AC360 Senior Producer
We are waking up to financial developments and keeping a close eye on markets again today. Last night we reported that AIG, the nation’s largest insurance company on shaky ground, is getting a fed bailout because the alternative would be…? Well, eek let’s not go there. But what will today bring?
The candidates’ politicking has been heavily influenced by news from Wall Street, both Barack Obama and John Mccain seizing on the opportunity to pound each other’s economic plans. John Mccain and Sarah Palin (can we call them ‘MccPalin’- has a ring to it, don’t you think?) on the trail in Ohio together yday, w/Palin claiming Obama’s tax plans would kill jobs and make even today’s bad economy look like the good old days. Obama jumped on opportunity to show Mccain as out of touch, hitting Mccain’s call for a commission to investigate what went wrong on Wall St saying ‘This isn’t 9/11. We know how we got into this mess. Now we need leadership that gets us out.” And both candidates are after that working class vote, where this election will be decided.
Obama spent last night within the glitz of Beverly Hills with stars where he raked in serious dough. Mccain didn’t waste time noting that Obama talks about siding with people but flies off to Hollywood for a fundraiser with celebrity friends. Obama quickly reminding people that Mccain was also visiting deep-pocketed friends earlier in the week in Florida and raking in money himself. Everyone needs all the campaign cash they can get their hands on with 48 days to go till Election Day.
Tonight Candy Crowley will follow Obama as he holds 2 rallies in Nevada. Dana Bash is covering Mccain/Palin as they hold their 1st joint town hall in the battleground state of Michigan at 7pmET. Now this will be interesting, real questions from real people. We’ll see how Sarah Palin performs in this environment.
John King is in Florida where he will report on our latest Battleground State polls, Florida, North Carolina, Ohio, Indiana and Wisconsin.
Randi Kaye is in Alaska reporting on a sports complex project that Sarah Palin undertook as mayor in Wasilla, where locals played hockey, soccer, and basketball. The catch is that the city began building infrastructure for the project before it had unchallenged rights to the land it would be built on, which ultimately left the city in debt after all the legal wrangling was said and done.
It's going to be an interesting day, see you at 10pET.
Filed under: The Buzz
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Well, here we go again, giving WELFARE TO THE RICH CORP ECT!
A Commission in the middle of a crises is a DUMB, DUMB, DUMB idea!!!!
This is a time for immediate action to stop the bleeding... besides we already know what happened...
Phil Gramm (McSame's economic advisor) and his cronies wrote and initiated legislatures to further deregulate the mortgage and financial institutions... hence greed and profit soared... leaving the American people holding the bag...
I guess just spending money on a group of people to find out what we already know is what Cindy calls success. What did we gain from the Greenspan Commission? It's 24 yrs later?
Obama doesn't agree with commissions........McCain called it a 9/11 commission..........they give it to the commission and it dies right there. If the Dems wouldn't of fought for social security or medicaid we would never have had the programs at all. The GOP doesn't care about the people. This past week Greenspan said McCain's economic plan would be a failure........Why on earth would we want to elect a President that came right out and told us he knows nothing about the economy and he ranked at the bottom of his class in school? Now that Wall street has been rocked maybe people will wake up from whatever fantasy they are caought up in when they think the GOP ticket is good.
More news about Palin and how she has disregarded the law and the people in Alaska, as Mayor she builds a sports arena on property that does not belong to the City, has this women done anything in Alaska that has not been challenged. Now the McCain Camp is saying she will not testfy if called to do so. I don't understand how the republican party thinks it can get away with this stuff, the law is the law, If there is and investigation you can not be above the law, no mater if you are Mayor, Govenor, or Vice President Elect.
I believe Obama is right we do not need another commision, and it was stated last night that this is and on going problem one that will take leadership in the White House. I'm not sure we want someone that believes the fundamentals of our economy are strong one day and the next were bailing out the biggest Insurance company in the world, not to mention all the other problems in this broken economy. McCain doesn't seem to have an understanding of that, but a guy that owns 9 houses probably would not.
Yes Cindy, Obama has no such clue that McSame is running ads using Obama's words offering "Change". Now why is McSame using Obama's slogan of change....hmmmm.
Joe Biden is more qualified to be President than Obama. Is Palin more qualified to be President than McCain. Which candidate was really saying Country First?
As a moderate Republican, I agree with McCain that some regulation is necessary to oversee the financial markets. The real estate subprime mess could have been avoided if the Federal Reserves during Greenspan's watch monitored the loose underwriting lending guidelines of financial institutions. All of a sudden, anyone who has a "Pulse" can get a home loan!
Anyway, with this housing crisis, I think that both Obama and McCain should consider giving "temporary" tax reliefs to homeowners. If we can bail out the big institutions, why not give the individual tax payer who suffered a loss in the sale of their primary home the ability to write off this loss with "Ordinary Income". Uncle Sam "unilaterally" taxes you on the gain on sale of your home but does not allow you to write off the loss on the sale of your home with any capital gains. The real relief is allowing taxpayers to offset their home sale loss with ordinary income (the average taxpayer does not really have capital gains). Thanks for looking into this.
Obama is correct. McCain does not have an original thought of his own. He is simply a Bush clone. He sounded like an idiot yesterday suggesting that he would put together a commission to investigate? He is simply REACTIVE when he thinks that he can pick up a few votes, and does not have any original PROACTIVE ideas about any of the real issues. It will be fun to watch McCain try to struggle through the debate next week.
Oh Grow-Up Cindy! This is not about jealousy. Look at the 9/11 commission report – despite ALL the recommendations suggested, how many of those recommendations have actually been implemented over the last 7 years, and are we really any safer then we were 7 years ago, despite having had not attacks since?
Enough is enough is enough. McCain keeps saying Obama is going to 'raise your taxes'. I can only assume he is talking exclusively to those making over $250k per year. I am not one of those and neither are most people. The plans are out there for all to review. Every time McCain says that, the media should bring out the numbers. That is your job. It is very important that people know this. Our futures depend on it. I am sick to death of the rich getting richer while the rest of us get flushed down the toilet. You take away ones hope and dignity and see how hard they work for you then.
Will you all be doing anything on stories developing about
GOP voter suppression moves in key states like Michigan?
Also some ballots being sent out but the GOP in Ohio or
the story about Jewish voters receiving deceitful polling.
I am lost – where did their money go? How did they get to this point? and have any of the companies "bailed" out by us the government ever paid these monies back. I wish someone would explain in a simple manner how when and why this is happening to these million dollar companies. If it is because of foreclosures – didnt the government help people in stopping these foreclosures..(backing up Fannie and Freddie) .I am not the most savy when it come to economics but something doesnt add up. I surely would like to see some forensic accounting of these companies before we use our tax dollars to help out these private companies.
Anderson: Does McCain Know that Rim, the provider of Blackbery, is a Canadian Company?
I am looking forward to seeing the townhall meeting. I wish Barack Obama would participate in townhall meetings as McCain requested. I think we the people (the ordinary people) should have the opportunity to ask some questions and get some answers. If you have answers why would you not be willing to stand toe to toe and give them? Anyone with some speaking ability can give a prepared speech...I want to see who has the ability to think and talk without a prepared speech. I want some answers before I have to vote. I am ready for the negatives to stop. Tell me what you will do and how you will do it. We have a lot of rhetoric going around but most Americans who are really interested in the welfare of our country are looking at these campaigns and saying, "Where's the beef?"
Good Morning Anderson and staff
The whole world's economy is falling apart and these candiadtes are hob-nobbing with celebrities for finanical contributions.TYhey do need the cash for thier campaigns but what about the working class people who are srtuggling to make ends meet when are they going to fix thier problems.Please continue to keep these candiates honest and investigate from every angle it's so important for this upcoming election
Thanks for the buzz
see you on 360
Hello Penny and Anderson,
I just came across a chain e-mail that I received titled: "Palin Family Photos." I may be late, but has anyone else received these photos? Have you seen these?
I must say that I agree with John McCain. I think we should have an investigation on this meltdown. It's too easy to blame President Bush. I don't think we can really reform anything, until we know every detail and look into every nook and cranny. Only then can we know what crept into our economy and who and why it was allowed. Just my opinion.
Lorie Ann, Buellton, Calif.
I want to encourage you to keep at demanding and exposing truth.
As for me, I believe that as verifiable facts are reported, rock star Sara Palin will be exposed as one of the most dangerous national leaders that could possibly happen to this country. And senator Obama's camp will get back to factual discussion of the issues instead of joining in the truth stretching.
The truth, these days, is sensational enough.
It seems the republicans have the same old mindset when it comes to handling disasters. For McCain to even suggest setting up a 9/11 commission to look into the problem of these large financial corporations failing is the same as saying we'll deal with it later because later is when the commission will actually come up with a reason for these corporations going under. It's ridiculous! How anyone could even possibly vote for this man must be insane. He has no plan. He knows nothing of the economy. His best resort is to seek advice from a man who says the economy is fine and America is a nation of whiners. People should be insulted! Barack has stepped to the forefront of this issue and laid out what should be done. The best McCain could do was to suggest that a commission be created and talk about limited regulations when limited regulations have caused these companies to run a mock.
Can someone please explain how this all works ?
I am hearing terms like the Fed Reserve auctioning.
What does that mean? How did we get to this point ?
Are banks not loaning other banks money ? Is there
anyone that can explain the domino effect cause by
the subprime mortgage crisis got us to this point ?
I feel like I need the Sesame Street explainer to break
things down to make sense of this all. I am not an
economics major or a MBA'er.
I think both candidates should read Prof. Joseph E. Stiglitz comments on how to prevent next Wall street crisis.
They have now more drilling from congress but OIL IS GOING UP?????
Obama needs to think before he speaks, once again his mouth was shot off without knowing the facts. Has he never heard of the Greenspan commission? If it were not for it our social security and medicaid would have totally went under in 1983. But a commission was set up and it was turned around. Granted it still isn't the best but it is still going. Without that commission we would have none!
Obama has no clue what he is talking about. Commissions do work! He is just jealous because McCain thought of it and he didn't. If McCain wouldn't have suggested it you better bet your bottom dollar that he would have, well after his advisers told him about it! Because it's very obvious he has no clue!
On Palin's sports arena – I thought you had to have clear title to land before you can build on it. If they built while the title was contested then they were dumb. McCain talks about how great Palin is but every time I hear of something she has done or started it has an "except" after it. She evidently has done some things right because she is popular in Alaska – maybe you all can tell us about some success stories while she was mayor and governor?
On their economic plans why don't they get some real economists to review them and say what each will do and won't do. Then maybe they can each fine tune their plans so both have a workable plan for the country. I guess this would make too much sense to do though.
Looking forward to tonight's show!