yesterdai __PUNCT__ the presid said that congress should pass hi propos to eas the crisi on wall street without signific chang or improv __PUNCT__
now __PUNCT__ there ar mani to blame for caus the current crisi __PUNCT__ start with the specul who game the system and the regul who look the other wai __PUNCT__
but all of us now have a stake in solv it and save our financi institut from collaps __PUNCT__
becaus if we don't __PUNCT__ the job and life save of million will be put at risk __PUNCT__
given that fact __PUNCT__ the presid stubborn inflex is both unaccept and disturbingli familiar __PUNCT__
thi is not the time for my __PUNCT__ wai __PUNCT__ or __PUNCT__ the __PUNCT__ highwai intransig from anyon involv __PUNCT__
it not the time for fear or panic __PUNCT__
it the time for resolv __PUNCT__ respons __PUNCT__ and reason __PUNCT__
and it is wholli unreason to expect that american taxpay would or should hand thi administr or ani administr a __MONEY__ billion blank check with absolut no oversight or condit when a lack of oversight in washington and on wall street is exactli what got us into thi mess __PUNCT__
now that the american peopl ar be call upon to financ thi solut __PUNCT__ the american peopl have the right to certain protect and assur from washington __PUNCT__
first __PUNCT__ the plan must includ protect to ensur that taxpay dollar ar not us to further reward the bad behavior of irrespons ceo on wall street __PUNCT__
there ha been talk that some ceo mai refus to cooper with thi plan if thei have to forgo multi __PUNCT__ million __PUNCT__ dollar salari __PUNCT__
i cannot imagin a posit more selfish and greedi at a time of nation crisi __PUNCT__
and i would like to speak directli to those ceo right now __PUNCT__ do not make that mistak __PUNCT__
you ar steward for worker and commun all across our countri who have put their trust in you __PUNCT__
with the enorm reward you have reap come respons __PUNCT__ and we expect and demand that you to live up to them __PUNCT__
thi plan cannot be a welfar program for wall street execut __PUNCT__
second __PUNCT__ the power to spend __MONEY__ billion of taxpay monei cannot be left to the discret of on man __PUNCT__ no matter who he is or which parti he is from __PUNCT__
i have great respect for secretari paulson __PUNCT__ but he cannot act alon __PUNCT__
we should set up an independ board that includ some of the most respect figur in our countri __PUNCT__ chosen by democrat and republican __PUNCT__ to provid oversight and account at everi step of the wai __PUNCT__
i am hearten that secretari paulson appear to be soften on thi posit in hi testimoni thi morn __PUNCT__
third __PUNCT__ if taxpay ar be ask to underwrit hundr of billion of dollar to solv thi crisi __PUNCT__ thei must be treat like investor __PUNCT__
the american peopl should share in the upsid as wall street recov __PUNCT__
there ar differ wai to accomplish thi __PUNCT__ includ put equiti into these firm instead of bui their troubl asset __PUNCT__
but regardless of how we structur the plan __PUNCT__ if the govern make ani kind of profit on thi deal __PUNCT__ we must give everi penni back to the taxpay who put up the monei in the first place __PUNCT__
and after the economi recov __PUNCT__ we should institut a financi stabil fee on the entir financi servic industri to repai ani loss to the american peopl and make sure we ar never ask to foot the bill for wall street mistak again __PUNCT__
we can ask taxpay to make an invest in the stabil of our economi __PUNCT__ but we cannot ask them to hand their monei over to wall street without some expect of return __PUNCT__
fourth __PUNCT__ the final plan must provid help to famili who ar struggl to stai in their home __PUNCT__
we cannot simpli bailout wall street without help the million of innoc homeown who ar face foreclosur __PUNCT__
there ar a number of wai we can accomplish thi __PUNCT__
for exampl __PUNCT__ we should consid give the govern the author to purchas mortgag directli instead of simpli mortgag __PUNCT__ back secur __PUNCT__
in the past __PUNCT__ such an approach ha allow taxpay to profit as the hous market recov __PUNCT__
thi is not simpli a question of look after homeown __PUNCT__ it doubt that the economi as a whole can recov without the restor of our hous sector __PUNCT__ includ a rebound in the home valu that have suffer dramat in recent month __PUNCT__
final __PUNCT__ the american peopl need to know that we feel as great a sens of urgenc about the emerg on main street as we do about the emerg on wall street __PUNCT__
i have repeatedli call on presid bush and senat mccain to join me in support an econom stimulu plan for work famili __PUNCT__ a plan that would help folk cope with rise food and ga price __PUNCT__ save on million job by rebuild our school and road __PUNCT__ help state and citi avoid pain budget cut and tax increas __PUNCT__ and help homeown stai in their home __PUNCT__
let me be clear __PUNCT__ we shouldn't includ thi stimulu packag into thi particular legisl __PUNCT__ but as we solv the immedi crisi on wall street __PUNCT__ we should move with the same sens of urgenc to help main street __PUNCT__
it is absolut wrong to suggest that we cannot protect american taxpay while still stabil our market and save our financi system from collaps __PUNCT__
we can and must do both __PUNCT__
in summari __PUNCT__ there is no doubt negoti over the next few dai will be difficult __PUNCT__
i will continu to keep in close touch with secretari paulson __PUNCT__ chairman bernank __PUNCT__ and the leader of congress to ensur that we can work in a bipartisan manner to get thi done as quickli as possibl __PUNCT__
our countri is be test by a veri seriou crisi __PUNCT__
we ar all in thi togeth __PUNCT__ and we must come togeth as democrat and republican __PUNCT__ on wall street and on main street to solv it __PUNCT__
and with the proper spirit of cooper __PUNCT__ i know we can __PUNCT__
