CNN's Crowley: Obama Team Wanted 'Horrific' Wall Street Headlines

Do you think the recent stock market collapse or troubles in the banking system are good news?

Well, according to CNN's Candy Crowley, the Obama campaign does.

On Monday's "Anderson Cooper 360," after CNN senior political analyst David Gergen said "what happened over the weekend with the economy and the bottom falling out of the financial markets...is the opportunity for Obama to seize the momentum back on his side," Crowley actually said, "[J]ust as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street...I mean, this is what they wanted."

I kid you not. The transcript of this disgraceful exchange follows (video embedded right, h/t Steve Malzberg):

DAVID GERGEN, CNN SENIOR POLITICAL ANALYST: But what happened over the weekend with the economy and the bottom falling out of the financial markets -- and we have been saying for some time on this program this is the worst financial crisis since the Depression -- Alan Greenspan said on Sunday the worst economic situation he's seen -- it seems to me that there's a real turning point now, that that momentum on McCain's side is likely to fade. And there is the opportunity for Obama to seize the momentum back on his side. I don't know if he's going to do it or not. He is trying. McCain has an opportunity here as well. But there's no question right now that this -- this really dark economic situation is now going to be -- is going to really -- is going to, I think, blot out a lot of this question about who -- the backing-and-forthing and the advertising, and focus on the issues.

ANDERSON COOPER, HOST: Right.

GERGEN: And that's what -- that's what Obama has wanted to do. He's now got the opportunity.

I think, personally, he's got the critique down, but he still hasn't provided a message about what he would do, nor has he really surrounded himself, in the way he needs to, with the Bob Rubins and the Paul Volckers and the Larry Summers and Laura Tysons, and have them as a tight unit. I think he still has to do that.

COOPER: Candy, no doubt -- very quickly -- on the campaign trail, it obviously played a big role today. You anticipate, in the days ahead, issue number one, it's going to be front and center?

CANDY CROWLEY, CNN: Oh, absolutely.

I mean, listen, just as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street.

COOPER: Right.

CROWLEY: I mean, this is what they wanted. They believe, of course, that the economy is one of their strengths and that they can paint John McCain as George Bush.

Isn't that nice? The nation's banking system is collapsing, and members of CNN are not only discussing how it helps Obama, but are admitting that this is what his campaign wanted.

How disgraceful.

Noel Sheppard
Noel Sheppard
Noel Sheppard, Associate Editor of NewsBusters, passed away in March of 2014.