Obama's speech from Dunedin, Florida

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The clock is ticking on this crisis. We have to act swiftly, but we also have to get it right. That means everyone – Republicans and Democrats; the White House and Congress – must work together to come up with a solution that protects American taxpayers and our economy without rewarding those whose greed helped bring us to this point.

So we need to act and act now. This cannot fall victim to the usual partisan politics or special-interest lobbying. But it also can’t be negotiated by the Administration with the same my-way-or-the-highway mentality that is all too familiar.

This Administration started off by asking for a blank check to solve this problem. To them, I say no. It is unacceptable to expect the American people to hand this Administration or any Administration a $700 billion check with no conditions and no oversight when a lack of oversight in Washington and on Wall Street is exactly what got us into this mess. If the American people are being asked to pay for the solution to this crisis, then you have a right to make sure that your tax dollars are protected. That’s why I’ve laid out a few a conditions for Washington.

You can read the full text of the speech here