Debate Live Blog - Part 1

Alan Schaeffer: How do you help people who have suffered in this economic downturn?

BO: Worst financial crisis since Great Depression. You're worried... I believe this is a final verdict on the failed policies of the past 8 years... same crap about how it was the failure of deregulation... calls for strong oversight.. cracking down on CEOs... no golden parachutes... AIG took a big trip after getting bailed out... tax cuts for middle class... road and bridge projects... (?) someone who thinks about the middle class

JM: BO, it's good to be with you at a town hall meeting (zing!)... I have a plan and it has to do with energy independence... keep all Americans' taxes low... cut spending... laid a lot of debt at our kids' feet... (where the hell is the strike back on the failure of deregulation???)... retirees/mortgage payments... I will direct the Treasury Secretary to revalue homes at their new post-bubble value and rewrite mortgages...

TB: Followup - who follows Hank Paulson?

JM: Not you, Tom! That's a tough question... first question is can Americans trust that person... Warren Buffett (?)... Meg Whitman (at least it's a supporter of his!)... 1.3 million Americans make their living off of eBay... problem is lack of trust in our institutions due to Wall St greed and cronyism in DC

BO: Buffett would be good choice... prosperity does not trickle down... JM said fundamentals of economy are sound (BO, you said the same thing!)... Senator McCain is right (#1)