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Home / Markets
Monday, September 29, 2008
Obama: There Will be a Bailout
Associated Press
WESTMINSTER, Colo.--Democrat Barack Obama says he's confident Congress will eventually work out a bailout for the hobbled financial industry even though the House rejected the latest plan.
The presidential candidate said, "I'm confident we're going to get there, but it's going to be rocky."
The House voted down the $700 billion bailout bill Monday, and panicked investors sent the stock market plunging as they realized no immediate help was coming from Washington.
Obama said he talked with Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi and other leaders, who were trying to figure out the next step.
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