U.S. presidential candidates John McCain and Barack Obama have outlined
their plans to help stabilize financial markets and to prevent future
Senator McCain, a Republican, speaking in Wisconsin on Friday reiterated his proposal to establish a new government body to help struggling financial institutions before they collapse.
He also promised broad regulatory reforms to stop corruption and to increase transparency in the financial sector.
Senator Obama, speaking in Florida, stressed the importance of finding
a bipartisan solution to the problems. He cheered the Federal Reserve
and the Treasury Department for working with leaders in Congress.
The Democrat also said the current economic crisis is a worldwide
issue, and he called on other nations to cooperate in finding a
He said he will release further details of his plan after he has had a chance to review the government's current response.
In a separate development, the McCain 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 McCain campaign says the probe is politically motivated.