This Morning On The Stephanie Miller Show

Investors grew nervous yesterday about an amorphous government plan to buy $700 billion in banks’ mortgage debt. Stocks fell sharply, taking the Dow Jones down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel.

Barack Obama yesterday sided with Congressional Democrats, who say a government bailout of the financial sector must include government oversight. John McCain said yesterday that the government’s proposal puts too much power in the hands of Treasury Secretary Henry Paulson.

Key Congressional Dems and Bush administration officials agreed yesterday to include mortgage help for beleaguered homeowners as a part of the $700 billion bailout of failing financial firms, but wrangled over other issues including “golden parachutes” for executives who benefit from the rescue.

A new CNN poll shows that 47% of Americans blame the GOP for the current financial crisis, while only 24 percent say the Dems are more responsible. That may be contributing to better poll numbers for Barack Obama over McCain in the race for the white house.

With the presidential campaign locked in a near dead heat, both Barack Obama and John McCain are carefully preparing for their first presidential debate on Friday, focusing on foreign policy and national security issues.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: