Editor's note: Last night on AC360° we looked at how Senators Barack Obama and John McCain are responding to the crisis on Wall Street. Here is an excerpt of that discussion with David Gergen, an AC360° Contributor and Senior Political Analyst.
Anderson Cooper: David Gergen, there is a new phase [in the election cycle]. How do you see this playing out the last couple of days?
David Gergen: Overall, Anderson, neither candidate has demonstrated a mastery of this economic situation and the financial markets. Neither has offered a clear plan for going forward, neither has really shown an urgency about it. I think you have to say Barack Obama has gained from this more than John McCain has.
First of all, Obama can blame it on the Bush administration. Secondly, he is making a forceful argument against the folks in charge. That helps him, in the critique, I think it is helping him.
John McCain today coming out with Sarah Palin, that is interesting, it does seem in the light of what has happened yesterday, the whole town hall clips we saw, doesn't that seem like yesterday? So from my point of view, I think, the momentum for John McCain and Sarah Palin has stalled out. There is a little momentum on Barack Obama's part. He hasn't yet fully seized it and it is still very close. John McCain could still take it away from him.
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