Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
No breakthrough at White House meeting on bailout plan
Adjust font size:

A top-level White House meeting aimed to reach consensus on a proposed US$700-billion financial bailout plan failed to make breakthrough Thursday.

"The deal is not finalized ... There's a commitment to get something done. And nobody is happy about it," said White House spokeswoman Dana Perino.

The meeting, attended by President George W. Bush, as well as presidential candidates Barack Obama and John McCain, took place after lawmakers agreed on the plan in principal in the Congress.

But the failure to reach agreement between the White House and Congress left uncertainties over the plan and raised political stakes for all parties involved.

"There never was a deal. But I do believe the meeting was important to move the process along," McCain, a Republican senator from Arizona, told ABC News after the meeting.

There is also an ongoing political drama being played out on the bailout plan and the planned presidential debate Friday.

McCain announced Wednesday he would suspend his campaign to focus on the solution for the financial turmoil and also proposed to delay his first debate with Obama, but Obama said he will go ahead.

McCain's aides accused Obama of putting himself before the country by sticking to the debate schedule.

But Obama and other Democrats said McCain tried to play a political game and his involvement in the bailout plan hasn't been helpful so far.

Obama, a Democratic senator from Illinois, reaffirmed Thursday that he will go to the debate venue in Oxford, Mississippi, Friday.

McCain still leaves his options open.

(Xinhua News Agency September 26, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Huge political price of US bailout package
- US Congress balks at huge financial bailout
- Oil prices earn biggest gain among bailout uncertainties
- Paulson urges Congress to approve bailout plan
Most Viewed >>
- KFC - 'a foreign brand with Chinese characteristics'
- Beverage contamination rumor 'not in line with facts'
- Danone likely to sell equity in Wahaha to Coca-Cola
- China most 'attractive' destination for FDI
- Banking regulator denies lending ban to US banks
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?