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McCain calls for TV debate delay McCain calls for TV debate delay
(10 minutes later)
Republican White House hopeful John McCain has said he is suspending his campaign and returning to Washington to help deal with the economic crisis.Republican White House hopeful John McCain has said he is suspending his campaign and returning to Washington to help deal with the economic crisis.
And he called for a TV debate with Democratic rival Barack Obama, scheduled for Friday, to be delayed.And he called for a TV debate with Democratic rival Barack Obama, scheduled for Friday, to be delayed.
Mr Obama is expected to give his response to the request shortly. Mr Obama said he saw no reason to delay the debate as it was important for Americans to hear from the person who would soon be "dealing with this mess".
It comes as President George W Bush prepares to make an unscheduled TV address on the state of the economy in the next few hours. It comes as President George W Bush is to make an unscheduled TV address.
Mr McCain called on the president "to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself".Mr McCain called on the president "to convene a meeting with the leadership from both houses of Congress, including Senator Obama and myself".
"We must meet until this crisis is resolved," he said."We must meet until this crisis is resolved," he said.
The BBC's Kevin Connolly in Washington says Mr McCain is billing his dramatic move as a gesture above party politics at a moment of national crisis.The BBC's Kevin Connolly in Washington says Mr McCain is billing his dramatic move as a gesture above party politics at a moment of national crisis.
But, our correspondent says, it is smart tactics too because it conveys a sense that Mr McCain is taking the lead on an issue where so far voters appear to have been finding Barack Obama more convincing.But, our correspondent says, it is smart tactics too because it conveys a sense that Mr McCain is taking the lead on an issue where so far voters appear to have been finding Barack Obama more convincing.
Mr Obama said a suggestion for a joint statement originally came from his camp, following a telephone call with Sen McCain earlier in the day.
Earlier, US Federal Reserve chief Ben Bernanke urged politicians to "act quickly" to support the proposed $700bn (£378bn) bail-out of the financial markets.Earlier, US Federal Reserve chief Ben Bernanke urged politicians to "act quickly" to support the proposed $700bn (£378bn) bail-out of the financial markets.
He added the US economy risked "serious consequences" if action was not taken.He added the US economy risked "serious consequences" if action was not taken.
Plan doubtsPlan doubts
President Bush's address - expected at 2101 EST (0101 GMT) - will be covered live by the main television networks in the US.President Bush's address - expected at 2101 EST (0101 GMT) - will be covered live by the main television networks in the US.
Mr Bush is likely to seek to persuade US citizens to back his treasury secretary's $700bn bail-out plan.Mr Bush is likely to seek to persuade US citizens to back his treasury secretary's $700bn bail-out plan.
Lawmakers from both parties have cast doubt on Treasury Secretary Henry Paulson's proposal, which was triggered by the collapse of a number of high-profile US banks.Lawmakers from both parties have cast doubt on Treasury Secretary Henry Paulson's proposal, which was triggered by the collapse of a number of high-profile US banks.
Mr Paulson wants to use the money to purchase banks' "troubled assets" in order to reassure lenders and restart the flow of credit on Wall Street.Mr Paulson wants to use the money to purchase banks' "troubled assets" in order to reassure lenders and restart the flow of credit on Wall Street.
Democratic and Republican congressmen have asked for assurances that the plan would benefit ordinary American home-owners as well as Wall Street.Democratic and Republican congressmen have asked for assurances that the plan would benefit ordinary American home-owners as well as Wall Street.
The White House has indicated that it would accept a Democratic Party proposal to cap executive pay as part of the bail-out package.The White House has indicated that it would accept a Democratic Party proposal to cap executive pay as part of the bail-out package.