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. DR

    Greenspan reported that the American can't afford McCain tax plan. He stated on the View that top of the ticket leads-meaning he leads not Sarah Palin but why do we see her first and then McCain last at the end of their ad?

    September 15, 2008 10:35 am at 10:35 am |
  2. Marilyn North Carolina

    They have been in control but who has been in control of the House. The Republicans and if you don't have enough in the House to over ride their veto's you don't get anything accomplished.

    Vote Early

    September 15, 2008 10:35 am at 10:35 am |
  3. TC in Ohio

    @Keith Cornelius The Dems can't get anything done because of George Bush. He vetos everything. Things will get better once a Democrat can get in office and clean up this mess.

    September 15, 2008 10:35 am at 10:35 am |
  4. Never let them see you sweat....

    How in the heck can anyone believe this ad when his campaign is ran by the special interest and lobbyists. Whoever believes this needs to seek mental help!!!!

    September 15, 2008 10:35 am at 10:35 am |
  5. pay no attention to wall street theivery!

    and fight over "lipstick",

    as the neo-cons at CNN would like you to.

    privitization of profits and socialization of debts is capitalism for you suckers!

    BTW, the "venerable" lehman brothers has 600 BILLION in debt, and filing for bankrupcy!

    if that's "venerable" on wall street, what does that tell you about the integrity of walls street?

    September 15, 2008 10:35 am at 10:35 am |
  6. white independant

    How is McCain going to "fix" anything, or "reform" anything unless he 1st fixes and reforms himself ?? He by his own admission, is in Washington, "divorced" from us middle to lower income people..AND, he proposes NO income tax cuts for anyone making under $250,000.00 a year !!! Obama DOES...The LIES McCain and Palin are spewing out of their mouths now are down right scary ! I smell a RAT...www.factcheck.org
    Thats the place to get the true real facts...
    forget lipstick, pigs, etc..whose gonna pay YOUR taxes, make YOUR mortage payment, educate YOUR kids properly, get us out of 2 wars, bring YOUR kids home ???? Put gas in yOUR car ???? buy YOUR grocercies ????
    Scary........

    September 15, 2008 10:35 am at 10:35 am |
  7. VERY PROUD WOMEN

    SORRY JOHN .........NOBODY BELIEVE YOU....

    September 15, 2008 10:35 am at 10:35 am |
  8. PA voter

    I just can't stop laughing at this joker! McCain can't stop jumping on bandwagons. He's gone from Maverick to Lone Ranger! Lies, lies, lies. He'll say anything to get elected.

    Obama-Biden 08

    September 15, 2008 10:36 am at 10:36 am |
  9. BigTallMatt

    How can McCain be expected to reform Wall Street when his former chief economic adviser Phil Gramm was the one who got all of the legislation pushed through to allow the investment firms to prey on the finanancially destitute and set up the current economic crisis? Remember, these are the people who have been telling us "the fundamentals of the economy are strong" and "we're a nation of whiners" for the past year.

    Obama/Biden – The change we deserve.

    McCain/Palin – Thanks, but no thanks.

    September 15, 2008 10:36 am at 10:36 am |
  10. John .A

    Just say NO to 4 more year

    September 15, 2008 10:36 am at 10:36 am |
  11. spiderweb

    McCain can't do no more than the opposing presidential candidate. In fact, he WILL do less! His campagn has changed themes so many times from who has the most experience to reform and change. And it's sad that so many Republicans, Independents, Women, etc. are buying it. The media frenzy is buying into the "elephant" rehetoric. I am not voting for McCain who has already shown that he can be a ma-vo-wreck with the type of campaing he's running. Don't vote your emotions! You'll be sorry!

    September 15, 2008 10:36 am at 10:36 am |
  12. Frank

    Are you kidding me????????????????????

    September 15, 2008 10:36 am at 10:36 am |
  13. Billy

    HOW are you going to change Wall street?

    STOP MAKING GENERALIZATIONS AND TELL ME SPECIFICS, MCCAIN!

    More importantly, how can I believe anything you say when all you've done is lie to me for 8 weeks?

    September 15, 2008 10:36 am at 10:36 am |
  14. Bill, MA.

    It's time those responsible for our country begin to be charged with gross negligence in their responsibilities. The lying crooks in business, congress, government, executive branch should be sent to jail. What kind of lawlessness will it take to wake up our voters?

    September 15, 2008 10:36 am at 10:36 am |
  15. Brian, NJ

    Nothing dumber than the US electorate. Eight years of the GOP in the White House got us where we are. He admits to knowing nothing about the economy and Palin can see Russia from Alaska, what do either of them know about changing Wall Street.

    How this race is tied is a joke, and the joke will be on all of us if he wins.

    September 15, 2008 10:36 am at 10:36 am |
  16. inuk of the north

    The uber-filthy-rich guys on Wall Street are getting pounded and the Dems are outraged?

    That's a stretch.

    And funny as heck!

    September 15, 2008 10:36 am at 10:36 am |
  17. Boston Guy

    Wasn't Bush behind the failed Savings and Loan back in the 80's and now looks what's happening. McCain will only make things worse during the next 4 years.

    September 15, 2008 10:36 am at 10:36 am |
  18. Jeff in Illinois

    Okay.. help me out.. THIS would be an example of Lipstick on a pig right?

    September 15, 2008 10:36 am at 10:36 am |
  19. John .A

    is the economy WOOZY or what? do we need 4 more years of the same?

    September 15, 2008 10:37 am at 10:37 am |
  20. Paul Robinson

    And how, exactly, does one intend to fix Wall Street when one knows precisely 'squat' about economics...?!

    September 15, 2008 10:37 am at 10:37 am |
  21. Bob Indianapolis, IN

    Last week, Republican presidential candidate Sen. John McCain said his running mate, Alaska Gov. Sarah Palin, hadn't sought earmarks or special-interest spending from Congress, presenting her as a fiscal conservative. But state records show Gov. Palin has asked U.S. taxpayers to fund $453 million in specific Alaska projects over the past two years.

    HERE'S YOUR REFORM, SHEEPLE!

    September 15, 2008 10:37 am at 10:37 am |
  22. rich

    How in the world is someone who has a very poor understanding of econpomics and who has done nothing in the past 26 years going to reform Wall Street. The closest he got to Wall Street was his work with the Keating Five, If the country actually elects McCain, it will see an even worse recession than bush is leaving and it will deserve it.

    September 15, 2008 10:37 am at 10:37 am |
  23. William in NYC

    For all of those years in the senate McCain watched and did nothing. All of a sudden he now has answers to fix everything...and he knows where Bin Laden is too! We just have to elect him so he will tell us these answers.

    Give me a break!
    Obama/Biden in 08!

    September 15, 2008 10:37 am at 10:37 am |
  24. Isn't It Weird?

    He had 26 years and didn't do it. Why should we believe him now?

    September 15, 2008 10:37 am at 10:37 am |
  25. Pants on Fire!

    Vows from the most accomplished liar of our era?

    Thanks, but no thanks.

    September 15, 2008 10:37 am at 10:37 am |
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