Obama, McCain Duel for Economic Credibility

"It is critical at this point that the markets and the public have confidence that their work will be unimpeded by partisan wrangling, and that leaders in both parties work in concert to solve the problem at hand," Obama said.

Included in the Obama meeting were Wall Street titan Warren Buffett, former treasury secretaries Paul O'Neill, Robert Rubin and Larry Summers, former Fed chairman Paul Volcker, and Laura Tyson, former head of the Council of Economic Advisers under President Clinton. The team also includes Democratic vice presidential candidate Sen. Joe Biden, and Gene Sperling, who was the chief economic advisor to Sen. Hillary Clinton's 2008 presidential campaign.

Obama Signals Support for Government Bailout

In his early morning statement today, Obama also indicated that he will support additional government intervention into the markets and finalize his plan to call for the passage of a Homeowner and Financial Support Act "that would establish a more stable and permanent solution to the crisis."

Obama -- who spoke on the phone with Treasury Secretary Henry Paulson last night -- said he supports the efforts to work with Congressional leadership to solve the crisis, and as he reviews their eventual proposal he will be guided by four principles.

"First, the plan must account for the fact that the country is in an economic crisis that is broad, not just on Wall Street. Second, any taxpayer-funded support must have as its focus protecting the nation's long-term interest. Third the plan must be temporarily coupled with new oversight regulations of financial institutions. And lastly, plan should be part of a globally coordinated effort," Obama said in his statement.

The campaign trail rhetoric this week has been dominated by the economic news – putting the spotlight on both candidates to formulate a firm economic plan.

Obama Seeks 'Measured' Response Today

Obama has been critical of McCain, telling audiences in battleground states this week that while he doesn't blame McCain for the economic crisis, he does blame the hands-off, supply-side philosophy McCain subscribes to.

But the Obama campaign told reporters today the Democratic presidential candidate doesn't intend to offer a partisan attack on McCain today.

An Obama campaign official said voters will see "a measured" Barack Obama today.

"This is a serious situation and people want to see someone who is calm," an Obama official told ABC News.

"Others may be popping off" today, said the campaign official, but Obama will be repeating his economic principles, which the official say are close to what is being considered by Congress and the U.S. administration.

ABC News' Bret Hovell, Alyssa Litoff and Imityaz Delawala contributed to this report.

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