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Bush presses bailout to House members

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U.S. President George W. Bush and Ed Lazear, Chairman of the PresidentÕs Council of Economic Advisors, (L) walk from the Eisenhower Executive Office Building back to the West Wing of the White House after meeting with business leaders in Washington on October 2, 2008. Yesterday the Senate passed a Bush administration-backed bill meant to help stabilize the mortgage and banking industry by providing liquid cash and taking bad loans off the books. Tomorrow the House will vote on the measure. (UPI Photo/Roger L. Wollenberg) 
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Published: Oct. 2, 2008 at 3:44 PM

WASHINGTON, Oct. 2 (UPI) -- Some House members who voted against the $700 billion bailout for U.S. financial markets indicated they have changed their minds, the White House said.

President George Bush, Vice President Dick Cheney and others have been working the phones, calling about three dozen House members to lobby for passage of the bill that the House is expected to take up Friday, White House spokesman Tony Fratto said.

The Senate passed a modified plan to stabilize the U.S. markets 74-25 Wednesday.

"(All) of the members saw the market reaction on Monday also after the vote, and I think that clarified things for a lot of members," Fratto said. "(Some) weren't sure whether we were really in a crisis situation."

Bush heard from some members "who had been no votes on Monday will be yes votes," Fratto said. "They may have changed their own minds, or he changed their minds."

Fratto said the White House was "optimistic" about the modified bill's chances for passage in the House.

Topics: Dick Cheney, George Bush, Tony Fratto
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