Summary

NAME: US CANDIDATES 20080921I TAPE: EF08/0962 IN_TIME: 10:06:16:04 DURATION: 00:02:06:11 SOURCES: ABC DATELINE: Various - 21 Sept 2008 RESTRICTIONS: No Access NAmerica/Internet SHOTLIST: Charlotte, 21 September 2008 1 Wide of Democratic Presidential Candidate Barack Obama shaking hands with supporters 2 SOUNDBITE: (English) Barack Obama, Democratic Presidential Candidate: The era of greed and irresponsibility on Wall Street and in Washington has led us to a perilous moment They said they wanted to let the market run free but instead they let it run wild and now we're facing a financial crisis as profound as any that we've seen since the Great Depression 3 Cutaway of crowd 4 SOUNDBITE: (English) Barack Obama, Democratic Presidential Candidate: I know we can steer ourselves out of this crisis This isn't the time for fear, it's not the time for panic; it's the time for resolve and it's the time for leadership We can steer our way out of this crisis because that's who we are and that's what we've always done as Americans Orlando, 21 September 2008 5 Wide of stage at Republican Vice Presidential Candidate, Sarah Palin, rally 6 SOUNDBITE: (English) Sarah Palin, Republican Vice Presidential Candidate: The first thing John McCain is going to do is get our economy back on track I know you've been watching the news lately It's, like a lot of Americans feeling today, you all too People in Florida are, and should be, outraged Huge financial institutions going under because of their own bad practices, and now asking the public to bail them out Federal agencies aren't defending the public interest and we've got some reckless CEOs (Chief Executive Officers) that are walking off with multi-million dollar golden parachutes These problems started with corruption and manipulation in the whole mortgage system Now, two years ago there was one man who stood up and warned us about the problems at Fannie May and Freddie Mac, it was John McCain 7 Wide of Palin family on stage STORYLINE: US Presidential Candidates Barack Obama and John McCain have both given grudging support to the Bush administration's 700 (bn) billion US dollar bad debt bailout proposal However, Democrats said that the administration's spare three-page plan must be expanded to include help for everyday Americans as well as the big Wall Street financial firms who have lost billions of dollars through their bad investment decisions Speaking at a campaign rally in Charlotte, North Carolina on Sunday, Democratic candidate Barack Obama remained optimistic about resolving the growing economic crisis I know we can steer ourselves out of this crisis, said Obama This isn't the time for fear, it's not the time for panic; it's the time for resolve and it's the time for leadership, he added But Obama blamed the Bush administration's lack of market regulation for the recent economic slow-down The era of greed and irresponsibility on Wall Street and in Washington has led us to a perilous moment, said Obama Meanwhile at a campaign rally in Orlando, Florida, Republican Vice-presidential Nominee Sarah Palin pointed her finger at the private sector, accusing financial institutions of mismanagement and corruption Huge financial institutions going under because of their own bad practices, and now asking the public to bail them out, said Palin Federal agencies aren't defending the public interest and we've got some reckless CEOs that are walking off with multi-million dollar golden parachutes, she added She said told supporters: the first thing John McCain is going to do is get our economy back on track The Bush administration insisted on Sunday that Congress must move quickly to approve what one lawmaker called the mother of all bailouts, a US dollar 700 (bn) billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation's credit markets Treasury Secretary Henry Paulson stressed that time was critical to get the proposal passed and that changes to the administration's measure, which was sent to lawmakers on Saturday, could delay that approval, further unsettling global financial markets In the past two weeks, the government has taken over the country's two biggest mortgage companies, Fannie Mae and Freddie Mac, and its biggest insurance company, American International Group Inc, and stood by while the nation's fourth-largest investment bank, Lehman Brothers, was forced to declare bankruptcy and another investment giant, Merrill Lynch, was forced to sell itself to Bank of America