[big campaign] Media Monitoring Report - Evening 09/19/08

podesta-emails 3,033 words email

P17 P22 V15 V11 P21

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*Main Topics: *McEconomics, McLobbyists *Summary of Shift: *Alaska's First Dude says thanks, but no thanks to the subpoena against him. Meanwhile, FNC reports "Investigator extends subpoenas until September 26th." CNN reports "Polls show Palin appeal waning." McCain urges the fed to stop bailouts while Paulson and Bernanke warn of "disaster" without them. During a Barack Obama campaign stop a dozen protesters interrupt his stump with some unusual signs while Biden reminds Americans of McCain's anti-regulation history. The resentment Palin expressed as a result of being snubbed for the anti-Iran rally was a recurrent subject of discussion and coverage. Following a federal rescue of billions in bad mortgage debts, stocks soar. Bush concedes that confidence has been shaken significantly. Radical Saudi Cleric, Sheikh Saleh el-Lheidan issued a fatwa against Mickey Mouse (aka 'Satan's agent') as well as some Middle East soap operas. Hackers also infiltrated the Ayatollah's site and put Bill Maher on its homepage. Mid-evening the SEC issued a statement vowing an expansion of their investigation into market manipulation and aggressive prosecution for those found guilty. Highlights: 1) McLobbyists go to bat for their candidate a. FNC: Pfotenhauer claims her camp has most transparency in history of presidential elections and guards against future lobbying activities b. FNC: Holtz-Eakin touts McCain's economic prowess c. MSNBC: DHE answers questions about McCain's support for Bush's proposed solution to the economic meltdown d. CNN: Doug wants to bestow hope unto Main Street Clips Highlight #1 *Pfotenhauer Criticizes Obama's Transparency* (FNC 09/19/08 1:35pm) MARTHA MACCALLUM: Let's talk about the connections to Fannie Mae. Barack Obama's campaign is saying if you want to open that can of worms, we can start pointing to Charlie Black and Rick Davis and others who have had connections through lobbying efforts to Fannie Mae and Freddie Mac. They're saying don't go there because it doesn't make any sense to go there given what he we have on the other side of that argument. NANCY PFOTENHAUER: Well, Martha the difference is that these two gentlemen actually ran Fanny Mae and so that's a very big difference between someone who might have done some consulting work for the entity and somebody who had direct control over the entire thing— MACCALLUM: But, Nancy what are you saying— PFOTENHAUER: —at a time when balance sheets were manipulated and *they walked away with million dollar packages.* MACCALLUM: We all know what happened at Fannie Mae and Freddie Mac, but, in terms of—they're saying that there was no relationship with Franklin Raines, and even the paper that first quoted those relationships has admitted that, you know, it was a very sort of off the cuff comment that Franklin Raines made once about, you know: yes, I did once get some calls from the campaign but they say he is not, never has been an official economic advisor to that campaign. PFOTENHAUER: You know, Martha, it's difficult to check them on that, isn't it—because *they refuse to list their advisors. They've never done that despite repeated requests. They don't comply with our standards, which are the highest that have ever been used in presidential election history* *as far as lobbying goes and future preclusion of lobbying activities *and so there is no way to check them. What we do know is Mr. Raines stated it and *The Washington Post* reported it on more than one occasion. MACCALLUM: You know, they're saying that each one of those occasions that they reported it referred to the same moment in time but let's leave that where it is for now. Let's talk a little bit about the polls because John McCain is at the biggest deficit he has seen since the Republican National Convention; at least in the Gallup poll today: 49% for Barack Obama – 44% for John McCain. It doesn't seem that he is weathering this economic crisis very well in terms of the polls. PFOTENHAUER: Well you know what? Martha, it's not over yet. What we saw this week was emblematic and the difference between John McCain and Barack Obama. John McCain showed leadership. He didn't didn't do the rhetorical equivalent of voting present, the way Barack Obama has done during this. Barack Obama won't even make a statement really on the A.I.G. deal; wouldn't say 'thumbs up' or 'thumbs down.' Senator McCain came out immediately with a very specific plan, in fact, ahead of the treasury department, ahead of the White House, ahead of congress, and what they're talking about right now seems to resemble, in many of its principles, what Senator McCain's plan was. So he leads. He goes out in front of the problems to solve the problems the country is coming and Barack Obama just gives a speech about it. *Holtz-Eakin Questioned on the Legitimacy and Purpose of McCain's MFI Plan*(FNC 09/19/08 1:18pm) SHEPARD SMITH: John McCain said today that he wants to start something called the Mortgage and Financial Institutions Trust, the MFI, which would identify these institutions that are on the verge of failing and then fix them before they collapse. Is it just more corporate babysitting, Doug? DOUGLAS HOLTZ-EAKIN: Well, it's an attempt to make sure we don't have happen what happened with Fannie Mae and Freddie Mac, which is a big collapse and the money ends up on the backs of the taxpayers. We don't want to have another Bear Stearns. It's time to get ahead of this problem. And the Senator wants to put in place this trust. The trust would identify troubled institutions. They would get bridge financing and that financing would give them the time to sell of distressed assets, find a core business that's profitable, go forward with that business and then the taxpayers going to claim on their future profits to repay them for the bridge financing. And that's a way to get this economy going, we can't afford to have these kinds of problems, people need jobs and this is a way to get us past that. SMITH: Noted Doug, but you say it's time to get ahead in this and in the next breath John McCain comes out and says the SEC, the SPIC, all these other different organizations have really done a lousy job, yet he wants to add one more. Before we add one more, don't we have to wipe some of these things out? HOLTZ-EAKIN: Well, this is not anything that would be permanent, this is a bridge to the future for the troubled firms we have now. The other part of the plan, a fact finding commission, a legislative strategy, some principles for safety and soundness, consumer protection, getting rid of golden parachutes for CEOs and having a stable system, that's where we have to end up, so that we're never in this position again. You know, John McCain called for things like this two years ago with Fannie Mae, Freddie Mac, no one listened. Here we are, big taxpayer bailouts, financial system in crisis. Let's not wait another two years, let's fix the problem, get America going again. MARTHA MACALLUM: . . . you look at all this agencies and I just can't help but wonder, what the heck they've all been doing while all of this is happening and should John McCain, or Barack Obama, both Senators be calling for the elimination of some of these agencies? HOLTZ-EAKIN: We should see comprehensive financial reform and that reform, as I said, should end up with less of an alphabet soup, some nice comprehensive, cohesive legislation— MACALLUM: . . . what agencies would you advise go out of existence, any? HOLTZ-EAKIN: Look, we've got a CFTC, an FTC, an FDIC, SPIC, public accounting oversight board— [Holtz-Eakin is cut off for breaking news. He does not return.] *Holtz-Eakin Addresses Contradictions Between Bush and McCain Statements and Attacks Obama's Remarks on the Economy* (MSNBC 09/19/08 1:45pm) NORAH O'DONNELL: Let me ask you about McCain's speech this morning. He said, "no more bailouts by the Federal Reserve." And then we heard the president about an hour and a half later announce this bailout by the federal government. Does McCain support the efforts made this morning . . . ? DOUGLAS HOLTZ-EAKIN: What Sen. McCain talked about this morning was an approach that gets ahead of the problems and establishes what he calls a Mortgage and Financial Institutions Trust. That trust would take on proactively large trouble financial institutions. It would as a result, relieve the Federal Reserve of the obligation of stepping in in a crisis, bailing out another firm. It would find an orderly way to get the troubled assets off their books. Get these loans out there, get credit markets functioning again and get the weight of Wall Street off the economy. It's an approach that, quite frankly, the congress and the administration could get behind. It would satisfy their goals. It would minimize the exposure of taxpayers and be a good thing for the American economy. O'DONNELL: Ok, Doug, just so I understand, he does, McCain does support what the President laid out this morning? Yes or no. HOLTZ-EAKIN: The details aren't yet out on exactly what they proposed, so it's hard to say. But, I think their broad principles match what the senator's trying to accomplish and I would encourage them to embrace his approach. O'DONNELL: Let me ask you about Barack Obama and what he did today. He essentially held off on presenting a more detailed plan. And this is why he explained that he has done that. Take a listen. BARACK OBAMA: Given the gravity of this situation and based on conversations I've had with both Secretary Paulson and Chairman Bernanke, I will refrain from presenting a more detailed blueprint about how an immediate plan might be structured until I can fully review the details of the plan proposed the Treasury and the Federal reserve. I think it's critical at this point that the markets and the public have confidence that their work will be unimpeded by partisan wrangling and that leaders in both parties work in concert to solve the problem at hand. O'DONNELL: . . . he said it shouldn't be engaged in partisan wrangling, why then do you choose to put your plan forward? HOLTZ-EAKIN: Sen. Obama has policies that are bad for jobs, he's got higher taxes on dividends and capital gains that'll hurt the stock market in this crisis. And he's got no plan to get through the financial crisis. Sen. McCain is looking at a landscape that's threatening to American families and he's gauged what is necessary and put forth good policies for Main Street, found a way to get the trouble off of Wall Street, get a transition to a new regulatory regime that protects American taxpayers and allows Wall Street to know the rules of the road. That's a game plan for the future. And Sen. Obama's watching it go by. O'DONNELL: Can I ask you about a *Wall Street Journal* editorial today that essentially was a very scathing critique of McCain. It said, quote, "Mr. McCain is sounding like a candidate searching for a political foil rather than a genuine solution. He'll never beat Mr. Obama by running as an angry populist like Al Gore, circa 2000." Can you respond to that, that McCain has been flailing about for a message, that he was against a bailout and then he supported it; that this week he was for a 9/11 style commission and then you announced a different plan today. Are you guys still searching for the right way to deal with this crisis? HOLTZ-EAKIN: This is one plan. The 9/11 comission is intended to do the fact finding necessary for a regulatory reform for the 21st century. The MFI trust will get us from here to there. We can't just let Wall Street melt while we study the problem. They go hand in hand and the trust is temporary and then goes away. Quite frankly, if the *Wall Street Journal *isn't upset by what's going right now on Wall Street and the damage it's doing to America, if they're not troubled by the fact that people were put in mortgages that they never could afford and no one had any intention of living to the end of their financial lives then they're missing problems in America. O'DONNELL: . . . people say that it was you who joked or said seriously . . . that McCain's experience was that he created the BlackBerry, any comment on that today? HOLTZ-EAKIN: I have learned one thing and that is not to make jokes on the campaign trail and I am done discussing technologies and the history of their origins. *Holtz-Eakin Wants to Give Hope to Main Street* (CNN 09/19/08 7:32pm) DOUGLAS HOLTZ-EAKIN: The senator firmly believes that we should not be putting taxpayer money in casually. The only time it makes sense to put it in is to put money in to save the financial system, and thus people and businesses from greater harm […]. LISA SYLVESTER: Wait. Let me make sure I 'm clear on this. Does he support putting in taxpayer money for some type of a bailout? Does he echo some of the same sentiments Secretary Paulson outlined earlier today? HOLTZ-EAKIN: The first choice is to not put taxpayer money in, but the reality is some institutions, AIG for example, are so large and present such a great threat to the American economy, that we would be negligent if we didn't get them through their problems, using minimal taxpayer bailouts, minimal taxpayer finances, and, in this case, find a way to not put them in bankruptcy. Find a way to get ahead of the curve, be pro-active. Give them a place to go where the workouts can happen and they can emerge as contributors to society and our economy, not a drag on it. SYLVESTER: All right. I want to play a sound bite for you of Senator Obama today and what he had to say about the current situation. BARACK OBAMA: Given the gravity of this situation, and based on conversations I've had with both Secretary Paulson, and Chairman Bernanke, I will refrain from presenting a more detailed blueprint about how an immediate plan might be structured until I can fully review the details of the plan proposed by the treasury and the Federal Reserve. SYLVESTER: What is your reaction? HOLTZ-EAKIN: Well, Senator McCain actually has a plan. He has a plan that minimizes the taxpayers' involvement, it gets ahead of the problem, it doesn't put the liabilities on the government books, it doesn't do what we did with Fannie Mae and Freddie Mac and take on $5.6 trillion of liabilities. *Senator Obama is just going to, you know, vote present once more in a crisis.* We need some ideas. You need to be able to stand up, [and] take some leadership. We hope the Bush administration, we hope the congress gets together, and realizes that Senator McCain has a plan and should adopt it and move forward. SYLVESTER: Whoever is elected the next president will have to deal with this crisis squarely. What type of regulations will we see coming out of a McCain administration so that we are not in the same situation down the road? HOLTZ-EAKIN: Well, *you want comprehensive regulation* that treats every economic transition—transaction exactly the same no matter where it takes place. If it takes place in Chicago, in New York, on an electronic trade, it should have the same regulatory structure. What should come out of that should be a regulator that has safety and soundness for every financial institution and *the ability to shut it down *if it's a danger to America and some consumer protections—no more mortgage fraud—and some corporate governance reforms so we don't see *CEOs walking away from failed institutions with multimillion dollar golden parachutes* and you like to make sure the system has some stability and there was a check on that stability. There's a path to that through the congress, the senator is dedicated, as president, to making it happen and we think this is a way forward in the 21st century to set the rules of the road right so we can have a good financial service industry but not see the excess and the real failures of the recent past. SYLVESTER: Really quickly—there are a number of democrats that are proposing some type of help or relief for middle-class families that are struggling, the idea being that as congress gets set forth to bail out wall street that something should be done for the folks on main street. What are your thoughts there? HOLTZ-EAKIN: I think it's imperative that we have *hope* for Main Street. That's why John McCain wants to make sure that main street doesn't get crushed by this Wall Street problem. That main street has a chance to create jobs, build a foundation of future prosperity and quite frankly the senator from Illinois, Senator Obama's plans to give someone a $500 tax credit, that's not going to be much help if you're out of work. You need a plan to have jobs. John McCain is creating jobs in health care plans, energy plans, tax plans. It's the future for the middle class. -- Jacob Roberts PAO 208.420.3470 (c) --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the "big campaign" group. To post to this group, send to [email protected] To unsubscribe, send email to [email protected] E-mail [email protected] with questions or concerns This is a list of individuals. It is not affiliated with any group or organization. -~----------~----~----~----~------~----~------~--~---