The Dow suffers a massive sell-off before recovering a bit before the close…Congress starts investigating the Wall Street mess…and Obama’s connections with a former terrorist and McCain’s Keating Five days are front and center on the campaign trail. We cover all three of these major stories as we bring you the biggest headlines from Monday, October, 6, 2008.
Economy
Mudslinging on the Campaign Trail
Over the past few days, both campaigns have gotten more personal in their criticisms of the opposing ticket. The McCain campaigning is blasting Barack Obama for his connections with unrepentant 1960s terrorist Bill Ayers. In response, the Obama team is highlighting McCain’s involvement in the Keating Five scandal from a generation ago. Why are we seeing this now? Are these legitimate topics? Are these good strategies? And what impact will this have on Election Day? We ask longtime Democratic activist Michael Lewan, former Chief of Staff for Connecticut Sen. Joe Lieberman.
Which Party Will Control Congress?
Most eyes are on the presidential campaign, but what do the Congressional races look like? Will Democrats hold their majorities or do Republicans have a shot? Which seats do GOP officials think they can win back? Which issues do they see as winners? And how will Republicans overcome the mountain on retirements among House members? We ask all these questions to Ken Spain, spokesman for the National Republican Congressional Committee.
New Poll Shows Obama Up Big in Virginia
Virginia has emerged as a major battleground state in this year’s presidential race. Democrats haven’t won the Old Dominion since Lyndon Johnson carried it back in 1964. So how big is the Obama lead in the latest Suffolk University poll? Are we seeing a momentum shift or are the numbers all over the place? And what do the numbers show in some of the most decisive parts of Virginia? We ask pollster David Paleologos of Suffolk University.
Wall Street Bloodbath
Passing the bailout bill would provide quick stability to Wall Street, right? Maybe some day down the road, but certainly not on Monday. After major sell-offs around the world, the Dow Jones, Nasdaq and S&P are all being consumed by an avalanche of selling. What is behind this bearish attitude? How long will it last? And how can we snap out of it? That’s what we ask Brian Wesbury, former Chief Economist for the Joint Economic Committee of Congress. He is noe Chief Economist at First Trust Advisors in Lisle, Illinois.
The News Part 2
The House passed the bailout bill, but did Wall Street like it? What’s the latest news with troubled banks Wachovia and Washington Mutual? And what were the highlights from Thursday night’s vice presidential debate? We discuss it all in the rest of our top news.
Did Palin’s Performance Boost McCain’s Chances?
By most accounts, Gov. Sarah Palin’s performance in Thursday’s vice presidential debate was a boost for the Republican ticket. So what was impressive about Palin? What did Palin need to show voters and did she accomplish that? And how can the GOP ticket use the issue of the economy to its advantage? We ask all these questions to Republican National Committee Co-Chair Jo Ann Davidson.
Texas Rep. Kevin Brady Explains His Reluctant Support for the Bailout
On Friday, the House of Representatives reversed course and passed a revised version of the $700 billion bailout plan by a vote of 263-171. Texas Rep. Kevin Brady says he doesn’t like this plan but believes it’s the best option available to lawmakers right now. Listen to Brady explain his tough decision and how conversations with his constituents convinced him to vote in favor of the legislation.
The News Part 1
How optimistic is President Bush that the second time is the charm for House passage of the bailout bill? What are the presidential candidates saying about their support for the bill in the Senate? What explanations are we hearing from the few senators who voted against the updated plan? And what is House Speaker Nancy Pelosi saying about the significance of Friday’s vote? Listen here for the latest details on all of these major stories for Thursday, October 2, 2008.
The News Part 2
How did the markets fare on Thursday after Senate passage of the bailout bill and investors await the verdict in the House? What can we expect from Sarah Palin and Joe Biden in tonight’s vice presidential debate? Which Midwestern state is being abandoned by the McCain campaign? We answer all of these questions in this section of Thursday’s top news. Listen now!