September 15th, 2008
10:20 AM ET
6 years ago

McCain vows to reform Wall Street

McCain is vowing to reform Wall Street in a new ad.
McCain is vowing to reform Wall Street in a new ad.

(CNN) - Amid the news of major bank failures on Wall Street, John McCain is pledging to reform the nation's financial system in a new ad released Monday morning.

"Our economy in crisis. Only proven reformers John McCain and Sarah Palin can fix it," the ad's narrator states. "Tougher rules on Wall Street to protect your life savings. No special interest giveaways. Lower taxes to create new jobs. Offshore drilling to reduce gas prices."

McCain pressed the message at a campaign event in Jacksonville, Florida Monday morning.

“We will never let this happen again. We will clean up Wall Street. We will reform government," he said. "This is a failure.”

Responding to the ad, Obama campaign spokesman Bill Burton said McCain's pledges do not match his record in the Senate.

“John McCain has been in Washington for twenty-six years and hasn’t lifted a finger to reform the regulations that could’ve prevented this crisis," Burton said. In fact, his campaign is run by some of the very same lobbyists who fought against these regulations and worked to put special interest giveaways in our federal budget."


Filed under: John McCain
soundoff (410 Responses)
  1. Independent-Gurnee, IL

    McCain-stay away from WallStreet. Congress, put the regulations and controls back in placed that have been repealed since the days of Reagan and the previous Republican congress.

    America-forget about the following:
    Social Security
    Healthcare
    Military Expansion
    Strong Dollar
    Medicare
    Education

    24 years of do nothing but divide us Congress (both Rep and Dem) and the GWB foreign policy (ie, WAR) has drained the well. The only way back to fiscal health, ie MONEY that actually has value is to reign in spending immediately.

    Folks this is the truth... there is no more money. The Fed makes up the numbers. There is nothing left in the treasury. Both Obama, McCain, Democrat or Republican party, makes no difference. If the spending is out of control our country has no future.

    Demand accountability from your leaders. Write your congressperson. Get involved. Sitting on Blogs complaining will not help us save ourselves. This country is built for the people, by the people. Stop blaming the politicians. Blame yourselves. Not one American of voting age is without blame for the current situation we are in.

    September 15, 2008 10:59 am at 10:59 am |
  2. If U enjoyed Jimmy Carter, you'll LOVE Obama

    Obama's response might as well have been "PRESENT!!!!". THIS nonsense (just saying "oh no he WON'T!!!") is change we can believe in?

    I think not.

    Hillary 2012

    September 15, 2008 10:59 am at 10:59 am |
  3. JD

    Only the Republicans can save us from the mess the Republicans got us into?

    September 15, 2008 10:59 am at 10:59 am |
  4. Mike

    So, CNN will report the trfiling drama of the View lambasting McCain, and it will print a story about some lame McCain ad suspiciously coinciding with the Lehman announcement, but it won't print a story about Greenspan saying on the View that McCain's tax plan is unaffordable and will only run our economy further into the ground? Now THAT's onjective and ethical journalism.

    September 15, 2008 10:59 am at 10:59 am |
  5. Vivian

    We need Sarah Palin....Sarah! Sarah! Sarah!

    September 15, 2008 11:00 am at 11:00 am |
  6. Ken from Boston

    Reform Wall Street? That's hilarious coming from a member of the Keating 5!

    September 15, 2008 11:00 am at 11:00 am |
  7. Farnk, Las Vegas

    Why did this happen? Simple, Bush and McCain and McCain's so called advisor's, take away all that unneeded regulation, we don't need those watch dogs, etc.

    Take away all the safeguards so the ones at the top can make lots and lots of money. Oh, and the smaller investors, they're on their own, they'll get over it.

    So if you want the same, elect McSame!

    September 15, 2008 11:00 am at 11:00 am |
  8. Doug R.

    John McCain is going to reform Wall Street. Is today April Fool's Day?? Are we supposed to believe that?? He told us all he really doesn't have an understanding of basic macro-economics. He also said there is nothing fundamentally wrong with our economy. Who is this kidding?? Who isn't getting sick and tired of this man telling us lie after lie after lie after lie.

    September 15, 2008 11:00 am at 11:00 am |
  9. JDC // Ohio

    Anybody who believe a political party cadidate out of a corrupt Chicago machine will clean up our problems probably believes in the tooth fairy.

    September 15, 2008 11:00 am at 11:00 am |
  10. Robert

    How do you reform something if your side says you can't touch it because that is evil government regulation?

    Republicans got us in this mess with their economic policies of essentially deregulating and stepping aside and hoping the market is good. To us normal people, this has been a disaster.

    And no, Mr. McCain – we are not whiners, and this isn't a mental recession. Even Greenspan thinks this is the real once in a century deal. and you need to wake up. "Cutting pork" just won't cut it. That is economic small ball, and a waste of our time in a national debate.

    September 15, 2008 11:00 am at 11:00 am |
  11. Patricia

    I would still like to see H. Clinton be the person to debate S. Palin. How can we make that happen?

    September 15, 2008 11:01 am at 11:01 am |
  12. Ex-Republican - Fool me once, shame on you....fool me twice, shame on me.

    Now that he knows the American people want change, he is suddenly the "change" candidate.....sounds like someone who just wants to get elected.....his record proves the opposite....

    September 15, 2008 11:01 am at 11:01 am |
  13. righteousbrother

    okay, mccain is living in an alternate reality. is there anyone out there who's got that balls to call B.S. on this ad?

    September 15, 2008 11:01 am at 11:01 am |
  14. HA

    KEATING 5; LOOK IT UP PEOPLE!!!

    September 15, 2008 11:01 am at 11:01 am |
  15. bruce

    Again, McCain's campaign strikes an effective sounding, problem-solving tone, whereas the Obama campaign response is yet another whining complaint about McCain. This has nothing to do with whether McCain knows anything about Wall Sreet; it does have to do w creating sound bites that speak to voters. I'm worried for Obama.

    September 15, 2008 11:01 am at 11:01 am |
  16. Abby

    Now would be a good time to have an ad where John McCain says he knows nothing about the economy in his won words. Come on!!! Lets see the killer instinct!

    OBAMA BIDEN for Peace and Prosperity 08-16

    September 15, 2008 11:02 am at 11:02 am |
  17. If U enjoyed Jimmy Carter, you'll LOVE Obama

    WWTBCHD?

    What Would The Band Called Heart Do?

    September 15, 2008 11:02 am at 11:02 am |
  18. Palin 2012

    Pumas,

    You need to take your witch Hillary home. Palin is the true American woman. No more kissing up to you. McCain has won

    Palin 2012

    September 15, 2008 11:02 am at 11:02 am |
  19. Obama/Biden 08

    I thought McCain said the economy is in good shape!!!!

    September 15, 2008 11:02 am at 11:02 am |
  20. cevans, tx

    And, who's going to reform YOU McCain? George W. Bush? What a joke...Same old lies and deceptions....You can't even come up with your own platform....It's been so obvious you and the good ole' boys don't care anything about reforming this country...Just selfish, self centered fools....I'm praying for CHANGE!!

    OBAMA / BIDEN '08

    September 15, 2008 11:03 am at 11:03 am |
  21. Obamas Toast

    Obama talked about this crisis months ago. He did just that exactly , talked about it and did nothing, nor did the Democratic congress, and no McCain has some great proposals, and the dems are quick to downplay it. They have done less in 2 years than the Repubs have done in 8.

    September 15, 2008 11:03 am at 11:03 am |
  22. Ruth

    He promised to keep him wedding vowes and we see how he was able to keep that promise. Sorry, but he is an adulterer and I will not vote for him.

    September 15, 2008 11:03 am at 11:03 am |
  23. Richard

    Makes sense. McCain has said that the best economist is Phil Gramm. Elect McCain so he can put Phil Gramm in his cabinet. No one probably knows more about the economic mess than the guy who has contributed greatly to it by fighting his entire career for deregulation of financial institutions.

    September 15, 2008 11:03 am at 11:03 am |
  24. DeniseGA

    Why did CNN leave out the part where TODAY in Florida McSame stated "I still believe the fundamentals of our economy are STRONG"?

    He does not get it and he can't understand because he is filty rich, it doesn't affect him!!!!!!!!!!!!

    September 15, 2008 11:03 am at 11:03 am |
  25. Irma in North Carolina

    Mccain and Sarah cant fix anything they are republicans and they havent fixed a thing in 8 years. So if you believe Mccain vote for him this country really will be in fix.

    September 15, 2008 11:03 am at 11:03 am |
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