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. si mwen te konen tou jou deye

    i have to give mcclame and his team credit for been on the offensive. obama's team need to stop playing not to loose. mcclame is the biggest liar this country has ever known

    September 15, 2008 10:46 am at 10:46 am |
  2. Undecided

    If you mean to put a briddle in the run away horse called unbriddled capitalisum, OK, if you mean just get me elected and I only care about Iraq then screw off fella, your going to multi-task, don't force me to vote for the weaker candidate.
    Our problem has been and is the deregulation of Wall st. and the Banking industry along with other industries.

    Clinton 2012 ;-)

    September 15, 2008 10:46 am at 10:46 am |
  3. Sally a Proud Republican for Palin

    Kind of like the FOX guarding the HEN HOUSE. Wait, Palin might shoot the fox and wear it for a stole. Then BBQ the chicken!

    September 15, 2008 10:46 am at 10:46 am |
  4. Kerry in VA

    It show start with his campaign first. McCain/Palin cannot even reform their own homes. Hiprocracy at its best.

    September 15, 2008 10:46 am at 10:46 am |
  5. Mikey

    Keith COrnelius September 15th, 2008 10:29 am ET
    Where has the DEMOCRATIC CONTROLLED CONGRESS been the last two years they were in control. They sat back and watched and were more concerned with Obama's presidential campaign and then go on a 5 week vacation in august for the last 2 years….
    ______________________________________________________
    Please give us a break. The Republicans have controlled either the White House or Congress for 26 of the last 28 years. They controlled both for the first 6 years of the Bush's Presidency.

    In the last two years, the Republicans have fillibustered Congress to a standstill and Bush has vetoed or threatened to veto much of the rest. Now you want to blame all the problems that have been building for years on the fact that the Dems have had control (barely – 51-49 in the Senate with Lieberman) of congress for 19 months? Pretty lame.

    September 15, 2008 10:46 am at 10:46 am |
  6. cool onlooker

    Well only 52 more days to showcase. Not too long... before the truth be unfolded.

    Be patient, pals.

    September 15, 2008 10:46 am at 10:46 am |
  7. lee

    I say keep it up Obama and Biden. Keep trying to link McCain to Bush. I mean it has worked so well thus far. LOL They dont get it, do they? We are not stupid. John McCain is known for being his own man. We know he isnt Bush. Then there is a large segment of the people that realize how safe Pres Bush has kept us for so many years. But, keep it up. Thank you

    McCain / Palin '08

    September 15, 2008 10:46 am at 10:46 am |
  8. Ron

    Obama is the biggest after the fact politician there as ever been. he his fantastic at talking about what others should have done, and what he would do. he and his party have had control of the senate and congress for the last two years and have done nothing, and he personally has voted, present; rather than make a decision, on most of the important bills presented. so he and his party do not impress any intelligent voters

    September 15, 2008 10:46 am at 10:46 am |
  9. mary, colorado springs

    McCain is useless when it comes to "cleaning up Washington" when he's been there 25 years and has done nothing. Cutesy soccer mom Palin has even less to offer. Her attitude is that being Vice President and raising a family is no different from being Mayor/Governor and raising a family, but she neglects to comprehend she would have a whole nation to be concerned about, not just a state with a small population. I don't think either of them understand what governing a country would entail, nor do they have what it takes. Neither one of them are good material for the offices for which they are running.

    NO WAY, NO HOW, NO MC CAIN, NO PALIN says it all. We need strong, situation-oriented people in those positions and they are made for Obama and Biden who are world-savvy and are ready to prove it. Even European countries know Obama/Biden are the team we need.

    September 15, 2008 10:46 am at 10:46 am |
  10. Kerry in VA

    It should start with his campaign first. McCain/Palin cannot even reform their own homes. Hiprocracy at its best.

    September 15, 2008 10:46 am at 10:46 am |
  11. CC from Chicago

    I can't think of any really great ideas that McCain has mentioned to help push our economy in the right direction. Lots of shallow campaign rhetoric. I mean how are people calling Obama an empty suit? At the RNC convention there wasn't word one about what will be done to help our country. Country First??? Well, exactly how is that going to be done via your administration?

    September 15, 2008 10:46 am at 10:46 am |
  12. Lisa M

    What's wrong with Wall Street is that for some reason it must have moved to Vegas.

    Instead of long term investment in stocks people are looking for short term windfalls.

    Maybe we need to start some real monetary hurt on those who flip stocks.

    September 15, 2008 10:46 am at 10:46 am |
  13. JIM...TX

    Keith Cornelius...where's congress been past 2 years?? Same place they was the 5 BEFORE that an Republicans ran the show. Sitting on their hands. There's PLENTY of blame to go around an it ain't all democrats!

    September 15, 2008 10:46 am at 10:46 am |
  14. Enlightened Voter

    When you say lower taxes you mean for the rich? You have no plans to lower my taxes like Obama does so STOP LYING mccain! God, will it ever end! And remember the democrats in Congress either get filibustered by the repuglicans or vetoed by Bush who has used his veto powers over 500 times in the last two years. Interesting isn't it? So stop saying congress didn't do anything, they would have done plenty if we can get the repugs and the pres out the way.

    September 15, 2008 10:46 am at 10:46 am |
  15. obama 08-12

    you can't not even reform your campaign and you talking about wall street,give a break !

    September 15, 2008 10:47 am at 10:47 am |
  16. Spin Masters

    McCain admitted he doesn't know much about the economy, so how exactly does he plan on reforming wall street? Sarah Palin left the Mayor's office in Wasila with mounds of debt even though there was a surplus when she took office. How is she going to reform wallstreet?

    September 15, 2008 10:47 am at 10:47 am |
  17. curtis

    The economy is in huge trouble. If you think the republicans can fix it, take a look at the last eight years.

    September 15, 2008 10:48 am at 10:48 am |
  18. Susan from Scotts Valley, CA

    McCain would rather lose his integrity than lose an election.

    September 15, 2008 10:48 am at 10:48 am |
  19. fixthebroken

    This is horrible. It was in large part Republican policies that put us in this mess (e.g. deregulation). Take a look at the voting records over the last 10 years.

    And now McCain is saying he is going to fix it! How? With his magic "believe what I say, not what I do" wand?

    Sad thing is - people will believe him.

    And God forbid he is elected to the White House and he doesn't change a darned thing and makes it worse - well, he can apologize to us laughing as he sits in the oval office.

    September 15, 2008 10:48 am at 10:48 am |
  20. Mike M, Indiana

    It was called the "New Deal" in 1933.
    The reforms and regulations were swept away by "Reaganomics" in 1982. Is McCain repudiating "Reaganomics"?
    Is the Republican Party repudiating "Reaganomics"?

    September 15, 2008 10:48 am at 10:48 am |
  21. JusLaugh

    Yea. I'm sure he will....Just like Bush did.

    September 15, 2008 10:48 am at 10:48 am |
  22. Linda from Prescott AZ

    If it weren't so pathetically sad, it would be funny.
    What about the $22 mil debt that Sarah left in her small town?
    What about the inability of McCain to even know how many homes he has or his inability to understand the economy. He lives by the word of Phil Gramm, (who should be in jail by the way).

    How stupid McCain must think we are.

    September 15, 2008 10:49 am at 10:49 am |
  23. John, FL

    NO WAY. McCain is part of the problem. He's only saying this now because Obama is popular for it.

    September 15, 2008 10:49 am at 10:49 am |
  24. Hispanic for Obama - Ricky

    And how does a POW and journalism grad plan on doing this? I mean honestly...are they serious?

    September 15, 2008 10:49 am at 10:49 am |
  25. Lou

    Nonsense. John McCain will never reform Wall Street. Proving to you that it's John McCain first, and country last. I guarantee it.

    September 15, 2008 10:49 am at 10:49 am |
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