barbershop time
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Analysis: GOP, Dems using wars to define Obama
CHICAGO - Democrat Barack Obama wants to prove he's ready to be a wartime commander in chief. Republican John McCain hopes to sell the idea that his rival is not.
The return of Iraq and Afghanistan to the forefront of the presidential campaign illustrates how both sides increasingly seem to view the race as largely a referendum on Obama, a first-term Illinois senator trying to become the first black president.
"I will end this war as president," Obama said of Iraq and promised anew that he would redirect U.S. efforts to Afghanistan. The likely Democratic nominee struck a stately pose Tuesday as he delivered a lengthy foreign policy address ahead of an upcoming overseas trip. He spoke from a podium that said "Judgment to Lead" set up before an array of American flags. continue
Video of Obama and McCain Iraq/Afghanistan Speeches, here.
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obama on larry king, tuesday, july 15th
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Europe awaits Obama with open arms
From prime ministers to college students, Europeans want to cloak Barack Obama in a warm embrace when he arrives on the continent next week. But they're also aware that anything that looks or smells like elitist Old Europe could hurt the Democratic contender with voters back home.
Obama has yet to finalize his itinerary for Europe. However, he is already set to skip Brussels, the capital of the modern united continent, for the traditional symbols of economic and military power: London, Paris and Berlin.
All those European capitals' leaders have expressed a willingness to adapt their schedules to see the American politician whose sky-high approval ratings in their countries are at least as good as their own. Polls reveal that if they could vote in the United States, between 53% and 72% of the British, French and German public would pull the lever for Obama.
"If Britons elected American presidents, Barack Obama would have no worries," began an editorial in the left-wing British newspaper, the Guardian.
Yet the editorial also recognized that his popularity in Europe would not help at home: "To be seen as Europe's pet is the last thing a presidential candidate needs -- especially one who wants to shed his elitist image with white working-class American voters."
In France, where Obama's liberal profile appeals to both Socialists and members of President Nicolas Sarkozy's center-right party, pundits recalled that four years ago most of Europe gushed over Democrat John F. Kerry (who spoke impeccable French).
"Look at what good that did him," a Sarkozy friend noted dryly during this week's swanky Bastille Day celebrations in the garden of the presidential Elysee Palace. continue
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today show: economy, iraq
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Is WAMU and National City Banks, Next?
After the fall of IndyMac and the video of angry and upset customers, one can only imagine what bank is next?
I mean, come on, all these banks were in bed with this mortgage mess. Many just as guilty for riding the high tide only to come crashing to the ground.
I once worked at Washington Mutual and on the mortgage side. They were booming, opened up retail banking and wholesale banking all over the country.
I was surprise they came here to Illinois, this is a northwest bank out of Seattle. The growth nationwide was astounding. Now they closed all their wholesale banking here in Illinois, most of the retail banking (customer banking) with exception of Cook County and left the mortgage industry.
And what happened to all those jobs and boom? That is history, all gone. So, I am not surprised at the struggle that this bank is currently going through.
All I can write is this, watch this economy and especially these banks. I don't care what Bush attempted to state about the soundness of these banks nationwide, IndyMac was not a fluke and will not be the only bank to topple before this mess is totally exposed.
As hundreds of customers lined up at IndyMac bank branches Monday, investors and customers took stock of the health of other banks -- and they showed their concern
IndyMac became the seventh bank to fail since the credit crisis began last summer, and the second-largest bank to fail in the Federal Deposit Insurance Corp.'s 75-year history when it was seized Friday. On Monday, stocks in nearly all the nation's banks and thrifts were clobbered as the market bet that there will be more failures.
''IndyMac's failure has people worried about others,'' said Mark Fitzgibbon, a principal at Sandler O'Neill & Partners LP. ''The mindset is, 'throw the baby out with the bathwater.' ''
Two that took the greatest hits, Washington Mutual, the largest U.S. savings and loan, and National City, which last year bought Clarendon Hills-based MidAmerica, issued statements on their viability.
WaMu, which slid $1.72, or 35 percent, to $3.23, said it exceeds all regulator minimums for so-called well-capitalized lenders and will provide more details when it reports earnings on July 22.
Cleveland, Ohio-based National City said there was ''no unusual depositor or creditor activity'' and that as of Friday's close it had more than $12 billion of excess short-term liquidity. Before the statement was issued, trading was halted after the stock fell more than 30 percent. Shares closed the day down 65 cents, or 14 percent, to $3.77 after trading resumed. continue
Read, "Who's the Next IndyMac?"
Read, Downgrade of IndyMac
Read, What Saving Fannie Mae and Freddie Mac will cost you.
And read, Inflation jumps 1.1%, largest jump in 26 years
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New National Security Ad
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CBS/NY TIMES NATIONAL POLL
Obama 45, McCain 39
Crosstabs and specs here.
and McCain raises $62.5 million through public finance loophole
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today show's take on the economy
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John McCain: I graduated fifth from the bottom of my class
Evening Wrap Up Here
So, how is your day going?
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