Statement by John McCain on the Proposed Financial Markets Recovery Plan

ARLINGTON, VA -- Today, U.S. Senator John McCain issued the following statement on the Treasury Department's proposed financial plan:

"This financial crisis requires leadership and action in order to restore a sound foundation to financial markets, get our economy on its feet, and eliminate this burden on hardworking middle-class Americans. I've spoken with Secretary Paulson and look forward to reviewing the full Administration proposal, as well as any modifications that might emerge in Congressional negotiations. As part of that process, I encourage all parties to consider both the principles and the proposals that I laid out on Friday in my Mortgage and Financial Institutions (MFI) trust plan -- an approach that would proactively resolve troubled financial institutions, enforce discipline on management and shareholders , and minimize the burden on the taxpayer."