Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.I am not saying McCain deserves the credit. Credit, being a bad word, as if this bailout plan is an amazing thing...it's not, it's the band-aid now for a big, big boo-boo. I do think McCain did show leadership deciding to take part in discussions in his official position as a Senator, rather than serve his own interest in the race for President.
Instead, Obama said he deserves credit for making sure the proposal includes safeguards for taxpayers. Obama said he is inclined to support the bailout because it includes increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.
"None of those were in the president's provisions. They are identical to the things I called for the day that (Treasury) Secretary (Henry) Paulson released his package," Obama said. "That I think is an indication of the degree to which when it comes to protecting taxpayers, I was pushing very hard and involved in shaping those provisions."
Asked during an interview on CBS' "Face the Nation" whether McCain deserved credit for bringing lawmakers together, Obama said "no."Alas, I'm so relieved Senator Obama was there to steer the Congressional members in the right direction.
"Here are the facts: For two weeks I was on the phone everyday with Secretary Paulson and the congressional leaders making sure that the principles that have been ultimately adopted were incorporated in the bill," Obama said.
Congressional leaders were working through the weekend on a package to bailout troubled Wall Street firms. They hope to have a House vote on the measure Monday, with a vote in the Senate coming later.