McCain speaks in Green Bay - WKOW 27: Madison, WI Breaking News, Weather and Sports

McCain speaks in Green Bay

GREEN BAY (AP) -- Republican presidential candidate John McCain says the Federal Reserve needs to get out of the business of bailouts.

  But McCain also said in remarks prepared for delivery Friday in Green Bay that the government has a clear responsibility to act and defend the public interest as the crisis on Wall Street deepens.

  He said in a speech to the Green Bay Chamber of Commerce that he hopes Congress will take action soon to help the country's financial system.

  McCain says he wants to create an early intervention system to help companies avoid bankruptcy and keep people in their homes and protect their savings.

  He's also proposing reforms to prevent financial firms from concealing their bad practices.

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