September 16th, 2008
09:00 AM ET
10 years ago

Wall Street turmoil puts Democrats back on offense

Sen. Barack Obama has tough words for Sen. John McCain during a stop Monday in Pueblo, Colorado.

Sen. Barack Obama has tough words for Sen. John McCain during a stop Monday in Pueblo, Colorado.

WASHINGTON (CNN) - Ever since Sen. John McCain picked Alaska Gov. Sarah Palin for his running mate more than two weeks ago, the Republicans have dominated the headlines.

But as the recent failures of major investment banks on Wall Street remind voters of troubles facing the economy, the Democratic ticket of Sens. Barack Obama and Joe Biden has been able to get back on offense.

"We have reached another major turning point in the campaign. John McCain had all the momentum coming out of his convention with Sarah Palin and dominated the news, [and] was on offense right to the end of this last week," said David Gergen, a CNN senior political analyst. "And there is the opportunity for Obama to seize the momentum back on his side. I don't know if he's going to do it or not. He is trying."

The McCain campaign is not ceding the mantle of change to Democrats, however. It is portraying the Arizona Republican as the best candidate to shake up the Washington bureaucracy that allowed the financial crisis to occur.

Full story

Filed under: Candidate Barack Obama • John McCain
soundoff (172 Responses)
  1. REG in AZ

    The Republicans can’t solve the problems when they simply are the problem. And McCain-Palin’s desperate lying can’t change that but rather just further proves the point; if you can’t trust what they say, how can you ever trust they would change anything? Some may prefer that it would be different but the reality is that the only chance for any real change, which would sincerely benefit the majority of Americans, is with Obama-Biden!

    September 16, 2008 12:30 pm at 12:30 pm |
  2. vperry

    I am scared that Obama is a fascist.

    September 16, 2008 12:31 pm at 12:31 pm |
  3. Ex-mod-GOP for Obama

    John McCain has had his chance. He's lost it, along with my respect. Barack Obama for America.

    September 16, 2008 12:31 pm at 12:31 pm |
  4. Shari, NY

    If Sen. McCain confidently said that the economic was sound in one breath and contradict himself in another, I am not confident in him.

    September 16, 2008 12:34 pm at 12:34 pm |

    Go get them OBAMA!!!!!!!!!
    The TRUTH WILL SET US FREE!!!!!!!!

    Gomab for OBAMA/BIDEN 2008

    September 16, 2008 12:35 pm at 12:35 pm |
  6. Eric

    Obama needs to stay on offense, and not just attack offense. Stick to the issues and campaign on "real" change. Don't let them get the spotlight back and don't sink down to their level. McCain will start getting so negative he will bury himself, and as soon as Palin starts getting questioned by the media we'll see what she's really made of. Stay on target Obama.

    September 16, 2008 12:35 pm at 12:35 pm |
  7. Paul, NY

    Students will rise up for Obama in November!
    Just wait and see... We arent included in ANY polls, and we are being totally understimated!! Which is GREAT!!

    STUDENTS FOR OBAMA!!!- Because America is OUR future!!

    September 16, 2008 12:36 pm at 12:36 pm |
  8. Silence Dogood

    So how about the BiG LOBBY money Obama gets from Wall Street, Oil and other corporations?

    I know he says it is not lobby money but that is a lie of course. A "suit" lie, as in they are not technically listed as a lobby blah blah blah. Dude, we can all see you...... even if you hide behind a smile.

    Fight corporate politicians like Obama – vote Green Party!

    September 16, 2008 12:36 pm at 12:36 pm |
  9. Open Your 3rd Eye

    McPlain Camp plan:

    Make up another lie.

    September 16, 2008 12:37 pm at 12:37 pm |
  10. Go Sarah

    Repeat after me folks…. good morning Vice-President Sarah…

    ah, what a sweet sound …. maybe Obama should relocate to europe

    September 16, 2008 12:39 pm at 12:39 pm |
  11. Andy - Atlanta, GA

    Who in their right minds would FUND A MENTAL campaign like McCains???

    September 16, 2008 12:40 pm at 12:40 pm |
  12. proud army and navy mom

    Besides Keating 5, Mcsenile has been involved in lots of shady deals. He has no honor or decency.

    McCain helped a wealthy and generous donor buy land from the Army — complete with special water rights — for a quarter of a million dollars, which McCain’s buddy then sold two years later for $20 million. There’s a term for this — it’s called “influence peddling,” and it’s exactly the kind of thing McCain swears he never gets involved with.

    September 16, 2008 12:40 pm at 12:40 pm |

    D E M O C R A T S---H A V E-H AD--A ---M AJ O R I TY-–F O R-

    T H E --P A S T--T W O--Y E A R S-–H O L D--T H EM --–

    A C C O U N T A BL E-–F O R--–W A L L---S T R E E T-–M E S S

    September 16, 2008 12:40 pm at 12:40 pm |
  14. Lone Star Wolf

    This is a useless story from a useless pack of Do nothing Democrats. They have been in control of the house and congress for the past two years. WHAT THE H...!!! HAVE THEY DONE TO CORRECT THIS CALAMITY.


    September 16, 2008 12:41 pm at 12:41 pm |
  15. EBC

    HOW MUCH do you wanna bet the Republicans are going to DO WHAT THEY DO BEST...which is BLAME EVERYONE ELSE, BUT THEM!!

    John McCain is going to come out and BLAME everyone else for our economic DISASTER!

    Blame everyone...i.e., Wall Street, Sen. Obama, Lehman Brother, Merrlll Lynch, AIG, .....Santa Claus, the Tooth Fairy, etc.

    It's NEVER FAILS that John McCain and the Republican Party once again NEVER MAN UP in the ROLE they played in both the Mortgage and Wall Street crisis. They continue to lay blame on everyone else but the PARTY who has been in control for the last 8 YEARS!!!

    It's just LIKE the Republicans to BLAME THE AMERICAN PEOPLE for their ignorance in allowing these BIG Financial Institutions to run AMUCK for the last 8 years!!! The Bush Administration ALLOWED these mortgage and financial GIANTS to "CHEAT" the American People out of their HARD EARN pension plans, investments, retirement savings, etc.!!

    THIS IS NOTHING BUT A DISGRACE, coming from John McCain whose been in Washington for 28+ years and NEVER once voiced his objections to Bush's failed policies.

    NOT ONCE did John McCain ever voiced his OBJECTIONS to these BIG FAT CATS in the Financial Institutions when he ran for President back in 2004 and while in the Senate 28+ years?

    NOT ONCE did John McCain ever voice that he was going to "reform" the WALL STREET Industry!!

    NOT ONCE did John McCain ever voice his objections on the GOLDEN PARACHUTES these CEOs are getting while the American Voters are left "holding the bag" of NO pensions, NO retirement savings, No 401Ks!!

    NOT ONCE did John McCain ever voice his objections when families across this country losing their homes!!!

    NOW all of a sudden he's out stumping and doing nothing but pointing his finger and blaming everyone ELSE but him and his party.

    Unbelievable!! This is truly the POT calling the "Kettle Black"....

    September 16, 2008 12:42 pm at 12:42 pm |
  16. WhoIsPalin?

    MSM it's the ECONOMY STUPID! and not non-issues like Lipstick on Pigs or McCain Imposed House Hall meetings. Can't wait for the debates. Obama America will be proud to have you as next POTUS. Go Biden give 'em hell!

    September 16, 2008 12:43 pm at 12:43 pm |
  17. A concerned voter

    It could be a long-term effect, from the big government policy, from the Clinton's administration, the same thing as the 9/11 attack in New York not long after after Bill Clinton left office.

    September 16, 2008 12:43 pm at 12:43 pm |
  18. Corey, DC

    Interesting to see how Sen. Obama will play this, though, as the days move on... His economic message is that he is not a Wall Street puppet, as the Republicans are painted to be, so how can he effectively use a Wall Street crisis to really direct an economic message? If the story stays "Wall Street" and not "economy" more generally, I don't think it provides much help to Sen. Obama.

    September 16, 2008 12:43 pm at 12:43 pm |
  19. larry buchas

    Republicans always create a black hole with the federal deficit. But now they have added the worse trade deficits of our lifetime.

    We're in a credit crunch, jobs washed overseas, home values plummeting, unemployment rising, technology stagnated.

    The only rise in America is its religious extremists. Sarah Palin confirms it. We need Obama to bridge many gaps. Otherwise, we're headed toward WWIII.

    September 16, 2008 12:43 pm at 12:43 pm |
  20. Jillian, NY

    Pay no attention to the economic crisis behing the curtain.

    Obama/Biden 08

    September 16, 2008 12:44 pm at 12:44 pm |
  21. Frank

    Democrats have been talking, talking, and talking and doing nothing! Just like their candidate, Nobama!

    September 16, 2008 12:45 pm at 12:45 pm |
  22. Former McCain

    It was McCain's lies, stealing, and polarizing divisiveness that caused many Americans to challenge his position, even from me as a former supporter.

    His misperception of the fundamentals of the economy are somehow strong only exasperated the issue on the same day Wall Street had the worst loss since 9/11. McCain unfortunately seems out of touch now. Voting Obama this year.

    September 16, 2008 12:45 pm at 12:45 pm |
  23. Anonymous

    McCain's senior domestice policy advisor on the economy:

    Addressing the nation’s economic crisis, Holtz-Eakin told reporters traveling with the campaign “there’s no magic solution. And I don’t think that it’s at this moment imperative to write down exactly what the plan has to be.” He also said a president isn’t someone who needs to be heavily involved in policy specifics, which should be handled by “quality” advisers,

    By far, the most important and frightening statement made this political season.

    They have no plan, and the president is not heavily involved in policy specifics... Sound like anyone we know?

    September 16, 2008 12:46 pm at 12:46 pm |
  24. Open Your 3rd Eye






    September 16, 2008 12:46 pm at 12:46 pm |
  25. Donna

    Sure the DEMOCRATIC CONGRESS has been in office since think these financial nightmares started last year??are you all that DUMB??? these "GIANTS" started having trouble YEARS AGO and the REPUBLICAN CONGRESS/PRESIDENT did nothing to stop the foundation from coming apart....

    Get real...

    September 16, 2008 12:47 pm at 12:47 pm |
1 2 3 4 5 6 7