John McCain just spoke to the Clinton Global Initiative in New York, where he reiterated that he was suspending his campaign. "The debate right now is taking place at the United States Capitol and I intend to join it. Senator Obama will do the same," he said. McCain then laid out five improvements that must be made to the bailout plan in order for him to support it:
1. Greater accountability through a bipartisan oversight board. “We won’t solve a problem caused by poor oversight with a plan that has no oversight."
2. A path for taxpayers to recover the money put into the fund.
3. Complete transparency as to which businesses will be helped and how much it will cost.
4. A bill with no earmarks whatsoever.
5. No Wall Street executive should profit from the bailout.
This last point was greeted with tepid, obligatory applause by the potential donors gathered here, many of whom made their millions and billions on Wall Street. McCain made no mention of providing help for struggling homeowners, though he did speak about launching an American-led fight against tuberculosis and malaria if he is elected.
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