Regarding the Bailout plan in general, here’s a summary (per ABC news):
Obama argued the bailout plan should include protections to ensure that taxpayer dollars are not used to further reward the bad behavior of irresponsible CEOs on Wall Street.
The Democratic presidential candidate also wants an independent board of economic wise men and women chosen by Democrats and Republicans to provide oversight and accountability to the plan. Obama argued Treasury Secretary Henry Paulson cannot act alone on this.
Obama also called for a return on any profits made by the government from the plan to taxpayers and argued the plan should provide assistance to help to families who are struggling to stay in their homes.
Obama called for additional legislation — not part of the administration’s $700 billion Wall Street bailout package–- to pass his proposed tax cut for working families.
Does that sound a “tax and spend liberal”? I’m not a fan of the bailout in general, but the suggestions above certainly look reasonable to me.