In the Headlines

"In Candidates, 2 Approaches to Wall Street" (Jackie Calmes, New York Times) - The crisis on Wall Street will leave the next president facing tough choices about how best to regulate the financial system, and although neither Senator Barack Obama nor Senator John McCain has yet offered a detailed plan, their records and the principles they have set out so far suggest they could come at the issue in very different ways.

"As markets reel, the blame game begins" (Jeanne Cummings, The Politico) - The collapse of Lehman Brothers and Merrill Lynch a week after the government takeover of Fannie Mae and Freddie Mac is evoking full-throated cries on the campaign trail for tighter regulation and oversight of the once-swaggering investment banking industry.

"Obama accuses McCain campaign of 'lies and spin'" (Michael Finnegan and Noam N. Levey, Los Angeles Times) - Barack Obama accused Republicans on Monday of using "false advertisements, lies and spin" to distract voters from the major issues in the election.

"GOP pushes for Biden's earmarks list" (Jim McElhatton, Washington Times) - Sen. Joseph R. Biden Jr. is requesting more than a quarter-billion dollars in earmarks to pay for projects in his home state of Delaware in fiscal 2009, but Republicans want to know when he will release the wish lists from the rest of his 35-year Senate career.

On the Morning Shows

Good Morning America - John McCain: "Americans have been betrayed by a casino on Wall St., greedy excess. I warned 2 years ago that this situation was unacceptable. I know how to fix it and I know how to get things done. There's going to be a ripple effect because of the greed, corruption, and excess and we can fix it and I have a strong and robust plan for that."

Today - Joe Biden, reacting to McCain's response to the markets: "Are you going to hire a doctor who's just been convicted of malpractice? What's caused this is the failure to have regulation. Why didn't he do something to help middle class people who are hurting greatly. You haven't heard the words 'middle class' part the words of our opponents. Who has been at the helm the last eight years? It's about time we get a life here and see who's been in charge."

(Greg Bobrinskoy contributed to the Morning Report.)