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. Scott

    Only 51?
    ...there were at least that many against Palin in the 48 hrs after she was picked for VP.

    September 15, 2008 11:11 am at 11:11 am |
  2. Nando, Florida

    He and Cindy are WALL STREET !!! Hello Idiot you have 9 Houses !!! I'm sure he going to reform it he is going to make more money buying hedge funds !

    September 15, 2008 11:11 am at 11:11 am |
  3. Celeste

    The REPUBLICANS, OF WHICH JOHN MCCAIN IS A PART, ARE RESPONSIBLE FOR WHAT'S HAPPENING IN THE ECONOMY. John McCain's administration WILL NOT make things better, because he is just like 'them'. He is so far removed from everyday living, that he doesnt even know how many homes he owns. He said that the economy was fundamentally sound. America, is this who you want to be the next President?

    September 15, 2008 11:11 am at 11:11 am |
  4. Chris

    What's the matter, McSame? Wall Street not corrupt enough for you? You want to reform it a little so that you can make more money off of the death of our economy? No way, No how, No McPalin.

    September 15, 2008 11:12 am at 11:12 am |
  5. Hispanic Female Republican

    Why isn't anyone asking why the Dems congress hasn't addressed this problem long ago???

    They clamor they want control and while the fat cats in Washington are making money it's ok, as soon as there are problems it becomes a Republican problem!

    This has been on the Dems congress watch.

    McCain/Palin '08!

    September 15, 2008 11:12 am at 11:12 am |
  6. Michael "C" Lorton, Virginia

    McCain has been in the corner of the wealthy and well-connected and has supported the economic policies that have brought this country to date to the financial crisis that currently exist; and McCain says, "Our economy in crisis. Only proven reformers John McCain and Sarah Palin can fix it."..........just like the weasel saying "good morning" to the chickens in the hen house before dinner.

    September 15, 2008 11:12 am at 11:12 am |
  7. Paul from NYC

    I must be hallucinating... I could've sworn I heard John McCain just say that 'the fundamentals of our economy are still strong'...

    September 15, 2008 11:12 am at 11:12 am |
  8. RIF

    The guy who wrote a large part of McCain's economic plan, Phil Graham, worked at UBS as a lobbyist and lobbied to prevent many laws that congress could have put in place to prevent a lot of the meltdown in the the mortgage industry. How is McCain going to clean up thiss mess when his future cabinet member helped create it??????

    September 15, 2008 11:13 am at 11:13 am |
  9. TRUTH HURTS @ McSHAME CAMPAIGN - JOHN McSAME LIES WILL BE WORST THAN GEORGE BUSH!!!!

    John McSAME campaign is run by the very same lobbyists who fought against regulations that would have STOPPED these financial institutions from going UNDER and worked to put special interest giveaways in our federal budget.

    this economy run by George Bush is in the hole in trillions of dollars deficit and John McSame agreed that even though he did NOT know much about the economy, that our economy is FUNDAMENTALLY STRONG!!!!!!

    DO YOU BELIEVE THIS SENILE 72 YRS OLD GUYS?!!!!

    NOT THIS TIME!!!!!

    September 15, 2008 11:13 am at 11:13 am |
  10. NewMexicoForObama

    McCain says "Our economy in crisis" then claims on the stump today that "fundamentals of the economy are still strong"! Doesn't this bother anyone else?!?! Will CNN report on this obvious contradiction? Anyone?!?!

    September 15, 2008 11:14 am at 11:14 am |
  11. Obama-Junkie, IL

    McCain the maverick. [DRIPPING WITH SARCASM!]

    So McCain is going to reform Wall Street similiarly to how he reform the S&L Industry in the 1980s? Can anyone say KEATING 5?!

    September 15, 2008 11:14 am at 11:14 am |
  12. larry

    I thought McCain said that the economy was sound. Now he's wants to reform Wall Street. This guy will say anything to get elected.

    September 15, 2008 11:15 am at 11:15 am |
  13. Amy in Woodstock, NY

    McCain doesn't understand the economy. McCain just doesn't get it. Has he even had to balance a checkbook after marrying rich years ago?

    September 15, 2008 11:15 am at 11:15 am |
  14. Bill Tampa

    McCain, you can't fix anything. You admitted yourself you know nothing about the Economy, and your economic adviser Graham said we are whiners!!!!..Whiners???..Wallstreet is in peril and we shouldn't be concerned?People are losing their homes and they should not be concerned?..People lost their shirts this morning when Lehman Brothers went belly-up, and we should not be concerned?..Give me a break!!!!!!!!!.....No more Bushwack economics, No way, No How, No McCain-Palin voodoo economics....Bring on the Cleaner!!!!

    BOJO/08/12

    September 15, 2008 11:15 am at 11:15 am |
  15. Carmen Colorado

    You were in power for the last 8 years, and what has happened? How can people be so blind? We do not need to do the SAME, we need change. Obama please make them talk about the issues, they just want to tell lies and more lies. Stay on the issues because they do not have a plan for the future.

    September 15, 2008 11:15 am at 11:15 am |
  16. pj

    McCain has that jerk Rudy 911 and all of those other scary guys repeating this McCain talking point – over and over:
    That McCain and his campaign wouldn't have taken such a nasty tone, if only Obama had met him every week for those town hall meetings.
    So what is he saying? This is retribution on us all?
    Man, I'm so sick of McCain's complete phoniness.
    The surge has worked and we have victory in Iraq. OK. Then why aren't we leaving?? It's baloney.
    They're still afraid and refusing to let that bubblehead Palin be interviewed. Should Americans put up with such an outrage?
    Do we want her in line to be president? Holy Toledo. Not me.
    Can't wait for the debates.

    September 15, 2008 11:16 am at 11:16 am |
  17. John Is A Liar

    How can McCain change Wall Street, when he doesn't know much about the economy? How can he change Wall Street, when his financial manager, Phil Graham, wants Americans to stop whining?

    McCain is a liar, and he and his band of theives really don't care about us.

    Obama/Biden for real change–America 08.

    September 15, 2008 11:16 am at 11:16 am |
  18. John in Ohio

    I wonder if McCain realizes that being a Republican and running against the Republican party is *really* going to hurt down-ticket Republicans at the state and federal level. I'd hate to be a Republican running for House or Senate right now, especially an incumbent one.

    September 15, 2008 11:17 am at 11:17 am |
  19. Bottom line: Obama has NO resume, even for change!!

    TC in Ohio**********

    The Republicans pushed plenty of good legislation through when Clinton was president, and he got all the credit for the good economy and first surplus in 50 odd years. Why haven't the Dems done the same?? Dems are on the powerful committees that oversee this stuff, and some of them chair the committees.

    September 15, 2008 11:17 am at 11:17 am |
  20. Bulldog

    McCain TOP economic advisor, Phil Graham, is the one who is responsible for the deregulation that has caused this huge mess. McCain trusts this Phil Graham. That is judgment to be scared of.

    September 15, 2008 11:17 am at 11:17 am |
  21. Fighting for Obama Since he is too political correct!

    Just let Cindy Manage Wallstreet and everyone will be rich. Right?

    September 15, 2008 11:17 am at 11:17 am |
  22. Anna

    HEY YOU SOCCER MOMS I GUESS YOU WILL BE LOOKING FOR A JOB TO HELP YOUR HUSBANDS WHO ARE LOSEING THERE JOBS TODAY. WELL YOU SEE WHAT HAPPENS WHEN YOU PUT PEOPLE IN OFFICE WHO ARE RUN BY LOBBYIST "BUSH AND MCCAIN" OBAMA LIKE I SAID DON'T BE SAD WHEN YOU LOSE IN NOV. BECAUSE THE ONLY PEOPLE WHO SHOULD BE SAD ARE THOSE PEOPLE WHO PUT MCCAIN AND PALIN IN OFFICE BECAUSE OF RACE AND NOW GENDER TOO.

    September 15, 2008 11:18 am at 11:18 am |
  23. Dan, Maryland

    Senator McCain, by reform, what do you mean?

    Oh, you're bumbling through your answer like you did on The View? Pick a theme that you can actually define. I know you had a tough time in school and you're not the brightest bulb in the box, but that should be common sense, tell your campaign to make it a little easier for you.

    September 15, 2008 11:18 am at 11:18 am |
  24. John from Atlanta, GA

    "McCain vows to reform Wall Street" – Yea. So what is he doing for last 25+ years in Washington?

    Do you really believe him and his story about doing reform?

    if you can't do reform in 25+ years with republican presidents and house majority, how can you do in 4 years?

    Don't believe so. No way, no how, no McCain, no Palin

    PUMAs for Obama 08/ Hillary for Chief Justice

    September 15, 2008 11:18 am at 11:18 am |
  25. Maggie VT

    Don't blame it on the Democrates. Bush ran the country for nearly 8 years. There is not a enough Dems in the Senate or override a veto. Put the blame where is belongs. McCain is the same with all his lobbyist.

    September 15, 2008 11:18 am at 11:18 am |
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