Posted on 09/22/2008 6:19:18 PM PDT by Diana in Wisconsin
Green Bay, WI - Deriding opponent John McCain as a late convert to regulating Wall Street, Barack Obama used his speech here Monday to try to burnish his own reform credentials, vowing that as president he would attack abusive practices in Washington, from no-bid contracts to revolving-door lobbying.
"The era of greed and irresponsibility on Wall Street and in Washington has led us to a perilous moment," the Illinois Democrat told a crowd of several thousand at the Resch Center.
"They said they wanted to let the market run free, but instead they let it run wild," said Obama, presumably referring to opponents of regulation in the other party.
Obama's speech came as the Bush administration presses Congress for quick approval of a $700 billion plan to shore up the financial sector.
But Obama addressed that plan in only general terms.
"We cannot give a blank check to Washington with no oversight and accountability, when no oversight and accountability is what got us into this mess in the first place," said Obama, who added that any bailout plan must give "hard-working Americans relief instead of using taxpayer dollars to reward CEOs on Wall Street."
The Bush administration's negotiations with Congress over the crisis pose major political challenges to both Obama and McCain, who have acknowledged the need for swift and dramatic action, but who don't want to support a perceived rescue of financial fat cats who helped create the mess.
McCain said Monday the government plan's lack of oversight made him "deeply uncomfortable." Obama said nothing that direct here.
While his campaign billed it as a major speech involving the crisis, Obama's address was an effort to package a broad range of reforms, some old, some new, many not directly related to the problems on Wall Street.
Obama portrayed himself as a fiscal hawk, vowing as president to go after wasteful practices and overspending, major themes of McCain.
Among the new promises Obama floated Monday: a 10% reduction in federal spending on contractors. That item was included in a long list the campaign released of political, governmental and financial reforms, aimed at everything from the influence of lobbyists to closed-door legislating to earmark abuse.
The Green Bay rally was staged in the same venue where McCain and running mate Sarah Palin spoke four days earlier, and was one of Obama's final campaign events before he hunkers down in Florida to prepare for the first presidential debate on Friday.
The candidate's wife, Michelle Obama, campaigned separately in Milwaukee, Madison and Wausau Monday before attending a fund-raiser in Fox Point. Running mate Joe Biden was expected to travel to Wisconsin later this week.
The Green Bay visits by McCain and Obama in the midst of the financial turmoil underscored the importance of both the state and this area. Eight years ago, Green Bay ranked sixth in the nation in the number of presidential ads aired. Four years ago, it ranked eighth. And in the first week after the two conventions this year, viewers here saw more presidential ads than all but five other TV markets in the country.
Those numbers, courtesy of the Wisconsin Advertising Project, reflect Green Bay's status as a key battleground market that is rich in swing voters (and has relatively affordable ad rates).
In a GOP conference call after Obama's visit to Green Bay, Republican National Committee chairman Mike Duncan accused Obama of dodging specifics about how he would deal with the financial crisis, and said McCain had far more credibility on political and spending reform.
On the same call, McCain campaign adviser Nancy Pfotenhauer said Obama's vows about cracking down on waste were at odds with his support in the Senate for bloated spending bills and his requests for earmarked appropriations for his home state of Illinois.
Pfotenhauer said McCain was a leader and a "risk-taker" while Obama is the "mouse that roars. He hasn't done anything. He just has a megaphone in front of him."
Just as the McCain campaign accused Obama of posturing as a fiscal hawk, Obama accused McCain Monday of having "an election-time conversion" about supporting financial regulations and running as a change agent for Washington.
"After twenty-six years of being part of this Washington culture, all that (McCain) has changed is his slogan for the fall campaign," said Obama.
Both candidates have attacked each other over the business and political associations of their supporters and staff - attacks that have intensified with a Wall Street collapse that has focused the race much more on which candidate represents change and reform.
In his speech, Obama promised to push for more openness in the legislative process, for ending the "revolving door" between government and the lobbying world and for curbing the trading of favors.
He contended that billions of dollars could be saved by eliminating corporate subsidies, cracking down in areas like Medicare fraud, ending no-bid contracts and using the government instead of private companies to handle college loans.
"I am not a Democrat who believes that we can or should defend every government program just because it's there," said Obama. "As president, I will go through the entire federal budget, page by page, line by line, and I will eliminate the programs that don't work and aren't needed."
As for the financial crisis, Obama reiterated a series of standards he said should be met, including stepped up government oversight, streamlined regulatory agencies, a crackdown on "trading activity that crosses the line to market manipulation," and drawing on financial experts to identify risks to the financial system.
The Resch Center, which can hold more than 11,000 people, appeared to be about two-thirds full for Obama's speech.
Some of those in attendance complained about a rush to rescue irresponsible companies.
"I think they dug their own hole. They need to pay the consequences," said Fredrick Johnson, who owns and manages group homes for the disabled in Winnebago County. Johnson, who has typically voted Republican but says he's undecided this time, said any bailout should come with restrictions on CEO salaries and other strings attached.
Terry Doyle, a real estate agent in Neenah, said he didn't want to see the candidates in a race to stake out political ground on the bailout.
"The real danger is in the fact they feel pressured to develop something to solve it within 48 hours for the consumption of the electorate," said Doyle. "It's not the kind of problem that lends itself to that."
In other news...Sarah Palin drew 60,000 in FL. When McCain/Palin were here in WI last week, they drew tens of thousands and most of them stood out in a parking lot to watch their speeches on big-screen TVs!
We are SO going to win Wisconsin. I don't care WHAT the MSM tries to cram down my throat, in my ears and up my nose in the next 45 days.
Wa-Hoo!
Kids, this is going to be a landslide! Well, if not an actual landslide, then a major mudslide that pushes Hollywood Hills homes into the ocean and STILL gets the job done, LOL!
Read. Between. The. Lines. People are coming out for McCain/Palin. They don't come out for The Obamas.
Yep, he will bring change that we don’t want.
Folks in Washington are talking about not giving New York a blank check, while others are talking about not giving Washington a blank check.
I for one want to know who the hell is getting this blank check, since my generation and I will have to pay for it over and over and over again.
Barry is so lame, Democrats have never cut anything except for the Military.
Promises of miracles, the messiah has spoken. ;-)
“Reform”, higher taxes, jihad, Communism, Socialism, Marxism, etc. All kinds of good stuff.
I’m beginning to think that Obama has no clue abut what has happened? It was because banks were forced to give loans to people who wouldn’t otherwise qualify then when they all defaulted now we have this. How is that greed on Wall Street? More like Washington passing laws that sounded good with consequenses!
Why in the world would anyone want someone at the helm during “perilous economic times” whose primary job experience is that of a “community organizer?”
This guy’s never run an organization (other than a “vote for me” organization). He’s never had to meet a payroll. He’s never created anything. He’s never added value. His lifelong advisors are communists, socialists, and crony capitalists with a history of bad decision making and poor economic judgment. They’re the sort that helped screw up Wall Street in the first place.
It’s like saying, “Hey, I don’t have a clue, but I’m gonna do something. Vote for me.”
When the guy proclaimed the solution to high gas prices was proper tire inflation, he should have been laughed into the dustbin of Democrat footnotes.
On second thought, maybe he was. Maybe that’s where he found Biden.
Piker. I took your little “test.” LOL!
Overall: 100% Conservative, 0% Liberal
Social Issues: 100% Conservative, 0% Liberal
Personal Responsibility: 100% Conservative, 0% Liberal
Fiscal Issues: 100% Conservative, 0% Liberal
Ethics: 100% Conservative, 0% Liberal
Defense and Crime: 100% Conservative, 0% Liberal
And YOUR generation isn’t going to pay for any more than MY generation did because people are stupid.
So, I suggest you get with the program and learn all you can about your taxable income and cut off the blood supply (your tax dollars) to Washington wherever you legally can.
Is your 401K or IRA FULLY funded each year? If not, why not?
Do you live below your means? If not, why not?
Do you have a small business on the side, or do you own a small business as your means of employment? If not, why not?
Do you give to charity each year? $500 is deductible, no questions asked. If not, why not?
If you’re not part of the solution (denying Washington every penny that you can) then you’re part of the problem.
Just THINK about educating yourself and changing your ways. That’s all I ask. ;)
As a side note, has anybody noticed that Obambi and/or Biden seem to appear at the same city several days after McCain or Palin have visited? Coincidence?
exactly. change, but he’s not telling you what kind of change. His marxist beliefs will crash and end capitolism.
Long lines. and welfare for all. The govt will own all of us. Ending Hollywoods reign.
exactly. change, but he’s not telling you what kind of change. His marxist beliefs will crash and end capitolism.
Long lines. and welfare for all. The govt will own all of us. Ending Hollywoods reign.
I’ve got a plan but I’m not going to talk about it for a while.
Oh, that's right all of our memory has been erased. Well, not all. I still remember Barry talking about an $850 billion dollar plan for Africa.
Obama didnt even speak out against corruption in Chicago, so it is doubtful that he will accomplish anything in Washington.
He didn’t change Chicago
He didn’t change Springfield
He didn’t change the US Senate,
But just you wait...when He gets to the White House, by golly, the waters will recede and the planet will heal.
He will reform wallstreet alright, change all bank accounts that make money to his account, now thats change we can believe in..
Oh, I think he'll change things from the White House if his ACORN fellow community organizers should wright sufficient corruption. Nationalism, Socialism, despotic leadership, Fairness Doctrine, no drillin' nowhere!
He'll take our dollars and leave with paltry change.
HF
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