SCRANTON, Pa. (AP) — Republican John McCain called for greater oversight of the Bush administration’s proposed bailout of U.S. financial markets on Monday, saying the massive $700 billion plan being crafted by Treasury Secretary Henry Paulson needed broader supervision. “Never before in the history of our nation has so much power and money been concentrated in the hands of one person. This arrangement makes me deeply uncomfortable,” the presidential candidate said at a rally. “We will not solve a problem caused by poor oversight with a plan that has no oversight.” McCain praised Paulson and said he had spoken to him several times over the weekend.
McCain: bailout plan needs more regulation
By The Associated Press
September 21, 2008