[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/03/31/art.mccain.flags.cnn.jpg caption="John McCain is featured in a new television ad from the DNC about financial regulatory reform."]Washington (CNN) - The Democratic National Committee is launching a new television ad Tuesday accusing Republicans of cozying up with "Wall Street lobbyists" to block financial reform.
The 30-second ad, titled "For Years," will run on national cable for two weeks, according to a DNC spokesman.
"For years, Republicans stood by while Wall Street ran wild," a narrator says in the ad. "Risky bets. Lax regulation. When the economy collapsed, Republicans looked the other way."
The spot then zeroes in on Sen. John McCain, reprising an attack from the 2008 presidential race. Viewers are shown clips of McCain telling voters, "The fundamentals of our economy are strong."
McCain made that argument during the final weeks of the presidential race, even as the financial sector was in full meltdown mode. (His campaign said he was referring to the tenacity of American workers.)
"Now Republicans are working with Wall Street lobbyists to block reform," the ad continues. "Reforms that would protect consumers and prevent a future bailout. Tell Republicans it's time to reform Wall Street."
The House has passed its version of a finance reform bill, and now Democrats are looking to bring a Senate version to the floor for debate this week. The Senate bill, approved by Democrats on the Senate Banking Committee, would set up new regulatory oversight of financial industry practices.
But top Republicans in the Senate argue that the bill would give the government too much power of private industry and are calling for it to be re-worked.