Obama on Rescue Plan: “No Blank Check”

The Senator releases a “statement of principles” on the proposed financial bailout.

Calls for help for homeowners as well as “an emergency economic plan for working families.” “This should not be a handout to Wall Street.”

Also criticizes the White House response to date: “Thus far, the Administration has only offered a concept with a staggering price tag, not a plan.”

Read his statement here.

Strategist Axelrod: “He believes we have to do something to deal with this crisis and the concept is something he agrees with, but he wants to see it implemented along the lines and principles he’s laid out.”

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