I apologize for the quick and brief diary, but I haven't seen this mentioned anywhere yet. From Jonathan Martin at Politico:
John McCain has serious concerns about the Bush administration's proposed $700 billion bailout of financial institutions and will call Monday morning for the creation of a bipartisan oversight board to play a major hand in shaping and administering the plan, according to aides.
more below.....
McCain's move represent the greatest distance yet he's put between himself and the White House on the unfolding financial crisis.
McCain plans to use a town hall meeting in Scranton, Penn., to express deep skepticism over empowering Treasury Secretary Henry Paulson with sole power over what some officials say is a rescue package that could eventually cost $1 trillion "on the basis of not much more than 'trust me..'"
Noting that Paulson could well be out of office in four months, McCain is proposing a high level oversight board to craft guidelines for which institutions would receive federal assistance and to help oversee the distribution of taxpayer dollars.
McCain will suggest it be comprised of members of both parties and specifically mention legendary investor Warren Buffett, an Obama backer, former venture capitalist, Massachusetts governor and GOP primary rival Mitt Romney and New York Mayor Michael Bloomberg, an independent who has not endorsed either candidate.
I'm sure this will be spun as "leadership", but didn't Peolosi already suggest something similar?
EDIT: I just noticed on the front page of Politico it also says:
McCain joins Pelosi in oversight call
As long as it gets spun that way, that's good for the jews as my dad used to say.........