Saturday, November 1, 2008

Morning News

by Kevin Flynn - Sunday September 28 2008 09:29:26 AM

From the Associated Press:

Democrat presidential nominee Barack Obama says he is inclined to support a proposed $700 billion bailout of Wall Street being negotiated by lawmakers.

Obama says a tentative agreement reached early Sunday includes several principles he proposed, including increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.

Obama says he is unhappy about the agreement, but says it is necessary.

Obama said he is inclined to support the bailout plan because he believes Main Street is now at stake.

From the News & Observer:

Fresh from the first presidential debate since the primaries, Democrat Barack Obama said Saturday that his Republican rival, John McCain, is not clued in to the economic struggles of average Americans.

"Through 90 minutes of debate, John McCain had a lot to say about me, but he didn't have anything to say about you," Obama told a sprawling crowd in downtown Greensboro that police estimated at 20,000.

"He didn't even say the words, 'middle class,' " Obama said. "He didn't even say the words 'working people.'''

Obama, the Illinois senator, along with his vice presidential running mate, Joe Biden, sought repeatedly to tie McCain to the policies of President Bush on both the economy and the war in Iraq.

....This was the fourth general election appearance by Obama in North Carolina, where he continues to draw immense crowds not seen here since the 1980 campaign of Ronald Reagan. It was Biden's second visit. By comparison, McCain and his running mate, Sarah Palin, have yet to campaign here, and McCain officials could not say when they might.

...Some in the crowd had traveled substantial distances to see Obama.

Among them was Joan McNamara, an elderly retired schoolteacher from New Bern, who left her house at 4 a.m. to attend the noontime rally.

"I don't think he [McCain] would raise his finger if I was sick," said McNamara. "He [Obama] is a people person. He wants to do things for people."

Biden, the Delaware senator, questioned McCain's wisdom on foreign affairs, leading the crowd on a "John McCain is wrong" mantra. He said McCain was wrong about the people of Iraq viewing Americans as liberators, wrong about the presence of weapons of mass destruction, and wrong that Afghanistan had been pacified

"At this point we need more than a brave soldier," Biden said, referring to McCain. "We need a wise leader."

Obama spent most of his time talking about the financial crisis, which he said was caused by "greed and irresponsibility" on Wall Street and in Washington.

He tied McCain to the sort of deregulation that contributed to Wall Street's problems. And he derided McCain's claim that he would take on special interests.

"He says he'll take on the corporate lobbyists, but he put seven of the biggest lobbyists in Washington in charge of his campaign," Obama said.

From the Richmond Times-Dispatch:

Appearing at the University of Mary Washington and fresh off the first presidential debate, Obama scolded Sen. John McCain, charging that the Republican presidential nominee failed to acknowledge the economic challenges facing the middle class.

"On issue after issue . . . you heard John McCain make the case for the same policies that got us into this mess," the Illinois senator said, referring to the collapse of the financial markets.

Obama said the nation is in a "time of great uncertainty, a defining moment in the era of greed and irresponsibility on Wall Street and in Washington that has led us to the most serious economic crisis since the Great Depression."

Jay Snipes, chief of the university's Police Department, estimated that 26,000 people descended on the university for the rally at Ball Circle, a grassy stretch at the center of the campus. Snipes, in an e-mail to the Obama campaign, estimated that 12,000 people crowded into Ball Circle, and an additional 14,000 clustered outside the perimeter of the rally.

Obama, who spoke for about 30 minutes, pointed to McCain's statement to voters in Jacksonville, Fla., on Sept. 15 that "the fundamentals of our economy are strong."

...McCain "didn't just make a mistake," Obama said yesterday. "He revealed an out-of-touch philosophy."

...Thousands turned out hours ahead of the rally for a glimpse at the Democratic ticket.

...Obama ended his remarks by taking a page from his own background in Chicago. He said that if the rally's attendees pitch in, make calls and do "some community organizing," he and Biden can win Virginia and the White House.

From Reuters:

Democrat Barack Obama accused John McCain on Saturday of playing politics with the financial crisis...

...Fresh from their first presidential debate, where the two White House hopefuls clashed sharply on spending and foreign policy, Obama hit the campaign trail and McCain sped to the capital where some Democrats have expressed fear he might upset delicate bailout negotiations.

..."George Bush has dug us into a deep hole. John McCain was carrying the shovel. It's going to take time to dig ourselves out," Obama said to a rally attended by about 20,000 people.

"You see, I think Senator McCain just doesn't get it -- he doesn't get that this crisis on Wall Street ... hit Main Street long ago," Obama said. "That's why he's been shifting positions these last two weeks, looking for a photo-op, and trying to figure out what to say and what to do," he said.

...In between his campaigning, Obama spoke by phone about the financial rescue with Treasury Secretary Henry Paulson and top Democratic lawmakers.

...Several have said they were frustrated with Thursday's theatrics when McCain rushed to Capitol Hill and then with Obama attended a White House meeting which ended in acrimony.

"The further presidential politics stays from these negotiations, the better off we'll be and the quicker we can come to a solution," said Sen. Charles Schumer, New York Democrat who chairs the Joint Economic Committee.

...The next scheduled debate is on Thursday between the vice presidential candidates, Republican Gov. Sarah Palin of Alaska, and Democratic Sen. Joe Biden of Delaware.

From the Detroit Free Press:

U.S. Sen. Hillary Clinton said Saturday that President George W. Bush has had "the worst presidency in the history of the Unites States" and gave a spirited pitch for Democratic presidential nominee Barack Obama, saying he would produce and protect jobs in Michigan.

Speaking to a crowd of about 1,800 at a park along the Grand River, Clinton said Obama would produce and protect Michigan jobs by changing "the way we do business here and around the world."

The state has much at stake in efforts to prevent more bank failures, credit straits and job loss in the financial market tumbles, she said in the first of three mid-Michigan appearances Saturday. She blamed Republicans and free-market ideologues for the crisis gripping the nation.

"This means even more that we must have change. We cannot turn over our country, with our deep deficits, these serious economic problems, the international challenges, to the same team that got us into this mess in the first place," she said.

Clinton acknowledged the warm autumn day, in contrast to Washington, D.C., where she voted Saturday morning on a stopgap measure as negotiations for a U.S. bailout of Wall Street continued.

...Clinton noted the presidential debate Friday night, and said, "I'm campaigning as hard as I can to make sure" Obama "is the next president, and I'm sure last night a lot of Americans saw why."

In one of several pointed jabs at McCain, Clinton said his proposal for a market-based national health care system "would work as well as what we've seen on Wall Street. A lot of people would get rich, while a lot of others would be left holding the bag."

The difference, she said, is that lack of health care would jeopardize people's health or their lives if the system failed.

From the Sun Sentinel:

In Florida alone, about 600,000 blacks haven't registered to vote, Michelle Obama told a rally Saturday.

She and Jill Biden capped a two-week voter registration drive that included stops at several schools on the Florida A & M campus.

"We've seen young people finding their voices and casting their votes for the first time," Obama said. "And not-so-young people who haven't felt this way about an election in years."

..."Every day, every hour, every second counts," Obama said. "We're down to 39 days before folks go down to the polling place to make this choice."

Obama said the issues at stake — such as the Iraq war, financial crisis and health-care system — were personal for people, not just political.

"That's why we're all so pumped up and fired up and ready to go," Obama said. "This is personal, and I know everyone here feels how personal this is. We're feeling it every day, all of us."

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