AC360 Senior Producer
Last night we reported on a dramatic meeting between leaders of the Bush Administration, Congress, the Federal Reserve and Treasury. They met on Capitol Hill to find a solution to the financial turmoil we have seen all week, which will take hundreds of billions of dollars to succeed. We are hearing some news of this plan taking shape this morning. We have reported on an emergency order to temporally ban short-selling of financial stocks, and the Treasury Dept announced it will provide temporary guarantees for the nation’s money market mutual funds. We can expect more news like this to trickle in throughout today as the nation’s top political and economic leaders converge to solidify a rescue plan which will stabilize the financial system.
These Wall Street woes have dominated the candidates’ focus all week. Obama and Mccain have each been trying to present himself as the candidate capable of fixing this current crisis. In truth, neither one is in a position to actually do anything about it here and now, (beyond their role as Senators) but the key is to sound and seem like the one who is Mr. Fix-It while implying the other guy is incapable.
The Mccain campaign has added what it calls a ‘detailed’ economic speech this morning before the Chamber of Commerce in Green Bay. Obama will be at an added meeting with his team of economic advisors, followed by an Obama statement at 11am. Dana Bash and Suzanne Malveaux will bring us reports from both campaigns tonight.
Of course it’s not just the Presidents-to-be throwing insults at each other, the Veeps have jumped in too. Sarah Palin went after Joe Biden yday over taxes for the wealthy. Biden had said that Americans making over $250,000 and paying higher taxes would be “patriotic”. Palin responded at a rally “to the rest of America, that’s not patriotism. Raising taxes is about killings jobs and hurting small businesses.
Just think, we still have 46 days to go. Interestingly in our CNN Poll of Polls for the second straight day, Obama is still in the lead, now 3 points over Mccain. It’s still too close to call but perhaps a sign that the initial Palin-mania is leveling. Meanwhile we have more state polls later on today from tight Midwest battlegrounds so we’ll be offering them to you tonight.
That’s where we start this morning, and ps: the first Presidential Debate is a week from tonight. See u at 10pmET
Filed under: The Buzz
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