WSLS - "Warner, Gilmore's plan to fix the economy"

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WSLS - "Warner, Gilmore's plan to fix the economy"

At the Hotel Roanoke on Tuesday morning, U.S. Senate candidate and former Gov. Jim Gilmore made his case to the Virginia Association of Sheriffs saying, "Let me be clear that I am here to ask for each and every person's vote in this room."
Just an hour before, Gilmore opponent, former Gov. Mark Warner, was in the same building picking up the endorsement of more than 35 Virginia sheriffs.

While accepting their support, Warner said, "Public safety is one of the core services of government. Lots of politicians talk about supporting public safety but the way you are judged is not by your words, but by your actions."

The candidates were busy talking law enforcement while the voters are talking about Freddie and Fannie, Lehmen's and Merrill Lynch. The collapse of those companies and a sinking stock market has both Gilmore and Warner making some dire predictions.

Gilmore called the situation "pretty significant." Warner said, "I think we have a little more rockiness ahead of us."

Both men are happy to place blame for the meltdown, even using the identical language.

From Gilmore: "I think people in Washington were asleep at the switch." And from Warner: "There were a lot of people asleep at the switch in Washington."

So, how would they fix it? In a word: reform.

"I think what we need to do right now is pass new regulations so that there's proper oversight," Gilmore said. "What has happened has happened, but let's not let it happen anymore. Let's make sure that people are properly protected, they can stay in their homes, that we have jobs and opportunities for people and that the public is looked after for a change."

"I think we need to let some of this play out. I'm glad we didn't come in and do a taxpayer bailout of another firm," Warner said. "I think at the same time we need to put together some regulatory reform so that there's more appropriate oversight that will give confidence to the market that it's starting to stabilize."

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