The economic team introduced yesterday by President-elect Barack Obama is considered steeped in fighting crises and likely to push for an unprecedented government role in reviving growth and stabilizing the financial system. New York Federal Reserve Bank President Timothy Geithner was as expected nominated for Treasury secretary, former Treasury chief Lawrence Summers will be White House economic director and Peter Orszag, head of the Congressional Budget Office, will be in charge of assembling Obama’s budget.

President-elect Barack Obama’s quick action to name his economic team was well received by people in the Richmond area business community. “His economic team will hit the ground running with no lag time and some, including myself, believe the team is already working with the existing team,“ said Kent Engelke, chief economic strategist and managing director of Capitol Securities Management.

All presidents are tested. Few walk into the Oval Office when the nation is in the throes of multiple crises. Like Franklin Delano Roosevelt, President-elect Obama is facing a banking emergency. Like Abraham Lincoln, Obama is trying to patch up national divisions. And like Richard Nixon, George W. Bush and others, Obama will be commander in chief over U.S. troops in combat.

Barack Obama told a packed house at the Richmond Coliseum in late October “that change won’t come easy. It won’t come quick. [President] Bush has dug a deep hole.“ Obama drew cheers from some of the overflow crowd of 7,000 when he stopped to address them before going into the Coliseum. Melanie Goodlow (foreground) of Woodbridge says the pledge of allegiance at the start of the rally. Wendy Lucas reacts after watching Obama wave from his motorcade as it drove from The Jefferson Hotel to the Coliseum. Two of Virginia’s most powerful Democrats, former Gov. Mark R. Warner (left) and current Gov. Timothy M. Kaine, joined Obama on stage at the Coliseum rally.

In two years on the campaign trail, Obama walked a fine line, presenting himself to America
as a fresh face and an outsider—but with the knowledge and mettle needed for the White House. CHICAGO It was just before midnight last November when Barack Obama stepped on stage in a darkened auditorium in Iowa, trailing in the polls, taking on one of the biggest names in Democratic politics—and facing a make-or-break moment.

The notes come from young and old and in many languages. “We love you!“ “I came to vote for the first time because of you.“ “The U.S. should be proud.“ Between the Lincoln Memorial and the Reflecting Pool, message boards have been set up for people to write messages to President-elect Barack Obama. The boards were put up Wednesday afternoon by Avaaz.org—avaaz means voice in many languages. The liberal global advocacy group received permission from the National Park Service, said Brett Solomon, campaign director for the New York-based Avaaz.org.

In Richmond yesterday, Democratic presidential candidate Barack Obama defended his running mate but said Joseph R. Biden Jr. is sometimes given to “rhetorical flourishes.“ Obama met privately for 90 minutes with foreign-policy advisers at The Jefferson Hotel, as thousands of his supporters gathered at the Richmond Coliseum for an afternoon rally.
SLIDESHOW

At 1:27 p.m. yesterday, Barack Obama stepped on stage at a jam-packed Richmond Coliseum—and the place burst into ear-pinching pandemonium. The reports about enthusiastic, highly motivated Democrats are not exaggerated. The Obama campaign senses that victory is near—and so do his supporters. The campaign, and the candidate, also seem clearly cognizant about the dangers of overconfidence. The Illinois senator and all the Democrats who preceded him on stage emphasized the need to knock on doors, make phone calls, and—most important—turn out to vote. “Change never comes without a fight,“ Obama told the crowd during his 28-minute stump speech, which delivered the expected lines and the calm hopefulness that have carried this man so far.

Sen. Barack Obama outspent Sen. John McCain 3 to 1 on television advertising in Virginia from Sept. 28 to Oct. 4, according to the Wisconsin Advertising Project. The Democratic presidential candidate spent $2.1 million here, compared with the Republican presidential nominee’s $547,000. The Obama campaign also spent more than $2 million apiece in Florida, Ohio and Pennsylvania, while the McCain camp did not spend that much in any state, according to the report. McCain spent $1.7 million in Ohio.

Amid the red, white and blue bunting, Republican signs festooned the walls of Chad Smith’s South Richmond home last night as about 30 people stood in the den to watch the second presidential debate of the campaign on a flat-screen TV. They cheered when Republican John McCain was introduced by moderator Tom Brokaw and booed—good naturedly—when Democrat Barack Obama was introduced.

NASHVILLE, Tenn.—Barack Obama and John McCain clashed repeatedly over the worst economic crisis in 80 years during last night’s debate. Republican McCain called for a sweeping $300 billion program to shield homeowners from mortgage foreclosure. “It’s my proposal. It’s not Senator Obama’s proposal, it’s not President Bush’s proposal,“ McCain said at the outset of a debate he hoped could revive his fortunes in a presidential race trending toward his rival.

Dear Sens. McCain and Obama, I’m writing on behalf of fund investors everywhere, the kind of average consumers you are counting on to prop up the economy, the type of investors you are asking to stay patient and stay put with the markets, and the taxpayers who are footing the bill for the foolishness that has put the credit markets on the brink of disaster.