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. John in Ohio

    "Where has the DEMOCRATIC CONTROLLED CONGRESS been the last two years they were in control."

    The Senate is a 50/50 split between Democrats and Republicans, and Bush is blocking legislation. Democrats have a majority in the House, but not a 2/3 majority, and legislation is being blocked by the Senate Republicans and by Bush.

    September 15, 2008 11:18 am at 11:18 am |
  2. Helen

    THE INK ISN'T EVEN "DRY"

    September 15, 2008 11:18 am at 11:18 am |
  3. Ronald in NJ

    Same party, same policies, same empty rhetoric! I am just surviving after 8 years but I will not vote for another 4 from the same people!

    No Way, No How, No McCain/Palin in 08!

    September 15, 2008 11:19 am at 11:19 am |
  4. Dan in VA

    W's legacy... an education system laughing at NCLB and a banking system collapsing under NBLS (No Bank Left Solvent)....and McCain is the one I want to turn to to fix it? Not happening.

    September 15, 2008 11:19 am at 11:19 am |
  5. Bluv

    Can't buy McCain's creditability on the economy as he himself admitted time and time again that the economy is not his strength and that maybe he should have paid more attention to it; the same as with his lack of keeping up with the times and changes. You can't make thses statements in January/February and then claim to be knowledeable and have the answers in September. Maybe Obama should find that clip of him stating this very fact and combine it with his hard stance unsincere comments he had back then and ask is this change you can belive in?

    September 15, 2008 11:20 am at 11:20 am |
  6. Truth be Told

    McBush shattered the economy in last eight years.
    In the next four years they will reform it. Trust and vote for McCain and Sarah Palin.

    September 15, 2008 11:20 am at 11:20 am |
  7. Susan

    He has not reorfmed anything in the 26 years he has been a Senator! This man is a joke!

    September 15, 2008 11:20 am at 11:20 am |
  8. CarlosN

    You gotta be INSANE to vote for McCain an Palin.
    It's not even a question of Democrat vs Republican, is a question of who can fix this mess, and it is no easy job.

    McCain selected his VP for the ratings, not for the experience or the judgement. Can you trust a failing economy, a corrupt wall street, etc, to a man that acknowledged not long ago that he knows nothing about the economy and a VP who let her town in Debt???

    Enough !!!

    CNN post this !!!!!!!

    September 15, 2008 11:20 am at 11:20 am |
  9. Democrat for John McCain

    CNN, do not delete my message. I know you are pro-Obama and I am anti-Obama. Mc Cain is the only person to improve our economy. barack has no experience whatsoever. he is a big mouth.

    September 15, 2008 11:20 am at 11:20 am |
  10. R

    the reason we're in this is because of the war. We spend so much into the war that the gov't couldn't help Lehman. So McCain, you support Bush, and still wants to be in this nonsense war. Can you tell me exactly how is this you who can only fix this?

    September 15, 2008 11:21 am at 11:21 am |
  11. tony

    If your not in the Obama Camp by now–
    You never will be–The Honeymoon is over-
    He's got about 47% of the vote and that s all he will get-
    It's probably lower because in the primaries-THe exit polls gave him a lot more then he actually got-
    Hillary proved he was a weak finisher-

    Wrong Candidate Dems-
    Thanks for blowing it again–

    September 15, 2008 11:21 am at 11:21 am |
  12. Isn't It Weird?

    McCain is Not Credible on this topic.

    He's been a high falutin' Senator for 26 years who has entered into banking topics before ( the S&L crisis).

    He should have easily been able to have a positive impact in this area if he had any VISION or INCLINATION to do so.

    September 15, 2008 11:22 am at 11:22 am |
  13. Tina

    What about your wedding vows??? Oh I get it when you vow, you mean you will try real hard!!! Oh that makes all the sense in the world. Why should America trust you when your first wife couldn't?

    September 15, 2008 11:22 am at 11:22 am |
  14. Yeah, RIIIIIGHT

    How is he going to do this? By reducing the size of government and the role of government in overseeing untrustworthy corporations????????

    September 15, 2008 11:22 am at 11:22 am |
  15. McCain/Palin

    Obama gets a lot of money from wall street, but none of his followera are commenting on that blog!!!! Wonder Why......

    September 15, 2008 11:22 am at 11:22 am |
  16. Truth be Told

    How do we reform it? Hmmmmmmmm... We will reform it. We will Change. We have changed all our life. You will see change and reform. It is visible. It is true. It is change. It is change with reform.

    What measures will be taken – Hmmmmmmmm... We will reform it. We will Change. We have changed all our life. You will see change and reform. It is visible. It is true. It is change. It is change with reform.

    September 15, 2008 11:23 am at 11:23 am |
  17. Ron

    Les'ts all ask ourselves, is this guy a maverick or a gambler? How many of you will willingly give custody of your child to someone you mey just one time? But he says country first McCain, how come you want to give the custody of 300 mil Americans to smeone you just knew? I know you will not do this to any of your kids. This is not time to gamble, Bush did it, he failed, we do not need repetition people, vote your conscience

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

    yeah right, McCain is going to really fix this, lets reward the wall street incompetence by cutting their taxes even more.
    Right now, we don't need Republican philosophy that is anti-welfare for those that need it but all for coporate welfare.
    Obama in 08

    September 15, 2008 11:23 am at 11:23 am |
  19. J UAN CARLOS

    M A K E--–S U R E--–F N M A---AN D--–F R E D D I E----

    D E M O C R A T I C --–A P P O I N T E E S----D ON ' T----

    C A S H---O U T---$4 0----M I L L I O N----I N----

    P A R A C H U T E----C A L L-----F O R----

    C R I M I N A L -----I N Q U I R Y

    September 15, 2008 11:23 am at 11:23 am |
  20. Adam Habib Dallas, TX

    Now he is a reformer, a man for change? Wow!!! So GOP is asking to replace them by them?

    September 15, 2008 11:23 am at 11:23 am |
  21. Duke

    I believe the Palin effect, which has been tremendous for the Repugs has peaked. Have to hand it to the Repugs they made a perfect play given the circumstances. I think they know that it would have even been better if they could have delayed the pick for another 4 weeks or so, so that Palin could not be vetted. The whole rollout of Palin and the simultaneous attack on the media was just political artistry.

    I think the Repugs have made their best move and it did get them close. I think things will start to move back in Obama's favor now and he will win a decent electoral victory.

    No McLowIQ
    No Bullwinkle Killer

    September 15, 2008 11:23 am at 11:23 am |
  22. NoDumbA$$ Cheesehead, WI

    I hate ignoarant people who are blaming the DEMs for being in control for the last 2 years in Congress and forget that its going to take more than 2 years to undo the mess the GOP has created being in control of Congress for a good 12 years.

    September 15, 2008 11:23 am at 11:23 am |
  23. Carol for McCain all the way

    Stop BLAMING John McCain for all the problems. GREED is the governing factor in the woes of our economy. John isn't the only Senator. What have other Senators ( Obama) done to solve our economic problems, past and current. NOT MUCH! We need an experienced leader LEAD us out of the dark mess we are in SAFELY. Experience NOT TALK, is what we need. Wake up. "rock star" status may be OK with those who want to lead us to their way of thinking ( idealism) but as AMERICANS we think for and act ourselves on WHAT IS GOOD FOR AMERICANS AND AMERICA. We can't let other nations preferrences dictate to us who will lead us.

    September 15, 2008 11:24 am at 11:24 am |
  24. lol

    gov. palin has a proven record, unlike obama of fiscal accountability, and money management. the two mavericks can get this economy back on track. mccain/palin 08 hillary 2012

    September 15, 2008 11:24 am at 11:24 am |
  25. sine

    Give me a break!!!

    This man admitted to knowing nothing about the economy and he is supposed to come in and fix it???

    I agree- it's ok to vote for a black guy america.

    September 15, 2008 11:25 am at 11:25 am |
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