TULSA, Okla. (AP) _ U.S. Sen. Jim Inhofe has come out in opposition to the Bush administration's $700 billion plan to bail out the troubled financial industry.

Inhofe, R-Okla., told the Washington bureaus of the Tulsa World and The Oklahoman that while he did consider the situation a "crisis," he wanted to see more accountability and oversight as part of the plan.

He also said his opposition is based on the size of the plan and the speed with which it is being pushed through Congress.

"Anytime someone is in such a desperate hurry to get something done, I am always a little reluctant to be in the same hurry," Inhofe said. "It usually turns out that it is not a good idea."

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson told senators on Tuesday that economic havoc, including deepening market trouble, would ensue if Congress lags in acting on the administration's proposal to rescue tottering financial institutions.

"I share the outrage that people have," Paulson said. "It's embarrassing to look at this. I think it's embarrassing to the United States of America. There is a lot of blame to go around."

Without the bailout plan, Paulson and Bernanke sketched out a dire scenario for senators at a contentious daylong hearing: Neither businesses nor consumers would be able to borrow money, and the world's largest economy would grind to a virtual halt.

Inhofe remained skeptical.

"There isn't one thing that he offered today in terms of having answers that he didn't have four days ago," Inhofe said of Paulson. "That got my concern a little bit."

Inhofe said he wants "to see some intervention. But this is the wrong intervention."

Inhofe is the first member of Oklahoma's congressional delegation to publicly express opposition to the bailout.

Rep. Dan Boren, the delegation's only Democrat, said he has not yet made a decision on whether he will support the bailout proposal.