Politics | September 24, 2008 | 38 comments

McCain, Obama headed to Washington for bailout talks

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(CNN) -- Presidential candidates Sen. John McCain -- who said Wednesday that he was suspending his campaign because of the nation's economic crisis -- and Sen. Barack Obama will meet Thursday with President Bush to discuss a proposed Wall Street bailout.

McCain and Obama accepted Bush's invitation to discuss the proposed $700 billion bailout with him and congressional leaders at the White House, the candidates' aides said Wednesday night.

Also Wednesday night, McCain and Obama said in a joint statement that the bailout plan was "flawed" but that "the effort to protect the American economy must not fail."

"Now is a time to come together -- Democrats and Republicans -- in a spirit of cooperation for the sake of the American people," read the statement, which was released about 15 minutes before Bush made a televised address on the economy.

Earlier Wednesday, McCain announced that he would suspend his campaign to go to Washington and participate in negotiations on the bailout plan, and he called for a postponement of Friday's presidential debate.

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38 comments // McCain, Obama headed to Washington for bailout talks

  • johnbrett
    • 0
      johnbrett  
    • "he was a scared little Harvard graduate w/an attorney degree". Interesting 758880!! You probably voted for Bush. Things are looking great these days. Obama not only got his BA from Columbia University, and yes a law degree from Harvard. Not to mention he finished 1st, yes that's right, 1st in his class. If I remember correctly your "boys" both finished last in their class and one was a draft dodger. Oh yeah, and the "scared little Harvard graduate" went back to Columbia University to lecture Constitutional Law. The fact of it is this, you have no clue. Your boy McCain played politics because his poll numbers are falling fast and Obama called him on it. The debates will go on, and your guy McCain, who just recently said he knows very little about the economy, FLINCHED!! Win for Obama!!! "The little Harvard graduate" is going to be your next President. I know it must be disappointing for you to have a President with a real education. Bla Bla Bla !! Ha Ha Ha !!

    • 3 years ago
  • 758880
    • 0
      758880  
    • Lets see....Obama says to Washington....**** "CALL ME IF YOU NEED ME"**** Need him for what? To vote PRESENT for the 137th time! He was doing ANYTHING to not go to Washington because he is just full of "*** PROMISES W/NO SOLUTION *** He had his tail between his legs because this was reality time and he was a scared little Harvard graduate w/an attorney degree. LOOK OUT!! We all know how attorneys can be! BLA BLA BLA BLA BLA BLA BLA BLA!

    • 3 years ago
  • anddeanna
  • extremepain
    • 0
      extremepain  
    • Didn't John say recently this was more important than, and beyond any party politics, then proceeds to play political football by air dropping into D.C. to I guess be a lobbyist for his cause with the House.

      Many republicans were on board with a rough agreement earlier in the afternoon, then John goes to visit his buddy Boehner who is up in arms about this huge government socialization of banking. Next he and John come out of his office declaring there was no agreement at all, and they would produce their own proposal.

      That's great John.
      Maybe if your leadership was so stellar that you had to rush back to D.C. for this.

      Maybe we could have avoided a lot of these problems if you had been to your D.C. office once since April 08.

      Has anyone else been struck by how it seems that McCain has a breakthrough or parlor trick to grab a few news cycles when his numbers slide. It's much how his Mentor Mr. Bush used the terror-o-meter.

      I am not even going to bringing up multitasking.

      If anyone besides dyed-in-the-wool republicans are still thinking about this guy, Wow, I just don't get you at all.

    • 3 years ago
  • JohnA
    • 0
      JohnA  
    • They go to Washington to give Wall Street $700 Billion to Wall Street, will they also bailout the $5.5 Million the people of Mississippi spent to put on the debate they plan on standing up?

    • 3 years ago
  • Ambrose58
    • 0
      Ambrose58  
    • maybe it's me, but im not big on a 700 billion bailout plus tax breaks for CEO's who already embessled and cheated their way to wallstreet to skate away scot-free. only problem is, if we dont do that....then what will we do?

    • 3 years ago
  • VoyagerFilms
    • 0
      VoyagerFilms  
    • I believe mcBush had a stroke and is using the attempted financial theft of the American people as an excuse to cover himself.

      By the way - give the money to Americans - it's our money out of our pockets. Damn the bankers.

    • 3 years ago
  • Argon18
    • 0
      Argon18  
    • Image
    • "It was somewhat stunning" to receive McCain's phone call with that message, said Senate Majority Leader Harry Reid, D-Nev. Talks were proceeding fine without him, Reid said.

      In truth, McCain has faced a no-win situation for days. To support the bailout or a similar plan would put him at odds with millions of voters and many House Republicans at a time his campaign is sliding in the polls. Also, McCain has struggled to distance himself from the unpopular Bush, and embracing the plan would clearly not help.

      Reid spokesman Jim Manley said his boss gave McCain a cool reception. It included reading to him a statement that Reid had just released criticizing McCain's plans. "We need leadership, not a campaign photo-op," said the statement that Reid read to its intended target.

    • 3 years ago
  • Thompson_Guevara
    • 0
      Thompson_Guevara  
    • Surprised...but at the same time I'm not, imagine how much it would have hurt them politically if they didn't accept bush's invitation.

      Accepting the invite is the only way to protect their own campaign.

      But now McCain is stepping it up a notch by pretending to set aside his own self-interest, either way it advances them politically

      Remember people, don't let your vision of the future and getting involved with politics make you naive.

      Politicians still can't be trusted!

    • 3 years ago
  • BIOHAZARD
    • 0
      BIOHAZARD  
    • McCain and his gimmie gimmie nonsense is a complete waste of all of AMERICAS time and hey more tax dollars to be wasted and not seen where it goes, where can we vent for it to make a difference rather than getting overrun by our own Government to keep us quite while they rig the elections, YET AGAIN. . . .

      and the list goes on and on and on. . . .

    • 3 years ago
  • jamjam
    • 0
      jamjam  
    • McCaine is a coward just grandstanding because he is loosing so bad. He is one who helped cause this huge problem.

    • 3 years ago
  • AndreaKnoll
    • 0
      AndreaKnoll  
    • I don't know about you, but I'm totally seeing through McCain's 'I'm suspending my campaign for the good of the country' bullshit. The man's too old and tired to even campaign for the job, never mind doing it. Like the writer of this article said, it's not being ageist, it's being a realist.

    • 3 years ago
  • walski
    • 0
      walski  
    • IT'S GREAT MCCAIN IS GOING BACK, they all should, except Obama, stay on the road, he will only vote 'Present' anyways.

      FOR THE SHEEP THAT ONLY LISTEN TO MEDIA, GET AN ECONOMICS FOR DUMMIES BOOK.
      We have always been in debt!! These days were inevitable.

    • 3 years ago
  • Leonidis
  • 7c0m9
  • SuncatcherEyes
    • 0
      SuncatcherEyes  
    • Let me get this straight... of all the politicians in Washington, these two are the only ones who can get something done? They think awfully highly of themselves.

    • 3 years ago
  • rubykey
    • 0
      rubykey  
    • Senator with 26-year record of disdain for oversight and regulation of financial institutions calls off presidential debate as to offer his personal oversight
      for lending/insurance institutions that have crashed due to lack of his political parties oversight and regulation!

      Does anyone see the sick irony here?
      Shakespeare couldn’t write this stuff!

      Mccain are you strong enough, are you mentally fit, and is your health capable to endure the demand for the job?

      Evidentially not!

    • 3 years ago
  • jkw077
    • 0
      jkw077  
    • This is a final step in the takeover of the economy by a network of PRIVATE BANKS!! The Federal Reserve is a network of PRIVATE BANKS!

      And they're asking for 700 Billion!! With NO OVERSIGHT!!!

      And the person asking LIED ABOUT REASONS TO ENTER A WAR, which led to the deaths of over 4000 AMERICAN SOLDIERS and 500,000 men women, and Iraqi children!!!!

      WAKE THE F%$K UP!!!!!

    • 3 years ago
  • needu
    • 0
      needu  
    • First, a valuable lesson I have learned in business. When a salesman starts telling you that "you HAVE to act right now today or else" the deal is off! WALK AWAY! This salesman is not to be trusted!

    • 3 years ago
  • jkw077
  • omordn
    • 0
      omordn  
    • Bailing out Wall Street is a bunch of BS. When the government has to step in into a crisis like this one good things do not come after.

      Have you noticed that all of these politicians only talk about our economy or they talk about the war in Iraq or they talk about how we're in a deficit but they NEVER talk about future outcomes.

      I'm sick and tired of the Bush administration, McCain and party, Obama and party, and our damn Congress. All they are trying to do is clean up their peers' mess. I honestly don't believe they are trying to help our Country or our citizens, only themselves.

    • 3 years ago
  • pirho338
    • 0
      pirho338  
    • omordn:

      um, the future outcome is always implied. There are so many insightful comments on these threads, and they always pick the emptiest ones to put on tv..has anyone else noticed this?

    • 3 years ago
  • lfm
  • mako2424
    • 0
      mako2424  
    • Barack Obama said this morning* that though he plans to spend some time in Washington, he WILL be in Oxford for the first of the Presidential debates.

      Will McCain follow suit or will he continue his plan to duck out of this incredibly important debate during a tumultuous time in our country?

      If so, I say we pull a Letterman and put Keith Olbermann in his place. Ooo, scratch that. How about Steven Colbert!

      *He also (re-)announced commitments towards reducing carbon emissions by 80% and eliminating malaria that I found interesting.

    • 3 years ago
  • jkw077
    • 0
      jkw077  
    • I'm wondering how bad things have to get before people realize the time for blogging, emails and phone calls has passed.

    • 3 years ago
  • crob80227
    • 0
      crob80227  
    • How many advanced degrees in economics does McCain hold?

      None?

      Well, has McCain done ANYTHING in his entire career that had anything to do with the economy, tarrifs, regulations, stocks, mortgages, etc??? Anything?

      So how exactly is McCain going to "help" iron out points of contention when he doesn't understand any of the finer points involved?

      The man admitted that he doesn't know much about the economy, but now he is somehow going to bring the two sides together....ignoring the fact that the two sides ARE already together on 99 percent of the bailout deal and his presense is not necessary.

      It's a photo-op.

      Like Bush prancing around on a aircraft carrier now McCain is prentending to be knowledgable about the economy.

      His new campaign ads will feature himself and Obama and Bush "working together" because of McCain's "maverick" leadership on this issue....an issue that he knows nothing about, was told that he wasn't needed on and actually contributed nothing to.

      But that won't stop him from rolling out the new ads saying exactly the opposite. I imagine they'll be pictures in the ad of him looking wistfully into the distance. The wise and soft spoken heroic pose of a man who decided that a campaign wasn't as important as single handedly saving his country (cue swelling orchestra and fade to a waving American flag).

      We can see it now, can't we?

      About as subtle as a sledgehammer.

      I love how Bush helped his buddy McCain out by (all but) personally cancelling the debates and requesting both Obama and McCain to fly back to Washington.

      "The crisis of our economy and Sen. McCain sagging poll numbers demand our attention," Pres. Bush gravely intones into the TV cameras. "I invite both the terrorist, er, I mean the Muslim Obama and that ultra-patrotic American the honorable Senator McCain to stop campaigning immediately and focus on the crisis of giving McCain a chance to regroup and shoot new ads. Oh and the, uh, economy stuff too."

      Subtle!

    • 3 years ago
  • Joar
  • allIknowis
    • 0
      allIknowis  
    • crob80227:

      Well, he's a setting U.S. Senator, that's why he should be there. That's where his real job is, that goes for both of them.
      How many other senators have advance economic degrees? Doesn't matter, it's their job to fix their own fu** ups.

    • 3 years ago
  • synclaire
  • WilKoe
    • 0
      WilKoe  
    • I was shocked upon hearing that Senator McCain was 'suspending' his campaign (if drawing attention toward one's unprecedented actions is a way to avoid being seen as grandstanding) and pushing for a delay in the debate on Friday. Is THIS the type of approach we can expect in the hypothetical scenario in which he's elected on 04 November? Does he REALLY THINK that HE ALONE is going to make the difference in the ongoing bailout negotiations? Does he not think that we'd expect him to appoint competent individuals to serve in his administration that would carry out these activities on his behalf? Even President Bush has been wise to allow Treasury Secretary Paulson to work with Fed Chairman Bernanke to sort through this and engage with the folks who will most directly influence the final package.

      Imagine this: (Hypothetical President McCain on a call to Russian Prime Minister Vladimir Putin): "Hello, Vladimir, I'm sorry but I'm not going to be able to meet with you to discuss your unprovoked incursion into Ukraine, since I've got to sit in on a meeting about our highway funding bill along with my Treasury Secretary, Phil Gramm, who as you may recall, was the idiot who pushed through the legislation in 1999 that prevented us from regulating the credit default swap industry that resulted in our $700BN bailout of the financial services industry...by the way, thanks for purchasing some of our Treasury securities supporting this move..., and I need to make sure he doesn't screw up these negotiations. Would you mind suspending your bombing of Kiev until I'm out of that meeting? I'd send Vice President Palin, but Dr. Kissinger isn't available to show her where Ukraine is located on the map nor to hold her hand during her discussions with you. Thanks, President McCain

      Steve Schmidt and Rick Davis are going to go down in history as the single worst vindictive, short-sighted and least talented campaign management team in U.S. General Election history.

      Senators Obama and Biden are not perfect...no one is (except perhaps, Senator McCain, according to Senator MCCain), however, their approach to this crisis should be seen as a much more broadly involved level of engagement than anything Senator McCain and his handlers have to date produced.

    • 3 years ago
  • SDLN
  • dissimulator
  • intelligenceisacurse
    • 0
      intelligenceisacurse  
    • this is just a sham.

      a chance for Bush to try to shove this bailout down
      our throats and claim a bi-partisan victory.

      why cant the politicians represent the people for once?

      if Obama was worth anything, he would flat out
      oppose any bailout at all, same with McCain.

      for once, the right-wing wackos have some reason in
      their stance strictly against any bailout.

      if any bill at all passes for this bailout I will be so
      disappointed, words wont be able to express.

      however, I am already about as disappointed as a
      true intelligent American could be right about now,
      so I expect more crimes against the American people
      and I expect this bill to pass.

      this makes me sick.
      and Bushs speach last night made me sick too.

    • 3 years ago
  • bansheewail
    • 0
      bansheewail  
    • What will McCain, whose career has been dominated by Veterans Affairs, bring to a discussion about our financial situation??? Last Monday he said, "The fundamentals of our economy are strong" as the stock market was crashing. He brings nothing to the table. By "fundamentals" he must not have been refering to the dollar, unemployment, Wall Street, home values, or credit. I'm so glad he is putting "country first" and dodging the debate. It should expose him for the intellectual weakling that he truely is.

    • 3 years ago
  • richjm
    • 0
      richjm  
    • Right now, the thing I'm most interested in is whether McCain will definitely abstain from taking part in the debate.

      I'll imagine that after Obama's impressive response speech yesterday he's got no choice but to take part but I'm learning to not make any predictions about this election.

      A small part of me wouldn't even be surprised if Bush managed to sneak a third term in under a new law. Paulson could help with drawing something up...

    • 3 years ago
  • mattbrawn
  • joshuaheller
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