McCain bows out, gracious to the end

John McCain's Concession Speech:

"I would urge all Americans who supported me, to join me in not just congratulating him, but offering our next president our goodwill and earnest effort … to find the necessary compromises to bridge our differences, to help restore our prosperity, defend our security in a dangerous world … Whatever our differences, we are fellow Americans."

Senator McCain bowed out before a subdued crowd of Republican loyalists who gathered at the sprawling Arizona Biltmore Resort and Spa. It is an artificial oasis of swimming pools, ballrooms and Spanish-style villas that has hosted numerous presidents and celebrities. With a gigantic Stars and Stripes at his back, and framed by the dark profile of Camelback Mountain that looms over the resort, Senator McCain truly could adopt his characteristic phrase "my friends" as he faced reality before an invitation-only audience of staunch allies.

Last night's count confirmed what many observers had been anticipating since the already ailing US economy was further rocked by bank and financial sector collapses, and Wall Street went into a tailspin.

"I call on all Americans, as I have often in this campaign, to not despair of our present difficulties but to believe in the promise and greatness of America. We never hide from history. We make history."

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