Axelrod Admits 'Bumpy' Start for Bailout
By Ben Pershing
One (almost) down, one to go. That's President Obama's current scorecard on big-ticket proposals, as Congress has reached a deal on his signature stimulus legislation but the administration still faces a tough task in convincing a skeptical public and Congress that its financial rescue plan is worth the risk and the trillion-plus dollar outlay.
On that latter point, the White House realizes the obvious -- the banking plan made an inauspicious debut. In an interview Wednesday with Lois Romano for the Washington Post's "Voices of Power" video series, Obama senior adviser David Axelrod acknowledged that the unveiling of the bailout was "bumpy," but expressed confidence that the proposal would work.
"Well, I think it was a bumpy rollout because Wall Street was hoping for a complete answer to some really complex and expensive problems, and what Secretary Geithner laid out didn't meet those expectations, but he laid out a strategy that we think is going to work," Axelrod said. "In the coming weeks, he'll lay out tactics to support that strategy, and people will know exactly what's expected of them and what our role will be as a government."
And Axelrod expressed confidence that members of the the financial industry would eventually come on board with the administration's plan. "It may not be exactly the solution that they want. It may require more of them than they'd like, but I think they have an interest in seeing a solution, and I think they'll work with us on that
solution," he said.
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