September 27th, 2008
12:00 PM ET
14 years ago

Senator in financial talks expects agreement by Sunday

[cnn-photo-caption image= caption="Sen. Judd Gregg said he expects an agreement by Sunday."]
WASHINGTON (CNN) - A New Hampshire senator who is helping negotiate a bailout agreement for the finance sector said Saturday he expects a single proposal to be hammered out by Sunday.

Judd Gregg of New Hampshire said the negotiating team planned to meet late Saturday afternoon.

"Senator (Chris) Dodd and I talked about this a lot and the basic understanding is that when we get in that room as principals we will stay there until we reach an agreement, or if we can't reach an agreement ... we'll stay until we've done something" to address the issue "in a comprehensive and
effective way, hopefully," he said.

"The progress we're making is good and I can say with some confidence that we've basically moved this thing down the road a long way toward reaching an agreement," Gregg added.

He and Senate Minority Leader Mitch McConnell of Kentucky appeared together at a news conference where McConnell added, "The goal would be to announce an agreement tomorrow and have the vote on Monday."

Filed under: Congress
soundoff (117 Responses)

    I do feel better knowing Mr. MaGoo will be on the phone bank providing his economic expertise, during this time.

    Why, was he faux debating Thursday night, when he said he would not leave until the bailout bill was done??

    Answer: Policitcal posturing when you have no other ideas!

    September 27, 2008 03:06 pm at 3:06 pm |

    Phil Gramm. Eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multibillion-dollar subprime meltdown. [Anyone remember ENRON] Yet has THIS A OLE Gramm been banished from the corridors of power? Reviled as the villain who bankrupted Middle America? Hardly. Now a well-paid executive at a Swiss bank, Gramm cochairs Sen. John McCain's presidential campaign and advises the Republican candidate on economic matters. He's been mentioned as a possible Treasury secretary should McCain win. That's right: A guy who helped screw up the global financial system could end up in charge of US economic policy. Talk about a market failure. McCain is a walking disaster for this country.

    September 27, 2008 03:12 pm at 3:12 pm |

    "The campaign says that Senator McCain will head to Capitol Hill later this afternoon. They weren't clear exactly what he's going to actually do when he gets there."

    Neither does Geezer!.

    September 27, 2008 03:15 pm at 3:15 pm |
  4. FranJ

    This co-called bail out is a trap by the Gop to stop Obama's success to the White House. We as voters have got to get the message. I believe wall street should bail itself out. Why, all of a sudden does Bush want to sit down with mccain and Obama so that this mess can get corrected. It can only be done so by those that made it. Bush and mccain are its leaders, and now they want the congress and the taxpayers to stand up and pay for it. I don't want to. I didn't get any of that money and am disabled and can't get social security. So no we shouldn't bail them out and I don't care how hard it will be for the rich according to Bush. My family came from the cotton fields of the south and if we made it there we can make it anywhere.

    September 27, 2008 03:16 pm at 3:16 pm |
  5. carol

    John McCains big rush to go to Washington and save the day was just a ploy as we all know.......the man has no scruples let alone manners.
    He wanted us all to think, there's a leader who really cares for his MR COUNTRY FIRST we know you are full of it and the only person you care about is you!!!!!
    After watching him last night the American people need to wake up and see what a BIG MISTAKE it would be with him in charge.....he is arrogant, condescending and ignorant.
    We can do better than this and when you watch Senator Obama there is absolutely no comparison with his intelligence, poise, grace and respect.....that what I want to see in my President.

    September 27, 2008 03:19 pm at 3:19 pm |
  6. bk

    Harry Reid said the dems won't vote on the bail out unless McCain comes back and votes for it. Then McCain suspends his campaign comes back and Harry Reid says we don't need you. Something tells me dems think McCain has more pull than people think. Its McCain and Obama's job to vote on these issues we are paying both of them. So Obama is a senator and thinks he has no input on this and keeps on campaigning. I don't think we want an arrogant president that only thinks of himself. Oh wait! we already have one. Bush and we don't need another one.

    September 27, 2008 03:19 pm at 3:19 pm |
  7. Bored

    The partisanship and lack of thinking here is getting soooo boring. . . .

    September 27, 2008 03:25 pm at 3:25 pm |
  8. bk

    Dodd should have nothing to do with this he is the number 1 taker of Fannie and Freddie, and Obama is number 2. They both should be thrown out of the senate, and Obama should not even be allowed to run for president. They are both crooks.

    September 27, 2008 03:31 pm at 3:31 pm |
  9. PDXChick

    Another story stated that McCain was planning on returning to DC for the crisis talks today, but when pushed as to why and what he would do, his campaign wouldn't respond. Later in the article McCain decided not to go after all.

    What a joke. Like he'd be of any use to anyone there, given his zero understanding of economics.

    Did it tick anyone else off last night when McCain kept talking about earmarks? What a hypocrit, when his own VP choice has one of the highest earmarks per capita for AK.

    His bedtime stories about his travels and name dropping didn't impress me, it was laborious. Jim Lehrer (who Obama was referring to, poster who thought Obama was calling McCain 'Jim') was even trying to shut him up and he rudely kept talking. UGH! I wouldn't be able to stand listening to his hushed boy dreams, nor Palin's fish-wife screeching.

    September 27, 2008 03:32 pm at 3:32 pm |
  10. J.C.

    Wall Street is already plotting on profiting from the bailout plan. Even foreign corporations with US subsidiaries will get covered. If you think 700 billions will be enough, you will be in for a big surprise. Read New York Times for these reports.

    September 27, 2008 03:38 pm at 3:38 pm |
  11. Marc PDX

    Obama is a better speaker and McCain is a better do-er. McCain is working on this problem in Washington today. Obama has gone to NC to resume his speaking tour.

    September 27, 2008 03:38 pm at 3:38 pm |
  12. Isabella , Canada

    McCain was clearly the better man in this debate , his answers were knowledgeable and straight to the point.
    Obama was out of his depth and looked uncomfortable , several times he resorted to political thetoric instead of answering the questions.
    It is a scary thought that Obama could become President , he lacks maturity and experience .
    Hillary Clinton was the best candidate and now ,I believe , John McCain would be the better and safer choice.

    September 27, 2008 03:52 pm at 3:52 pm |
  13. No Hillary = No Obama

    Bush's legacy will be a government run by crisis, long term financial committments placed on the backs of everyday Americans, the collapse of financial giants which have stood the test of time – up and thousands dead from a self-indugled military action. All this and Pelosi says "impeachment is off the table". Term limits are a must and terms for impeachment need to be expanded.

    September 27, 2008 03:55 pm at 3:55 pm |
  14. ilandking

    Lets tkae a look at what has happened.
    1)Mccain suspends his campaign to run to Washington to give his 'expertise' (I use that term very very loosely) and to bring all parties together (Although based on last night he doesnt show any kind of respect for anyone thats opposed to him)
    2) Talks stall. Mccain says he wont leave until something is done
    3) Mccain leaves Washington to participate in the debate. Says he will be off to Washington afterwards( according to his advisor they were leaving shortly)
    4) Mccain ends up in his party headquarters and decides to USE a phone to find out the progress.......

    Im sorry but couldnt he have just skipped the BS in 1,2, and 3 and just have done 4 as Obama had said from the beginning.....Funny how things turn out when someone is just right!

    September 27, 2008 04:00 pm at 4:00 pm |
  15. The Nightingale Sings in Berkley Square

    I guess while McCain is trying to work out a bipartisan deal, Obama will give a speech of hope and tomorrow.


    Good old Obama. I would like him to talk about giving everyone a tax cut while paying down the national debt and the bailout.

    September 27, 2008 04:01 pm at 4:01 pm |
  16. Larry

    Since McCain ran the GOVERNMENT while Clinton was President too,he's run the whole thing the last 16 years to hear Democrats tell it,,he KNOWS how to have a good economy too.

    If you're going to blame McCain for the last 8 years,then give him credit for the last 16 years.

    McCAIN 08

    September 27, 2008 04:10 pm at 4:10 pm |
  17. Sean

    Obama will give 80 PERCENT, not everyone, a tax cut. More than enough money from the richest 20 % of Americans to fund his spending plans, if the OIL CEOS can part with their many homes, private jets and limos!

    September 27, 2008 04:20 pm at 4:20 pm |
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