It is about time with CNN trying to create the impression that Obama's press conference followed John McCain's:
http://news.yahoo.com/s/ap/20080923/ap_on_el_pr/obama;_ylt=AsKEX7I3zXUFidHXFWmH9sSyFz4D/snip
Obama outlined several principles that he said should be included in the bailout to ensure that troubled financial firms and their executives don't take advantage of taxpayers.
Companies that take financial aid from the government must slash their executives' salaries, he said. Taxpayers must be treated like investors who can share in any Wall Street recovery, perhaps with an ownership stake in the companies that are bailed out, and a new fee on financial services should be created to repay the government aid.
"This plan cannot be a welfare program for Wall Street executives," he said at a news conference.
Decisions on how to spend that $700 billion cannot be left solely in the hands of the Treasury secretary, Obama added. An independent, bipartisan board should "provide oversight and accountability at every step of the way."
Obama stopped short of flatly saying he would vote against the bailout if it doesn't address his concerns. If the proposal falls short, he said, "I will strongly recommend ... that we go back to the drawing board."
Obama repeated his criticism of Republican John McCain's statement last week that the fundamentals of the economy are sound.
"I don't think, actually, the fundamentals of our economy are where they need to be," Obama said. "We've got a leaky boat. We've got to make sure we get that boat into harbor and then we have to do a lot of repairs."
McCain has also called for more oversight of the bailout plan and restrictions on executive pay. His campaign accused Obama of "simply following in John McCain's footsteps. ... Again, Barack Obama has shown indecision and a lack of leadership at a time when the American people need certainty," said McCain spokesman Tucker Bounds.
But Obama laid out similar requirements on Friday. His latest comments added detail but weren't fundamentally new./snip