Obama says time for action on bailout bill

LA CROSSE, Wis. (AP) -- Democratic presidential candidate Barack Obama says it's time for Congress "to take some clear action" on a financial rescue for Wall Street.

Speaking to a crowd in downtown La Crosse, Obama has warned that the $700 billion financial industry bailout is not just for Wall Street, but to keep the American economy afloat.

Obama spent the last day calling rank-and-file Democrats rallying support for the legislation, aides say. Obama also has called publicly for Congress to quickly pass the legislation "to prevent a crisis from turning into a catastrophe."

Obama will go to Washington to vote on the legislation Wednesday before heading to Michigan, a key battleground state.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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