A blog written by Manchester College students studying the 2008 presidential campaign.

Thursday, September 18, 2008

Obama, McCain Duel Over Market Turmoil

This past Tuesday, both candidates once again addressed the issue of the struggling economy. On this day, McCain proposed to create a commission to probe the financial market crisis. However, Obama put down this proposal as an "attempt to pass the buck." However, the accusations did not end there. The Obama campaign used a comment from one of McCain's top economic advisers, in which she said that neither McCain nor Palin is qualified to lead a large corporation. The Republicans later responded by criticizing Obama for flying to Beverly Hills to attend two big fundraisers, including one featuring Barbra Streisand.
In reference back to the two's debate over the struggling economy, McCain stated that he feels that a panel similar to the one that was setup to investigate the September 11th terrorist attacks was needed. In his speech he said, “We need a 9/11 commission," “We need a commission to figure out what went wrong and how to fix it and I know we can do that and I'll do it.” Hours later, Obama responded with a plan of his own. He outlined a six-point plan, to tighten government regulation of financial institutions. “This was not the invisible hand of the market at work,” Obama said, “These cycles of bubble and bust were symptoms of the ideology that my opponent is running to continue. John McCain has spent decades in Washington supporting financial institutions instead of their customers.” Once again, the candidates seem to be on totally different sides of the playing field on these major issues, often times not talking as much about the issues, as discussing either what their opponent has done wrong in the past regarding these issues, or criticizing their future plans to fix the problem.
On a final and much more positive note, both candidates advocated more "transparency" within the government and also anti-manipulation measures. It is refreshing to on occasion at least, to see the candidates find some common ground on an issue.

http://www.politico.com/news/stories/0908/13517_Page2.html

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