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CHARLOTTE, N.C. – In his first critical remarks about the government response to the financial market crisis, Barack Obama said Sunday that the Bush administration has “offered a concept with a staggering price tag, not a plan.”
“We must work quickly in a bipartisan fashion to resolve this crisis to avert an even broader economic catastrophe,” Obama said at a rally here. “But Washington also has to recognize that economic recovery requires that we act, not just to address the crisis on Wall Street, but also the crisis on Main Street and around kitchen tables across America.
Obama took aim at the three-page bailout plan from Treasury Secretary Henry Paulson, saying the “American people must be assured that the deal reflects the basic principles of transparency, fairness and reform.”
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Obama reiterated the call at his afternoon event in front of more than 20,000 people on the downtown streets here.
Obama once again laid out several principles that he said the deal must reflect: “no blank check” when taxpayers are paying the bill; no tax dollars for Wall Street CEOs; aid to homeowners facing mortgage foreclosures; international cooperation; and regulations “to prevent this from every happening again.”
“They have run … this economy into the ground,” Obama said. “We have to make sure we lift it back up and need to make sure have rules in place.”
http://www.politico.com/news/stories/0908/13704.html
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