Caution: Watch out for falling blameThe collapse of two storied financial institutions has both parties scrambling to point the finger to boost their campaigns.
Barack Obama and John McCain took turns responding to the Whirlwind on Wall St. involving the selling of Merrill Lynch and bankruptcy of Lehman Brothers, two of the biggest finance houses in the country.
AIG is also on the ropes today as it is asking the Fed for a $40 billion bridge loan to hold off collapse while it sells assets.
Barack Obama seized the opportunity and threw a jab at the GOP.
"(I do not fault Sen. McCain, but) I do fault the economic philosophy he subscribes to. It's a philosophy we've had for the last eight years — one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else."
John McCain's camp already has an ad circulating to counter punch what happened to the economy.
An excerpt from the ad:
"Our economy in crisis. Only proven reformers John McCain and Sarah Palin can fix it. Tougher rules on Wall Street to protect your life savings. No special interest giveaways. Lower taxes to create new jobs. Offshore drilling to reduce gas prices."
One thing that isn't in crisis is the campaign fund for either candidate. Both candidates reported personal-bests in fund raising for August, with Obama claiming $66 million and McCain raising $47 million.
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