September 15th, 2008
10:20 AM ET
14 years ago

McCain vows to reform Wall Street

[cnn-photo-caption image= caption="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. A New Beginning

    One question: Is anyone keeping count of all the promises Sen. Mc Cain is making?

    September 15, 2008 11:51 am at 11:51 am |
  2. Hockey Moms for Obama

    Hey Keith Cornelius – The Democratic controlled congress has been TRYING to improve the situation – economic and otherwise – in this country, but McCain's other half, Bush, vetoes everything they put before him! And without 2/3 majority, they can't override the veto. So you have Bush, McCain, and the other Republicans in the congress to thank for no progress.

    Obama/Biden '08!

    September 15, 2008 11:52 am at 11:52 am |
  3. Michael

    More lies from Obama, he has recieved millions more than McCain from the very institutions that are in trouble. Just check it out in the new CNN ticker. More lies from Obama. Obama is not change just more the same lies and partisian politics that have a choke hold on Washington.
    McCain/Plain 08. Palin 12 and 16!

    September 15, 2008 11:52 am at 11:52 am |
  4. Phil Newton in Murphy, Oregon

    Greenspan: "America can"t afford John McCain"

    WASHINGTON – Alan Greenspan says the country can"t afford tax cuts of the magnitude proposed by Republican presidential contender John McCain — at least not without a corresponding reduction in government spending.

    But the GOP has become the PARTY OF TAX AND SPEND.

    September 15, 2008 11:52 am at 11:52 am |
  5. MW

    Sure, McCain can delegate that responsibility to Palin. I'm sure she can see Wall Street from her kitchen table just like she can see Russia. So that qualifies her for the job.

    September 15, 2008 11:53 am at 11:53 am |
  6. Bryce Beamish

    John McCain and Sarah Palin will keep you safe from imaginary terrorists, disgruntled tooth fairies, and the vast left wing conspiracy to create a better america for working families and their children. All the while squandering your irrational faith in their ability to reform anything but the shoes on their feet.


    September 15, 2008 11:53 am at 11:53 am |
  7. Anonymous

    you are the reason wall street has fallen, God help us.

    September 15, 2008 11:55 am at 11:55 am |
  8. Kyle C.

    Wasn't/isn't it the republicians that want less government regulation for American businesses? If a Democrat was proposing government reform for business they would be called socalist! Why is it that when the economy is doing good, the Fortune 500 tells government to butt out, but once the economy starts to do bad, due in part to their poor financial decisions the same businesses are first in line to ask for government help? i.e. Airlines, Bear Stearns, Chrystler, etc.

    September 15, 2008 11:55 am at 11:55 am |
  9. MikeH

    He'll reform Wall Street by giving big tax cuts to the wealthy, big tax cuts to corporations, allowing oil speculators to drive the price of oil wherever, and allowing the oil companies access to our pristine wilderness to drill for oil.

    Seems like Wall Street will really be reformed by that, eh?

    If you don't like it he'll just re-institue the draft and send you or your kids off to fight and die in a war designed for profiteers.

    September 15, 2008 11:56 am at 11:56 am |
  10. Ted:Canada


    The Republicans were asleep at the switch on ALL economic disasters in America over the last eight years and now YOU would VOTE THEM in for a ANOTHER four years???

    If you are in this camp – Canada would like to sell you some prime property – “all you need is a little bit of fill” – located just North West Of Alaska

    Oh by the way you can see Russia from your back yard.

    “Hook Line and Sinker” A Canadian expression for “sucked in”…

    September 15, 2008 11:57 am at 11:57 am |
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