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. demwit

    Federal lobbiest are to blame!! Like Joe Biden's son!!!

    September 15, 2008 10:52 am at 10:52 am |
  2. ncharge

    He will say anything..... bad move McCain.... America need jobs, gas prices are tooooo high, we are choosing between gas and shelter for our families.

    Give me a Break...... You should stop pretending... Ask Palin what we should do..... Move to Russia since she can see if from her doorsteps.

    LoL What a joke..... Please elect the clowns so we can all be remembered as Stupid Americans....

    September 15, 2008 10:52 am at 10:52 am |
  3. Pam

    Why hasn't he done anything before now? Just another pack of lies from McCain.

    September 15, 2008 10:52 am at 10:52 am |
  4. Ovitshio Branco from Arizona

    50 % of united states population are ignorant and Bigots, vote to who they relate too rather than voting for the person with intelegence and Judgement to lead this nation. This country is going to the drain say good bye to being the super power.

    September 15, 2008 10:52 am at 10:52 am |
  5. Enlightened Voter

    Hey Republicans your boy McCain voted to oppose the 2008 expanded GI bill. McCain stated that it is just too expensive to send vets to college, and that giving vets a college education discourages them from remaining in the military. CNN did this story so you should be able to research it. He doesn't care about GI's or women (he just voted against the bill to give women equal pay) and yet you believe the bull about him? Go research your boy and be open minded.

    September 15, 2008 10:52 am at 10:52 am |
  6. Mr. Eko

    How can McCain reform Wall Street when Republicans don't believe in regulation of any kind. They'd rather let these greedy companies operate on the honor system, promising that they won't screw over customers. But of course, they always end up doing exactly that, to the detriment of our national economy.

    September 15, 2008 10:53 am at 10:53 am |
  7. Missouri

    McCain has no idea how to fix this mess. The Republicans have no idea either. They let this mess happen. Anyone who was paying attention knew the housing crisis was going to cause some big problems. I pulled my money out of this mess a year or more ago. The Republicans let all of this crazy lending go on and just watched it fall apart.

    Get real. McCain is not the answer. He is part of the problem.

    September 15, 2008 10:53 am at 10:53 am |
  8. bam

    All these promises of reform by McCain, who has been in Washington for 26 years. Why didn't he do something before election year, 2008?

    Prediction: just before November, gas prices will go down, the stock market will go up, and we may even capture Bin Laden.

    September 15, 2008 10:53 am at 10:53 am |
  9. ATLian

    He has got to be kidding. We are NOT STUPID McSame. As far as the Democratic congress, there are still REPUBLICAN filibusters and a REPUBLICAN President with VETO power.

    September 15, 2008 10:53 am at 10:53 am |
  10. End the Lies

    Yet another lie.... I'd love to see McCain at least admit he hasn't a clue about economics, but he's going to turn it over to Palin or Palin and his lobbyists to solve...

    Maybe they can put Lehman on Ebay...

    September 15, 2008 10:53 am at 10:53 am |
  11. Gimmick FIRST

    Funny how they had 'OIL PEOPLE' in charge for the last 8 years. Now mcCain chose Palin whose another person with OIL INTERESTS.

    Both McCain & Palin are in it NECK DEEP with Lobbyists.

    So where is the change/reform?

    September 15, 2008 10:54 am at 10:54 am |
  12. larry in Chillicothe OH

    McCian is so out of touch. He said he believes the fundmentals of the ecomony are strong!

    September 15, 2008 10:54 am at 10:54 am |
  13. Dana from the Chi

    How is Mccain going to reform wall street, when he can't even reform his own party? Wall street is tore up because of him!!

    September 15, 2008 10:54 am at 10:54 am |
  14. ZL / Lakeland FL

    We know one thing for sure about Senator Obama, he has lifted his finger to vote 'PRESENT", and that is about the only thing he ever done.

    September 15, 2008 10:54 am at 10:54 am |
  15. Moe, NY

    John McCain will jump on any bandwagon to get elected. Has it occurred to McCain that America's financial disaster is due to the Republicans?

    September 15, 2008 10:54 am at 10:54 am |
  16. Shane

    He always says he's going to do something...but never says how! Typical McCain.

    September 15, 2008 10:54 am at 10:54 am |
  17. Lucy

    What a scam...Republicans continue to fail at economics 101...Trickle-down-no-regulation does not work and will not work under McCain (ANOTHER REPUBLICAN ADMINISTRATION).

    Historical research PROVES that the US economy has been better under Democratic presidents.

    FAILED REPUBLI-CON 6-year+ controlled CONGRESS AND PRESIDENCY. VOTE FOR THE CHANGE WE NEED.

    GOBAMA...

    September 15, 2008 10:54 am at 10:54 am |
  18. A concerned voter

    We still do not know who Obama is, to trust him with the most powerful position in the world.

    September 15, 2008 10:54 am at 10:54 am |
  19. Ted

    How? Using the same lobbysts that got our economy down?

    September 15, 2008 10:55 am at 10:55 am |
  20. No Palin Pitbull Lips

    To Keith COrnelius:

    What stupid remark. Two years did not cause the disaster our economy is experiencing. I thought Republican's have money to get an education...oh, no common sense, huh? That's why they need Palin, unfortunately, she falls too short in common sense too.

    September 15, 2008 10:55 am at 10:55 am |
  21. Bob Indianapolis, IN

    In the words of Pat Benetar, "It's a little too little; it's a little too late"...

    September 15, 2008 10:55 am at 10:55 am |
  22. Joe

    McCain said he can fix the economy why don't he let BUSH in the secret. McCain and this administration must think people are not paying attention this time. This is what happens when companies have license to do what they wish.

    September 15, 2008 10:55 am at 10:55 am |
  23. Obama WILL win FL

    This whole election is about : The SMART voters who want to CHANGE our GREAT Country to be the ENVY of the world..... or the FEARFUL, ANGRY, NEGATIVE, DIVISIVE WARMONGERS who want to repeat the last 8 years.

    September 15, 2008 10:56 am at 10:56 am |
  24. blaising

    LIARS!!

    He said he doesn't know much about the economy...He can't fix it!!

    Would you buy a used car from this man??

    and Mrs. Palin's not worth the ink...

    September 15, 2008 10:56 am at 10:56 am |
  25. McCain = Temper

    Phil Gramm was the person that deregulated oil futures.

    Phil Gramm wants to deregulate everything.

    Phil Gramm wrote John McCain's economic policy.

    Phil Gramm call us a "nation of whiners" in a "mental recession".

    How is McCain going to reform when he is the one that designed the system the way it is?

    September 15, 2008 10:56 am at 10:56 am |
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