30000 in Charlotte

Obama: McCain wants to deregulate healthcare like banking

In a Sunday speech, Democratic presidential nominee Barack Obama voiced strong disapproval of President Bush's proposal to bail out Wall Street and said he believes his opponent, John McCain, shares responsibility for the economic disaster.

Obama told his audience in Charlotte, NC, voters should not support the $700 billion plan without major reassurances that the burden will not fall heavily on American tax payers. The senator listed six requirements the plan must meet to warrant approval.

"Tax payers shouldn’t be spending a dime to reward CEOs on Wall Street while they’re going out the door," Obama said. "...They [the Bush administration] have run this economy into the ground and we gotta make sure we lift it back up."

Republican presidential candidate John McCain also received chastisement from Obama as part of the problem that led the U.S. economy to a financial meltdown unseen since the Great Depression.

"I do fault the economic philosophy he’s followed during his 26 years in Washington," Obama said. "It’s a philosophy that says it’s OK to turn a blind eye to practices that reward financial manipulation instead of sound business decisions."Calling a "current" article

McCain wrote for Contingencies Magazine the "really scary part," Obama lambasted the Arizona senator for arguing that U.S. health care should be increasingly privatized.The McCain campaign said Obama was twisting the senator's words, but the article does posit the advantages of opening health care to more competition, The Washington Post reported.