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The Honolulu Advertiser
Posted on: Thursday, October 2, 2008

Obama calls for more Wall Street accountability

LA CROSSE, Wis. — Democrat Barack Obama promised yesterday that if he is elected president, "American taxpayers will never again have to put their money on the line to pay for the greed and irresponsibility of Wall Street."

The Illinois senator said increased accountability for Wall Street and Washington must go along with the proposed $700 billion financial industry bailout bill he supported yesterday.

Asserting that the pending rescue bill is not a cure-all, Obama said he's proposed a "financial stability fee" on the financial services industry "so Wall Street foots the bill — not the American taxpayer" in case of losses. He also vowed his administration would "create new rules of the road to prevent another crisis."

Obama, his running mate, Sen. Joseph Biden, and GOP presidential candidate John McCain headed off the campaign trail yesterday afternoon to return to the Senate to vote on the financial rescue legislation.

MEDIA NOT SEXIST, PALIN TELLS CBS

WASHINGTON — Republican vice presidential candidate Sarah Palin said she doesn't believe the media's coverage of her has been sexist.

In remarks aired yesterday on CBS' "The Early Show," Palin said that while she sees some double-standards in media coverage, she believes it's due more to the fact that the Washington press corps are not familiar with her.

"I think more attributable to just the media elite, the Washington elite, not knowing who I am and just asking a whole lot of questions and not so much based on gender though, but based on just the fact that I'm not part of the Washington herd," she told CBS News anchor Katie Couric.

3 CRITICAL STATES NOW FAVOR OBAMA

WASHINGTON — Recently trailing or tied, Democrat Barack Obama now leads Republican John McCain in a trio of the most critical, vote-rich states five weeks before the election, according to presidential poll results released yesterday.

The Quinnipiac University polls show Obama leading McCain in Florida 51 percent to 43 percent, in Ohio 50 percent to 42 percent and in Pennsylvania 54 percent to 39 percent.

Combined, these states offer 68 of the 270 electoral votes needed for victory on Election Day, Nov. 4.

MCCAIN: BAILOUT BILL MUST SUCCEED

INDEPENDENCE, Mo. — Republican John McCain said yesterday the resurrected financial bailout bill isn't perfect but warned that the nation's financial crisis will become a full-fledged disaster if the plan fails.

In an economic speech yesterday at the Truman Library and Museum, McCain said the original proposal that failed in the House was flawed because it did not contain taxpayer protections, limitations on executive compensation and sufficient protections for people's bank accounts.

"I am pleased that these are being added to improve the original bill," he said.

In fact, the bill that failed did contain limits on executive compensation and provisions for taxpayers to recoup some or all of the bill's aid, as both McCain and his Democratic opponent Barack Obama had advocated. The new version contains increased protection for individual bank accounts, again advocated by both presidential candidates. The new bill also adds tax cuts that neither candidate linked to the rescue.

OBAMA SUPPORTED BY BILL CLINTON

ORLANDO, Fla. — Former President Bill Clinton set aside his cool relationship with Barack Obama yesterday to issue a condemnation of Republican economic policies as well as an endorsement of his wife's ex-rival.

For his first campaign trail appearance on Obama's behalf, Clinton chose the swing state of Florida, its 27 electoral votes seen as central to Republican John McCain's hopes for victory.

Clinton talked at length about the nation's problems, particularly the financial crisis, and told a crowd of several thousand that Obama would be better at finding answers.

"Here's why you ought to be for Barack Obama," Clinton said. "He's got better answers. Better answers for the economy, for energy, for healthcare, for education. He knows what it will take to get this country back on track."