POLITICS
11/06/2008 05:12 am ET | Updated May 25, 2011

McCain: Obama Lying About My Economic Record

McCain lobbed attacks on Obama today as the markets were in freefall.

Republican John McCain is calling Democratic rival Barack Obama a liar.

The GOP presidential candidate told a campaign rally: "Sen. Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed."

Read more about the turmoil in the markets today.

It has been another extraordinary and traumatic day on Wall Street, with the Dow Jones industrials plunging as much as 800 points before closing with a loss of about 350.

The catalyst for the frantic selling was investors' growing realization that the credit crisis is likely to take a heavy toll around the world. And while the Bush administration is starting to implement its $700 billion financial rescue plan, that and steps taken by other governments won't be enough to stop the global spread of credit troubles.