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English / Macedonia
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Obama says rescue plan needs independent oversight
 Washington, September 22 (MIA) - U.S. Democratic presidential candidate Sen. Barack Obama said on Sunday that the Bush administration's $700 billion proposal for rescuing U.S. financial markets must have independent oversight.
"I don't think it can be a blank check," Obama, an Illinois Democrat, said during an interview on financial cable TV channel CNBC.
"We can set up a system where there's an independent overseer, maybe the chairman of the Federal Reserve Bank and the Democrats and the Republicans each appoint somebody to oversee the system," Obama said.
He said the bailout measure that Congress is considering must include provisions to ensure accountability.
Obama would not rule out a transitional role for President George W. Bush's Treasury Secretary Henry Paulson in his administration if elected on November 4.
"I think it's important for us to make sure that those who are currently in charge when it comes to the financial crisis and defense and intelligence, that they are deeply involved in the transition process," he said.
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