Yarmuth, likely to support bailout, swings credit to Obama

WASHINGTON – U.S. Rep. John Yarmuth (D-Louisville) confirmed reports that he was prepared to vote in favor of the financial rescue package coming before the House today, and he tried to swing some of the credit to Democratic presidential candidate Barack Obama, whom he said had been instrumental in helping to sway his vote and others for the bailout.

“[Obama has] been very, very active in talking to the people who voted no and explained why he’s taken the position that he has,” Yarmuth said in an interview outside the Capitol.

Yarmuth, a freshman congressman who supported Obama in the primaries, said the Illinois lawmaker had been engaging in private conversations with Democratic members, reassuring them that his White House would work closely with Congress on the future steps needed to address the financial crisis.

“The way Senator Obama put it to me yesterday or the day before yesterday was that – and I think this is the apt analogy – this is just patching the hole in the boat to get it to harbor and then we’ve got to do a massive rebuilding job.”

Obama and Republican rival John McCain voted in favor of the bailout bill the Senate passed on Wednesday evening.

Yarmuth said he and others didn’t like the bill coming before the floor today, but he suggested its passage was seen as necessary.

“Doing something now seems to be imperative,” he said.

In addition to Obama, Yarmuth credited small business owners in his district with helping to sway his vote.