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American Morning
President Bush Pleading for Patience; Obama Campaign Unveiled a Web Site That Highlights John McCain's Role in the Senate's Keating Five Scandal; One-On-One With Sarah Palin; Bad Economy Taking its Toll on College Kids
Aired October 07, 2008 - 08:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KIRAN CHETRY, CNN ANCHOR: London, where trading is already underway, shows stocks are up slightly. And right now, Dow futures flat. But for a time, Monday, the Dow was headed for its worst point loss in history. A lot of people saying we will take flat. At one time sinking 800 points. It did turn around and rallied back more than 400. Still closing though before the 10,000 mark. Again at 9955 points.
And President Bush pleading for patience, telling Americans that the massive bailout which he signed into law last week is a big step towards solving the financial crisis.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES OF AMERICA: A lot of people here in Texas and around the country are not pleased with the government having to take the steps they took. Their question is I pay my bills, I pay my mortgage, why -- why are you helping Wall Street? And the answer is because had we not done anything, people like the folks behind me would be a lot worse off.
(END VIDEO CLIP)
CHETRY: In a later speech, the president said he believes the economy will be just fine in the long run. So what do you need to know to keep your money safe in this financial storm? Christine Romans is "Minding Your Business." She joins us now with more on Wall Street's whirlwind market. I was also just hearing some people say -- well, look, clearly the bailout has not worked. Is it too soon to make that pronouncement?
CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT: It's too soon. And it's going to take time. And listen -- listen carefully. We have been saying for a long time that this was a confidence builder, the bailout. It's going to take time to actually buy those toxic securities off the banks' books. And the fed is doing everything it possibly can and more to try to restore some confidence. But there isn't a lot of confidence when you look at the markets so far this year.
I mean, you will be forgiven for opening your 401(k) statements and being absolutely nauseated. The Dow down 25 percent this year. The Nasdaq down 30 percent. The S&P 500 down 28 percent. Kiran, made a good point yesterday. It's a paper loss, actually, you know. If you open it up and you see that your 401(k) statement is down some 28 percent, that is a paper loss.
The closer you are though to retirement, and if you cash out of the stock market, then it is not a paper loss anymore. It's a real loss. So, be very, very careful about abandoning ship here. We've already seen a lot of the downside before you. If your dollar cost averaging and buying stocks, you know, every week, every month, or something, you actually could be in the long run getting some cheap stocks.
So, yesterday, what happened? Wow -- wouldn't we all like to know? The Dow in the morning was weak, down 500 points, by 10:44. Some shortly after lunch down 800. I mean, it was just a sickening feeling to watch it fall so quickly in the afternoon. And then, it turned around and cut half of its losses and rallied. So, it has been wild.
This is why we tell you not to look at the Dow day to day and make investment decisions day to day because it can be very, very wild. And we also know that the Fed and Treasury are doing everything they can, every tool they've got, and making up some new ones along the way to try to restore some confidence. There's a little bit of confidence this morning because of published report that the Fed and the Treasury are -- will unveil some kind of a plan to buy up commercial paper. This short-term instruments that fund like our salary and buying raw materials for companies, so that could help out.
CHETRY: It is mind-boggling when you take a look at these ordinary steps the fed -- the fed is attempting to take right now.
ROMANS: Absolutely. Absolutely.
CHETRY: All right. Christine Romans, thanks.
ROBERTS: Well, besides the mudslinging on Monday, the candidates did take some time to talk about issue number one, the economy as well. Both candidates said that the bailout bill was good but more has to be done to beef up the faltering economy.
(BEGIN VIDEO CLIP)
SEN. JOHN MCCAIN (R), PRESIDENTIAL CANDIDATE: We are seeing the stock market fall, credit crisis spread to other parts of the world. Our economy is still hurting. Working families are worried about the price of groceries, the price of gas, keeping their jobs, paying their mortgage. Further action is needed and must be done.
SEN. BARACK OBAMA (D), PRESIDENTIAL CANDIDATE: It is a reminder that the rescue package that was passed last week is not the end of our efforts to deal with the economy. It is just the beginning. I think it is very important for Secretary Paulson and Federal Reserve Bank Chairman Bernanke to move swiftly, and try to restore confidence as quickly as possible, to effectuate the plans based on the authority that's been given to them by Congress.
(END VIDEO CLIP)
JOHN ROBERTS, CNN ANCHOR: And issue number one could be having an impact on CNN's National Poll of Polls. Barack Obama now with a six- point lead over John McCain. New numbers out just a short time ago. Also showing shifts in the battleground states. Take a look at this. North Carolina, which had been leaning in favor of John McCain now, a tossup state. Ohio, and its 20 electoral votes, now leaning towards Barack Obama, 50 percent to 47 percent. New Hampshire now in Obama's corner by eight points. Wisconsin also showing support for the Democratic candidate by five points. Indiana still leaning toward McCain. He's holding a five-point lead there right now.
For more on tonight's crucial debate let's bring in CNN Suzanne Malveaux. She is here with us in New York this morning. Good morning to you.
SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Hi, good morning, John.
ROBERTS: So, this town hall format, we've been saying that it's advantage McCain with a town hall format. But you saw those numbers there, in those battleground states, can it turn things around?
MALVEAUX: John, it's difficult at this point because he doesn't have a lot of time. Obviously the town hall format is good for McCain because he really -- he can relate to people and this is something, as you may recall, he asked for two dozen of these kind of town hall debates with Barack Obama. Barack Obama did not accept it. But what we actually expect to see this evening is him making a real contrast with Obama and he is going to talk about the economy.
He is going to make the case that Barack Obama wants to raise taxes, that he wants to keep the taxes low. That he is the one that has the solution here. And also, John, he is calling into question his character. It is now the new strategy about what do we know about this guy. It really is something kind of this last-minute, you know, what's going to stick here. And they believe that it could.
ROBERTS: You know, we saw all those negativity out on the campaign trail yesterday. A lot of it was John McCain aiming towards Barack Obama. Barack Obama on the campaign trail said yesterday, said, hey, we've got to put this aside. We've got to talk about the issues. Let's listen to what he said.
(BEGIN VIDEO CLIP)
OBAMA: I cannot imagine anything more important to talk about than the economic crisis. The notion that we would want to brush that aside and engage in the usual political shenanigans, smear tactics that have come to characterize too many political campaigns.
(END VIDEO CLIP)
ROBERTS: So, he said that yesterday. And we've got to leave the negativity of this. But he was doing the same thing yesterday. They had the 12 to 13-minute little mini-movie on linking John McCain with the Keating Five. But this town hall formats, when voters go, when independent voters go, with undecided voters go, they want to hear solutions, not attacks. So, what are we going to hear tonight? MALVEAUX: So, Barack Obama says yesterday -- we don't throw the first punch. We throw the last punch. And he says if John McCain wants to debate on this character issue, he is happy to do that. But they don't really want to do that. They want to debate over the economic issues because they believe that that really is the strong suit. So if Barack Obama goes negative, it's going to be about the economy. That McCain doesn't have strong economic plan. That he has been erratic in his approach.
John McCain really has to be careful here. He is talking about character, that he is going after Obama, what do we know about this guy? But what is difficult in the town hall format is that he's going to be dealing with people. Real people. He's not going to have a chance to really turn to Obama and start these kind of back and forth. The format really kind of limits that. And it's harder when you have a person in the same room to actually throw that kind of mud.
ROBERTS: Suzanne Malveaux for us this morning. Thanks. Looking forward to tonight. Hey, want to make one correction here. We've just made a mistake on the air this morning. Absolutely correct here. Ohio is not leaning towards Barack Obama. The state that has gone from tossup to leaning Barack Obama is the State of Wisconsin. Ohio, still a tossup state. Still within three points.
Two questions that -- or the questions rather that you want to ask, the answers that will shape the world if you miss tonight's second presidential debate live from Nashville. Right here on CNN beginning at 9:00 p.m. Eastern.
CHETRY: We're also taking a look at what the candidates say out on the campaign trail with our "Truth Squad." We're looking at Barack Obama's claim this hour that John McCain helped protect a corrupt businessman in the 1980s. The verdict, ahead.
Also, one-on-one with Sarah Palin. We're going to hear what she said when she was asked if she is ready not only to be vice president but president. You are watching the "Most News in the Morning."
(COMMERCIAL BREAK)
CHETRY: Welcome back to the "Most News in the Morning." It's time to check in with the "Truth Squad." Our Alina Cho is keeping the Barack Obama campaign honest about its claims that John McCain's role in a 1980's banking scandal. Alina joins us this morning to take a look at this.
Hey.
ALINA CHO, CNN GENERAL ASSIGNMENT CORRESPONDENT: Always watching both sides. Kiran, good morning again. Good morning, everybody.
The Obama campaign unveiled a Web site this week that highlights John McCain's role in the Senate's Keating Five scandal. Now if you don't remember this, this is the scandal in the 1980's that touched off a financial crisis not unlike the one we are facing today. Now take a look Here's the background. McCain and four other senators were accused of trying to protect a corrupt businessman named Charles Keating from regulators. On the Web site, the Obama campaign alleges, quote, "McCain intervened on behalf of Charles Keating with federal regulators tasked with preventing banking fraud and championed legislation to delay regulation of the savings and loan industry -- actions that that allowed Keating to continue his fraud at an incredible cost to taxpayers."
True? Well, here are the facts. Charles Keating was, indeed, convicted of swindling customers of its Lincoln Savings and Loan at a cost to taxpayers of about $3.4 billion. That triggered the savings and loan collapse of the 1980's. CNN has reported that Keating was a friend of John McCain's and an early financial supporter and McCain did, in fact, co-sponsor legislation that would have delayed regulating the savings and loan industry.
McCain also wrote several letters to government officials calling the regulations, quote, "unwise." Now it is important to note that Senator McCain was cleared of any criminal wrongdoing. Instead, he was reprimanded by the Senate Ethics Committee for poor judgment.
So, the question, is the Obama campaign correct when it says that John McCain intervened on behalf of corrupt businessman Charles Keating to push for a delay in savings and loan regulations? The "Truth Squad" on this one, the verdict, true.
So, 28 days before the election, Kiran, the mudslinging continues. It gets sort of more heated, more negative. All the more reason for the "Truth Squad" to be out watching.
CHETRY: All right. Thanks so much, Alina.
CHO: You bet.
ROBERTS: We have a brand-new interview with vice presidential candidate Sarah Palin, including her reaction to what she calls hits from the media and what she would do to help the middle class as part of a McCain-Palin administration.
And it is issue number one, the economy. CNN's personal finance editor Gerri Willis answers your questions live. Still time to send one in this morning. Head to cnn.com/am.
(COMMERCIAL BREAK)
ROBERTS: Welcome back to the "Most News in the Morning." John McCain's running mate, Sarah Palin, taking aim at Barack Obama during a stop in battleground Florida. Palin talked about the fight to win over Middle America.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: What is it that John McCain and Sarah Palin will do for the economy that's going to be great for the middle-class Americans? GOV. SARAH PALIN (R), VICE PRESIDENTIAL CANDIDATE: Well, for one, John McCain and I have the only track record of bearing this race with proof of reform and making change happen. I've done that in my city as a mayor, in my state as governor. John McCain, of course, is known as the maverick, ready to turn things around and call out even his own party when he must in order to effect positive change.
And you know, the other side is good I think in talking about change but not having that track record of reform. What we're going to do is allow that child tax credit to kick in. What we're going to do is reduce taxes on Americans, cut our business tax. It's the second highest in the world. That's driving jobs elsewhere out of our country. We need to reign in the growth of government, reign in spending there, earmark reform.
We need to absolutely revitalize opportunity for health care coverage for more Americans because it's so unaffordable now. And also, we have got to make our country become energy independent and not see these massive dollars being spend elsewhere overseas in countries some that don't like America very much to purchase energy supplies from them. We should be supplying from our domestic resources here and that's going to create jobs, too.
UNIDENTIFIED MALE: And here we are down to the last few days and you still have critics who have come at you and say things like, she's not ready to be vice president let alone president of the United States. Reassure those people, if you can in this interview, why you are not only ready to be vice president but if called upon, ready to be president of the United States.
PALIN: Yes. Absolutely. And it's not just my executive experience that will be put to good use as a mayor and a governor and a business owner and an oil and gas regulator, and that will be put to good use in an administrative position that I'm seeking.
But even more importantly is a world view that is shared with John McCain, a world view that sees America as a source for good in this world, an America that is a nation of exceptionalism, so much to offer and so much opportunity here and hope here. And what we need to do is allow that opportunity to be seized by the people who live here.
Government not getting in their way, government being put back on their side so that our families and our businesses can grow and prosper and thrive, and John McCain and I so sharing of that world view and how we're going to get there. It's going to be good for this nation.
UNIDENTIFIED MALE: Do you feel you got an unfair shake by the media and the critics who say you're not qualified for this job?
PALIN: The hits that I take from the media, you know, if I can't handle that now. You know, I shouldn't be seeking office. And the hits I take too are nothing compared to some of the hits that some are facing across this nation today when you consider folks who are worried about losing their home or worried about how they're going to pay for their child's health care. Perhaps a family losing a loved one over in the war zone. Those are the shots that matter. So what I'm taking, it's nothing in comparison.
(END VIDEO CLIP)
ROBERTS: Palin also called Tina Fey's impression of her, quote, "a hoot."
CHETRY: Well, the bad economy taking its toll on college kids that cost more, and mom and dad's credit card limit may be lower. We're going to see what impact all these struggling students may have on the election.
Plus, trying to tap voters who love to tap a keg. Sarah Palin going after Joe six-packs. Who exactly is Joe six-pack? We will introduce you to this high-spirited voting bloc ahead on the "Most News in the Morning."
(COMMERCIAL BREAK)
CHETRY: Welcome back to the "Most News in the Morning." When it comes to issue number one, the economy, it doesn't just affect you, for a lot of people, their kids are also feeling the pinch. And young voters in college say the crisis is making it harder to get by on campus. Our Mary Snow joins us live now from Columbus, Ohio, on the campus of O.S.U.
How bad is the situation for the kids when you have been talking to them, Mary?
MARY SNOW, CNN GENERAL ASSIGNMENT CORRESPONDENT: You know, Kiran, enough for them to say that this is a deciding factor in how they'll vote. Some are undecided saying they're waiting to hear what the candidates say over the next couple of weeks and their vote is being heavily courted.
(BEGIN VIDEOTAPE)
SNOW (voice-over): Call it Main Street 2.0. You don't have to look far at Ohio State University's campus to see signs students are worried about the economy. Third year student Kieran Johnson is worried about what kind of job market he'll face.
KIERAN JOHNSON, STUDENT: Graduating hoping I can get something better. I mean, that's what we're all told, to go to school and you know, have a better life after. But at the point we're in now, we don't really know if that's true.
SNOW: For Amanda Kulcar, the concerns are more immediate like the price of gasoline.
AMANDA KULCAR, STUDENT: Even groceries increasing. It's hard to even get essentials like bread and milk had increased to a point that it's almost ridiculous to buy.
PROF. PAUL BECK, OHIO STATE UNIVERSITY: You're scared and they're scared maybe for the first time in their lives. This has been a several decade period of unusual prosperity. SNOW: Political science professor Paul Beck says while these young voters may be scared, they're also enthusiastic about this presidential election. Seizing on that enthusiasm, volunteers saturated the campus to get students to register and vote early, and to see how coveted the youth vote, consider that just a stone's throw from the nation's largest university of nearly 53,000 students is an Obama campaign office.
Team Obama is offering students rides to polling places. Bruce Springsteen even performed at O.S.U. on Sunday to try and drive turnout.
BRUCE SPRINGSTEEN, SINGER: We're also here four years ago. This time we're winning.
SNOW: In 2004, Democrat John Kerry lost Ohio to George Bush by a slim margin. Students for Obama say they believe they'll make the difference for Democrats in this battleground state. On the Republican side, no McCain office on campus, just a couple of table setups. But college Republicans here say Sarah Palin has lit a fire for them.
JONATHAN SNYDER, OHIO COLLEGE REPUBLICANS FED.: Anytime you watch anything, it's all about Obama and the youth vote and how he's got it locked down. And it's not the case. Simply not the case.
(END VIDEOTAPE)
SNOW: And Kiran, last night ended a window where people in Ohio were able to register and vote on the same day. And campaigns are hoping that early voting will help them secure votes from young people who been shown in the past to be eager to register but not always reliable on Election Day.
Kiran?
CHETRY: Yes. Very true. That's the big question. Also off the laugh, I feel officially old. I said to you in the intro -- Mary, what are the kids saying? What are the kids going to do these days? Wow, time flies when --
SNOW: Trust me, I feel very old here.
CHETRY: Yes. We used to be on that campus. Now we visited to find out what the kids are saying. All right, thanks, Mary.
In search of Joe six-pack.
(BEGIN VIDEO CLIP)
PALIN: Let's commit ourselves, just every day American people, Joe six-pack.
(END VIDEO CLIP)
CHETRY: Who is he? And what does he think of the Republican vice presidential candidate?
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: Definitely hotter than Barack Obama, I think.
UNIDENTIFIED MALE: Is that the vote that she's looking for. Those people who drinks six packs of beer?
(END VIDEO CLIP)
You are watching the "Most News in the Morning."
(COMMERCIAL BREAK)
ROBERTS: 26 minutes after the hour. Welcome back to the "Most News in the Morning." Live pictures right now from Belmont University in Nashville. The site of tonight's debate between Senators Barack Obama and John McCain. So what can we expect to hear from the candidates and will there be a lot less rancor on stage than we heard on the campaign trail over the last few days?
Joining me now from Washington, Patricia Murphy. She is the editor of citizenjanepolitics.com. And from New York, John Avlon, registered independent and contributor to Politico.
Good to see both of you. So, out there on the campaign trail in the last few days on the Internet, there's been all of this negativity. William Ayers coming from the McCain side, Charles Keating, coming from the Democratic side. If tonight, Patricia, on stage, in that auditorium, do independent voters want to hear all the negativity?
PATRICIA MURPHY, EDITOR, CITIZENJANEPOLITICS.COM: You know, independent voters don't want to hear that kind of negativity. They don't want to hear these personal attacks. They don't want to hear about anything that they don't think relates to them right now. In a time that really is a personal crisis and a national crisis, they want to hear some solutions. That is the type of thing they've actually gotten very little of from either candidate. Barack Obama right now connects a little bit better with voters. He's also not paying for the sins of George Bush, and that is why John McCain has such a heavy wind coming at him right now that he can turn things around a little bit with this debate. But he's got to start tonight. He's running out of time.
ROBERTS: You know, John, we remember back to that 1992 debate between President Bush and Governor Clinton, and there were negative attacks flying around the hall and that fellow with the ponytail stood up, and he said something to the effect of, you know, when are you going to look after us, the voters, as opposed to looking after the spinmeisters in your campaign. He said something to the effect of, could you make a commitment to the citizens of the United States to meet our needs and we have many, not yours again, and again, and again.
Do you think you're going to be hearing that? Is that going to be the attitude from people who are in that hall tonight? JOHN AVLON, REGISTERED INDEPENDENT: Absolutely. The people in the hall tonight are undecided voters, and they want to hear real solutions to their problems. They don't want us to keep re-litigating the 1960s or have a very divisive distract-driven debate about running to the bottom. They want to see if the two candidates can elevate the debate, connect with the better angels of our nature and provide solutions to the problems Americans are facing. We face big problems right now, and this is no time for us to be small.
ROBERTS: So who would it be -- who does the advantage go to tonight, Patricia? John McCain seem to be very strong in these town halls. But we have not seen an official presidential debate in a town hall format between these two.
MURPHY: That's right. Well, this is actually the exact kind of format that John McCain asked for and challenged Barack Obama to meet him on. And so this is a situation where he is very comfortable when he goes out and campaigns. He's rarely on the stump. He's actually, usually in these town hall formats. He likes (INAUDIBLE). He likes the spontaneous questions. But again, Barack Obama is connecting better with voters right now, and that's the challenge that John McCain has to meet.
I say it will also be fascinating to see just the two of them physically next to each other, side by side, and see how that translates to people in terms of a fresh message or somebody who's dependable and reliable. Those types of messages are important. They're not policy related but they create impressions in voters' minds that I think will also kind of add to the decisions that they're making going forward.
ROBERTS: John, you probably see the results of our new CNN Time Opinion Research Corporation Poll. Wisconsin and New Hampshire which were battleground tossup states are now in the lean. Obama category, North Carolina, which was leaning McCain is now a tossup state. Things appear to be at this moment -- take a look at this snapshot -- breaking for Barack Obama. Do you know why that's happening?
AVLON: Because independents are starting to break back towards Obama, away from McCain. And that's the audience he needs to keep in mind tonight. To really seal the deal, Obama has got to return to his post-partisan rhetoric of the primaries. Really folks on him that he is someone who cannot only has better answers on the problems we faced, but who can unify the country. And John McCain needs to keep size on those folks as well. If he goes negative, it could back fire badly with his audience of independents.
ROBERTS: All right. John Avlon and Patricia Murphy, as always, folks, good to see you. Thanks for coming in today.
PATRICIA MURPHY: Thank you.
AVLON: Thank you.
CHETRY: It is 8:30 right now here in New York. A look at the top stories this morning. We're getting out first look at how Wall Street will open this morning after the Dow closed below 10,000 for the first time since 2004. Most European markets mixed this morning. In Asia, in Japan, closing down more than three percent.
Ebay slashing jobs in an effort to cut costs and streamline its business. The online auction site is cutting a thousand employees worldwide, or about 10 percent of its work force. Ebay also announced its buying online payment service bill me later for $945 million. The company gives users the option of deferred payment.
Also a new study says simply putting a fan in a baby's room can dramatically cut the risk of sudden infant death syndrome or S.I.D.S.. Researchers say that improving ventilation in a baby's room by doing that, the risk was reduced by 72 percent. Still the doctors say the best way to prevent S.I.D.S. is by placing babies on their backs to go to sleep.
On the campaign trail and in last week's debate we heard Sarah Palin talking about Joe six-pack. So who exactly is she referring to? Well, today our Carol Costello begins a four part series called "Voice of the People." She joins us from us Washington and today she went searching for Joe Six-pack. Hey, Carol.
CAROL COSTELLO, CNN CORRESPONDENT: I did, Kiran. You know, I was having dinner in a restaurant a couple of nights ago. A group of people were talking about Sarah Palin's use of the term Joe Six-pack. They were heatedly discussing who the heck that was. And as a gal from middle America, I wondered, too.
(BEGIN VIDEOTAPE)
COSTELLO (voice-over): Politicians love to use labels and Sarah Palin is a champ. Her hockey mom label scored big. And her latest is causing quite a stir.
GOV. SARAH PALIN (R), VICE PRESIDENTIAL CANDIDATE: Let's commit ourselves to every day American people, Joe Six-pack, hockey moms across the nation.
COSTELLO: Hmmm. Joe Six-pack. It refers to someone who buys beer and not champagne. Right? But it is a loaded moniker. To some it conjures up images of rather unattractive fictional slobs like Al Bundy. Or the sexist football obsessed Hank from "King of the Hill." So who was Sarah Palin addressing when she mentioned Joe Six-pack? I mean, who is Joe six-pack anyway?
UNIDENTIFIED MALE: Joe six-pack?
UNIDENTIFIED MALE: Right here.
UNIDENTIFIED MALE: That's Joe Six-pack?
COSTELLO: At Lincoln Financial Field where the Philadelphia Eagles play and fans party, there were plenty of Republicans willing to say that on football Sunday, they become Joe Six-pack. Loud, kind of drunk and in love with Palin.
UNIDENTIFIED MALE: She's definitely hotter than Barack Obama, I think.
COSTELLO: But is that a great reason to vote for someone?
UNIDENTIFIED MALE: I think so.
COSTELLO: Other republicans were more thoughtful, delighting in Sarah's palinisms.
UNIDENTIFIED FEMALE: It makes her seem more of a person that would come out in an event like this instead of somebody who is too busy tied up in Washington.
COSTELLO: But Democrats I talked to have grown tired of palinisms. Joe six-pack was the last straw. Does that resonate with you at all?
UNIDENTIFIED MALE: No, I don't really know what that means. Is that the vote that she's looking for, people who drink six-packs of beer?
COSTELLO: He says the question we should be asking is not who is Joe six-pack or do we really want Joe six-pack in the White House? "Newsweek" magazine put it more bluntly calling Palin's campaign sometime mindless populism. Still analysts say Palin's Joe six-pack shout out resonates with - well, Joe six-pack.
PROF. TERRY MADONNA, FRANKLIN AND MARSHALL COLLEGE: Sarah Palin in a sense being herself articulating the needs and the desires and the wants and the problems of average Americans, that's probably her strongest suit.
(END VIDEOTAPE)
COSTELLO: Who is Joe six-pack? Well, from my un-scientific survey, Republicans think he is the down to earth guy who likes to party. Democrats think he is - well, not so smart. If you want actual science, the Governor's palinisms don't appear to be packing quite the positive punch they once did according to our CNN opinion research poll. The majority of Americans now feel she is not qualified to be president. And Palin's unfavorability rating has doubled since she was named the candidate. Kiran.
CHETRY: All right. What else do you have coming up for us in our series?
COSTELLO: Well, tomorrow we are going to take a look at how race plays especially in swing states like Ohio. You know the numbers have been all over the place there. It's quite the undecided state. And a lot of people think race is the reason why. We'll explore that tomorrow.
CHETRY: Interesting. Good stuff. Carol, always great to see you. Thanks.
ROBERTS: 35 minutes after the hour. Well, perhaps no one knows Joe Six-pack better than Jackie Broyles and Dunlap from Red State Update. You might call them Joe 36 pack. We'll get their unique view on the presidential race just ahead. And all the bad news from Wall Street as lots of you are worried about your money. If you have a question that you want to ask our personal finance editor Gerri Willis, just head to CNN.com/am. She will be answering them live this hour. You are watching "the most news of the morning."
(COMMERCIAL BREAK)
ROBERTS: Welcome back to "the most news in the morning." Carol Costello was talking about this just a few minutes ago. It's been a big topic of discussion since the vice presidential debate. Could the key voting block in this election be Joe six-pack?
(BEGIN VIDEO CLIP)
PALIN: Let's commit ourselves to every day American people, Joe six- pack, hockey moms across the nation.
(END VIDEO CLIP)
CHETRY: All right. Who is Joe Six-pack? Joining us now, two people who should know. Jackie Broyles and Dunlap. From the red state update there in Nashville, Tennessee this morning. We are so happy to have you back. It's been too long since I have seen you guys.
DUNLAP, HOST, "THE RED STATE UPDATE": It has been too long. Quite too long.
CHETRY: Were you out Joe six-packing?
JACKIE BROYLES, HOST, "THE RED STATE UPDATE": Just six-packing around. You know, Joe six-pack, we can't even drink Budweiser anymore because it is foreign owned. You know, the Europeans bought it. We have been auditioning American-made beers.
DUNLAP: You call it auditioning or just getting drunk. That is how we have been spending our time.
BROYLES: Our day, yes.
ROBERTS: So Jackie, who is Joe six-pack? Give us some idea.
BROYLES: Well, Joe six-pack, I say - Dunlap and I, I tell you, we don't (inaudible)
DUNLAP: Yes.
ROBERTS: We figured you guys were at least Joe 36-pack, and maybe 48. I wasn't sure about that.
BROYLES: If I think about last night, yes.
DUNLAP: We had rough night last night.
BROYLES: I will have to count the empties and get back to you.
ROBERTS: It doesn't show, gentlemen. It doesn't show.
CHETRY: You're looking good as always. I tell you that. Jackie, you say Sarah Palin is the best woman have you ever seen since Barbara Mandrell of the Mandrell sisters. What is it that you like so much about her?
BROYLES: Well, I tell you what. What's so nice about Sarah Palin, she's so relatable. I mean, people like myself, I mean, you know, she got a daughter knocked up by some redneck out there, and you know her husband always out there riding around on recreational vehicles. I mean, she is just like every member - you know every woman in my family, yes.
DUNLAP: Except she's successful.
BROYLES: Oh, yes. That's a big difference there.
DUNLAP: A lot of women, live in a dream. I think most women should have fun and relaxing hobby like being vice president to take their minds off their lives.
ROBERTS: Well, you know. Snow machine racer on one hand, and being vice president on the other. You fellows had a town hall meeting there in Nashville last night.
BROYLES: Oh, yes.
ROBERTS: Sort of like a pre-debate town hall meeting. What were the issues that were of importance to people who were there at your town hall?
BROYLES: Well, I tell you what, John Roberts. I don't remember too much. I was drunk. Yes.
DUNLAP: It comes back to me in fuzzy, hazy paces -
ROBERTS: Let's sort of take you back just a step at a time here. What's the last thing you remember from last night?
BROYLES: Well, we kicked the heckler out. Got rid of them. Protesting on the side. Got rid of him.
DUNLAP: Let me tell you about our town hall meeting, John Roberts. We had animal costumes, singing, dancing, a bar.
BROYLES: Oh yes.
DUNLAP: And closing Paul McCartney medley.
BROYLES: You tell me that doesn't sound better what every hour going to put us through here in Nashville tonight. Yes.
CHETRY: I don't think it's going to be the same tonight, for sure. I think it be - it will probably be less pig costumes but -
ROBERTS: In all fairness, though, on a not so long ago "Saturday Night Live," John McCain sang a medley of Barbara Streisand tunes. So maybe we can knock that one out tonight.
CHETRY: How about it?
DUNLAP: I love to hear him singing like you know, "Band on the Run."
BROYLES: Yes.
DUNLAP: I don't know if he could make that rhyme with you know, bomb Iran. He's no weird owl but he's getting there.
BROYLES: Yes, he's working on it.
CHETRY: I want to ask you guys about this as well. We're 28 days now before the election. And we have Barack Obama gaining in states that are traditionally red. You are the "Red State Update." We're talking about Virginia and North Carolina as well. What's going on in your opinion? What do you attribute that surge of Barack Obama in states that President Bush won easily in 2004?
DUNLAP: They made the flip, the Republican ticket. McCain is dragging Palin down. If I have Sarah Palin on the top there, then we wouldn't even be having this discussion.
BROYLES: Sarah Palin would have my vote if McCain wasn't on there. Yes.
CHETRY: What is Barack Obama doing right?
DUNLAP: Well - he is looking more comfortable in the town hall meetings. he rolls his shirt sleeves up. He loosens his tie. You know, he looks uncomfortable. Kind of like the college professor trying to fit in at the frat party. He is getting a little better at that. You know, McCain is loosening up. You know Obama is trying to be more unscripted. When McCain tries to be unscripted, they call it erratic. I'm going to cancel my campaign. No, I'm not. That's erratic.
BROYLES: Yes.
DUNLAP: I don't know if that's good but it is erratic.
ROBERTS: No danger at this point of Tennessee going anywhere near blue. But right next door in North Carolina it has gotten tossup. So, we'll see how things go. Jackie Broyles, Dunlap, as always, good to see you folks. Thanks for being with us this morning.
BROYLES: Good to see you, John Roberts and even you too, Kiran.
DUNLAP: Oh yes.
CHETRY: Thank you very much. Good to see you guys as well.
ROBERTS: Hope you feel better tomorrow.
DUNLAP: Can you see me winking?
BROYLES: I don't know.
ROBERTS: Nobody winks like Dunlap.
DUNLAP: Don't try to filter that with your mass media filter.
BROYLES: Yes.
ROBERTS: Yes, it got out there. Believe me. Thanks guys. We'll see you again soon.
Concerns of the stock prices plunge across the globe. CNN's Gerri Willis logged in and logged on and plugged in. And answering your questions next live on air.
(COMMERCIAL BREAK)
ROBERTS: 15 minutes now to the top of the hour. We are "Minding your Business" and answering your questions about your money with CNN's personal financial editor Gerri Willis who we learned a moment ago is also a Barbara Mandrell fan.
GERRI WILLIS, CNN PERSONAL FINANCE EDITOR: That's right. Not to belabor a small detail.
CHETRY: Things that you have a thing in common with "Red State Update."
WILLIS: Well, possibly so. Let's get to some of these questions though because we are being inundated. Joy in Los Angeles writes "my husband and I are hunkering down to reducing our expenses drastically and paying off all credit cards right now. Should I reduce my 401k contributions right now to help us get out of credit card debt faster?"
I have to say I'm not a fan of this plan. Unless you absolutely know you are going to be losing your job, I would say keep contributing. One thing you might want to think about in addition to what you are doing right now which is all the right moves, really, you got to have some emergency savings. Just in case the worst happens.
Neville in Massachusetts asked "my significant other has bad credit. What would be the best way to boost that up in a time like this where the economy is on a down slope?" All right. The thing you need to know here Neville is that 30 percent of your credit score and your wife's credit score is all about credit cards. How you pay off your credit cards. So you want to automate that credit card payment so you don't miss any. Because the penalty for not making your credit card payment is very high on your credit score.
And secondarily look at the statement itself. Have they changed the amount, the limit that you can charge on that credit card. Because you want to get the charges on that card down below 30 percent of the credit limit. That's going to impact your score. So two steps to take right now on how to improve that credit score.
And Steve in Florida writes and this is by way of an opinion really rather than a question. He says "since the government is bailing out banking and Wall Street with our money, why not help the little guys. We were told invest, invest, invest. 401K was or is the way to go. For those of us in or near retirement, we will never recoup our loss in the market. We already are in retirement. It seems we have no chance at all."
OK. I feel your pain out there, Steve. You are in a group of folks who are getting hit the worst right now. It's going to be very difficult and I have to say there's going to be a lot of people in this category, guys, who are going to have to work longer to make up the difference. You are not going to want to tap this money if you are watching and shrink. You want to see the market rebound at some point. Tough choices for people in this category.
ROBERTS: Well, we saw the same thing in the 2001 market turn out, didn't we?
WILLIS: We did indeed. And this was really tough. Because I know that people out there, they are not just facing 401(k)s that area smaller. You can't get a loan. A lot of things for consumers have gotten worse now. I know a lot of people out there frustrated. But it is going to be time for some tough decisions for people in that age category.
CHETRY: It is. All right. Gerri, we're going to be focusing on that with you throughout the week as well. Thanks so much.
WILLIS: My pleasure.
CHETRY: CNN NEWSROOM just minutes away. T.J. Holmes at the CNN Center with a look at what's ahead. Hey, T.J., good to see you this morning.
T.J. HOLMES, CNN, ANCHOR: Hey there, good morning to you all there in New York. We are going to be continuing some of those things you all have been talking about this morning. Certainly the election. We are, can you believe it, finally a month away, four weeks, until election time. So tonight a very big deal. We will have a preview of the presidential debate. This is number two out of three. We're going to check out also a change in our battleground polls. We certainly see a trend taking place.
Also, a day after the dive. No big rebound expected. But, you know what, we will take a flat line about now. But a lot of hearts still palpitating to see what's going to happen when the markets open in 40 minutes, happening live on our show. Make sure you tune in for that. We'll see what investors are hoping for that could free up that credit market. And also some extraordinary video we are going to show you here.
A woman that was rescued from a burning car. We will show you how police saved her and then what happened immediately after. Again, amazing video we have to show you, a lot more, a lot of politics and a lot about the markets. We get started at the top of the hour. I'm T.J. Holmes who will be sitting here for Heidi. Kiran, we will see you then. CHETRY: All right. We look forward to it. T.J., thanks.
HOLMES: All right.
CHETRY: Well, the eyes have it. Sarah Palin blinks, the blogs go crazy. Our Jeanne Moos takes her own look at how Palin's winks are winding up people on both sides of the political spectrum.
Also powering yourself and your gym. How a green gym uses your muscle to keep the lights on. You are watching "the most news in the morning."
(COMMERCIAL BREAK)
ROBERTS: Welcome back to "the most news in the morning." A new gym in Portland, Oregon, claims that it can help you live green and get fit at the same time. Our Dr. Sanjay Gupta joins us now from the CNN Center in Atlanta with another "Fit Nation" story. Good morning, Sanjay.
DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: Good morning, John. I mean, you do all that work in the gym. Is there some way to take the energy, save it in some way and at a time reduce the carbon footprint as well of the gym. They think so. Take a look.
(BEGIN VIDEOTAPE)
GUPTA (voice-over): Does this gym look a little dark inside? Well, it should because most of the lights are off here at the Green Microgym in Portland, Oregon. Where energy conservation is the name of the game.
ADMA BOESEL, FOUNDER, GREEN MICROGYM: If you think about a regular gym, you go into it. If it is open, all the lights are on and all the TVs are on, all the ceiling fans are on. Even if there is nobody in there. So if there is only one person in here, we are a small gym, that can happen. They only need to use the ceiling fan right above them. So they adjust it themselves. Same thing with the lighting.
GUPTA: That can go a long way towards reducing electric bills. But that's only the beginning. This gym actually creates energy.
BOESEL: People come in and they exercise. And there's energy that is created, if you can capture it and turn it into electricity, then you can use it.
GUPTA: So Adam has retrofitted much of the gym's equipment with special motors that convert the extra energy into electricity. It is stored in special batteries and then used to help power other machines like these eco-friendly treadmills.
BOESEL: We are going for seeing if we can create as much electricity as the gym uses every day.
GUPTA: And in just a few weeks, new solar panels on the roof may help Adam accomplish that goal. But the environmental friendliness of the gym doesn't stop there. This flooring is recycled tire rubber. The toilets are low flow models. Even the toilet seat covers are made from recycled materials. At the end of the day, though, Adam says the most important thing is, he says, is that clients get a good workout.
BOESEL: I think that the main priority for everybody is can I get a good workout? Saving the earth or helping, you know, power the gym, it is going to help people sort of feel like they are part of something.
(END VIDEOTAPE)
GUPTA: Now some people clearly are going to power a little bit more than others, creating more energy than others. But they think this is going to become a model for other gyms around the country. Again, this idea that you do all this work, you're creating all these energy, somehow harness it, John.
ROBERTS: So obviously, the energy effort is going to change depending on how many people are in the gym at any one time working out. But how close is it at to peak periods of powering itself?
GUPTA: Well, you know, what they are trying do, which is interesting, is they have these large batteries. So the amount of energy that's harnessed is stored for the most part as efficiently as possible in the batteries and then used as needed. So it really can be sort of allocated over time.
ROBERTS: Right. And how close are they?
GUPTA: Well, they say within the next couple of years they hope. But you know this is a small gym. It only has about 100 members so far. So the more people that they get in there, they're going to be able to actually to store up these batteries.
ROBERTS: What an interesting concept. Sanjay Gupta for us this morning from Atlanta. With so much electricity being used there, we could never power the whole but we might try.
55 minutes after the hour.
(BEGIN VIDEOTAPE)
CHETRY (voice-over): Everyone is talking about Sarah Palin's eyes. Whether they are welled up with emotion -
PALIN: Some of your signs make me want to cry. Thank you so much.
CHETRY: Or winking at the camera.
PALIN: How long have I been at this? Like five weeks.
CHETRY: Jeanne Moos takes a closer look at the eyes that have America talking. You are watching "the most news in the morning."
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
PALIN: She's a hoot. She's very talented. You know what, looking in your monitor. (inaudible). You know I look like her. You know she's going to wear blue next Saturday night.
(END VIDEO CLIP)
CHETRY: Welcome back to the most news in the morning. All eyes seem to be on vice presidential pick Sarah Palin. That was her talking about Tina Fey on "Saturday Night Live." But you know whether she's winking during the debate or her eyes are welling up with emotion at a campaign rally, our Jeanne Moos talks about how her eyes are the talk of the campaign trail.
(BEGIN VIDEOTAPE)
JEANNE MOOS, CNN CORRESPONDENT (voice-over): She may have earned the nickname, Sarah barracuda with the pit bull of politics, but the moose slayer herself, teared up at a rally Monday.
PALIN: You know, some of your signs just make me want to cry. Thank you so much.
MOOS: Those who don't see eye to eye with Sarah Palin sure seem to be keeping a close eye on hers.
ALEC BALDWIN, ACTOR: She did connect -
MOOS: From Alec Baldwin to Tina Fey, giving a shout out to third graders.
TINA FEY, COMEDIAN: Who were so helpful to me in my debate prep.
MOOS: Sarah Palin winks.
PALIN: How long I have been at this, five weeks?
MOOS: Has eyelids fluttering.
PALIN: I'm going to keep pushing forward -
MOOS: Pushing forward the great wink debate.
MOOS (on-camera): You don't think it might have been a tic?
UNIDENTIFIED FEMALE: Please. Come on. You give her too much credit.
UNIDENTIFIED FEMALE: Sexy, hot.
UNIDENTIFIED FEMALE: She's a nice fresh face. She seems very honest.
UNIDENTIFIED MALE: It's totally fake.
MOOS: While liberals are rolling their eyes over winking, conservatives were raising eyebrows over botox claims. MOOS (voice-over): "The New York Post" ran photos of Democratic VP pick Joe Biden, a couple of years before the debate and Biden at the debate asking is Joe hiding facial work or botox use? A Biden campaign spokesman called it completely untrue and completely stupid.
UNIDENTIFIED FEMALE: That forehead didn't move the entire debate.
VOICE OF TONY BLANKLY, KCRW: The forehead that looks like a baby's bottom. I prefer her winks to his botox.
MOOS: The liberal "Huffington Post" put her four winks to music.
UNIDENTIFIED MALE: Give me that wink.
JAY LENO, HOST "THE TONIGHT SHOW": She kept winking all the time. I thought maybe John McCain had been captured again and she was trying to send some kind of a signal.
MOOS: But when Rich Laurie, editor of the conservative "National Review" seemed smitten by Palin, Bill Maher got laughs just repeating Laurie's words.
BILL MAHER, HOST: He said, I'm sure I'm not the only male in America who when she started dropping her first wink sat up a little straighter on my couch.
MOOS: Which prompted a woman to write in to Andrew Sullivan's blog. "Did she just wink at us like she was America's cocktail waitress?" Or better yet Betty Boop.
BETTY BOOP: If you send me to Washington, I'll get to bite the dough. When I'm the president...
MOOS: For a woman who said she didn't blink when asked to run for VP, she sure is winking now.
BETTY BOOP: Now we'll have a ...
MOOS: Jeanne Moos, CNN, New York.
(END VIDEOTAPE)
ROBERTS: That's going to do it for us. We'll see you again tomorrow. Thanks so much for joining us on this AMERICAN MORNING.
CHETRY: "CNN NEWSROOM" starts now with T.J. Holmes.
