McCain says Congress must act right away on bailout

WEST DES MOINES, Iowa (Reuters) - Republican presidential candidate John McCain said on Monday Congress should get back to work right away on a Wall Street bailout bill the House of Representatives rejected.

"Now it's time for all members of Congress to go back to the drawing board. I call on Congress to get back obviously immediately to address this crisis," he told reporters.

"I speak to you in an hour of crisis for our nation's economy. I believe that the challenges facing our economy could have a grave impact on every American worker, small business owner and family if our leaders fail to act." he said.

The House of Representatives adjourned on Monday until Thursday after rejecting a $700 billion rescue plan for financial institutions.

(Reporting by Jeff Mason; Editing by Peter Cooney)