McCain 'deeply uncomfortable' with lack of bailout oversight

Sen. John McCain on Monday told voters he was "greatly concerned" about the government's proposed rescue plan because it gives Treasury Secretary Henry Paulson too much power.
"Never before in the history of our nation has so much power and money been concentrated in the hands of one person," McCain said at a town hall meeting in Scranton, Pennsylvania.
The senator from Arizona said that while he admires and respects Paulson, "this arrangement makes me deeply uncomfortable."
McCain said a high-level oversight board should be created to shepherd the government's proposed $700 billion bailout plan.
Sen. Barack Obama also is expected to keep the focus on the economy Monday. He will discuss his plan to reform the "greed and excesses of Washington," his campaign said.
McCain on Monday criticized Obama for not putting up a plan to address the financial situation.
"At a time of crisis, when leadership is needed, Sen. Obama has simply not provided it," he said.
Obama has said he supports the government's bipartisan efforts, but he said he would hold off on detailing his own fix to avoid "partisan wrangling."
McCain said a bipartisan oversight board would be able to "impose accountability and establish concrete criteria for who gets help and who doesn't."
The Republican presidential candidate said the board should be made up of "qualified citizens who have no agenda." He pointed to Warren Buffett, former Massachusetts Gov. Mitt Romney and New York Mayor Michael Bloomberg as potential board members.
Buffett, chairman and CEO of Berkshire Hathaway, supports Obama. Romney backs McCain, and Bloomberg is an independent.