Independent U.S. presidential candidate Ralph Nader has decried the $700 billion government bailout of the financial industry.

Speaking Saturday in Waterbury, Conn., the longtime consumer advocate said the bailout gives his third full-fledged presidential campaign a new urgency, the Hartford (Conn.) Courant reported Sunday.

"You know, the thing is so outrageous, it is hard to convey it and keep one's indignation level down," Nader said, adding the legislation provides little accountability or oversight.

"There seems to be no degradation of our democratic processes that will arouse either the media, the commentators or citizens, with very few exceptions," Nader said.

He lashed out at U.S. Sen. Christopher Dodd, the Connecticut Democrat who is chairman of the Senate Banking Committee, for not doing more to oppose the Bush administration proposal.

"He's not fooling anybody. Basically, it remains the Bush bill, with $150 billion of tax freebies," Nader said. "So, when Chris Dodd comes back to Connecticut, I hope that enough taxpayers will summon him to a public auditorium or two so he can explain himself."