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September 15th, 2008
09:46 AM ET

Morning Buzz: War of words and Wall St. woes

Penny Manis
AC360 Senior Producer

We had quite a weekend of insults flying back and forth on the campaign trail. It’s getting nasty isn’t it? Barack Obama said that John Mccain is running the sleaziest, most dishonorable campaign in history, and John Mccain chastised Barack Obama right back for showing ‘zero restraint’ in his remarks while the nation was dealing with Hurricane Ike.

Even Karl Rove weighed in, saying both candidates need to ‘be careful’ about their attacks on each other. When Karl Rove thinks that they are both going too far, well, that says it all doesn’t it? We have 50 more days to go, oh boy.

However the candidates’ nasty remarks over the weekend can’t compare to the even more gruesome news this morning on Wall Street...

Lehman Brothers will file for bankruptcy protection, and Merrill Lynch will be sold to the Bank of America. Traders describe the situation as ‘utter chaos’. What happens on the campaign trail today may be largely shaped by what happens at the opening bell on nervous Wall Street. We’ll be watching for additional comments from our politicians today on this situation as it unfolds, they have both already released statements this morning.

The economy is squarely the top voter concern in these elections and how both candidates’ continue to react to this news is important. Candy Crowley, Ed Henry and Dana Bash are following the candidates today and one or all of them will be offering reports on all this tonight.

Joe Biden is expected to step up his attacks against John McCain today, and our reporter Joe Johns will be following his moves closely, and offer more insight into Joe Biden’s background.

Randi Kaye is still in Alaska, she has a TV exclusive with an informal ethics adviser who warned Sarah Palin back in July that the trooper probe was turning into a serious problem for her and gave her instructions on how to handle it, which she didn't follow. This ethics advisor thinks if she had listened to him this situation would have been put to bed a long time ago.

Anderson is back in New York tonight, and we left Gary Tuchman behind in Texas to continue following the aftermath of the hurricane for us. He is trying to get Crystal Island which got hit very hard by Ike and apparently no one has been there yet. One can only get there by boat. There are rumors that many people who tried to ride out the storm are there so Gary is going to see if we can make it out there and we’ll see what he finds.

Lastly, Ted Rowlands is in Vegas today covering opening statements from the OJ trial. It’s like ‘déjà vu’ isn’t it? Hmmm.

That’s where we are starting today… tune in at 10pET! See you later.


Filed under: The Buzz
soundoff (25 Responses)
  1. James Shelton

    I am so tired of our "politicians" and their ridiculous lies and distortions of truth. First, Mr. Obama, if he actually had the "experience" he claims to have would not be pointing fingers at the easiest target in this campaign, the "Bush Years". Facts are, under Reagan in the early 80's, the Democrats AND the Republicans decided the banking institutions could regulate themselves.

    To blame one administration for the decades of greed and fraud in the banking industry is ludicrous and tells me more about Obama that convinces me he is less qualified even than Palin!

    Where has the Congress been for the last two years; where has the Congress been for the last nearly three decades for that matter.

    Can I make a suggestion? Why don't we change the Constitution and let all parties select who they believe would be their best candidate. Then, allow NO ads, campaign crap that is like a Hollywood productions with lies, inuendos and half-truths. Instead, some of you news media, forget the opinions of either side...ask the hard questions all in debates, televised and on the internet.... THEN...let us all vote!

    Oh well.... nothing will change...... no REAL CHANGE! Let's give the Constitution to the Iraqi's... we don't use it anymore.

    September 15, 2008 at 5:15 pm |
  2. Lisa from NC

    Wisdom

    First, I don't usually dignify comments that include internet slang (LOL). However, I have not been blindsided, and I did not say that Obama had never presented a negative ad. If you go back and check the ads, you will find that his ads/comments were in response to an attack (by Hillary or McCain). Hence, the statement about how he appears if he does not respond to criticism. Also, I defy you to find a negative ad or relentless assault made about Palin by Obama. Obama can't be blamed for comments made by the press. In fact, when the press and others were attacking Palin's pregnant teenage daughter, Obama made a firm statement about leaving families out of this political process. I stand by my comments. And...after listening to McCains comments today about the economy being "basically sound" , we all should be worried about this man's cognitive abilities. Wow, he is out of touch! This man has no clue how average people are suffering. People need not only worry about Palin's paper thin understanding of the way government/economy works but also need to pay close attention to McCain's bizarre and out of touch ideology.

    September 15, 2008 at 5:12 pm |
  3. lampe

    Please stop making Obama out to be Mr. Goody-two shoes. This man can play dirty politics, with the best of them. Just ask the women, from Chicago, that he totally screwed over to win, or ask the black man from Chicago, that Obama, had all this mans supporters pulled of his list, because their names sounded to much like someone elses. If you think this man is on the up and up, you deserve to have him win, and screw up your lives.

    September 15, 2008 at 4:11 pm |
  4. Jim Dixson

    I'm Canadian. I am happy to see the USA Public have seen the scam the GOP is running. They are hoping you will vote Democrate. They put what should be the worst ticket they had avilable so you would vote Democrate. They know it will take more then 4 years to fix your economy and foreign policys. So they can run a more reasonable thought out ticket in 4 years and point their fingers at the Dem's for mis-management. So vote for McCain/Palin don't get fooled.

    September 15, 2008 at 3:09 pm |
  5. Michelle

    Maybe this will change the tone of the presidential campaign.
    Focus on the issues please. The last couple of weeks have
    been quite silly when it comes to politics. When you cover
    this story on tonight;s please make it informative and not
    mindless talk from people who have no idea how the banking
    system works. We need information not infotainment. Recently,
    I saw an animated short on Current TV called " Subprime Blues ."
    It was one of the best informative pieces I have seen on the subject.

    September 15, 2008 at 1:32 pm |
  6. Rebecca Smith

    I can't believe the people that think Sarah Palin is great. She represents every thing I am against as a free thinking independent woman and nothing I want to be identified with. I am greatly insulted that people think that I would support her because she is a woman. Too bad she was too busy to teach her own 17 year old about planned parenthood. And I just wonder how many other working mothers in Alaska can take their babies to work with them, seems like she was using her position as Mayor and Governor to her own interest. If she does get elected w/McCain may God help us because the soul of the USA will have been given to the Devil!!!

    September 15, 2008 at 1:26 pm |
  7. mary

    I want to know why the media is not showing the Alaskan women demonstrating against Sarah Palin as VP.

    September 15, 2008 at 1:25 pm |
  8. mark hoffman, Phoenix AZ.

    If George Bush fancies himself a "great President that history will vindicate", I have some news for him. History will indeed pass judgement on him and the name that most historians will associate with him and his administration is another Republican who was seen as devout to his religion and was supremely convinced that government free-hands off pure market capitalism was the one and only true path for American society. His name was Herbert Hoover and we all know how well his legacy turned out. Fortunately, we 'economic whiners" have a choice to make in Nov. and if you really want more of the same, you know who to vote for.

    September 15, 2008 at 1:17 pm |
  9. keith

    People who say they were going to vote for McCain and will now vote for Obama instead are lying. All they do is keep giving the dem party line, McCain is another 4 years of Bush. The democrats are no better, I was going to vote for obama until I saw him call Palin a pig. Blah, blah, blah.
    None of the parties are different in what they promise. If you want to see what obama will bring just read up on his plan for us outined in his organization called

    PUBLIC ALLIES

    For more, check out the relationship between Axelrod, Daly & Obama.

    Why has the congress not rid itself of Rep. Charles Rangel, the tax cheat; where is cnn's investigation of this guy?

    September 15, 2008 at 12:48 pm |
  10. Melissa, Los Angeles

    Wall Street's woes are brought on by greedy lenders who gave loans to people who could never afford to pay it back along with greedy real estate agents who didn't care if their client could afford the house or not as long as they all got a big fat commission out of it. The fact that these loans were resold over and over for commissions without any regard as to what these loans were is frightening as well. The homeowners who bought these houses that pushed median home prices here in California up to over half a million dollars are to blame as well. Without having to pay any money down, many of these consumers had nothing to lose and now look at the mess we're in. I don't think it's the government's place to save Wall Street and these consumers from their own stupidity. Let them all fall or they'll never learn.

    September 15, 2008 at 12:27 pm |
  11. Heather

    Im sick of all the political promises that are being made. Our country is in terrible financial shape. No one is talking about the national debt. Obama talks about young people earning their college tuition through community service. Pres Clinton had the same idea when he ran and then got to the White house and found out it cost too much money. All these promises cost money,money we don't have. McCain is clueless on the economy. No one is talking about the real problems and providing real solutions. No one is talking about the fact that the gov keeps three different accounting records.

    September 15, 2008 at 11:44 am |
  12. Wisdom

    Lisa from NC

    LOL... Obama's used attacks and smears against Hillary... the attacks on Palin were relentless...

    At least be honest about both sides being nasty... you can't be that blinded by Obama...

    September 15, 2008 at 11:22 am |
  13. Lilibeth

    Thanks to Gary Tuchman for staying in Texas. I thought his reports last weekend were exceptional.

    Lilibeth
    Edmonds, Washington

    September 15, 2008 at 11:20 am |
  14. Arachnae

    I hope CNN can refrain from phony 'false equivalency' when reporting on campaign 'nastiness'. Is it negative campaigning to call a liar a liar?

    McCain approved an ad that not only lied about a bill to teach kids how to avoid sexual predators but managed to insert sly dogwhistles that subtly insinuate the meme that his opponent is sexually interested in children. The Obama campaign calls him on the lie but not the vile subtext, and now HE's just as bad?

    Or is pointing out someone is surrounded by lobbyists when it's the simple truth the moral equivalent of implying one's opponent is a pedophile?

    September 15, 2008 at 11:14 am |
  15. Lisa from NC

    Yes, things are getting nasty thanks to McCain/Palin. McCain started airing ads that were blatant lies. I think we have learned from the Kerry situation in 2004 that trying to take the "high road" in response to the "Rovian" way of attack advertising doesn't work. If Obama doesn't attack back, he is seen as weak. If he does attack, the McCain crowd cries "fowl". Unfortunately, We learned in 04 that Americans respond to attack advertising....I have no doubt in my mind that Obama is a strong man who will not allow another "swift boating" fiasco. I honestly have been repulsed by McCain's behavior. He has sunk to depths beyond belief. There was a time when I would have considered voting for the McCain of 2000. The McCain of 2008 doesn't even resemble the REAL "Maverick McCain". The 08 McCain seems so desperate to win that he has sacrificed his principles and his honor to pander to the Bush crowd. What does that say about his strength of character? He has been so diminished by Palin. He looks like nothing more than a starry-eyed lovesick schoolboy standing behind her. Ms. Palin, is nothing more that a female George Bush with an updo and expensive glasses. She cares nothing about the people of this country ,and they delude themselves into thinking she is "one of them. She is no more one of them than George Bush was. She and McCain are selling you what you want to hear and will give you more of what you have right now. Are you better off than you were 8 years ago? People better wake up and smell the coffee...that is if they can afford coffee.

    September 15, 2008 at 11:01 am |
  16. Kate

    Truly we need to get back to the issues at hand. The choice of my vote will not be determined on character alone. My choice of MY president will be one who understands that they are holding the highest CIVIL SERVANT position in the nation. We tend to portray the position of President of the United States as someone I am to bow down to. The President of the United States takes this position because he or she wants to serve the PEOPLE of our country, to provide them the best opportunites for a good life within our nation and with our fellow humans on this planet. I want to hear the candidates for PRESIDENT explain how they are going to do this not who can come up wth the best attacks on each other. Anyone can do that, that is not rocket science. If a candidate has something to say about the opponent and disagrees with them on and ISSUE, point out the difference in an intelligent manner, a manner that relfects the character of a human worthly of holding such an office.

    And I for one, am not voting for Palin or Biden. I am voting for the PRESIDENT. McCain knew all along that choosing Palin for his running mate was all about WINNING, not about being President. And if you can tell my by next comment, Obama chose Biden for his foreign policy experience. A very wise choice not only because it strengthens his team but it was about winning the presidency with more a more experienced ticket not because his vp pick was a woman. If he had picked Hillary Clinton, it would have been because he wanted to pick up 18 million votes and just win, not because it was the best ticket for OUR COUNTRY.

    His pick may not win some of the women voters but it was the best for OUR COUNTRY not just to win.

    September 15, 2008 at 10:56 am |
  17. Pattie Garrett

    Re: Tax rates: Many "middle Americans" use Turbo Tax or some similar program to compute taxes because we cannot afford the services of a tax consultant. What would happen if a few of those who earn over $200,000 used that same program and were subject to the same limitations and lack of loopholes....particularly if that experiment was carried out by an unbiased third party? I think most "middle Americans" try to be honest and pay their dues. I'm not so sure about those who can actually afford to do so...and have the greatest impact on our economy. I think this is where the value of Barack Obama's tax reform might be most helpful.

    September 15, 2008 at 10:53 am |
  18. Janey

    This morning, McCain again stated that "...the economy is fundamentally sound...".

    How in the blazes can he make such a statement with a straight face? He obviously has no clue of the majority of American financial woes.

    It is sad that both campaigns have now gone negative but we need to focus on realism here. There is entirely too much at stake here.

    The head of the Government Accounting Office (GAO) has been travelling accross the country warning of the collapse on Wall Street for a while but nobody wanted to listen and there was very little news coverage of it. Anyone who would refer to the American economy as "fundamentally sound" is a bit detached from reality, especially this morning. There are several reasons for this conclusion...a non partisan conclusion...

    1) Housing Market reports
    2) Foreclosures in 2008
    3) Job Loss reports for 2008
    4) 9 banks go "belly up" from 1/1/08 to 9/1/08
    5) Gov't. takeover of Freddie Mack and Fannie Mae
    6) U.S. deficit

    The list goes on...

    I hope and pray that this country is not stupid enough to put another ill prepared person with no realistic idea of what it means to do what is necessary for this country. Pretty and patriotic words do not hold water if the speaker is so blatently unrealistic to what is actually happening in this country.

    I do not believe anyone can subscribe to being a true Patriot if they are so willing to accept the George W. Bush's tax cuts for the 5% wealthiest of America when all that accdomplishes is draining the country's coffers leaving us with less revenue to run the country and putting more of the burden, percentage wise, on the other 95% of us to finance the majority of what America needs to run.

    It only slaps us in the face more when you add in the fact that the wealthiest of us are "tax free" beyond a certain point of income.

    September 15, 2008 at 10:46 am |
  19. TESAP;SAVANNAH, GA

    Who is McCain to chastise someone? I mean come on lets get real. Mccain continues to promote lies in his ads while his VP continues to take credit for things she has not done. Lest not forget that 9/11, the housing crisis and the ever dying fate of Wall Street all happened on the Republicans watch, while McCain has surronded himself with people who say "Americans are in a mental recession"... McCain lets talk about the issues, not lipstick on a pig, falsified praise to your VP choice.... I mean she can see Russia form Alaska.. AND....... People please wake up and smell the coffee...........

    😦

    September 15, 2008 at 10:25 am |
  20. Heather

    My brother had his very first job with Lehman Bros. It's very sad to see a company that has been around over 150 years just go. It's fustrating that these financial institutions fell for the something from nothing mortgage scam. We live in a global economy and these mortgages that were sold as assets to foreign companies is just a nightmare.

    To hear these politiciana say its a political problem is rediculous. Clinton deregulated the the financial institutions, Greenspan encouraged and recommended these mortagage products and then conveniently retired just before it collapsed. Bush has been out of touch not even getting what was going on. You cant get something from nothing. Every one of these banks wanted to make easy money from record low interest rates on mortgages where people had no income to to pay the loan. Its a financial disaster that has affected schools who get paid with the help of property taxes. If something seems to go good to be true it is. I wish Obama and McCain would stop making political comments about this. Its not accurate and they sound and look stupid.

    September 15, 2008 at 10:19 am |
  21. Cindy

    The "nastiness" is getting very ugly in this election. What happened to the idea that they were not going to stoop to this level? I don't know why Obama wants to call McCain sleazy when he is just as bad. Every one of his ads he has out bashing McCain or Palin have been proven to be full of false information and lies. I guess it takes a sleaze to know one! LOL

    I wish that they would get off of all of this name calling and trash talking and get back to the issues that actually matter.

    I've been watching the Lehman Brothers ordeal. Don't tell me it's going to be another one that we are going to have to bail out! When will these companies learn? It seems to me that they are being run by people who have no clue and are just out to make mega bucks for themselves.

    I figured Anderson would be back in NY. I mean they have reported all weekend on Ike. What more can you say? I just hope he's not all water logged from his two hour stint waist deep in the snake, and rat infested water! LOL

    Cindy...Ga.

    September 15, 2008 at 10:19 am |
  22. Ramsi Hashash

    One thing for both political camps, lying at the end will not get you anywhere, or bent the truth, or miss representing the reality etc. Right now it seems that the Mc Cain camp, I am not saying Mc Cain himself, but his campaign team are leading the words of lies especially when it comes to what Palin did or did not do.

    That honestly is very disturbing and if Americans will be able to fact check this, you will soon see Obama overtake Mc Cain and win by 8 to 10 percentage points, I know I am repeating myself.

    Concerning the financial crises, Mc Cain is saying now that Wall Street will be his priority should he become President, how many priorities will he have? If Wall Street will be his priority what does it mean? What will he do? Will he continue Bush's legacy? Right now sad to say the Bush administration again told, behind the curtains, a partnership of a European and a Chinese financial institution that they cannot get their hands on Lehman brothers. The result the Feds accepted Lehman filing for bankruptcy and now the Feds have to bail out the market. Which money are they using, yours the tax payers money. What will you get back from this "investment"? Probably nothing.

    I truly thought this is a free market economy and a capitalistic system, but the reality is that it is so controlled that the big boys do not lose their money, just the small once, meaning you and your neighbor. Who cares who owns which cooperation as along there are rules and regulations which will safeguard the interests of Americans. SO what is the problem if Chinese, Arabs, Africans etc one the major corporations, as long as the US economy can be protected with laws and regulations, there should be no issue.

    But then again Chinese are communists and Arabs or of course enemy number one. America better learn soon or the worse is only to come.

    September 15, 2008 at 10:18 am |
  23. Jim

    I Quit dealing with Bank of America years ago – the Bigger they are the harder they fall. In Fact, I do not have Nor will I have a Credit card , I'm one of the few Americans unaffected by the turmoil on wall street Learning to be content with little & paying my bills on time & not letting my upkeep become my downfall long ago. You say America is in recession- I've been in a Depression for almost 2 years. I Blame BOTH Houses of Congress Not just the President as He is outnumbered some 535 to one- You want to see what a Democrat controlled Congress will do? – just look to California that is predominatly Democrat- I pay $4.10 a gallon for Gas here, Have been unemployed for almost 2 years because of Illegal aileans taking over jobs where A Landscape maintenance person cannot compete. I have no health insurance & I do not go to the Doctor or Dentist- Both Candidates are all talk & NO ACTION as far as I'm concerned.

    September 15, 2008 at 10:15 am |
  24. virginia

    It's sad that we all can't get along. If the canidates would just try, it would be better.

    September 15, 2008 at 10:10 am |
  25. Michelle Fonthill Ont,Canada

    Hi Anderson and staff

    The wekend was sure filled with drama Hurricane Ike leaving a path of distruction in it's wake .My prayers go out to all the familes who lesf homelss and who have no flood insurance or is still waiting to get back home to see the damage

    Thank goodness Anderson is back in New York tonight he did an amzing job out in there .
    Thanks for the buzz
    see you later on 360
    Michelle

    September 15, 2008 at 9:58 am |