McCain strikes the right tone on the bailout

I’ve been critical of the McCain campaign’s responses to the financial crisis. But I have to admit the old boy truck the right tone in his response today. It struck me as genuine and practical. Jmart at Politico has the whole transcript, here are some of my favorite passages:

 

As for me, I am greatly concerned that the plan gives a single individual the unprecedented power to spend $1 trillion – trillion – dollars without any meaningful accountability. 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. When we are talking about a trillion dollars of taxpayer money “trust me” just isn’t good enough. 

We will not solve a problem caused by poor oversight with a plan that has no oversight. Part of the reason we are facing this crisis is an antiquated regulatory system of uncoordinated agencies that haven’t been doing the job. 

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