Sen. Barack Obama leaves after speaking with reporters following a White House meeting, Thursday, Sept. 25, 2008. (AP Photo/Alex Brandon)
by John McCormick
Sen. Barack Obama is spending an unexpected night in Washington following the failure of an agreement on a proposed $700 billion federal bailout package. He met earlier this evening with reporters. Some of the highlights from his news conference are below.
"This is an extraordinary serious moment in our country's history. Regardless of how we got into this mess....it is critical for us to work in a bipartisan way, not worrying about credit or blame to try to deal with the short-term problem. I am as frustrated as anybody about the speculator greed and risk-taking, as well as the lack of oversight and regulation that led us into this circumstance. But at this point, people's jobs, homes, small businesses, the ability of people to make payroll, all those could be impacted."
"Yesterday, I put out a joint statement with John McCain -- at my suggestion -- that outlines some core principles that a deal should include."
"My impression from the meeting today is that the president and the Secretary of the Treasury still have some work to do with the House Republicans."
"My hope is that we are going to have discussions. I think that it is important for those who have different ideas to get them out front as quickly as possible and to make sure that they are vetted as quickly as possible."
"What I've found, and I think it was confirmed today, is that when you inject presidential politics into delicate negotiations, it's not necessarily as helpful as it needs to be. Just because there is a lot of glare of the spotlight, there's the potential for posturing or suspicions and, you know, I think that the way that I've been working over the last week, constantly in contact with the secretary and congressional leaders, you know, may end up creating an environment in which you can actually get something done. When you're not worrying about whose getting credit, or whose getting blamed, then things tend to move forward a little more constructively."
On Friday's scheduled debate: "I believe that the most important thing that John McCain and I can do tomorrow, in additional to continuing to monitor the situation, and talking to congressional leaders and the administration, is to go to Mississippi for 90 minutes. Go before the American people and explain our vision of where the economy needs to go. One of us is going to be in charge of this mess in four months....My hope is that the debate goes forward. I intend to be there."
Q: Is McCain ducking the debate?
"Sen. McCain has no reason to be fearful about a debate. He's a person of strong opinions and, you know, he's been expressing them on the campaign trail. This does give us an opportunity to go back and forth."
Q: What was accomplished in the White House meetings?
"I'm not clear that in a very difficult situation like this, that doing things in the spotlight and injecting presidential politics is necessarily useful."
Q: Do you think politics is being played with this bill and given the time issues involved, should House Democrats consider passing this bill without support of House Republicans?
"House Democrats and Senate Democrats and me and the leadership are all pretty burned up about this thing. This wasn't happening on our watch. We weren't, you know, preventing some of the regulatory reforms that might have prevented us from getting here. Having said that, I think we all want to act responsibly....."
"Democrats are just as frustrated if not more, and I think more justifiably frustrated with the situation here. I am advising the congressional leaders that we shouldn't try to load this thing up. That, you know, at some point, we may need to hold our nose and act in what's going to in the best, immediate interests of the country. There are no good options at this point. There are bad options and worse options -- sounds familiar from our discussions of Iraq. But, you know, I have to tell you that the Republicans are going to have to take some responsibility, as well. And I think that's what bipartisanship means."
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Comments
"Yesterday, I put out a joint statement with John McCain -- at my suggestion --
The Empty Suit Talking
Can imagne what the debate will be like it it goes on-
Posted by: George | September 25, 2008 8:39 PM
I really, really hope, for the sake of this country, that McCain doesn't screw this up.
This is beyond politics right now, this is getting to whether we in fact have an economic future. And yes, I am selfish her - I have kids in school, and their ability to stay there depends on my ability to keep my job.
Posted by: cta | September 25, 2008 8:39 PM
McCain Runs And Hides From His Past:
John McCain running from the debate with Barack Obama is unacceptable, and COWARDICE! There are over 350 members of congress to deal with the US economic collapse. And even more capital hill aids, advisers, and experts to deal with the economic catastrophe created by the corrupt Bush McCain presidency and the past republican controlled congress.
Every American, and TRUE! patriot needs to demand that John McCain debate Barack Obama and tell the American people how he is going to fix this economic catastrophe that he (John McCain), Bush, and the past Republican controlled congress created.
Contact the news media. Your local papers. And demand that they hold John McCain accountable to debate Barack Obama. Contact all your friends and ask them to do the same. Call your senators, and congressmen and tell them that you expect "Let Them Eat Cake" John McCain to debate Barack Obama on this economic catastrophe that John McCain and "Let Them Eat Cake" BUSH! created.
It's time to get ANGRY! America. Tell John McCain you want answers, and you want those answers NOW!
He can run. But he cant hide anymore.
What ever congress does to try and fix our stunning economic catastrophe needs to be done very carefully. Congress needs to take their time, and be sure of what they are doing. Whatever is done needs to be sharply focused at helping, and protecting the best interest of the ordinary Americans. In particular the vast American middle class. 700 billion dollars is a lot of the peoples money to spend to bail out a bunch of corrupt Bush loan sharks.
My fellow human beings, just as I warned you ahead of this catastrophic economic meltdown, I must now warn you that what is a head has the potential to be even more catastrophic than what we are going through now. The worlds geopolitical landscape has been booby trapped by the Bush McCain administration and their republican allies in congress. These booby traps are poised to spring at any time.
Fortunately the Worlds Nations have been blest with many excellent leaders (except the US) who have been careful, wise, strong, and self-restrained in dealing with the provocations, and antagonism's of the Bush, McCain administration.
Barack Obama and the democrats are your best hope now. Tell your family, friends, and everyone you know to support them as best you can, and vote for them like your life, and the lives of your loved ones depends on it. Because it does. You will not survive 4 more years of Bush McCain.
JACK SMITH - WORKING CLASS...
Posted by: jacksmith | September 25, 2008 8:55 PM
McCain has grandstanded for the conservative base.
On the one hand, the President says we have to resolve this immediately.
On the other McCain now proposes a study group to produce a response in 90 days.
Posted by: Bruce becker | September 25, 2008 9:01 PM
McCain has grandstanded for the conservative base.
On the one hand, the President says we have to resolve this immediately.
It was so important, that McCain is trying to get out of the debate.
On the other hand McCain now actually proposes a committee study group to produce a response in 90 days.
Posted by: Bruce becker | September 25, 2008 9:02 PM
This crisis on wall street is as damaging to the reputation of America as Bush's ill conceived Iraq War. We have lost all credibility as an economic power. ..............
http://thefiresidepost.com/2008/09/25/america-has-lost-economic-authority/
Posted by: Ohg Rea Tone | September 25, 2008 9:05 PM
I thought Carvell was right. This campaign is over. But you know what, McCain should shove this debate out the door.
He did ask for more face time. Obama just has to have a script. Remember Hillary! Remember the last debate Obama participated in?
htttp://www.boppoll.com
Posted by: And uh..And uh... | September 25, 2008 9:17 PM
Obama would sign any bailout package, just so he get back to his hotel room and study up on foreign policy.
The Republicans are taking the dems to the wood shed on this one!
Paulo
Posted by: Paulo | September 25, 2008 10:40 PM
Aren't the Dems in the majority? If they think this plan will work then they should just pass it and be willing to accept the responsibility for the success or failure. Why does it have to be bipartisian?
Posted by: vla | September 26, 2008 8:06 AM
Paulo:
"The Republicans are taking the dems to the wood shed on this one!"
What reality world are you living in?? It is the Democrats who have taken the Republicans to the "wood shed" on this one.
Posted by: Bob "Hussein" inAtlanta | September 26, 2008 9:49 AM
Did he weigh in on the oh so important Stones or Beatles issue?
As usual only one candidate is fighting for the taxpayers' money.
Posted by: Jeff | September 26, 2008 10:35 AM
I wonder if McCain will remember that the Iraq war started before the "surge". So far he only seems to think the surge started it and that the horrible decisions that were made to take us to war against a country that was not a threat, for which he played a vital role, did not show his poor judgement. And then we only have to look at Palin to see an example of what he thinks of the country and women in particular - another poor judgement. McCain is a threat to the United States and we can't let another un-intellegent Republican get in office and totally destroy us!!
Posted by: JohnS | September 26, 2008 3:46 PM