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McCain Palin accuses Obama of "doing nothing" in financial crisis.


WASHINGTON--With the retooled "change is coming slogan," John McCain accuses Barack Obama of not producing a plan to solve the economic crisis, triggered by the collapse of the mortgage market.

From the McCain campaign...

For Immediate Release

Contact: Press Office

Tuesday, September 23, 2008

ARLINGTON, VA -- Today, McCain-Palin 2008 released its latest television ad, entitled "Mum." The ad highlights that while John McCain was outlining an economic recovery plan, Barack Obama was staying "mum" -- refusing to outline a solution, take a position on bailouts and even criticizing his running-mate for having a position. The ad will be televised nationally.


Script For "Mum" (TV :30)

ANNCR: In crisis, experience matters.

McCain and his Congressional allies led.

Tough rules on Wall Street.

Stop CEO rip-offs.

Protect your savings and pensions.

Obama and his liberal allies? Mum on the market crisis.

Because no one knows what to do.

More taxes.

No leadership.

A risk your family can't afford.

JOHN MCCAIN: I'm John McCain and I approve this message.

AD FACTS: Script For "Mum" (TV :30)

ANNCR: In crisis, experience matters. McCain and his Congressional allies led. Tough rules on Wall Street. Stop CEO rip-offs. Protect your savings and pensions.

· On Friday, John McCain Outlined A Detailed Economic Recovery Plan That Called For Tougher Rules On Wall Street, Including The Creation Of The Mortgage And Financial Institutions Trust. MCCAIN: "First, to deal with the immediate crisis, I will lead in the creation of the Mortgage and Financial Institutions trust -- the MFI. The underlying principle of the MFI or any approach considered by Congress should be to keep people in their homes and safe guard the life savings of all Americans by protecting our financial system and capital markets. This trust will work with the private sector and regulators to identify institutions that are weak and fix them before they become insolvent. The MFI is an early intervention program to help financial institutions avoid bankruptcy, expensive bailouts and damage to their customers. This will get the Treasury and other financial regulatory authorities in a proactive position instead of reacting in a cri sis mode to one situation after another." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: "Reforms To Prevent Financial Firms From Concealing Their Bad Practices." MCCAIN: "Second, I will propose and sign into law reforms to prevent financial firms from concealing their bad practices. An inexcusable lack of financial transparency allowed Wall Street firms to engage in reckless behavior that padded their profits and fattened executive bonuses when times were good, but now imperil the financial security of millions of Americans when their bets turned sour." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: Bring "Regulatory Clarity" To The Financial Markets. MCCAIN: "Third, we need regulatory clarity. The lack of transparency in our financial markets went unnoticed by the regulatory agencies scattered throughout Washington charged with protecting the common good. We've got the SEC, the FDIC, the CFTC, the SIPC, the OCC, the Fed. At best, this confusing assortment of regulators and institutions was egregiously lax in carrying out their responsibilities. At worst, they engaged in the old Washington game of guarding their bureaucratic turf, instead of safeguarding the public interest and protecting investors." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: Protect Consumers And Investors. MCCAIN: "Fourth, we must ensure that consumers and investors are protected. Our regulatory system must protect consumers and investors by punishing individuals who engage in fraud, break contracts, or lie to customers -- like the predatory lenders who know you can't afford an adjustable rate mortgage, but mislead you into signing one. These actions are criminal and the people who commit them should be behind bars." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: "The Consequences For Corporate Abuse Will Not Be More Enrichments." MCCAIN: "And corporate governance rules will be reformed so that shareholders have a clear say in determining the pay of CEOs and other senior executives. On my watch, the consequences for corporate abuse will not be more enrichment, but more likely an indictment." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: "The Treasury Department Will Follow Consistent Policies In Deciding Whether To Guarantee Loans." MCCAIN: "Fifth, in cases where failing companies seek taxpayer bailouts, the Treasury Department will follow consistent policies in deciding whether to guarantee loans. It must have well developed remedies for a financial crisis. With billions of dollars in public money at stake, it will not do to keep making it up as we go along." (John McCain, Remarks, Green Bay, WI, 9/19/08)

· McCain: "The Federal Reserve Should Get Back To Its Core Business." MCCAIN: "Finally, the Federal Reserve should get back to its core business of responsibly managing our money supply and inflation. It needs to get out of the business of bailouts. The Fed needs to return to protecting the purchasing power of the dollar. A strong dollar will reduce energy and food prices. It will stimulate sustainable economic growth and get this economy moving again." (John McCain, Remarks, Green Bay, WI, 9/19/08)

ANNCR: Obama and his liberal allies? Mum on the market crisis.

· The Washington Times: "Obama Mum On Market Crisis." "Democratic presidential nominee Sen. Barack Obama opted Friday not to divulge details of his recovery plan for the financial crisis after a morning meeting with his top economic advisers -- fearing it would stir Wall Street jitters." (S.A. Miller, "Obama Mum On Market Crisis," The Washington Times, 9/20/08)

· Fox News: "On The Biggest Financial Issue of The Day, Barack Obama Would Not Say If He Supported Or Opposed The Government-Backed Rescue Of Insurance Giant AIG." FOX NEWS' MAJOR GARRETT: "On the biggest financial issue of the day, Barack Obama would not say if he supported or opposed the government-backed rescue of insurance giant AIG." BARACK OBAMA: "We don't know all the details of the arrangement with AIG and the Federal Reserve must ensure that plans protect the families that count on insurance." GARRETT: "Obama also wants taxpayers protected but executives and shareholders exposed but on the central question to intervene or not, Obama sidestepped. Advisers said lack of details forced caution. The larger political truth: advisors believe anxiety alone is enough to lift Obama in the polls. That is why on the trail, Obama doesn't talk about specifics of the moment but the nation's overall direction." (Fox News' "The Spec ial Report," 9/17/08)

· MSNBC: Barack Obama's "Statements About The Bailout Have Not Included An Explicit Message Of Support (Or Disapproval) For The Government's Decision." "Obama told the Espanola crowd McCain's claim that he lacked a position on the AIG bailout was false -- though his statements about the bailout have not included an explicit message of support (or disapproval) for the government's decision to rescue the firm." (Athena Jones, "More Obama Economics Proposals," MSNBC's "First Read,", Posted 9/18/08)

ANNCR: Because no one knows what to do.

· Senate Majority Leader Harry Reid (D-NV): "No One Knows What To Do." "The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way. Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments -- Sept. 26 for the House of Representatives, a week later for the Senate. While they haven't ruled out returning after the Nov. 4 elections, they would rather wait until next year unless Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke, who are leading efforts to contain the crisis, call for help. One reason, Senate Majority Leader Harry Reid said yesterday, is that 'no one knows what to do' at the moment." (Kristin Jensen, "Democratic Congress May Adjourn, Leave Crisis To Fed, Treasury," Bloomberg, 9/18/08)

ANNCR: More taxes. No leadership. A risk your family can't afford. JOHN MCCAIN: I'm John McCain and I approve this message.

· Barack Obama Has Called For Higher Income Taxes, Social Security Taxes, Capital Gains And Dividend Taxes, And Corporate Taxes, As Well As "Massive New Domestic Spending." "Obama's transformation, if you go by his campaign so far, would mean higher income taxes, higher Social Security taxes, higher investment taxes, higher corporate taxes, massive new domestic spending, and a healthcare plan that perhaps could be the next step to a full-scale, single-payer system. Is that what most Americans want, someone who will fulfill a Democratic policy wish list?" (James Pethokoukis, "Barack Hussein Reagan? Ronald Wilson Obama?" U.S. News & World Report's "Capital Commerce" Blog,, 2/12/08)

· Barack Obama Would Raise Income Taxes. Obama: "[I] would roll back the Bush tax cuts for those making over $250,000." (Sen. Barack Obama, CNN Democrat Presidential Candidate Debate, Manchester, NH, 6/3/07)

· Barack Obama Would Raise Capital Gains And Dividend Taxes. "Sen. Obama wants to raise the long-term capital-gains rate for families making more than $250,000 to around 20 percent or somewhat higher but not above the 28 percent level it reached during the Reagan presidency, an Obama economic adviser says. The same rate would apply to most dividend income for these investors." (Tom Herman, "Tax Report Your Tax Bill: How McCain, Obama Differ," The Associated Press, 6/18/08)

· Barack Obama Would Raise Social Security (Payroll) Taxes. "Obama's proposal ... would impose social security taxes on income above $250,000 per year. He would continue to exempt income between $102,000 and $250,000 from social security taxes." (Teddy Davis, Sunlen Miller, and Gregory Wallace, "Obama Kisses Billions Goodbye," ABC News' "Political Radar" Blog,, 6/18/08)

· Barack Obama Has Called For A Tax On Oil. Obama: "I think it is appropriate for us to impose a windfall profits tax on our oil companies." (Sen. Barack Obama, Remarks At A Campaign Event, Charlotte, NC, 5/2/08)

· Barack Obama Has Called For A Tax On Coal And Natural Gas. Obama: "What we ought to tax is dirty energy, like coal and, to a lesser extent, natural gas." ("Q&A With Sen. Barack Obama," San Antonio Express-News, 2/19/08)

· "Obama's Votes Indicate A Willingness To Raise Taxes." "Certainly Obama's votes indicate a willingness to raise taxes, and Obama has not been shy about saying explicitly that he will raise some taxes." ("The $32,000 Question,",, 7/8/08)




McCain has wrapped himself in a veil of distortion. The McCain of 2000 that many admired is deceased and reborn is the McCain of 2008 who is a puppet of the Rove team of dirty politics. They picked Palin for him and made a mockery of this election. McCain is struggling to appear on the side of the people. His record demonstrates that he is not. He supports permanent tax cuts for the extremely wealthy, tax cuts for major corporations even when they ship jobs overseas, and further tax payer support of Big Oil in a era of record oil profits. His latter-day populism is as cynical as his choice of Sarah Palin who can't see Wall St. from Alaska. McCain is running hard from his 26 year legislative legacy, his anti-oversight financial guru, Phil Gramm and from his total acceptance of Bushonomics over the past eight years. His message changes daily. How can anyone have confidence in his ad hoc policies? The vast majority of criticism of Obama is mindless hate speech. These are the people from whom McCain draws his most fervent support. Doesn't that say it all?

Lies are the tool of the Devil, if you lie you are apart of that tool. Use facts, here are mine. Please watch as Obama outlines his position.

I really don't know much about the man (obama) and neither does America. He basically came from out of nowhere and as the facts come out little by little, they don't make a particularly confident picture.

After his wife's remark about not being proud of this country and his pastor's statements callingAmerica the U.S.K.K.K.A. And his own statement about not wanting his daughter punished with a baby, it makes me wonder what kind of a man Obama really is and what kind of a president he'd make.

I have a great fear that if our military gets broken by another President, this time we're not going to have time to fix it again and what that spells for America, I don't even want to contemplate.

Listen up stop blabbing stupid remarks and check your facts, obama was the number two taker of money from fannie mae, his buddy Chris Dodd and barnie frank, buddiesssss i should say ran them into the ground, some guy named raines got big bonuses when they recorded a profit on just buying bad loans, again buddies of obamas and democrats, check it out, yeah there are republicans i would expect no less but the TRUTH is the democrats took more and did more damage than anyone else and you kook aid drinkers elect this hack you damn this country, hillary was the best and you messed it up.

Check out the facts, dont just listen to obama check em out, he is an idiot, took a teleprompter to a rodeo, he stuttured for one interview and nobody called him on it, he is a joke. Check the facts, the democrats are up to their necks in making fannie mae and freddie mack give loans to those who could not afford it back in clintons day all the way up to obamas crap. geesh

McCain thinks that calling for the firing of Cox, and his parroting of Obama''s plan is being proactive.

With international confidence hanging on a thread last week, both candidates should have had the restraint with their objections and allow Bernanke and Paulson to come out with ONE VOICE from America. Barack Obama, despite having long proposed a plan to avoid this crisis and take us out through commonsense regulation, kept mum so that Paulson and Bernanke could assuage frayed nerves internationally. On the side you have McCain mouthing off, creating all sorts of distractions and problems for the administration. What John McCain did not understand about his actions was that if confidence continued to spiral as a result of his impulsive words, the 700 billion bailout package would not even be enough to solve the problem. it''s a good thing he now finally recognizes the wisdom of Obama''s economic philosophy, but his pattern of being Johnny come lately on a range of issues that have been the hallmarks of Obama''s campaign is showing. What's even more troubling is that McCain''s impulsive and unpresidential behavior at a time of national crisis raises questions about his commitment to national interest above his own political gain. So he put the country at risk last week to score political points last week with his nonsense, and now is trying to make Obama look bad for doing the right thing? ABSURD.

So McCain and Palin are doing what to solve the economic problems? Barack Obama laid out a fairly detailed plan on C-SPAN to regain control of this financial mess. One element of the plan was to reinstitute regulatory control and oversight. McCain, Gramm and the Republicans have fought for deregulation for years. Here in Montana the Republicans dereguated electricity and now we pay 2-3 times more than before. Gee thanks. People who say we know nothing about Obama are either coming out of a coma or crawling out from under a rock.


First, Phil, when you write in all caps, it feels like you're yelling at all of us. I agree with most of what you say but no one likes to be yelled at!

Reading through these blogs gives me more concern than ever. We are a nation divided and we have been since before George W stole the first term in office. How can we come together? Is it going to be another election where we don't know who our President is until months after the election?

Here are the questions I would like Senator McCain and Gov Palin to answer ..... How can you say you're for change when you both support the way it's been done for the past 8 years? How can you support "abstinence" only education when you have a pregnant teenager (didn't seem to work did it). How can you say you're a feminist when you want to take away the most basic right of a woman, control of her own body. No one is PRO ABORTION, it's an awful choice for anyone to make. No one should have the right to make that choice for anyone but themselves.

Regardless of what people say about Obama's lack of experience, Palin has even less and with a 'good old boy' in the President's office, she may well be our President I'll take Obama's vision, leadership and experience in "Community Orginization" (like that's a dirty word?) and cast my vote for the candidate and the party that can put us back on the right track.


McCain is making an ass out of himself - Palin was the first step, and playing politics with the current financial situation is the second. He's looking pretty desperate.

The so-called financial crisis is essentially an armed mugging. "You are about to be shot. Give us your money and we won't shoot you."
The corporatists have total control of the situation and are playing the American citizen ignoramuses for fools.

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on September 23, 2008 8:38 AM.

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