Sunday, September 21, 2008

OBAMA EASES IN TO CRASH DEBATE

Reuters - Democratic presidential candidate Barack Obama on Sunday called the $700 billion price tag for a financial market bailout "staggering" and said the final product must protect U.S. taxpayers and include a commitment to new regulatory reforms. . .

Obama said any final package must ensure that taxpayers and homeowners were protected. He said it should include a global response and a commitment to broad regulatory reforms that would prevent another crisis.

Aides to Obama said he had spoken to Treasury Secretary Henry Paulson on Saturday and to congressional leaders including House Speaker Nancy Pelosi of California and Senate Democratic leader Harry Reid of Nevada, as well as New York Sen. Hillary Clinton and former President Bill Clinton over the weekend. . .

In Charlotte, Obama attacked McCain again for favoring privatization of Social Security and a more open-market approach on health care. "He calls himself 'fundamentally a deregulator,' when reckless deregulation and lack of oversight is a big part of the problem," the Illinois senator said. "And here's the really scary part. Now this 'Great Deregulator' wants to turn his attention to health care.". . .

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