Obama takes McCain to task on economy

GOLDEN, Colo., Sept. 16 (UPI) -- Democratic U.S. presidential candidate Barack Obama promised Tuesday he would take a proactive role to prevent future financial meltdowns.

Obama also mocked Republican candidate John McCain for proposing a commission to examine the crisis on Wall Street, calling that "the oldest Washington stunt in the book," The Washington Post reported.

Against the backdrop of a Wall Street in chaos, Obama, D-Ill., told a Golden, Colo., audience, "This isn't 9/11. We know how we got into this mess," Obama said. "What we need now is leadership that gets us out. I'll provide it, John McCain won't, and that's the choice for the American people in this election."

He also criticized McCain for not understand the basis for financial problems, and for only recently saying greater regulation was needed, the Post said.

"John McCain has spent decades in Washington supporting financial institutions instead of their customers," Obama said.

McCain's campaign spokesman Tucker Bounds countered that Obama "offered nothing new except for sharp criticisms of the most fundamental elements of the American economy and pessimism about genuine efforts to restore our country's prosperity."