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September 19, 2008

McCain Says Corruption at Root of US Economic Problems
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http://enews.voanews.com/t?ctl=1E46F12:A6F02AD83191E160F10E54FA0E7DA3A93CF5CDEF8FC051DA&
 
Republican presidential nominee says there are too many government
regulatory agencies and that they need to be consolidated; Democratic
presidential nominee to address economy later, Friday 
Republican presidential candidate John Mc Cain and his vice presidential
running mate Sarah Palin, greet supporters during rally for business
leaders in Wisconsin, 19 Sep 2008 U.S. presidential candidate John Mc
Cain, a Republican, blames corruption in the home mortgage and financial
industries for the nation's economic woes, and has proposed steps to
improve regulation and punish wrongdoing. Speaking in the midwestern
state of Wisconsin Friday, Senator Mc Cain said there are too many
government regulatory agencies and that they need to be consolidated to
do their jobs right. He also said the Treasury Department should develop
a consistent policy for its role in helping troubled financial firms,
saying it will not do to "keep making it up as we go along."Mc Cain said
his Democratic rival, Barack Obama, will raise taxes and make things
worse for America's working people. Senator Obama has called on the
Treasury and the Federal Reserve to use their emergency powers to
maintain the flow of credit, ensure mortgages remain available and
provide capital to the financial system. Obama is due to announce more
details of his own economic plan Friday. In a separate development, the
Mc Cain campaign says the husband of Alaska Governor Sarah Palin, the
vice presidential nominee, will not testify in a legislative probe into
a possible abuse of power. Todd Palin is among 13 people subpoenaed by a
legislative council investigating the governor's firing of the state's
public safety commissioner. The ex-commissioner says he was let go after
he refused to dismiss a state trooper who was involved in a bitter
divorce from the governor's sister. The Mc Cain campaign says the probe
is politically motivated.

Some information for this report was provided by AP and Reuters.


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