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Ballot Bowl 2008

Following Campaigh Happenings

Aired September 21, 2008 - 16:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

SUZANNE MALVEAUX, CNN ANCHOR: Welcome to CNN "Ballot Bowl." I'm Suzanne Malveaux in Charlotte, North Carolina, only 44 days left before the election. This is really your opportunity to hear from the candidates in their own words, sometimes live, sometimes on tape, but always unfiltered. We have a lot on tap for the next couple of hours. Joining me, my co-host, Jim Acosta in Lady Lake, Florida. Jim, I know there's a certain Republican who's making a debut where you are. Give us a sense of what you're looking at for this hour?
JIM ACOSTA, CNN ANCHOR: Well, Suzanne, we're in a considerably warmer part of central Florida right now where Sarah Palin should be taking the stage behind me momentarily. She comes to this part of Florida at a critical time in this campaign, with just weeks to go before election day, and this race literally locked up here in the sunshine state.

Sarah Palin is hitting this i-4 corridor reaching out to what is traditionally a part of the state where there are a lot of swing voters, a lot of elderly voters who care about entitlements like social security and Medicare. So we expect to hear Sarah Palin to talk about all those subjects including the economy, including the turmoil on Wall Street in just a few moments.

But earlier today we can also mention that John McCain had an event. He was up in Baltimore, Maryland, earlier today addressing a National Guard Convention. He talked about the turmoil on Wall Street and national security issues. Let's get to that right now.

(BEGIN VIDEO CLIP)

SEN. JOHN MCCAIN (R), PRESIDENTIAL CANDIDATE: Our nation faces many challenges. We've all watched the crisis on Wall Street this week. I'd like to just say a few words about that for just a moment. Last Friday I proposed a plan for comprehensive reform of the broken institutions that allowed this crisis to become a grave threat to our economy.

At the center of the plan is the principle we must keep people in their homes and safeguard the life savings of all Americans by protecting our financial system and capital markets. Senator Obama has declined to put forth a plan of his own. The time of crisis when leadership is needed, Senator Obama has simply not provided it. We saw the same lack of leadership on Iraq. Because of the sacrifices and perseverance of all the troops active duty, guard and reserve, victory in Iraq is in sight. My friends, thanks to you and thank god for it. (cheers and applause) My opponent, Senator Obama likes to say the surge in Iraq was more successful than anyone could have predicted at the time. He said the surge exceeded, "beyond our wildest dreams." That's his way of saying that it took him by surprise. And to this day Senator Obama still can't blame himself to admit his own failure in judgment. For a guy who talked so much about hope, he didn't hold out much hope for victory in Iraq. Instead he creates the greatest error of insisting that even in hindsight he would oppose the surge. Even in the retrospect he would choose the path of retreat and failure for America over the path of success and victory.

Behind all of these claims in positions by Senator Obama lie the ambition to be president. What's missing is the judgment to be commander in chief. In short, both candidates in this election pledge to end the war and bring our troops home. The great difference is that I intend to win it first.

(END VIDEO CLIP)

ACOSTA: So there you have John McCain, not only talking about the economy, but obviously because he's in front of a military audience there in Baltimore, touched on national security issues, taking Obama to task on the surge pointing out that Barack Obama said himself that the surge has succeeded beyond his wildest dreams. And of course, John McCain likes to say he was for the surge before George W. Bush was for the surge.

But as you well know, Suzanne, we've heard Barack Obama counter this claim in recent days, in recent weeks saying that he was the one who was right about Afghanistan, that Barack Obama was the one he says who was right about Afghanistan and that we shouldn't have taken our eye off Al Qaeda and Osama Bin Laden in Afghanistan. So I'm sure we're going to be hearing this tit for tat as we head into these last 44 days of the campaign, Suzanne.

MALVEAUX: Absolutely, Jim. And one of the things Barack Obama is emphasizing here in North Carolina, he's really talking about the economy. They believe they've got a good shot at perhaps winning North Carolina which really some people think is a long shot. It has gone republican since 1980. The reason they think this is true is because 22 percent, 22 percent of the voters are independent.

So what is Barack Obama doing? He is specifically reaching out to them. He is talking to them about the financial crisis in the way that he believes that he will be able to fix the economy, the way he believes that John McCain will not. Take a listen. This was just moments ago in Charlotte.

(BEGIN VIDEO CLIP)

SEN. BARACK OBAMA (D), PRESIDENTIAL CANDIDATE: As of now, the Bush administration has only offered a concept with a staggering price tag, not a plan. Even if the U.S. Treasury recovers some or most of its investments overtime, this initial outlay of up to $700 billion is sobering. And in return for their support, the American people must be assured that the deal reflects the basic principles of transparency and fairness and reform. We can't allow this to happen again.

They have run this government into the - they have run this economy into the ground. We've got to make sure that we lift it back up. But we've got to have some rules in place to make sure it doesn't happen again. (cheers and applause) First, there must be no blank check when American taxpayers are on the hook for this much money. Second, taxpayers shouldn't be spending a dime to reward CEOs on Wall Street while they're going out the door. (cheers and applause) Third, taxpayers should be protected and should be able to recoup some of this investment.

Fourth, this plan has to help homeowners stay in their homes. Fifth, this is a global crisis, and the United States must insist that other nations join us in helping secure the financial markets. Sixth, we need to start putting in place the regulations, the rules of the road that I have been calling for for years to prevent this ever happening again. (cheers and applause) And finally, this plan can't just be a plan for Wall Street. It has to be a plan for Main Street.

We can't just have a plan for the banks. We've got to have a plan for Dolores. We've got to have a plan for you and you. We've got to have a plan for the person who has lost their job, a plan for the person who has lost their home, a plan for the young person who is trying to afford to go to college. We have to come together as Democrats and Republicans to pass a stimulus plan that will put money in the pockets of working families, save jobs and prevent painful budget cuts and tax hikes in our states.

(END VIDEO CLIP)

MALVEAUX: Barack Obama outlining the principles of any type of economic bailout plan that he believes would be satisfactory to taxpayers, to the American people what he would support. A spokesperson today saying that he has been working the phones for the last 48 hours, not only on the phone with Treasury Secretary Henry Paulson, but also the democratic leadership as well as Bill and Hillary Clinton, trying to make sense of all of this and what is the best way to get us out of this financial crisis.

Now we're also hearing from his running mate Joe Biden. Joe Biden out of Castlewood, Virginia, on Saturday. He is going after John McCain over what he calls or claims are inconsistencies when it comes to his stand on deregulation, whether or not these financial institutions and even whether or not the health care system should be regulated or deregulated, whether or not it should be controlled by kind of the free market forces. Take a listen.

(BEGIN VIDEO CLIP)

SEN. JOE BIDEN (D), VICE PRESIDENTIAL CANDIDATE: You saw how they turned the keys over to the corporate community. You see what's happening on Wall Street right now. Take a look at what's happening on Wall Street. All of the sudden after eight years, these guys are going, oh, my goodness, there's greed on Wall Street. Yo? Yo? Where have you been John McCain, god love you, as my mother would say. Ladies and gentlemen, ladies and gentlemen, what has this been all about? The same thing you saw before Sago, the same thing you saw before Boucher got a new bill passed and we still have more to do it, my safety. What happened? What happened was we cut all these regulations. These regulations were all talked about as being bad, the regulations that saved our lives, protected our savings, protected our interest. And now - and I want to read something to you, I'm not going to take much longer because you all have heard some really good speakers before me. Here is what I want to read to you.

This is something John McCain wrote that came out just a week ago. Here is what he said. And now, you know, you saw the meltdown going on Wall Street. You see the whole world worried about what's going on now in terms of the economy. And you also saw that John - John McCain now says that he wants to change it. But here is what John McCain wrote in the publication that came out a couple days ago.

He wants to do for health care what he did for the banks. Here's what he says, and I'm quoting. "Opening up the health insurance market to more vigorous nationwide competition as we have done the last decade for banking would prove and provide more choices for innovative products and less burden by the worst of the excessive state regulations. Translated, get rid of the regulations, get rid of the protection and hang on to your health insurance. Ladies and gentlemen, this guy is has not learned anything. I'm not joking. I'm not making this up.

(END VIDEO CLIP)

MALVEAUX: You're listening to Joe Biden and Barack Obama earlier making the case they don't believe that John McCain really would reform the system or change very much. Jim, both of them talking about the health care system as well saying they would - John McCain and Sarah Palin would partly, at least want to privatize social security. The McCain camp saying they're simply trying to scare those senior voters. Obviously this is something that you guys have been paying very close attention to.

ACOSTA: That's right, Suzanne, the McCain campaign is accusing Senator Obama of entitlement, fear mongering. As you mentioned, talking about this subject of whether or not social security should be privatized. And we're going to be hearing about that, some of that later here on "Ballot Bowl." But Sarah Palin is going to be here in less than 30 minutes from now. She's scheduled to be here in less than 30 minutes. And as you know, she has been the star of the GOP show. We have sort of an S.E.C. football atmosphere here in central Florida right now.

We're seeing a lot of t-shirts that say is "Palin's pit bulls." I just saw a button and this is not me talking, it's the button talking, "hot chicks vote republican." So this is certainly Sarah Palin's audience. She should be here in just a few moments. But earlier this week in Green Bay, Wisconsin, she was up in front of a crowd up there and was talking about the issue of reform, making the case that she and John McCain are the true candidates of reform. Here is Sarah Palin in Wisconsin. (BEGIN VIDEO CLIP)

GOV. SARAH PALIN (R), VICE PRESIDENTIAL CANDIDATE: First I want to tell you that I'm going to help lead a reform effort. John and I are the only candidates in this race with a track record of actually making change happen, and our opponents, he likes to kind of point the finger of blame but ask has he ever lifted a finger to help. (cheers and applause) Has he ever reached out a reformer's hand to the other side of the aisle?

UNIDENTIFIED MALE: No.

PALIN: In order to get others to say yes to change, has he ever told his own party no? When it comes to reform, has he ever once said "we did" instead of "I will?" Now earlier today, our opponent told his supporters to go out and argue with those who disagree with him. He told them to get in your face. And, you know, that doesn't sound like the politics of hope or the politics of change to me. (cheers and applause) What that sounds like is the worst of politics.

And earlier today when some protesters in another rally, they tried to do exactly that. John McCain said, and I quote, "the one thing that Americans want us to do is stop yelling at each other." And now that is leadership. (cheers and applause)

UNIDENTIFIED MALE: John McCain. John McCain.

PALIN: OK. The second thing I'll be leading in a McCain-Palin administration is the mission of energy independence. Here in Wisconsin, high gas prices. They're making a full tank at the pump feel like a luxury. And the cost of living is going up. The cost of groceries is going up. Everything is going up. But the value of your paycheck is going down. That's all because of energy costs.

People are blaming Washington for doing next to nothing on this one and they've got that right. Our opponent says he wants to help Americans who are struggling with high energy costs, but time and time again he's sided with special interests and come out against solutions that would help Americans heat their homes and fuel up their tanks and pay their energy bills. And maybe, if he had been the governor of an energy-rich state he'd get it. (cheers and applause)

And maybe if he had been on the front lines of securing our nation's energy independence, then he'd understand. As governor of Alaska I've over seen a very large portion of our U.S. domestic production of oil. And through a heck of a lot of competition and hard work, I've secured agreements to build a nearly $40 billion natural gas pipeline to get our clean, green natural gas down to hungry markets like here in Wisconsin. I know what works and I know that America needs this. We need it.

(END VIDEO CLIP)

ACOSTA: So there you have Sarah Palin up in Wisconsin talking about energy independence, talking about her experience as a governor in Alaska and some of the efforts that she's made to bring natural gas and domestic oil production into the United States and also taking a couple of swipes there - they weren't too subtle, were they, at Barack Obama.

And Suzanne, Barack Obama may have those signs all around him that say "change we need," but John McCain, I can tell you firsthand is running ads in this state saying "change is coming." He has adopted the change mantle for his own and is running with it.

MALVEAUX: And you know what's really fascinating, Jim, is the fact that where that's taking place in the critical battle state of Florida, our own Bill Schneider out of Washington, D.C. is really going to take us to some of those polls and look at those battleground states. Because it seems as if it is still very much a tight race, neck and neck for these two candidates. We'll have Bill Schneider after this very quick break.

(COMMERCIAL BREAK)

MALVEAUX: Welcome back to CNN's "Ballot Bowl." I'm Suzanne Malveaux in Charlotte, North Carolina. I want to bring our own Bill Schneider who is looking at all the polls, trying to make sense of where the candidates stand at this point. There's some key battleground states obviously where they're really battling kind of battling this out at this point, neck and neck. What are you finding Bill when you take a look at Florida where Sarah Palin is today and where Barack Obama was yesterday.

BILL SCHNEIDER, CNN SENIOR POLITICAL ANALYST: Well, remember Florida in 2000? Close, (dipple Chads, hanging Chads, pregnant Chads). It could happen again? Our poll of polls in Florida, which is the average of four surveys recently taken in Florida shows neck in neck, McCain 47, averaging before surveys, Obama 46. So McCain has the narrowest conceivable lead, just one point. Seven percent of the voters are still unsure. And it could come down once again to Florida. That's a state, by the way, that Bush carried in 2004 by a reasonably comfortable margin.

MALVEAUX: And what about Ohio? I understand Ohio is definitely in play this time around as well?

SCHNEIDER: Ohio, if Florida is not the battleground, Ohio is the next biggest battleground state. In Ohio we have another poll of polls. What does it show? My goodness, the same thing, 47 percent for McCain, 46 for Obama, seven percent unsure. Ohio is a crucial state for Republicans. They carried it by a narrow margin in 2004. McCain is barely ahead there in Ohio and oddly, it's the same result as in Florida, and those two, Ohio and Florida are the two largest battleground states.

MALVEAUX: And both of these campaigns obviously campaigning very hard, very tough in Missouri. Are we seeing any movement in that state?

SCHNEIDER: Just one poll in Missouri. But we are seeing McCain ahead by four points in Missouri. The latest standing in a research 2000 poll is McCain 49, Obama 45. Missouri is an important state because it's a bell weather state. Missouri has voted for the winner in every presidential election for the last 100 years except once, in 1956. I don't know what happened then but that's the only time they got it wrong.

So it's an important state and it's usually pretty close. But what's interesting is McCain is ahead, even slightly ahead in all three of these battlegrounds, Missouri, Ohio and Florida. But he's not ahead in any of them by as big a margin as the Republicans won those states by in 2004. So Republicans, while they are - take comfort in the fact that McCain is ahead, he's not ahead in as big a margin as Bush won four years ago.

MALVEAUX: And Bill, I think a lot of people are wondering here, they took a look at these polls and the think is this really reflective of what we're going to see two months from now? Or could everything possibly change here? How reliable are these polls right now?

SCHNEIDER: Well, we have these events coming up in the next month called debates. A lot of people reserve judgment. They want to be fair. They want to watch the candidate debates. Debates are kind of a re-start button for the campaign. OK. I'm going to put all my pre- conceptions aside. I'm going to look at these two candidates for president or vice president side by side on an equal basis. And then a lot of people say that's when I'll make up my mind finally and for sure. So you can't really trust polls until after the debates are over. And that's a month from now. Suzanne.

MALVEAUX: All right. Well, thank you so much, Bill. And obviously we're looking forward to that first presidential debate that's going to happen Friday evening. You'll be able to watch it live on CNN. It should be fascinating to see these two candidates really square off and head off at one another on these various issues.

And of course, the first issue, "Issue number one" for so many voters has been the economy. And really what happened this past week, the financial crisis and this huge bailout effort by the federal government in the tune of some $700 billion. It was just yesterday that we heard from Barack Obama out of Jacksonville, Florida, addressing the financial crisis, some of the principles that he believes need to be put in place to help the American taxpayers. Take a listen.

(BEGIN VIDEO CLIP)

SEN. BARACK OBAMA (D), PRESIDENTIAL CANDIDATE: We've got an immediate crisis in the financial markets. And the other day I laid out a few principles for a plan that would establish real and permanent solutions to our economic crisis. We have to make sure that whatever plan our government comes up works not just for Wall Street, but for Main Street. We have to make sure it helps folks cope with rising prices and sparks job creation and helps homeowners stay in their homes. That's the kind of help folks need right now.

We have to make sure that any plan we come up with is temporary and restores tough oversight and accountability on Wall Street. We've got to have regulations in place that make sure that people are doing the right thing. And that we curb some of the risk taking with other people's money that ends up causing such enormous damage in the financial markets. I want to make sure that we're not rewarding some of the very CEOs who helped cause this mess. We're not going to stand for that.

But if we're serious about putting our economy on firmer footing and lifting up our hard-working families, there's more changes we've got to make. We've got to restore opportunity for all Americans. There's a big storm going on in Wall Street, but there's a quiet storm out here in Florida. A quiet storm of folks who are being foreclosed on, quiet storm of folks who see their plants close and pink slips passed out and they lose not just their job but their health care, their pension. They lose their sense of dignity, their ability to support a family. There are all kinds of young people out here who have the grades and the will to go to college but just don't have the money. They need help.

I know something about getting help. My grandfather fought in Patton's army. But when he came home from World War II, he got a G.I. bill that allowed him to go to college. My mom was a single mom, raised me and my sister. Sometimes when she was going to school and working at the same time, we had to get some food stamps just to keep some food in the house. But you know what, with that little bit of help she ended up getting her Ph.D.. She ended up sending me and my sister to some of the best schools in the world.

That's what this country is about. And that's what this election has to be about, to get our economy regrowing, we have to recapture that fundamental American promise that, if you work hard, that you can pay your bills, that if you get sick, you won't go bankrupt, that your children can get a good education, that we can leave a legacy of greater opportunity to future generations. That's the change American people need. That's why I'm running for president of the United States of America.

(END VIDEO CLIP)

MALVEAUX: Barack Obama yesterday really outlining some of his personal story, his own biography, in part, to connect with those talking about the economic crisis, his own family situation and also to counter what the story line has been from the John McCain camp, that he is out of touch or elitist.

And Jim, obviously that is only part of the story, Barack Obama also going after John McCain for what he says is 26 years in Washington, backing an economic philosophy, policy, if you will, that he says has failed the American people. Jim.

ACOSTA: Well, Suzanne, we heard John McCain take it to Barack Obama earlier this week with respect to this financial turmoil on Wall Street, and he was up in Wisconsin earlier this week sounding very much like a fiery populous. This is not the John McCain that we've seen in recent years. John McCain has been a strong supporter of deregulation in the past. But this week he called for the firing of S.E.C. chairman Chris Cox and sounded so much the populous that even the "Wall Street Journal" took John McCain to task and compared him to Al Gore back in 2000. But John McCain, nonetheless, is changing course to a certain extent on this issue. And we heard some of that earlier this week in Green Bay, Wisconsin. Here is John McCain.

(BEGIN VIDEO CLIP)

SEN. JOHN MCCAIN (R), PRESIDENTIAL CANDIDATE: I've taken on my own party, I've even from time to time taken on my own administration. Senator Obama has never made the kind of tough reform we need today. His idea of reform is what his party leaders in Congress order him to do. We tried for bipartisan ethics reform, and he walked away from it because his bosses didn't want real change. I know how to make that change and Senator Obama and this Congress is afraid of - I fought both parties to shake up Washington, and I'm going to do it as president of the United States. (cheers and applause)

A vote for me will guarantee that the forces that have brought down our economy will be out of business. I will end the corrupt practices on Wall Street and back-room deals in Washington, D.C.. I will hold accountable those responsible for the oversight and protection of consumers, taxpayers and homeowners. A vote for Senator Obama will leave this country at risk during one of the most severe challenges to America's economy since the Great Depression, and that's straight talk, my friends. (cheers and applause)

You see when it comes to growing the economy and protecting you from the corruption of Wall Street and Washington, Senator Obama just doesn't get it. Americans have had enough of business as usual. Americans have had enough of the cozy relationships between politicians and power brokers. The days of me-first, country-second will end on November 4th with me and with Governor Sarah Palin. (cheers and applause)

UNIDENTIFIED MALE: John McCain. John McCain.

MCCAIN: We've already made the tough choices that make us unpopular in our party from time to time. I was not elected Ms. Congeniality this year in the United States Senate. We'll never forget who we work for. We work for you. [Cheers and applause].

That's how we see this election, country first or Obama first.

(END VIDEO CLIP)

ACOSTA: And there you have John McCain vowing to get tough on the greed and corruption on Wall Street. We should know right now that Sarah Palin; the governor of Alaska, vice presidential running mate for John McCain is on stage right now here in the Villages in Florida. This is a big retirement golf Mecca, and she is joined on stage by her husband, the so-called first dude, Todd Palin. We'll let her get through some of her hellos, we will take a quick break and come back and hear more from Sarah Palin. That is coming up after a break. This is BALLOT BOWL here on CNN.

(COMMERCIAL BREAK)

ACOSTA: Welcome back to BALLOT BOWL '08. I'm Jim Acosta in the Villages, Florida. On the stage right now behind me, the governor of Alaska, Sarah Palin, she has been the star of the GOB Show for a couple weeks. But in the last week or so has had to face questions regarding that trooper scandal in Alaska, and has seen her private e- mail account get hacked and posted online. She is here in this critical part of Florida to rev up the crowd out here. It is a big one. She's been credited withdrawing huge audiences for McCain and she has done that today. So without further ado, let's get to Sarah Palin, talking about who the real reformers are in this campaign.

SARAH PALIN (R) VICE PRESIDENTIAL CANDIDATE: These problems started with corruption and manipulation in the whole mortgage system. Two years ago there was one man who stood up and warned us about the problems at Fannie Mae and Freddie Mac. It was John McCain. He told Congress. He warned Congress that we need to do something before these problems became a crises. But Congress did nothing, and now Americans are paying the price. It was just the other night we were at a town hall meeting, John and I heard from a college student who couldn't afford the health insurance that she needed, and we heard from a doctor just out of med school, a quarter million dollars in school loan debts, and citizens worried about wasteful earmarks and Congress's wasteful spending.

We heard from them as I'm sure we'd hear from you that times are hard, Americans are caught in kind of a perfect storm of high taxes and high gas prices and a waive of greed on Wall Street and a shortage of courage in Washington, D.C. Let me just say this is America and we will get through this because America -- [cheers and applause] -- the best nation on earth and America, with the best workers in the world, it will be American's hard work and their spirit that will usher in a knew era of prosperity. But we need real leadership in Washington to help American workers turn today's challenges into tomorrow's opportunities.

We need serious reform on Wall Street, and we need better regulation, and it's like Senator McCain said just yesterday, we don't need a dozen federal agencies doing the jobs badly. We need the best agencies doing the job right. [Cheers and applause] This week when the economic crises threatened the livelihood of millions of Americans, John McCain took a clear stand and he offered his own recovery plan. Our opponent refused to even take a stand on the position. And that's a lot like his tenure in the Illinois state legislature where Barack Obama voted present about 130 times.

This week he voted present on the major economic issues of the day, and that is not leadership, America. It's not leadership Americans can afford. The problems in Washington and on Wall Street are hurting people on Main Street. We need a president who will act quickly to help American workers. We need a president who will stand up for small business owners. Small business owners like in my family, Todd and I and our commercial fishing business. And my sister and her new service station that they just opened up. And Todd's parents, they own a hardware store. Small businesses all around America. Its small businesses that create the jobs in this great country. [Cheers and applause]

The best way to help them, government, is to take less from them and leave more for so them so they can expand, they can grow and prosper and thrive. Now, our opponents disagree with this. They have some kind of strange ideas about raising taxes at a time like this even. To our opponents, their massive tax increase is about, they quote, patriotism. They said that just this week, that paying more taxes is patriotic. Now, to the rest of America, raising taxes is about killing jobs and hurting small businesses, making things worse. This isn't about patriotism. It's about Barack Obama's poor judgment [cheers and applause]

He wants to raise income taxes and raise payroll taxes and raise investment income taxes and raise the death tax and raise business taxes. He wants to raise taxes by hundreds of billions of dollars, and that will make today's bad economy seem like the good ol' days. It's in this race where there is one man of action one proven reformer who will clean up Wall Street and bring tax relief to hard-working taxpayers and small businesses around this nation.

Truly there is only one man with the wisdom and experience to fix our economy, and that man is John McCain. John and I think it's time to put government back on the side of the people. Now, that's what I've done up there in Alaska. As mayor first I eliminated personal property taxes and small business inventory taxes and taxes that were hurting our private sector. We had a self tax and I saw property taxes were too high, so every year in office I reduced that mill levee. Then as governor, I used the veto pen. I cut nearly half a billion dollars in excess spending, and we suspended our state fuel tax.

And today our state has a surplus and I'm returning a chunk of that surplus right back to the people of Alaska. And you know why. It's because they can spend their money better than government can spend it for them. As a mayor and governor, I have always known who it was whom I was serving. I was held accountable to the people who hired me, the people of Alaska. And in a McCain-Palin administration, I promise you we will never forget that we are there to work for you, the people of America.

ACOSTA: There you have the governor of Alaska, Sarah Palin talking about who the real reformers are in this race. She took Barack Obama to task on this issue of the financial crises and said only John McCain has been the one in this race to buck his own party, saying Senator Obama has not done that. And this gentleman standing behind me, typical of the crowd that we're seeing here in the Villages in Florida, the t-shirt reading I kissed a pit bull with lipstick, and I liked it. Very nice.

This gentleman seemed to be wearing this t-shirt with pride. Also we should mention wearing a U.S. navy cap which John McCain would like very much. We'll take a quick break. We also want our viewers know you can continue watching Governor Palin on CNN.com, if you want to continue to watch live coverage of this event. We'll have more on the financial crises coming up after a break. This is BALLOT BOWL on CNN.

(COMMERCIAL BREAK)

WHITFIELD: I'm Fredricka Whitfield in Atlanta. More BALLOT BOWL straight ahead after a look at the latest headlines. Treasury Secretary Henry Paulson is appealing to Congress to bail out the U.S. financial system. He says he wants it to be clean and quick. White House officials have been meeting with members of Congress and hoping to get a $700 billion bailout approved this week. The government would buy up troubled mortgage-related assets. Paulson admits there is considerable risk for taxpayers.

Pakistan today released video of that truck bomb attack that killed more than 50 people in Islamabad yesterday. A surveillance camera shows exactly what happened. Take a look just after the truck crashed through a security gate at the Marriott Hotel. There was a small explosion and then a fire. The main explosion occurred a few minutes later. Among the dead, two U.S. Military personnel and the Czech Ambassador to Pakistan. Experts suspect al Qaeda in yesterday's attack.

And facing possible indictment on corruption charges. Israeli Prime Minister Olmert turned in his resignation today. He will remain in office as interim prime minister for the time being. But former minister Tzipi Livni is expected to be his eventual successor. She's already talking with others attempting to form a coalition government.

History could be made at tonight's Emmy Awards extravaganza. In Los Angeles, CNN Entertainment correspondent Kareen Wynter is live on the red carpet in Los Angeles with the latest details.

Kareen.

KAREEN WYNTER, CNN ENTERTAINMENT: Hi there Fred. Check out the crowd behind me and the big show hasn't even begun. We're live on the red carpet outside the Nokia Theater in downtown Los Angeles. Still a few hours to go before the big show. The celebrities haven't started to arrive yet. Check out the fans. They've been in the stands for hours now, all here hoping to get a shot at their favorite stars.

(UNIDENTIFIED MALE): You leave, can I say something.

WYNTER: Emmy voters are fascinated by mad men and the damages. This year's Emmy's are significant for the rise of basic cable shows.

LYNETTE RICE, ENTERTAINMENT WEEKLY: They're doing the kinds of things that we wish the broadcast networks would do more of. They deserve a place at the table.

WYNTER: "Man Men" and "Damages" made Emmy history by becoming the first basic cable programs nominated in a best series category.

(UNIDENTIFIED MALE): Cable television has come into its own as a place to watch original, scripted programming.

WYNTER: Jon Hamm is favored to win. His nod for playing a brooding ad exec marks another Emmy trend, recognition for dark characters including a serial killer and a chemistry teacher turned criminal.

RICE: Definitely embraces a character that's not the typical cut-out leading man role that you see in broadcast. WYNTER: Experts say another category to watch is outstanding actress in a drama with big screen veterans like Sally Field, Glenn Close and Holly Hunter going head to head.

MICHAEL SCHNEIDER, VARIETY: They're all gravitating towards cable especially. That's where all the juicy roles are now for the older women who have already won their Oscars and are finding that the film world is turning their back on them.

WYNTER: As for best drama, critics say it is a tossup between "Mad Men" and "Lost." Outstanding actor in a comedy is another tight race.

RICE: We feel like Alec Baldwin was robbed, robbed last year. And we would like to see him win this year. Probably his biggest competition is Steve Correll in "The Office."

WYNTER: Talk about competition in another Emmy first. Sunday's show will have no one but five co-hosts who will share the stage. The five are also competing in a new Emmy category this year, outstanding reality or reality competition show host.

There you have it. A glimpse of what to expect tonight. One thing to talk to you about, presenters, there will be dozens of them. Listen to these big names. Lawrence Fishburn who just joined "CSI." Also comedian Jimmy Kimmel who is always a treat. Desperate housewives Eva Langgore (ph), Vanessa Williams, a whole slew of celebrities. Sure to be an exciting night.

WHITFIELD: You're there. A who's who event. Kareen Wynter, thanks so much.

I'm Fredricka Whitfield. More on these stories coming up at 6:00 Eastern right here in the newsroom. More BALLOT BOWL right after this.

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ACOSTA: Welcome back to BALLOT BOWL. I'm Jim Acosta in Lady Lake, Florida. This is an area called the Villages of central Florida, a very big retirement community. Now many of these retirees are heading out of this area because Sarah Palin just wrapped up her speech in front after a big crowd, some estimates of 18,000 tickets sold before this event. Not sure exactly how many showed up. But it was definitely a huge audience for the governor from Alaska. I want to switch it now over to my colleague, Bill Schneider, who is keeping tabs on Joe Biden, that other vice presidential running mate in this race. And Bill, we heard Sarah Palin take Joe Biden to task reminding of what he said the other day, when he said it was a patriotic duty for some to pay higher taxes. Sarah Palin did not let that one get by her today.

SCHNEIDER: No, that's right. Higher taxes so a Republican audience even though Biden specified he meant higher taxes only on the wealthy. We'll hear from Joe Biden, he was speaking in -- this is yesterday in Castlewood, Virginia, which is a surprising battleground state. Notice in his remarks how he addresses the gun issue, trying to reassure voters in Virginia that it's OK to vote for the Democrats. They're not going to take your guns away. (BEGIN VIDEO CLIP)

SEN. JOE BIDEN, (D) VICE PRESIDENTIAL CANDIDATE: We need somebody who cares about health care. We need somebody who cares about whether or not our kids get educated. We need somebody who cares about our pensions. Ladies and gentlemen, take a look. Take a look. By the way, you know, he wants to have new innovative products. Let me translate for you. In the mortgage industry they talked about new innovative products, sub prime mortgages without anybody looking over anybody's shoulder. All these new fancy business terms, about new product.

Well, the new product is bringing down our economy, bringing down the world economy, and we've got a lot of work to do to staunch this bleeding and begin to rebuild. So ladies and gentlemen, when these guys tell you how much they care about you, ask him, what are you going to do for me? I guarantee you; Barack Obama ain't taking my shotguns. So don't buy that malarkey. They're going to start peddling that to you. I've got two if he tries to pull my berretta, he's got a problem.

I like that little over and under. I'm not bad with it. So give me a break. Give me a break. Ladies and gentlemen, look, here is the deal, take a look. Take a look. Take a look at the facts. Take a look what's happened the last eight years. Tell me, as Ronald Reagan said famously more than two decades ago, are you better off today than you were eight years ago? Raise your hand if you are, because I want to meet you. I could walk from here back to Tennessee where we landed our plane and I wouldn't run into a single person who, as John McCain said, thinks the economy is doing just fine, that the Bush years we've made great progress. I wouldn't run into a single person unless I bumped into John McCain.

(END VIDEO CLIP)

SCHNEIDER: Biden is not going to let the voters forget that John McCain said the fundamentals of the economy are strong. They want this economy to be John McCain's economy because he's in the same party as George Bush. Back to Jim Acosta now.

ACOSTA: Thanks Bill, very much. That is why we are hearing Sarah Palin. That is why we're hearing John McCain trying to adopt that mantle of changes calling themselves the real reformers in this campaign. We are going to hear more from these two candidates and the candidates from the Democratic side coming up after a break. With another hour of BALLOT BOWL. Now that is coming up after a break, stick with us this is BALLOT BOWL on CNN.

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