Wall street is now fully in the thrall of a September shiver. In the election, the economy is the new cold front, traditionally favoured ground for the Democrats. The latest polls have put Barack Obama slightly ahead again, but it is spot the difference between him and John McCain as they lash out at big business excess.
McCain bashed the bosses.
“While employees, shareholders, and other victims are left with nothing but trouble and debt, the people that helped cause the collapse make off with tens of millions in severance packages. Disgraceful,” he said.
Obama accused McCain of being a recent convert to regulation, given his voting record in Congress, and he said the Fed has to do more or a bigger crisis will hit.
“The Federal Reserve has to ensure that the plan protects the families that count on insurance,” he said. “It should bolster our economy’s ability to create good-paying jobs and help working Americans pay their bills and save their money. What we must not do is to bail out the shareholders and the management of AIG.”
Obama also mocked McCain’s promise to challenge the old boy network in Washington.
“The old boy network? In the McCain campaign that’s called a staff meeting,” he said in one of his more effective recent jabs to the McCain jaw.
Presidential candidates score points off Wall St.