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Obama: 'Stay calm'

Posted by Scott Helman, Political Reporter September 29, 2008 05:35 PM

Barack Obama, campaigning near Denver, was all set to hail a bipartisan agreement on a bailout bill. He was to say, according to prepared remarks, "And today, Democrats and Republicans in Washington have agreed on an emergency rescue plan that is our best and only way to prevent an economic catastrophe."

Not so fast.

Obama was instead forced to acknowledge the impasse on Capitol Hill. But he said was he was "confident" that there would be a deal palatable to Congress, and he urged the markets and American voters to "stay calm." This was, he said, par for the course.

"Things are never smooth in Congress," Obama said. "Understand that it will get done, that we are going to make sure that an emergency package is put together, because it is required for us to stabilize the market."

He continued, "It's sort of like flying into Denver. You know you're going to land, but it's not always fun going over those mountains."

It's unclear how Americans will take Obama's assurances, but the market doesn't seem terribly assuaged. As of this writing, the Dow is down more than 700 points.

UPDATE: So let's get this straight. John McCain's campaign goes on TV to crow about how he helped lawmakers reach an agreement. McCain himself today in Ohio touts his own hands-on leadership in trying to solve the Wall Street mess. And yet his campaign is trying to slam Obama for being out of touch, because Obama's prepared remarks in Colorado today assumed the bailout would pass?

“When Barack Obama released remarks today that praised the passage of America’s economic rescue plan, just before his allies in Congress voted to kill it, it revealed just how out of touch Barack Obama has been during this crisis," McCain spokesman Tucker Bounds said in a statement.

It's unclear what "allies" McCain's camp is referring to. The plan was originally crafted by the Republican administration, and House Republicans voted against it by a two-to-one margin.


55 comments so far...
  1. Senator Obama - You are waaaay out of your league. Go back to the Chicago projects.

    - The American People

    Posted by Go Home Obama September 29, 08 03:44 PM
  1. Why would America REWARD complete Republican failure ?

    We wont.

    Posted by PulSamsara September 29, 08 03:57 PM
  1. Tell that to CNN! They are hysterical. Saying things like: "People will be losing their life's savings!!

    Posted by Jeanne September 29, 08 03:57 PM
  1. I don't know what's funnier, Obama's words of "wisdom," or the Jesus-like picture. How does he know how things run in congress? One year in and he already ran for president. This guy is a crazy socialist that will only increase taxes, government and USELESS, WASTEFUL social programs. We don't need a bailout. Those companies deserve to fail. They screwed up, it's not the governments job to bail them out. How is this crap even Constitutional? Oh, wait, it's not!

    Posted by Greg September 29, 08 03:57 PM
  1. This whole thing started when we elected the oilman from Texas who never found a drop of oil in his career.

    If you are a fan of irony, consider this: The conservative movement has utterly hated FDR, and his New Deal programs like Medicaid, Social Security, FDIC, Fannie Mae (1938), and the SEC for nearly 80 years. And for the past 8 years, a conservative was in the White House, with a very conservative agenda. For something like 16 of the past 18 years, the conservative dominated GOP has controlled Congress. Those are the facts. We now see that the grand experiment of deregulation has ended, and ended badly. The deregulation movement is now an historical footnote, just another interest group, and once in power they turned into socialists. Indeed, judging by the actions of the conservatives in power, and not the empty rhetoric that comes out of think tanks, the conservative movement has effectively turned the United States into a massive Socialist state, an appendage of Communist Russia, China and Venezuela. Whenever a Republican talking head says they are for any of the above mentioned things they should be questioned to explain how that statement (I'm for free markets) jibes with banning short selling of an entire sector of the market. Whenever a Republican says he is for smaller government, have him explain the nearly doubling of discretionary spending when the Republicans controlled all branches of government. Simply put, this week demonstrated how hollow and OUT OF TOUCH many of the Republican values are. They sound great on paper, but aren't put into practice when that result might cause financial harm to another Republican (McCain). Republicans use the word a lot to provoke fear but they are the real “socialists”.

    In the last 8 years or so Republicans have shown me that they will do anything and everything in their power to keep you from retaining an opinion based on the facts that their incompetence is comprised of.

    We might not own Iraq but we certainly are paying for it. The trillion plus we waste in Iraq could have done so much more for our security or economy if spent on just about anything else.

    I want the system to be fair for all Americans and have the system run by people who believe in it. On Nov. 4th, McCain/Palin, "Thanks, But No Thanks". The Democrats get my vote, I decided this years ago.

    Posted by ApostasyUSA September 29, 08 03:59 PM
  1. Go Home Obama:

    Stop behaving like a child. Grow up. You and people like you are the reason this country is falling down the tubes more rapidly every day. The man tells people we should be calm and have a little faith that things will get worked out, and you tell him to go home? What in hell is wrong with you? Would you rather people panic? Are you that un-American? Shame on you.

    Go home yourself. Go home and learn how to conduct yourself like an adult with manners.

    Posted by anonymoose September 29, 08 04:03 PM
  1. I don't believe the person above has the right to speak for "The American People" as signed.

    Posted by kdmf or freedom September 29, 08 04:04 PM
  1. Type your comment here...You idiot, Obama never lived in the projects - he was trying to help the people who were living there to have a better life and work their way OUT.

    Posted by Mary September 29, 08 04:05 PM
  1. There is an impostor trying to speak for The American People. The American People will speak on November 4. We will tell Obama and McCain where to go.

    Posted by msgijoe September 29, 08 04:05 PM
  1. Hey, mr 'go home obama', you don't speak for the american people. You speak for yourself. Your thinly veiled racist attack on obama only goes to show that it's people like you who put the idiots in charge that let this happen. Tell ya what, big fella, do this country a favor and don't vote. You're clearly not qualified.

    Posted by You All Got What You Deserved September 29, 08 04:05 PM
  1. Yeah, and let Sarah Palin and Phil Gramm take over. I'm sure they'll do wonders for this country. Just like my hero, GWB. He's always right, and everything he touches turns to gold!

    Posted by NJPatriot September 29, 08 04:05 PM
  1. Obama is a rookie. He cannot handle working across the aisle to provide leadership. Pelosi has a big fat mouth.

    Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source. House Minority Whip Roy Blunt said he thinks Republicans could have provided a dozen more votes had Pelosi not given her speech.

    Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the "failed economic policies" of the last eight years.

    "When was the last time someone asked you for $700 billion?" she asked. "It is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies — policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system."

    House Republican Conference Chairman, Rep. Adam Putnam, R-Fla., said "he was disappointed that the process that yielded a bipartisan approach took a very marked, partisan tone at the end of the debate."

    This is not a partisan crisis, this is an economic crisis," said Deputy Minority Whip Rep. Eric Cantor, who said that 94 Democrats also refused to go along with the bill. He described the vote as the result of "Speaker Pelosi's failure to listen and failure to lead."

    Posted by Sara from Saugus September 29, 08 04:07 PM
  1. The one that's "out of her league" is Sarah Palin, even republicans are asking her to go back to Alaska!

    -The American People.

    Posted by Sarah's Grandfather September 29, 08 04:08 PM
  1. McCain cann't even get his own party to follow the party line. How is he going to get anything accomplished on any level? He can't even get his VP to understand the party line.

    Posted by a heffernan September 29, 08 04:08 PM
  1. There is an impostor trying to speak for The American People. The American People will speak on November 4. We will tell Obama and McCain where to go.

    Posted by msgijoe September 29, 08 04:09 PM
  1. Speak for yourself, not "The American People." I think YOU are waaaaay out of YOUR league, which is what your obvious ignorance belies. This is a time when we need calm, constructive leadership, and informed and questioning voices speaking, not trite, superficial, lazy "commentary." Next time, please, do "The American People" you claim to speak for a favor, and keep your mouth shut. You are a real bore.

    Posted by An angry American Person September 29, 08 04:10 PM
  1. It is not the Obama is out of his league, but rather that everyone is out of their league. The government is trying to apply a pressure bandage before the patient bleeds out. This will not be an easy fix, and it is the American people who will suffer from the results of years of deregulation. People are basically out for themselves and that is why we need watchdogs to protect everyone.

    Posted by Linda Mack September 29, 08 04:11 PM
  1. You are just a very smart person, Mr. The American People (...) John McCain with his strong "Fundamentals of the American economy are strong" should head back to his numerous luxury houses and drink champagne with you.

    The Positive Voice. C.S.

    Posted by The Positive Voice. C.S. September 29, 08 04:12 PM
  1. the comment by 'the american people' only serves to inflame a volitile situation. How dare he/she suggest that they represent the american people. How dare they play politics when there is a crisis. Are they really that petty or just insensitive the plight of real american people?

    Posted by peter d'Entremont September 29, 08 04:12 PM
  1. obama is doing the right thing in suggesting calm and americans know it, panic and knee jerk reactions would cause collapse. this is, as he says, the final verdict on the bush years, which mcain has supported over and over and over again to his own profit.

    Posted by r September 29, 08 04:12 PM
  1. Speak for yourself "GoHomeObama." You do not speak for me and a good number of the American Public.

    What should Obama have said? "OH CRAP. WE'RE SCREWED?"

    Perhaps you should use your advice and apply it to Governor Palin. Talk about "waaaaay out of your league."

    Posted by Enough September 29, 08 04:13 PM
  1. Senator Obama - Thank you for keeping your cool and showing us what true leadership is. We don't need another headless chicken running for office.

    - The American People

    Posted by Somebody Catch that Chicken McCain September 29, 08 04:14 PM
  1. After a week of the same old Bush fear mongering and the McCain blame game, it is so much more reassuring to hear a voice of reason during times of crisis. Its not Obama that is out of his league, that title belongs to the 1 term Govenor from Alaska.

    Posted by PhD's for Obama September 29, 08 04:14 PM
  1. "Go Home Obama" you fail.
    And you fail at retorts, and at life :D

    - The American Voters

    Obama '08 BABY!

    Posted by It's Me baby ME! September 29, 08 04:17 PM
  1. You know that a big part of this countries temperament and attitude is based on the degree of confidence we have in its leader. This has been severely lacking for many years, and it is quite refreshing to hear someone that is taking a sensible approach> Mr. Obama is trying to keep things under control, instead of “Suspending” his campaign, and flying into Washington like Mighty Mouse, and screwing everything up!

    Posted by Mark from Wisconsin September 29, 08 04:18 PM
  1. "Stay Calm!" said the captain of the Titantic.

    Obama does not have ANY leadership skills. He and his clown Democrats, Pelosi and Frank, refused to set aside politics and were only concerned about getting in zingers against Bush. It didn't work.

    They were successful in tanking your 401k's and Pension Plans today with their moronic remarks.

    Obama failed his biggest leadership test. "F" "F" "F"


    Posted by Obama failed September 29, 08 04:19 PM
  1. Senator Obama - The majority of intelligent, well educated Americans stand behind you. Continue your great work to bring our country out of crisis - economic and international.

    Posted by A thoughtful American September 29, 08 04:20 PM
  1. You know that a big part of this countries temperament and attitude is based on the degree of confidence we have in its leader. This has been severely lacking for many years, and it is quite refreshing to hear someone that is taking a sensible approach> Mr. Obama is trying to keep things under control, instead of “Suspending” his campaign, and flying into Washington like Mighty Mouse, and screwing everything up!

    Posted by Mark from Wisconsin September 29, 08 04:20 PM
  1. Obama thinks this is a freakin joke!!!!!

    Obama has no concern for the Middle Class.

    Obama does NOT care that your 401k just went down the tubes today.

    Obama laughs it off comparing it to flying a freakin plane into Denver. Well, he and Pelosi and Frank just flew that freakin plane into the freakin MOUNTAINS!!!

    Crash and Burn Obama.

    Crash and Burn.


    Posted by Crash and Burn Obama September 29, 08 04:21 PM
  1. "The American People", you are waaaaay vague in your criticism. Can you offer specifics? Does it bother you that Obama and Biden seem to have 100x the grasp of economic knowledge than does your dynamic duo of John "The fundamentals of our economy are strong" McCain and Sarah "You know you can actually SEE Russia from Alaska" Palin?

    Enough with the empty insults my friend- the American people are beginning to see which ticket is best for America, and it's clearly Obama/Biden- no stunts, no drama, just practical solutions to the mess Bush and Co. have been creating and neglecting for the past 8 years. But I suppose we should all vote "Country First" because Sen. Obama and Sen. Biden obviously do not care about "Country" even though they've sacrificed a good portion of their lives to serve it. No amount of mud-sligning and false attacks can even dent that essential truth. Sorry.

    Wake up and smell Democracy- this will be close, but Obama will have convinced the majority people he's best for the job before Nov. 4th.

    PS: I'd have to say the fumbling and standoffish Sen. McCain proved "out his league" at the debates- he was going out of his way to disrespect Obama with his smirks and refusal to talk to or even make eye contact with Obama. Maybe Palin will fare better this Thursday and confirm to the GOP that she was as they say, a "brilliant choice"? Intelligent females can see through the politics behind that pick- all the way through it. I wish Palin the best of luck vs. Biden this Thursday.

    Posted by Vote4Change2008 September 29, 08 04:22 PM
  1. Don't speak for me "American People"! Ad hominem arguments are always a last resort. Wait. Am I too professorial?

    Posted by Prof. Philsophy September 29, 08 04:24 PM
  1. The Obama-Biden ticket is the only hope for a brighter future for our country!

    Posted by Ben SF September 29, 08 04:24 PM
  1. All those representatives, democrats and republicans, that voted AGAINST this bill need to be FIRED!
    However...all those whiny Americans who cry about "bailing out wallstreet" are too fricking stupid to realize that it's a must if we want to stablize our economy!
    Say goodbye to your money and life as you know it!!!!

    Posted by GRT September 29, 08 04:30 PM
  1. Has John McCain's campaign remained in suspension? If not, will he suspend it to head back to Washington to solve this mess?

    Posted by Shripathi Kamath September 29, 08 04:40 PM
  1. another way to say this would be don't panic.
    good advice. McCain is off course off on a tirade again.

    Posted by desertique September 29, 08 04:44 PM
  1. Well, that is another fine mess BUSH and his rich buddies got us into. Obama is our saviour. Lets us pray!!!

    Posted by Truth Teller September 29, 08 04:44 PM
  1. Try and picture Sarah Palin fixing the economy....
    End of discussion. Vote Obama/Biden 08

    Posted by oaklynne September 29, 08 04:45 PM
  1. "Go back to the Chicago projects" ? That's not very nice. First of all, in America, we don't talk like that. Mind your manners young man.

    Posted by MJarvis September 29, 08 04:47 PM
  1. It was House Republicans who killed this bailout, for better or for worse. As a Democratic senator, what in the world does Obama have to do with the votes of House Republicans?

    This is clearly the result of de-regulation of financial markets and institutions. Those policies are clearly the mantra of the Republican Party, and up until last week, of John McCain. I respect the House Republicans for sticking to their 'free market' ideals no matter how wrong I believe they are. McCain failed in his supposed leadership ability to muster their support for the $700b giveaway. Obama had little to do with this.

    Posted by Montanans for Commen Sense September 29, 08 04:52 PM
  1. Has John McCain's campaign remained in suspension? If not, will he suspend it to head back to Washington to solve this mess?

    Posted by Shripathi Kamath September 29, 08 04:54 PM
  1. The only thing in worse crisis than our economy is our representatives. Our economy will recover, but the Washington mentality may be beyond repair. Citizens are tired of listening to promises that end up in the pockets of the wealthiest Americans.

    What they don't seem to realize is that our trust in our representatives is lower than the stock market right now.

    Posted by steve eyes September 29, 08 04:54 PM
  1. Maybe John McCain's famous "surge" will be able to fix everything- even though the violence in Baghdad has gone up four fold the last two weeks- there is still General William Westmoreland's "light at the end of the tunnel" as happened in Viet-Nam. John " I know nothing about economics," has proved it again.

    We do not need John McCain's blame game. It is counterproductive and will not solve anything. No wonder his fellow Senators refer to him as "John the Jerk."

    Posted by Luke Gilmore September 29, 08 04:55 PM
  1. Thank you John McCain, for fixing this problem like you said you were. What would we do without you? Your stunt caused the greatest single point drop in Wall Street history. John McCain has already caused more damage to the country as a candidate than most presidents do when in office. Please, John, focus your attention on health care and the wars in Iraq and Afghanistan. I'm sure your steady hand will solve those problems right away. Maybe McCain can just smile at the markets and the yellow on his teeth will scare them into dropping any faster.

    Posted by ol' john September 29, 08 04:59 PM
  1. It is ABSOLUTELY amazing how idiotic, uneducated, unintelligent nut cases just spew their vitriolic lies and smears....namely "GoHomeObama" and "Crash and Burn Obama". You 2 are crackpots who need to get back on their medications and go back to the asylum!

    Posted by mrsb September 29, 08 05:00 PM
  1. Senator Obama - You are waaaay out of your league. Go back to the Chicago projects.

    - The American People

    Do not speak for me. I am part of the American people and I think he will do a damn better job than McCain the McSame.

    Posted by gmlawrence September 29, 08 05:00 PM
  1. Dear Greg:

    If you have anything to save, you'd realize you're losing it due to the Republican politics. Also, its not a "bailout". Its a line of credit to purchase assets as cheap as you'll ever see them (such as Citigroup was able to do today with Wachovia.
    If ever there was a time for a government to actually "do something", this is it. Hard to believe they all just packed it in.

    Posted by Sean O September 29, 08 05:01 PM
  1. believe in or not but is an real leader who can help you jarks ass out there the most of America are an idiot just talking walking with a big bulls in mind you think you smart but not realy you needed a doctor is obama who's can stand up and lock at your face and tell you wrong you lie you wrong you lie straight to face . Your old same leaders never going to tell you the truth . We europeans are too smart for a doumb leader in our houses i love u.s.a but the most of you are stupid kevin germany

    Posted by kevin September 29, 08 05:01 PM
  1. Republicans care about their party (or maybe its the racism) - not their country. That is the only explanation I can think of why they support grumpy grandpa McCain and Alaksa Beauty Queen.

    McCain's camp is all about wag-the-dog. They are waging a dishonest campaign based on smear, fear and outright lies. McCain's economic plan is an extension of the Bush plan so is his foreign policy. He is against peddling influence but surrounds himself with lobbyist. He is against earmarks, but his running mate is a queen of earmarks. So its funny that he criticizes the Bush administration and casts himself as a reformist.

    This country cannot afford a geriatric leader like that in these desperate times.

    Posted by Politcaleye September 29, 08 05:02 PM
  1. Obama gets it. McCain doesn't get it. Palin..... well.... you know...

    Posted by Paul Stewart September 29, 08 05:05 PM
  1. Dear imbeciles:

    OBAMA can't reach across the aisle? You dopes. Obama's party voted for the bipartisan bill; McCain's party, despite his AWESOME leadership, REJECTED IT.

    Wake up.

    Posted by Matt September 29, 08 05:06 PM
  1. I am the One we have been waiting for!

    I am The One!

    I am The Messiah!

    I will lead you to the Marxist Promise Land!

    Just call me, I'll be there!

    This is a great country! That's why we need to change it!

    - Barack Hussein Obama


    Posted by BHO is a Fraud September 29, 08 05:23 PM
  1. Obama is urging Americans to remain calm, McCain, on the other hand, prefers to play the fear card and the scapegoat card.

    The choice is clear: democrat versus demagogue.

    Let us not forget, George W. Bush is still at the controls of the stalled and drifting ship of state. Obama would be well advised to avoid second-guessing a seated president, especially one who is currently sitting upon the scorching hot seat of looming economic catastrophe.

    Obama should let Junior Bush simmer in his own juices and he needs to positively link MCain to the failed Bush policies that have led to the current crisis.


    Posted by new_york_loner September 29, 08 05:26 PM
  1. Bush, McCain can run. But they 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.

    When have you ever known any government plan, or project to only cost what the government said it would. Remember the war in Iraq. Bush and his so-called advisers said it would only cost you about 80 billion dollars. But we now know that the war in Iraq will cost you, and your children, and your grand children over a trillion dollars, and still counting.

    So if 80 billion can end up costing you over a trillion dollars. How much could 700 billion end up costing you. Any math wizards out there. I come up with 9 trillion...:-(

    My fellow human beings, just as I warned you ahead of this catastrophic economic meltdown, I must now warn you that what is ahead 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 blessed 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 29, 08 06:02 PM
  1. wow, racists..., cumudgens, angry men, angry women...macpain will save us...obamas the man...fighting it out like its big time wrestling.
    amazing!!! the most entertaining show in town!
    come on, sort your selves out do you realize how foolish you sound like spoiled little brats crying that you cant have a bigger car, more icecream, more chanels, more square feet.
    come on, be nice, be friendly, improve your minds, wake the #$%^& up!!
    what have you just lived through? george bush, dick chaney, rumsfield. all war crimanals. just make a change. it would be good for you.
    from someone who loves you but cant believe you're really this immature. grow up america the world is waiting.

    Posted by richard may September 29, 08 07:24 PM
  1. EVERY time Tucker Bounds makes any comments (he's also the one to share with us that John McCain doesn't officially speak for the McCain campaign during one of John's less brilliant moments) he just sounds like he is trying to torpedo his candidate.

    For the love of fairness, if no other reason, will somebody put a damned gag on this man! And this is coming from somebody voting for Obama! Tucker is a stain that should be sequestered with Palin.

    Posted by Rob in Michigan September 30, 08 01:39 AM
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About political intelligence Field reports from Boston Globe reporters and editors covering the 2008 presidential campaign and the national maneuvering of Bay State politicians.

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