opinion
Despite differing reactions, solutions 'vaguely similar'
New York Times Sep 25, 08 2:31 PM CDT
(Newser)
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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."
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UPDATED
Dodd touts 'fundamental agreement' ahead of meeting with Bush
CQPolitics Sep 25, 08 12:57 PM CDT
(Newser)
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The bipartisan group of legislators working on either a Wall Street bailout or a rescue package has reached "a fundamental agreement on a set of principles," Senate Banking Committee Chris Dodd said today. Racing to make a deal before a scheduled 4pm meeting at the White House, the lawmakers were optimistic the measure had enough support to satisfy both houses of Congress and President Bush, CQ Politics reports.
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Hopefuls headed to DC today to discuss 'flawed' $700B rescue
CNN Sep 25, 08 7:56 AM CDT
(Newser)
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Both presidential candidates will meet with George W. Bush for talks on the proposed $700 billion bailout of financial firms today, CNN reports. John McCain and Barack Obama released a joint statement on the financial crisis last night, agreeing that the plan was flawed but that "the effort to protect the American economy must not fail."
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CNN Sep 24, 08 8:21 PM CDT
(Newser)
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President Bush took to the prime-time airwaves tonight to warn that "our entire economy is in danger" and to push his administration's $700 billion plan to rescue it, CNN reports. "These are not normal circumstances," said Bush in explaining the need for sweeping government intervention. He said he understood Americans' reluctance to bail out the "excesses" of Wall Street but warned of a "long and painful recession" and "financial panic" if authorities take no action.
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Paulson bows to pressure from lawmakers opposed to bailout paydays for CEOs
Associated Press Sep 24, 08 3:40 PM CDT
(AP)
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The White House bowed on a crucial change in the $700 billion bailout today ahead of a speech tonight in which President Bush hopes to pull loudly resistant lawmakers on board. Republican officials said Henry Paulson agreed to demands from critics in both parties to limit the “golden parachute” money for executives whose companies could benefit from the proposed bailout.
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Republican says he's leaving the campaign trail to work on bailout
Associated Press Sep 24, 08 2:47 PM CDT
(AP)
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John McCain says he's directing his staff to work with Barack Obama's campaign and the debate commission to delay Friday's debate because of the economic crisis. In a statement today, McCain says he will stop campaigning after addressing Bill Clinton's Global Initiative session tomorrow and return to Washington to focus on the nation's financial problems.
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MOVIE PREVIEW
Portrait of the president is for the 60% of folks with an 'open mind'
USA Today Sep 24, 08 1:19 PM CDT
(Newser)
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Oliver Stone is looking to attract the political center with his new movie, W. , about the life our 43rd president, USA Today reports. The film, a satirical biopic starring Josh Brolin as George W. Bush, is neither hagiography or damning indictment. “I'm not interested in that radical 15% that hate Bush or the 15% to 20% who love Bush,” Stone said.
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UPDATED
President aims to give lawmakers push on $700B plan, garner support
CNNMoney Sep 24, 08 12:14 PM CDT
(Newser)
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President Bush will address the nation tonight on the proposed $700 billion Wall Street bailout, CNN reports, in hopes a televised speech could sway reticent lawmakers into quick action. The 9pm EDT speech will come after a second day of Treasury chief Henry Paulson and Federal Reserve chair Ben Bernanke explaining the plan to Congress.
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OPINION
Time for innovative policy proposals, not rote party positions
Washington Post Sep 24, 08 12:02 PM CDT
(Newser)
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In facing an extraordinary economic crisis, the presidential nominees are falling back on party orthodoxy instead of staking out bold new positions, Michael Gerson writes with regret in the Washington Post. Both candidates, earlier in the campaign, proved they are capable of provocative ideas, but now they're singing the old standards: Barack Obama wants to redistribute wealth despite the clearly deepening recession; John McCain wants to slash taxes despite the ballooning deficit.
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OPINION
'Financial 9/11' calls for nation-building—at home, says Friedman
New York Times Sep 24, 08 8:57 AM CDT
(Newser)
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As America faces "a financial 9/11," what does the $1 trillion bailout mean for the country's other huge expense—the war in Iraq? Thomas L. Friedman plays ventriloquist in the New York Times , imagining President Bush telling Iraqi leaders that "you are now going to have to step up and finish this job" as the US will "turn inward to get our house back in order."
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Ahmadinejad, speaking at UN, vows to resists 'bullying powers'
Reuters Sep 23, 08 5:12 PM CDT
(Newser)
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Iranian President Mahmoud Ahmadinejad said today that the days of America asserting its influence over the world are numbered, Reuters reports. At the UN, Ahmadinejad blamed a "few bullying powers" for the world's troubles and for trying to rein in his nation's peaceful nuclear ambitions. Ahmadinejad, who earlier made a thumbs-down gesture during President Bush’s address, criticized the wars in Iraq and Afghanistan and said the US was being manipulated by "Zionist powers."
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Multinational bodies key against extremists, president tells General Assembly
Associated Press Sep 23, 08 12:43 PM CDT
(AP)
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President Bush, who once expressed disdain for the United Nations, said today that multinational organizations are now "needed more urgently than ever" to combat extremists threatening world order. In his eighth and final speech to the General Assembly, Bush said the international community must stand firm against North Korea and Iran’s nuclear ambitions and must unite to help Iraq’s struggling democracy succeed.
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