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ELKO, Nevada: Democrat Barack Obama launched a scathing attack on his White House rival John McCain on Wednesday for being part of the very "old boy network" that the Republican said had driven the US economy into crisis.
Addressing at least 1,500 supporters at a sunny open-air rally, Obama said the Federal Reserve's rescue of giant insurer American International Group "must ensure that the plan protects the families that count on insurance."
"It should bolster our economy's ability to create good-paying jobs and help working Americans pay their bills and save their money," he said.
"It must not bail out the shareholders or management of AIG who were making big profits when times were good. They shouldn't be bailed out when times are bad."
Obama, arguing the United States was "in the midst of the most serious financial crisis in generations," ridiculed McCain for claiming the economy was "strong" and then vowing to shake up Washington.
"This is someone who's been in Congress for 26 years, who put seven of the most powerful Washington lobbyists in charge of his campaign - and now he tells us that he's the one who will take on the 'old boy network'?" Obama said.
"The old boy network? In the McCain campaign, that's called a staff meeting," he said to hoots of derision from the Nevada crowd.
The Illinois senator noted McCain's idea for a presidential commission to map a way out of the economic troubles sweeping the United States as job losses and home seizures mount and pensions are wiped out.
The proposal for a commission similar to the panel that investigated the September 11 attacks of 2001 was "Washington-speak for 'we'll get back to you later'," Obama said.
"Folks, we don't need a commission to figure out what happened. We know what happened," he said.
"Too many in Washington and on Wall Street weren't minding the store. CEOs got greedy. Lobbyists got their way. Politicians sat on their hands until it was too late.
"We don't need a commission to tell us how we got into this mess, we need a president who will lead us out of this mess - and that's the kind of president I intend to be," he exclaimed to raucous cheers.
Obama's attack came after the Democrat released a presidential-style TV advertisement lasting two minutes to stake out his ideas to restore the "American dream."
He promoted his plan to cut taxes for middle-income Americans, bring about energy independence and crack down on lobbyists.
Obama promised to end the "anything goes" culture of Wall Street and divert 10 billion dollars a month of spending in the Iraq war to rebuilding shaky US infrastructure including roads and bridges.
He contrasted his own plan with McCain's advocacy of extending multi-billion-dollar tax cuts for high earners and noted his continuing links to former Texas senator, Phil Gramm, who quit his role as an economic adviser to the Republican after saying Americans were a "nation of whiners."
Obama recalled McCain's expressions of anger at the greed and excess of Wall Street and corporate interests.
"He's so angry he wants to punish them with 200 billion dollars in tax cuts. And if they're not careful, he'll give them even more tax cuts for shipping our jobs overseas," the Democrat said.
"So while he isn't offering real solutions, he can't talk enough about how greedy Wall Street is, and how he's going to take on that old boy network in Washington," Obama said.
"At this rate, by the end of the week John McCain will be telling us how he and Phil Gramm and the seven lobbyists are planning to storm the Treasury Department with torches and pitchforks. Come on." - AFP/de
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