Obama Says Economic Crisis Is A Good Test For Candidates

(CBS)

From CBS News' Maria Gavrilovic:

(RENO, NEV.) - According to Barack Obama, the financial meltdown has been helpful to his presidential campaign as well as the election.

"Frankly whenever we talk about issues in this campaign, we have the better argument," Obama told CBS News' Chip Reid.

He added, "I mean, there was a time pretty recently when we were talking about lipstick and pigs."

Obama said the heavy focus on the economy has been a good test for both himself and John McCain as to how they would deal with a crisis.

"What I hope I've done is to show some steadiness, some clarity in terms of what I think is important."

He also argued that he's dealt with the crisis without "histrionics or a lot of grandstanding." But when asked if he is suggesting that John McCain has engaged in histrionics, Obama replied, "All I'm saying is that it's amazing what you can get done when you're not worried about getting the credit or being on TV."

Obama predicted that the economic recovery plan will be passed by this weekend.

[bob4usa]

If congress really wants to solve the financial crisis they need to do Twelve things:

1. Restore the Glass-Steagall Act.
This act separated investment and commercial banking activities, which prohibited comingling of funds between banks, Wall-Street Stocks and Commodities.

2. Eliminate Derivatives.

3. Eliminate Hedge Funds.

4. Restore bank regulations or make new bank regulations.

5. Restore Wall-Street regulations and make new regulations for Wall-Street.

6. Eliminate Supply Side Economics or Trickle Down Economics.

7. Adopt and use Nash Equilibrium Economics.

8. Eliminate Free Trade.

9. Restore and create Fair Trade.

10. Eliminate the Patriot Acts 1 & 2

11. Restore the entire United States of America%u2019s Constitution .

12. DO NOT Give Wall-Street and Banks 700 Billion dollars!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[ok4obama]

It''s actually a clever way to say your working hard (and to take credit for it) without grandstanding.
Hmm...I bet he''s not going to suspend his campaign to show leadership!!

[veteran22]

Neither candidate is showing any leadership here -- we need to explore other solutions, not just hand over our cash. If we follow the money, we will find that the financial industry has contributed heavily to all the law makers. We, the public, have very few people looking out for us. Will either one of these candidates step up and be the one -- or will they just follow blindly behind that lying Bush. Nobody has even clearly researched the scope of the problem. We need economists and attorneys who represent our interests. Did they just pull this figure out of the air? We need leadership and answers as well as a solution.

[zenesis]

This is a bunch of garble, why are you argueing over obama and Mccain, the issue is the economy is faltering and needs to be dealt with. Both canidites are using this to help their own standards. Neither canidite can do anything right now but give people empty promises. Checks that will never have VALUE.

[obamabiden]

In a few weeks we will make a choice that will decide our future. I follow an economist named Bob Proctor who has called the top and bottom of every market crash since the 70s correctly. He perfectly predicted the current real estate market meltdown, and the picture he paints about what will happen in the next couple years is terrifying. He thinks it could get worse then the great depression. Country wide the largest mortgage bank in the world Bear Stearns, Lehman brothers, and Merrill Lynch which are 3 out of the top 5 Wall Street firms, and now Fanny and Freddy which hold 50 percent of the home loans in the United States. The government took them over because they are essentially bankrupt. Lehman, Merrill Lynch, and Bear Sterns have survived for over 150 years. Bush just like McCain doesn''''t understand the economy, thats not just my opinion it''s his own words. The people that make up these securities use complex math models very few people understand. They are basically bundles of thousand of loans some good and some bad that are then given rules based on complex math. MSN money, Elliot wave and, Bloomberg have many articles. So why are the poll''s even close? The chairman of McCain''s campaign recently said that people don''''t vote on issues they vote on a personality composite, he is trying to sell personality instead of results. Lets teach him we are smarter then that and elect the ticket that can bring us back from the brink of a economic abyss. obama08

[mjthere]

to OneAmerican 6 who posted:
Yes. Steadiness, and the clarity to the American people that Obama has NO IDEA what he is doing.

When in doubt, Obama just says he agrees with John McCain.
YOU DESERVE MCCAIN/PALIN PLEASE VOTE FOR THEM. NOT ME