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Obama: McCain bared 'Katrina-like' ineptitude over Wall St crisis

Monday, September 29, 2008

DETROIT, Michigan, (AFP) - White House hopeful Barack Obama said his Republican rival John McCain was guilty of "Katrina-like" bungling over the US financial crisis, as a new post-debate poll gave the Democrat a decisive lead.

Both the contenders for the November 4 election said Sunday a drastically reshaped deal to bail out Wall Street, set to go before a vote in Congress after a weekend breakthrough by senior lawmakers, was a bitter but necessary pill.

Obama said it was an "outrage" that taxpayers had to rescue financiers from their own folly but, like McCain, argued the world's biggest economy was at risk of disaster without government action.

The Democrat, addressing a mammoth crowd of 35,000 at a boisterous rally here, said McCain "doesn't understand that the storm hitting Wall Street hit Main Street long ago."

"That's why his first response to the greatest financial meltdown in generations was a Katrina-like response. Sort of stood there, said the fundamentals of the economy are 'strong,'" Obama said.

"That's why he's been shifting positions these last two weeks, looking for photo-ops, trying to figure out what to say and what to do," he told the rally, joined by his running mate Joseph Biden and their wives....(Click here for remainder).

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