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. Helen, NY

    For economy, John McCain can be the savior. Barack's campaign manager has nothing to say but criticize saying John McCain was in the senate for so many years. Barack has to give his campaign money to AIG or Lehman brothers. American people are sabotaged by Barack Obama. CNN will moderate this message because they are a mouthpiece of Barack Obama. I do not care.I want this for record. Barack has no experience. Barack is hollow.

    September 15, 2008 10:30 am at 10:30 am |
  2. ct

    I can't believe people will fall for this bull...

    September 15, 2008 10:30 am at 10:30 am |
  3. TyWebb

    Palin is up to the job, I'm sure. Unreal!

    September 15, 2008 10:30 am at 10:30 am |
  4. Cindy

    McCain/Plain Liars!!!!!!!!!!!!!!!!

    September 15, 2008 10:30 am at 10:30 am |
  5. Kaywood Hopkins

    McCain says he will reform washington & now wall street ? McCain needs to reform himself he has been there for 20+ years. Why did he not reform then? He will say/do anything to get elected....

    September 15, 2008 10:30 am at 10:30 am |

    Only stupid Americans will fall for this okie doke trick this time. so if you are planning to vote for McCain, consider yourself stupid.

    September 15, 2008 10:30 am at 10:30 am |
  7. Napoleon Complex

    Is this a joke? Phil Graham was the chief architect of the deregulation that led to this crisis and he's still advising McCain. Unreal!

    September 15, 2008 10:30 am at 10:30 am |
  8. Central Scruitinizer

    This may be a little off subject, but will you (CNN) PLEEEEEEEZZEEEE stop showing close ups of Carl Roves 50 pound face? I havent been able to hold down a meal since Friday. He needs at least 30 feet between him and the camera.

    September 15, 2008 10:31 am at 10:31 am |
  9. Janel, St. Paul, MN

    Promises are cheap. What is McCain's plan? Details, please.

    September 15, 2008 10:31 am at 10:31 am |
  10. henry ware


    September 15, 2008 10:31 am at 10:31 am |
  11. Keith COrnelius

    First Elle before you go spewing half truths....The debt that is left be hind by Governor Palin is for a Sports Arena that the citizens of Alaska wanted and are aware of the debt. Typical Obama surrogate speaking half truths, please learn the facts before commenting.....thank you
    If the debt was waste spending then you would have an argument but that is not the case ....

    Demcrat voting for McCain / Palin

    September 15, 2008 10:32 am at 10:32 am |
  12. Independent

    Just like the S&L issues he was involved in,RIGHT?

    September 15, 2008 10:32 am at 10:32 am |
  13. Reject the slime

    Blah, blah, blah....

    We want reform on anything that looks bad and is in the news right now – forget what our record says or what the truth is, oh wait – look at my new Caribou Barbie doll for VP!!!!!!

    September 15, 2008 10:33 am at 10:33 am |
  14. mitchell



    September 15, 2008 10:33 am at 10:33 am |
  15. Anonymous

    It will be fun to see the twisted contortions Palin/McCain go to in order to fit every event between now and November into their campaign message of reform.

    September 15, 2008 10:33 am at 10:33 am |
  16. al in memphis

    2008 is the election of ads and popularity. Just last week, McCain and the Republican talked about less goverrnment. Now these ads supposed to leave us with the warm feeling of reformers to the rescue. Johnny on the spot with what people want to hear - remember gas tax holiday

    Give me a break. Most of the wars and finanical bail outs have been under the republican watch. I believe in the free markets, but greedy people in power has given us the S&L bailout, Bearn Sterns bailout, Fannie Mae bailout, Freddie Mac bailout, and several wars. Why don't you be as tough on not spending tax payers money to cover the losses of big banks as you are with the tough talk of going to war.

    Voters - Obama talked about reforming Wall Street months ago. I guess we will see a McCain roll out of what Obama said.

    September 15, 2008 10:33 am at 10:33 am |

    Are you kidding me?

    He admits to knowing nothing about our economy.

    He stated TODAY that he thinks it's fundamentally strong.

    Wake up America, it's ok to vote for a black guy!

    September 15, 2008 10:33 am at 10:33 am |
  18. Travis

    Good for the Fed telling Lehman Bros. to sit 'n' spin. We need to be helping the people being put out on the street by these greedy SOBs. They deserve to know what it's like to feel the pain with the rest of us.

    September 15, 2008 10:33 am at 10:33 am |
  19. CB


    War, war, war, and more war.

    U.S. helicopters were fired on over Pakistan by Pakistan TROOPS today. U.S. forces are moving close on the Pakistan/Afghan border. The only reason they are pulling troops out of Iraq is so they can have enough forces for other wars they want to start (Russia, Iran, etc.)

    Its all over oil folks. McCain is as much for all of this as Bush/Cheney was. If you think he's different, you're fooling yourself. Prepare for war and more economic hard times.

    September 15, 2008 10:34 am at 10:34 am |
  20. Sarah.....and my last name isn't Palin!

    Reform your campaign first McCain.

    September 15, 2008 10:34 am at 10:34 am |
  21. Dana

    Oh here we When he can sit down and actually explain how HE can reform Washington then it won't smell so much like... ya know...

    When your campaign is run by lobbyists who fought to loosen the strings of these financial giants so they could run themselves into the ground along- taking Americans down with them... you really can not justifiably say you are going to "reform" anything... give me a break!!
    You know whats the saddest- all the CEO's will walk out with severence packages bigger than we make in 10 years- and the rest of their employees will be added to the unemployment statistics!
    This is a sad day!! Add it to the list i guess!

    September 15, 2008 10:34 am at 10:34 am |
  22. Virginian

    John McCain can't even clean up his own campaign, and has chosen an obvious fellow coverup-type for his running mate in Sarah Palin.

    Shame on you, McCain, to think we Americans are stupid and unable to see through your empty and deceptive acts and ads.

    Taxes will need to rise to stabilize our economy and create American jobs through work projects such as infrastructure repair. Lower taxes, both personal and most fool heartedly, corporate taxes, and you will risk a second Great Depression for America. Speak the truth, John McCain.

    Since you can't even get this basic fact right, you have no business being our President!

    September 15, 2008 10:34 am at 10:34 am |
  23. Reality Check

    Reform what? McCain wants more tax cuts and Palin couldn't explain "Micro" and "Macro" economics if it were poured into her head. These two a part of the problem not the solution.

    September 15, 2008 10:34 am at 10:34 am |
  24. Darrell

    McCain, you better put your felt pen down and get a computer.Wall Street now uses computers.As you have said and proven over, and over, you don't know much about the economy so better take your earmark queen of lies to help you.If she can put a town of 6000 in debt over 20 million imagine what you can both do for Wall Street.Maybe you can put Wall Street on e-bay ? Your partner in lies will not be able to work at home 312 days on this one, she will actually have to go work.

    September 15, 2008 10:34 am at 10:34 am |
  25. David Orbach, New York, NY

    Not to worry. It's just a "mental" bankruptcy. If you'd all stop whining and pull yourselves up by your bootstraps. . .

    September 15, 2008 10:34 am at 10:34 am |
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