Paulson: In '08 Crisis, John McCain Had No Plan

Despite differing reactions, solutions 'vaguely similar'

(NEWSER) - The financial crisis is turning the presidential campaign into a “Goldilocks story," Gail Collins writes in the New York Times. McCain, “desperately reinventing his position every day,” has halted his campaign to focus on Wall Street, while Obama has coolly mentioned he may skip out on the rescue bill vote. Yet, so far, their solutions are “both vaguely similar and similarly vague." More»

Obama could keep Treasury chief; weak-on-economy McCain seen to have few options

(NEWSER) - Henry Paulson’s handling of Wall Street’s financial crisis has consolidated so much power for the Treasury secretary that Barack Obama is considering keeping him on board if he wins the November election, the New York Times reports—and it’s heightened speculation about who might succeed him in a new administration. While Obama has several likely candidates, John McCain’s options look limited. More»

Not since FDR has a transition been this urgent

(NEWSER) - America hasn’t been this eager for the new president to take over since FDR ousted Herbert Hoover, write John Brinsley and Edwin Chen for Bloomberg. Then, as now, an economic crisis heightened the urgency for a fast, smooth transition. And while Roosevelt rejected Hoover’s offers to work together on a rescue plan, there are signs that this year’s president-elect will work with Bush. More»

McCain looks to big names; Obama seeks to sooth markets

(NEWSER) - The post of Treasury secretary may be the most important appointment the next president has to make and John McCain and Barack Obama seem to be using different criteria, Bloomberg reports. McCain has mentioned big names like billionaire investor Warren Buffett and former eBay CEO Meg Whitman, while insiders say Obama's shortlist will be topped by market-reassuring names like New York Fed chief Tim Geithman. More»

Obama strategist calls claim "little bit of fiction"

(NEWSER) - Both Barack Obama and John McCain claimed credit on the Sunday talk shows for ushering through the bipartisan bailout plan, Politico reports. The highlights:

• “What Senator McCain was able to do was to help bring all the parties to the table, including the House Republicans,” GOP strategist Steve Schmidt said on Meet the Press.