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McCain vows to fight for bailout

Republican presidential hopeful John McCain says that he will keep pushing for a bailout for the US financial system, admitting lawmakers had failed to convince voters of its urgency.

world Updated: Sep 30, 2008 19:02 IST

Republican presidential hopeful John McCain said on Tuesday he would keep pushing for a bailout for the US financial system, admitting lawmakers had failed to convince voters of its urgency.

"I'm glad to stay at it. That's what my job is as an American, not as a candidate for president ... We have to get this job done for America and I have a plan to restore our economy," he said.

McCain added: "Let's not call it a bailout, let's call it a rescue -- because it is a rescue. It is a rescue of Main Street America."

President George W Bush was battling to save his 700-billion-dollar bailout of the US financial system after the House of Representatives rejected the plan Monday, sending stocks into a tailspin around the globe.

McCain acknowledged lawmakers had not made the case that the proposed US legislation would help voters and not just Wall Street.

In an interview with CNN, McCain said the bill failed "because we haven't convinced people that this is a rescue effort, not just for Wall Street, but for Main Street America, for working families, for small businesses, for the heartland of America ... where people are going to lose credit, they're going to lose their ability to make purchases of automobiles, of other necessities of life."