With the election date fast approaching and the current state of our economy it is no surprise that the majority of the political media coverage this week would be focused on the presidential candidates’ economic policies and their respective plans for fixing the Wall Street crisis. According to an article by ABC News both presidential candidates have adopted opposite strategies to combat the problems on Wall Street. Senator McCain offered a detailed six-point plan for reforming Wall Street which included a consolidation of regulatory agencies, promoting greater transparency, and creating a new oversight body called the Mortgage and Financial Institution Trust (MFI). However, Senator Obama chose not to present any plan for fixing Wall Street. Instead he decided to hold off and let Congress propose its plan first.
It will be interesting to hear what Senator Obama’s strategy for Wall Street is. Once he reveals it I believe the American public will have a better idea of the economic strategies of both presidential candidates. Its important for the American people to be aware of the economic views of the candidates considering that the economy is at a low point.
