April 12th, 2010
03:31 PM ET
13 years ago

In new TV ad, DNC pushes for financial regulatory overhaul

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/04/12/youtube.0412.gi.jpg caption="In new TV ad, DNC pushes for financial regulatory overhaul."]

Washington (CNN) - The Democratic National Committee announced Monday that it is launching a new television ad focused on changing the rules that govern Wall Street.

"Not Again," a 60-second TV spot, will beginning airing Tuesday in Washington and on national cable outlets, according to a DNC spokesperson. The commercial will air for at least one week, said the spokesperson, who would not offer any further specific details about the buy.

The ad opens with images of storm clouds as viewers are asked to recall the near-collapse of the economy in 2008 when some Wall Street giants faltered and were assisted by financial support from the government.

"2008. Trillions in savings wiped out," an announcer says in the ad. "Millions of jobs lost. Homes and businesses foreclosed on. Wall Street's risk and greed cost us trillions. The result? The worst recession since the Great Depression."

After detailing a number of regulatory changes favored by the White House, the ad closes with an image of Capitol Hill and the message: "Tell Congress we can't afford another financial crisis. Pass President Obama's plan to hold Wall Street accountable... now."

The airing of the ad comes as Congress returns from a two-week recess and will likely turn its attention to financial regulatory reform legislation.

Related on CNNMoney.com: Senate panel OK's Wall Street reform

Filed under: DNC • Political ads • Wall Street
soundoff (28 Responses)
  1. BeverlyNC

    Everyone, but Republicans and their bank buddies, know we desperately need re-regulation of the banks. They have always been regulated until Bush and we have all paid the price for that stupidity.

    Many financial institutions have already returned to the same bad business practices as before. Anything to make one more dollar than last quarter.

    The American taxpayer bailed out the banks and their CEOs and former CEOs act like arrogant jerks who will take no responsibility for their actions and appear insulted we could possibly want to regulate them to protect our financial system from another collapse based on their greed.

    Next to the insurance companies, banks are the next most abusive industry for the average consumer. I know because I spent my career in banking and I know the games they play, the hidden fees, the outsourcing of customer service to countries where the people can barely speak English or even no human customer service at all except an automated system. You cannot even get answers for problems if you go into a branch office.

    No bank is your friend, your partner, your advisor, or your life planner. They are only after how much money they can get out of you and actually would prefer not to have consumer banking at all. Dealing with the average customer is too much of a hassle and costs them money.

    We need to be demanding our Congressmen and Senators enact financial reform/re-regulation immediately. We need protections back in place now.

    Republicans will oppose it because they are corporate backers and not working for the People who elected them. If you hated the Bush bailout of the banks with no rules attached, then you need to stand up and demand financial regulation or you will not vote for that Republican candidate in November.

    It's time to make Republicans choose – their corporate rich white elitist buddies or the People who voted them into their job with benefits no one else in America gets – government healthcare, pensions that equal their absurd salaries, and all kind of perks.

    Republicans have already betrayed the American People many times this year while Democrats held firm for programs to benefit us. Democrats gave us credit card protection (which Republicans fought against), and have been trying to implement financial regulations for months (Republicans are fighting that too).

    Democrats will again deliver what is best for the People and Republicans will oppose it, lie about it, and take bribes from the banking industry (just like they did from the insurance companies) to slow down or stop reform.

    Financial reform now and the removal of all traitor Republicans in November. That would be positive progress for Americans.

    April 12, 2010 04:54 pm at 4:54 pm |
  2. Andrew Smith

    The most important piece of financial regulatory overhaul is to audit the Federal Reserve!

    April 12, 2010 04:55 pm at 4:55 pm |
  3. E. Elliott

    This action is a year over due. More in truth but we could not expect honest reform under Chaney and son.

    April 12, 2010 04:57 pm at 4:57 pm |
1 2