I would like to state, first off, that in some small way I am thankful for the current round of news that is NOT centered around Obama, McCain, or Palin. I was weary of election coverage about a year ago. It will be so good for the election to be over. I would even go hunting with Dick Cheney today if that would stop the election coverage.

Unfortunately, I actually have a topic of concern that does (for once) require the close observation of our two presidential candidates. Strange bedfellows are being made these days. House Democrats teaming up with Bush and Paulson? Even more alarming: House Republicans teaming up with McCain? The individual voter is polling strongly against bailing out Wall Street. I can understand that. I - personally - would love to let them fight their way out of this mess. I was saying loose mortgages were a problem for years before the panic struck. I also wouldn't mind housing prices taking a huge dive by foreclosing that extra demand right out of the market - so there might be a conflict of interest. Nonetheless, our candidates are in a pickle. I think both of them know something bold must be done, and whatever that something bold is that must be done won't be popular with voters. Who will come out explicitly in favor of a rescue plan at the debate tonight? Who will give concrete details of his preferences?

I think that Obama has become a popular movement phenomenon by going light on the details. This guy could sell TV to the Amish, but what is he going to do to earn credibility here? You can't come out at tonight's debate and tell the country that you will throw Wall Street a little "change" and pass a resolution strongly in favor of the judicious use of "hope".

McCain, on the other hand, has a different challenge in two respects. First, his recent tilt toward appeasing the conservative base of the Republican party makes him take up league with those House Republicans I was talking about - people he normally doesn't get along well with even though they are of his own party. They - like the base - are not happy about government taking on these new responsibilities. McCain seems to know they are necessary, though, so what will his proposal be to make the whole plan palatable? Second, how will McCain deal with the fact that Obama has been polling stronger on trust when economic issues are at hand? Isn't the Republican party supposed to be the party of business? What the economy means to the average joe is apparently quite a bit different from what the economy means to big corporate donors. Furthermore, how will McCain regain his traction now that he has flip-flopped on attending the debate? Obama played it cool and steady while avoiding the painful answers. I hope, for the sake of accountability, that they both force each other's hand tonight.

Anxious Morning on Wall Street as Lehman Makes Chapter 11 Filing, Merrill Is Sold, AIG Seeks Cash
U.S. Stocks Trade Sharply Lower in Morning; Oil Sinks

Merrill sold itself to Bank of America and Lehman filed for Chapter 11 as the U.S. financial system was shaken to its core. The government's decision to reject a Lehman bailout touched off a nerve-wracking test of the U.S. financial system.

Dog census breaks down South Bay's penchant for pooches

Silicon Valley's favorite name for man's best friend? It's Buddy. The South Bay's most popular dog is the Labrador retriever. Those are some of the findings of the Mercury News' first ever analysis of more than 40,000 area dog and cat license records.

Crisis on Wall Street as Lehman Brothers Totters, Merrill Lynch Is Sold, AIG Seeks to Raise Cash

Lehman faces the possibility of liquidation and Merrill Lynch sold itself to Bank of America on a day in which the U.S. financial system was shaken to its core.