(CNN) - As he gears up to hit the campaign trail on behalf of Barack Obama later this week, former President Bill Clinton is the star of a new television ad - for John McCain.
Watch: New McCain ad features Bill Clinton
The Arizona senator's campaign is highlighting Clinton's remarks in an interview with ABC News last week during which he appeared to lay some of the blame of the current economic crisis on congressional Democrats.
"I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president to put some standards and tighten up a little on Fannie Mae and Freddie Mac," Clinton said in the ABC News interview that is highlighted in the new McCain ad.
The announcer of the one-minute spot called "Rein" cites McCain's call for more regulation of Fannie Mae and Freddie Mac two years ago and said "Democrats blocked the reforms."
"Loans soared. Then, the bubble burst. And, taxpayers are on the hook for billions. Bill Clinton knows who is responsible," the announcer also says.
But in the same interview with ABC, Clinton also said it is important not to assign blame at this time for the current state of the economy: "We are where we are. I think the most important thing is we got two candidates for president saying 'lets try to minimize the partisan differences,'" he said. "We will have plenty of time later to look at who caused this and what mistakes were made."
Those comments did not make it into the McCain ad.
The ad comes days after some Democrats grumbled the former president appeared to be overly praiseworthy of the Arizona senator as the final stretch of the heated presidential campaign gets under way. In the same interview with ABC News, Clinton defended McCain's call to possibly push back the first debate, saying it was a pledge made in "good faith." He also later said the Arizona senator had taken the lead in his party when it comes to climate change.
Bill Clinton undermining the Obama campaign so that he could pave the way for a certain disaster in a McCain/Palin presidency to give Hillary a quicker shot in 2012–you decide based upon his perosnality traits and his background if that is what's going on.
Dear Mr. Clinton,
If Barack loses it will not help your wife in 2012 because we will not forget your efforts. We (blacks) will give her the same support that your side has given him (OBAMA). If its good for the goose, its good for Hillary.
P.S. don't think a poor economy will change our minds because we (blacks) have always had a poor economy. Even under your administration......that's why we say to the rest of America....Welcome to our reality....stinks don't it!!!!
Wow, The RNC is using both Bill and Hill as weapons to bring Obama down. Well actually their attempt is to sway public opinion and shift focus. They want to convince America that this economic disaster is the fault of the Dems...not the republicans who have been in power the last 8 years.
Does anybody remember when the rethuglicons convinced America that the Democrats would be soft on terror and we being the naive public that we are fell for it and voted them into the House and the Senate at record breaking numbers? Does anybody remember the last 8 years where they stripped the market of regulation and actually encouraged predatory lending? All of this was brought to you by the GOP. Now it's election season and they are counting on our memory to get hazy. Was it the reps or the dems that got us here? The dems have a bare majority in the House. This does not make Democratic congress. It will be a Democratic congress after this election cycle.
I WANT MY GOVERNMENT BACK
I WANT MY COUNTRY BACK
I don't know what is up about the Clintons: It is clear now who they really supports.
On another issue, if you do not like what your constituints in congress had done, Let these sitting Congress know that you will not vote for them on their re-election. I already had submitted my proposal to some of our fellows on our organization not to vote for Pelosi. We'll if all of them follow suit, It will only be over 50,000 voters in her district.
I am not surprised at all by Bill Clinton's comments. After the ones he made during Hillary's run ( comments in South Carolina and elsewhere) though he claims not to be racists and for Obama comments in SC and this ad make me wonder??
Bill Clinton was a Rhodes Scholar and knows better. All Palin can is that she has been on a few Alaska Roads...no comparison.
It does trouble me deeply and make me think that BIll is posturing for Hillary in 2012....If Obama loses, which I hope and pray deeply, he does not, it will in no small way be the lack of support from Bill Clinton.
Dear Senator Hillary Rodham Clinton- please tell Bill to sit down and SHUT UP. Clinton in 2012.
Bill Clinton needs to save his comments and opinions for a memoir many years from now. In my opinion, his mouth was a major detractor to his wife's presidential campaign, and is a major distraction in the final days of this presidential campaign. He has had his day, now he needs to let the current presidential candidate have his.
Bill is a political time bomb. He is nobody's friend (including Hillary Clinton's). I knew not to use this guy in the campaign. But if it was necessary he should have a Obama spokesperson with him something like McCain's parrot Joe Leiberman :). To think Bill has to know better is to think the same thing about John McCain in running for president. Yet he is still running....... not unless he suspended his campaign AGAIN. I read that somewhere this morning.
amazing how politicians and partisans are happy to turn on their very own when they don't say and do what they expect them to do. probably why we have such a lack of people who demonstrate real courage to stand up and speak the truth in washington. there are no more Mr. Smiths in washington, all we have left are ploting people who are only interested in keeping the power they managed to get their hands on. ordinary americans need to stand up and take this government back from the people who would rather have us divided and fighting each other.
Again he can't talk about issues ... its all about him ......... what about this country . its not COUNTRY CLUB FIRST–you idiot
Well, McCain certainly likes to use others comments, but he seems to hate it when someone uses something he said against him. McCain is so out of touch with his Arizona constitutents, he blames the Democrats for the failure of the bill yesterday, but then he doesn't even know that ALL 8 of the Arizona representatives (4 Dem, 4 Rep) voted against the bill because they listened to their constitutents back home...But then again, McCain probably can't remember where his home is.
Bill Clinton is not a candidate.
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets - including the New York metropolitan region - will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
"Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements," said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. "Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market."
JUST A NOTE: Franklin D. Raines is currently a paid Obama advisor.
And so are the 3 ex-CEOs of Fannie Mae, Freddie Mac, and Countrywide......
How do people think Obama divided the party? If Hillary had graciously conceded once the writing was on the wall then the Dems would not be divided as badly. She also was the one that started using the same tactics that McCain is trying now.
McCain is a joke. He sits around waiting for comments that he can grab out of context, and that is his campaign. How about something original?
Why are you posting comments from goons suggesting that people (lots of people) be "shot for treason"? (I know you won't post this comment but I want to ask the question anyway. Who's minding the store?
Bill is no longer a champion of the people.
A sad day
Obama = ACORN
ACORN = OBAMA
Bill Clinton knows who is responsible for this financial meltdown and that is the Democratic policies regarding no down payment home mortgage loans, and the ACORN agency driven by Obama politics and Chicago thugs style negotiation.
No America should not bail these crooks out, America should demand all of the millions upon millions of bonuses received by Directors of these firms.
A lynching is not good enough for these thieving evil minded, I don't care about anyone but myself Obomaphilias.
OBAMA = ACORN THE DESTROYERS OF THE AMERICAN WAY OF LIFE
Pray tell- Why DID the democrats install Obama and swiftboat the EVER more qualified Hillary Clinton?
Oh you mean the guy who got more electoral votes, and more popular votes than the runner up? If what you mean by a "swiftboat" is "going by the will of the people", then you really have a case there. Otherwise, please leave the talking to the adults in the room.
How is this negative news for Obama? Just because he is a democrat? Not everyone has the same thoughts and ideas. If Democrats made commercials every time Republicans made mistkaes there would be thousands of them.
desperation, desperation. McBlame is fishing for anything he can get to make him look like he's still in the race.
we appreciate it so much!