John Judis over at TNR puts himself in Obama's shoes and describes how he would respond to the financial situation. I think he's spot on.
I would call a press conference tomorrow to discuss the financial crisis. Do it in New York City. Even better, on Wall Street. Begin with a fifteen minute statement outlining why the crisis has occurred and what, generally, the government should do about it. Contrast your approach sharply with that of McCain and the Republicans. Take questions for an hour from reporters. Finally, issue a challenge to McCain to debate the issue by week's end. And offer to allow McCain to bring Sarah Palin and Phil Gramm at his side if he needs them to advise him on the issues.
I particularly like the "take questions for an hour" part. Contrasts nicely. The only potential pitfall? If McCain heads to the Senate the same day and introduces serious legislation to address the failing financial industry. Then Obama looks like a showboat and McCain looks like a serious, pro-active leader.