WESTMINSTER--Colorado House Speaker Andrew Romanoff (D-Denver) lauded Barack Obama for "demanding real accountability" in the $700 billion financial bailout bill that failed to pass the U.S. House of Representatives on Monday.

But Romanoff declined to pass judgment on the bailout plan itself, saying he has not "had a chance to sift through the whole package."

Speaking with PolitickerCO.com following Obama's speech at Mountain Ridge High School, Romanoff said that "Senator Obama deserves credit for demanding real accountability in this bill: real oversight and an independent board for all the tax dollars that are being invested, protection for homeowners who are struggling to keep their homes, and accountability for the folks on Wall Street who helped get us into this mess.

"My sense is folks will get back to the negotiating table and see how best to get the majority needed to pass," Romanoff continued. "But this is a big price tag - so cobbling together a $700 billion package overnight or even over a weekend is a tall order.

"Our legislature takes at least three days to pass a bill, and we're dealing with sums that are considerably smaller," he said.