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Surely, in the heat of the Presidential campaign, the next story to file would be the candidates' reaction to such a monumental development. NBC went to Kelly O'Donnell and Lee Cowan, covering John McCain and Barack Obama respectively. CBS had Chip Reid with the McCain campaign. ABC did not file a single campaign package in its entire newscast. Instead it made room for A Closer Look from Dan Harris into why Americans believe in angels and a closing adventure feature from Ryan Owens on a new form of low-altitude sky-diving called swooping. What was ABC thinking?
"It was the fourth day in a row the economy has been front and center," mused NBC's Cowan, reflecting the nightly newscasts' own agenda. He called it "an opportunity for Obama to be on the offensive for a change." His colleague O'Donnell agreed: "The financial crisis has so overtaken this race," she exclaimed as McCain responded by demanding the resignation of Christopher Cox, the head of the Securities and Exchange Commission, and blasted Obama for being too cozy with FannieMae and FreddieMac, the federal mortgage guarantee corporations that were nationalized last week. CBS' Reid explained that McCain was adopting such a populist tone because "he is not known for tough regulation of Wall Street."
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