For now I will leave the posts on Paulson and Bernanke to those who are more knowledgeable than I. I do want to make a few comments on other subjects.
While others are covering the economy, and doing it very well, I just found another reason a McCain presidency would be a total disaster. It is diplomacy, or lack thereof.
Remember Bush making the absurd statement, "You are either for us or against us." And we know how that turned out -- with the exception of Tony Blair most countries were against us. Now McCain is proudly claiming that he will continue this idiotic policy. Did you notice that Palin is only meeting with the heads of friendly nations? She will meet with close allies of Colombia, Georgia, Ukraine, and Afghanistan.
I may not be the brightest bulb, but even I know that you must meet with unfriendly nations if anything is to be accomplished. It reminds me of what my late husband used to call a "Mother-in-law survey." If you poll 'like thinking' friends you will get the results you want. You need to poll a mixture of ages, demographics, and cultures to get a true reading.
It's a small world after all, to quote Disney, and McCain's policy is antediluvian and simply won't work in today's shrinking world.
While the world is focused on the economy a related issue is being shoved into the background. Privatization is one of the biggest factors causing the economic meltdown and I am including the link to a video by Keith Olbermann regarding John McCain's stand on Health Care. He would like to do to health care what he helped do to the investment community. Beware!
Please take the time to watch it. Keith nails it.