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The U.S. financial crisis continued to dominate the presidential campaign Friday, as both major party candidates for the White House spoke1 about what they would do to deal with the market turmoil2. VOA National correspondent Jim Malone has more from Washington.
John McCain and his VP running mate Sarah Palin, greet supporters during rally for business leaders in Wisconsin, 19 Sep 2008
Republican candidate John McCain spoke in Wisconsin and said the U.S. central bank should stop bailing3 out failed financial institutions, and should return to the main job of managing the money supply and guarding against inflation.
McCain said that, if elected president, he would set up a Mortgage and Financial Institutions Trust, MFI for short, which he says would help homeowners avoid foreclosure.
"The MFI will restore investor4 and market confidence, build sound financial institutions, assist troubled institutions and protect our financial system, while minimizing taxpayer5 exposure," he said.
McCain also ramped6 up the attacks on his Democratic opponent, Senator Barack Obama. McCain said Obama's ties to the failed mortgage lenders Freddie Mac and Fannie Mae, including campaign contributions, make him part of the problem.
"We've heard a lot of words from Senator Obama over the course of this campaign," he said. "But maybe, just this once, he could spare us the lectures, and admit to his own poor judgment7 in contributing to these problems."
Barack Obama, accompanied by former Treasury8 Secretary Robert Rubin, during a news conference in Coral Gables, Florida, 19 Sept. 2008
Senator Obama campaigned in Florida Friday, and met with his group of economic advisors9, including several veterans of the Clinton administration.
Obama said he supports President Bush's decision to give the Treasury Department broad authority to deal with the financial crisis.
Obama also said he would hold off for a while before presenting his own detailed10 plan, which he said must take into account what he called the needs of Main Street as well as Wall Street.
"I'm glad that our government is moving so quickly in addressing the crisis that threatens some of our biggest banks and corporations," he said. "But a similar crisis has threatened families, workers and homeowners for months and months, and Washington has done far too little to help."
Obama also struck a note of bipartisanship by appealing to Senator McCain, President Bush and lawmakers from both major political parties to support an emergency economic stimulus11 plan for working families.
"John McCain and I can continue to argue about our different economic agendas for next year, but we should come together now to work on what this country urgently needs this year," he said.
Both candidates focused on the financial crisis all this week, well aware that the economy ranks as the Number One issue with voters in this year's election.
Obama has seen a modest boost in his poll ratings this week, as Americans react to the bad economic news.
1 spoke | |
n.(车轮的)辐条;轮辐;破坏某人的计划;阻挠某人的行动 v.讲,谈(speak的过去式);说;演说;从某种观点来说 | |
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2 turmoil | |
n.骚乱,混乱,动乱 | |
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3 bailing | |
(凿井时用吊桶)排水 | |
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4 investor | |
n.投资者,投资人 | |
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5 taxpayer | |
n.纳税人 | |
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6 ramped | |
土堤斜坡( ramp的过去式和过去分词 ); 斜道; 斜路; (装车或上下飞机的)活动梯 | |
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7 judgment | |
n.审判;判断力,识别力,看法,意见 | |
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8 treasury | |
n.宝库;国库,金库;文库 | |
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9 advisors | |
n.顾问,劝告者( advisor的名词复数 );(指导大学新生学科问题等的)指导教授 | |
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10 detailed | |
adj.详细的,详尽的,极注意细节的,完全的 | |
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11 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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