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McCain, Obama focus on the financial markets

Presidential candidates, running mates press economic debate

Election 2008

September 16, 2008|By Michael Finnegan and Noam Levey , Los Angeles Times

Biden condemned what he said was "a culture in Washington where the very few wealthy and powerful have a seat at the table and the rest of us are on the menu."

McCain's economic programs are virtual copies of Bush's, he charged. "If you're ready for four more years of George Bush, John McCain is your man," Biden said.

The depth of yesterday's financial woes - including a drop of more than 500 points in the Dow Jones industrial average - prompted Democrats and Republicans alike to call for regulatory changes.

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"We're going to put an end to the mismanagement and abuses in Washington and Wall Street that has resulted in this financial crisis," Palin told a crowd in Colorado, where she campaigned without McCain. "We're going to reform the way Wall Street does business and stop multi-million dollar payouts and golden parachutes to CEOs who break the public trust."

In Colorado, Obama also accused Republicans of using "false advertisements, lies and spin" to distract voters from the major issues at stake. The Illinois senator also sought to reclaim his image as an outsider who could shake up the Washington establishment, saying he upset leaders of his own party by pushing to stop favor-trading between lobbyists and lawmakers.

At an outdoor rally in western Colorado, Obama told nearly 6,000 supporters that the election was "not about Paris or Britney," alluding to McCain ads that liken Obama to tabloid celebrities. "It's not about lipstick. It's not about pigs. It's about you. It's about whether you'll be able to sell your home for what it's worth or put enough money away each week so that you can someday watch your child accept her college diploma."

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