[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/09/30/art.billcad.cnn.jpg caption="The McCain campaign is highlighting a recent Clinton interview in a new ad."](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.
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.