Obama, McCain help House pass financial bill

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Presidential contenders Barack Obama and John McCain helped House leaders round up votes for Friday's passage of a $700 billion financial rescue plan, and Obama's role seemed particularly energetic, Democrats said.

Several lawmakers described receiving calls from Obama, who told them that, if elected, he would help hard-pressed homeowners keep their houses.

For nearly two weeks, Obama had kept more distance from the costly and contentious plan than had McCain, the Republican nominee. But when House leaders began their all-out push to convert members who had voted "no" on Monday, Obama called several wavering Democrats who ended up voting "yes" on Friday.

Obama "made numerous calls" and "helped us gather the votes on the Democratic side to pass this legislation," said Rep. Rahm Emanuel, D-Ill., chairman of his party's House caucus.

McCain had played a more visible role in negotiations last week. He temporarily suspended his campaign to return to Washington and asked for a White House summit meeting, which turned into near chaos.

On Friday, the McCain campaign and House GOP leaders said McCain called several Republican lawmakers this week, urging them to back the legislative package after the Senate reworked it. But few House members publicly described such calls, and at least one said hers never came.

"They told me he was going to call me," said Rep. Sue Myrick, R-N.C. "He didn't."

"I may lose this race over this vote, but that's OK with me," Myrick said of her re-election bid. But voting yes "is the right vote for the country," she said.

Rep. John Shadegg, R-Ariz., who also switched from "no" to "yes," said he spoke with McCain earlier in the week. McCain's campaign declined to name others he had called.

Numerous lawmakers said it's far from clear that the bailout plan will work, and politicians who support it may have a lot of explaining to do if it falls flat. But Obama and McCain have thrown in their lot, and Democrats seemed especially eager to describe Obama's role.

"He called me at my home Tuesday night," freshman Rep. Bruce Braley, D-Iowa, told reporters. "He didn't try to convince me that I had to change my vote."

Instead, Braley said, Obama asked about his concerns. "He wanted to talk about his vision for moving forward with Congress" on economic and housing issues, he said.

Braley was one of 33 House Democrats who switched to the "yes" side Friday, along with 25 Republicans.

Rep. John Yarmuth of Kentucky, another Democrat who switched after talking with Obama, said the presidential nominee had described the bill as "just patching up a hole in the boat to get it to port."

Reps. Elijah Cummings and Donna Edwards, both Maryland Democrats, were among several members of the Congressional Black Caucus who decided to back the bill after talking with Obama.

Cummings said Obama told him that, if elected president, he would direct a Treasury Department official to work with homeowners in foreclosure to restructure their loans. Obama also said he would seek changes in bankruptcy laws allowing judges to reduce the amount that borrowers owe on their home loans, Cummings said.

"It's not too often you get the future president telling you that his priority matches your priority," said Cummings.

Obama said in a statement after the House vote that the nation "is facing one of the greatest financial crises in history." The bill's passage, he said, "was absolutely necessary to prevent an economic catastrophe that could have cost millions of jobs and forced businesses across the country into bankruptcy."

McCain said in a statement: "This rescue bill is not perfect, and it is an outrage that it's even necessary. But we must stop the damage to our economy done by corrupt and incompetent practices on Wall Street and in Washington."

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