money should be used to bail out the hard working home owners who were tricked into these unfair mortgages.

    September 25, 2008 05:55 pm at 5:55 pm |
  13. FreeNLovIt

    We have 435 House of Representatives and 100 Senators to handle the situation. With or without McCain and Obama, the SHOW MUST GO ON..

    If they were both kidnapped by space aliens, Hillary and Palin will have no problems PICKING UP thier work. There's stil 298 million Americans!

    September 25, 2008 05:55 pm at 5:55 pm |
  14. J.R.

    I BELIVE OBAMA IS RIGHT CUZ I SEEN JOHN McCain support bush of 90% times

    September 25, 2008 05:56 pm at 5:56 pm |
  15. Linda K.

    Oh, and no matter what they do or decide I think we're still heading for depression. Hold on tight. It's gonna be a wild ride.

    September 25, 2008 05:56 pm at 5:56 pm |
  16. Democrat Voting For McCain !!!

    No Bailout For Wall Street !!!!! , No! , These Corupt banks Deserve To Crash !!! , They Should be sent To Prison For Life !!!! .

    September 25, 2008 05:56 pm at 5:56 pm |
1 2 3 4 5 6 7 8 9 10 11