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Obama and McCain address financial crisis

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Obama and McCain address financial crisis


As the world waits warily for Wall Street to open to a new, still uncertain, week, the presidential candidates in the United States are, predictably, focussing their campaigning on the financial crisis.

For the Democrats it is a handy battering ram. Barack Obama is laying the blame for the present economic woes squarely at the door of the Republicans. He has called on America’s unnerved voters to put their trust in him to find a solution.

“The era of greed and irresponsibility on Wall Street and in Washington has led us to a perilous moment. The circumstances we face require decisive action because your job, your savings, your economic security, your house are now at risk,” Obama told his supporters.

John McCain is pointing out that Obama has offered nothing concrete, whereas he has already voiced his opposition to the debt mop-up plan, and put forward ideas of his own.

“I proposed a plan for comprehensive reform with the broken institutions that allowed this crisis to become a grave threat to our economy. Senator Obama has declined to put forth a plan of his own. In a time of crisis when leadership is needed, Senator Obama has simply not provided it,” said McCain.

The Obama camp says it is reserving judgement while the US government’s proposal for a 480 billion euro bail out of the financial market, by the US Treasury, is still being discussed with Congress.

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