SEN. OBAMA: No. I am confident about the American economy, but we are going to have to have some leadership from Washington that not only sets out much better regulations for the financial system; the problem is we still have a(n) archaic, 20th-century regulatory system for 21st-century financial markets. We're going to have to coordinate with other countries to make sure that whatever actions we take work. But most importantly, we're going to have to help ordinary families be able to stay in their homes, make sure that they can pay their bills, deal with critical issues like health care and energy, and we're going to have to change the culture in Washington so that lobbyists and special interests aren't driving the process and your voices aren't being drowned out.
MR. BROKAW: Senator McCain, in all candor, do you think the economy's going to get worse before it gets better?
SEN. MCCAIN: I think it depends on what we do. I think if we act effectively -- if we stabilize the housing market, which I believe we can if we go out and buy up these bad loans so that people can have a new mortgage at the new value of their home; I think if we get rid of the cronyism and special interest influence in Washington so we can act more effectively -- my friend, I'd like you to see the letter that a group of senators and I wrote warning exactly of this crisis.
Senator Obama's name was not on that letter. The point is -- the point is that we can fix our economy. Americans -- workers are the best in the world. They're the fundamental aspect of America's economy. They're the most innovat