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Home > Blogs > Ohio politics > Archives > 2008 > September > 29 > Entry
McCain vows to clean up Wall Street “corruption”
BEXLEY - With Washington gripped by uncertainty over a proposed $700 billion bailout plan, Republican John McCain on Monday, Sept. 29, pledged as president to clean up the greed on Wall Street that led the nation into the current financial crisis.
“A vote for me will guarantee that the forces that have brought down our economy will be out of business,” he told a cheering crowd estimated at 9,000 at Capital University’s Capital Center. “I will end the corrupt practices on Wall Street and the back room deals in Washington DC. I will hold accountable those responsible for the oversight and protection of consumers, taxpayers and homeowners.”
McCain spoke before the House rejected the bailout plan.
McCain dismissed his Democratic opponent Barack Obama, as he had in their debate Friday, Sept. 26
“You see, when it comes to growing the economy and protecting you from the corruption of Wall Street and Washington, Senator Obama just doesn’t get it,” McCain said.
McCain was accompanied by his wife Cindy and his vice presidential running mate Sarah Palin, who was cheered wildly when she introduced McCain. Palin’s daughter Willow was with the group.
“Americans are tired of the old politics usual. That’s why we need to take the maverick of the Senate and put him in the house, the White House,” said Palin.
Palin was a big hit with the crowd.
“I love her,” said Sharon Wilson, a retired Columbus police officer from Grove City.
“She’s just like I am, a regular person,” said Wilson, 59.
Palin was a big hit with the crowd.
“I love her,” said Sharon Wilson, a retired Columbus police officer from Grove City.
“She’s just like I am, a regular person,” said Wilson, 59.
Groups opposed to McCain also were mobilized.
“John McCain has no clue about working families in Columbus,” Jennifer Farmer, spokeswoman for the Service Employees International Union, said in a press release.
With the widespread belief that the American financial markets are in crisis, and skyrocketing oil prices as a backdrop, several groups today declared that “enough-is-enough”. Following the September 26 debates, the groups, consisting of the Ohio Sierra Club, Progress Ohio, Ohio AFL-CIO and SEIU District 1199, remain convinced that McCain is “out-of-touch” with the issues facing working people. The groups were at Capital University today, offering McCain a textbook lesson on the impact of deregulation in the banking industry on working people in the heartland.
“John McCain has no clue about working families in Columbus” said Jennifer Farmer, Communications Director for the Service Employees International Union.
She and others in the Sierra Club and the Ohio AFL-CIO said McCain has sided with “big oil” and supported deregulating banking.
“We can’t afford another president who sides with Big Oil instead of American consumers,” Teresa McHugh of the Sierra Club said in the release.
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By ed
September 30, 2008 2:41 AM | Link to this
Four years ago that brilliant congresswoman Maxine Waters said Franklin Raines ceo of fannie may was doing a great job. Great job off helping himself.By TRS
September 30, 2008 12:23 AM | Link to this
The amounts Luke quotes pale in comparison with the 90 Million Franklin Raines took out of Fanny Mae, the 75 million Jamie Gurelich took out of Freddie not counting what Johnson got paid - all Obama supporters, some advisors, formal and informal. In 2004 there was a hearing regarding Fannie Mae in which a report was rendered advocating greater oversight. Senator McCain among others agreed; however, Barney Frank and other Democrats said no problem. Thats because Fannie/Freddie were a cash cow for them in terms of contributions. Sorry Luke, your dog just won’t hunt.By Jim 5
September 29, 2008 5:09 PM | Link to this
So, Obama does not pay his advisors? Here’s why: Within Obama ‘s presidential campaign organization, former Fannie Mae chief executive James A. Johnson resigned abruptly as head of the vice presidential search committee after his favorable Countrywide loan became public. - Washington Post July 7, 2008By Joanie
September 29, 2008 5:05 PM | Link to this
Even conservative columnist Katherine Parker says Palin should bow out for the good of the country because she is “out of her league.” What does that tell you about McCain’s judgement?By Jim 5
September 29, 2008 5:02 PM | Link to this
Another Obama insider to go with Franklin Raines: James A. Johnson, the investor who formerly chaired Fannie Mae and Brookings, is also on Obama’s D.C. team. Daschle said Obama is not as anti-K Street as his rhetoric might suggest. “Barack believes that in any democracy that it’s very important that there be advocacy,” Daschle said. - Washington Post Nov. 6, 2007By Luke
September 29, 2008 4:48 PM | Link to this
Aquiles Suarez, economic adviser to the McCain campaign, former director of government and industry relations for Fannie Mae, oversaw $47,510,000 lobbying campaign from 2003 to 2006. Charlie Black, one of McCain’s top aides, earned $820,000 working for Freddie Mac from 1999 to 2004. McCain campaign’s vice-chair, Wayne Berman and congressional liaison, John Green, made $1.14 million working on behalf of Fannie Mae for lobbying firm Ogilvy Government Relations. 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years. Blaming Obama for the deregulation of Freddie and Fannie is false. McCain is deep in bed with deregulators, like I said, just look at his staff…By Luke
September 29, 2008 4:44 PM | Link to this
Aquiles Suarez, economic adviser to the McCain campaign, former director of government and industry relations for Fannie Mae, oversaw $47,510,000 lobbying campaign from 2003 to 2006. Charlie Black, one of McCain’s top aides, earned $820,000 working for Freddie Mac from 1999 to 2004. McCain campaign’s vice-chair, Wayne Berman and congressional liaison, John Green, made $1.14 million working on behalf of Fannie Mae for lobbying firm Ogilvy Government Relations. 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years. Blaming Obama for the deregulation of Freddie and Fannie is false. McCain is deep in bed with deregulators, like I said, just look at his staff…By Ethel S.
September 29, 2008 4:30 PM | Link to this
Sen. McCain said that there were enough regulations including the one to relax the mortgage eligibility. What was needed was clarify of the regulations and accountability. When Sen. Obama was called to account on many of his issues, he just threw his challenges under the bus and had no real solutions. It is sickening to see Sen. Obama get $126,000 in campaign contributions and then act like he is a different kind of politicain. At least, Sen. McCain tried to do what he could do to add accountability to the baillout and Sen. Obama and his Dem friends thought it was interference. It was not interference alright Sen. McCain was trying to get the fat cats in Wall Street to stop “taking” more and more of our tax dollars. I support Sen. McCain because he is trying his best to fight this mess. Sen. Obama does not seem to say much about this mess. Go McCain/Palin!!By Jim 5
September 29, 2008 4:07 PM | Link to this
The Democrats in congress are guilty of the de-regulation of Fannie Mae and Freddie Mac. Congressional Democrats repeatedly stopped attempts to regulate the corrupt mortgage giants through the Office of Federal Housing Enterprise Oversight (Google: OFHEO). Don’t try to blame John McCain when it was Obama and company who looked the other way on corruption.By Luke
September 29, 2008 3:33 PM | Link to this
Please, Palin is no regular person. She’s clearly been calling the kettle black. She’s going to have plenty of trouble facing her constituents after this election ends. I agree, Phill Gramm is one of the key villains in the financial deregulation crisis. McCain’s been there right by his side the entire time. Taking a closer look at McCain’s campaign staff, it’s hard to believe the lineup of hard core deregulation lobbyists advising him. I find it very difficult to argue that McCain can do anything financially other than drive our economy further into the ground. The Keating Five scandal is an ominous event here.By Tom Smith
September 29, 2008 3:17 PM | Link to this
War monger…don’t know anyone who loves war. Just put down your war protest sign and ask any member of the military. Do you think McCain loved war while rotting in North Vietnam for 5 years? He could have sold out his country for his early release, but chose to stay. That doesn’t sound like selling out. No homeowner has been sold out by politicians. Homeowners who purchased homes above their income levels and via lousy adjustable rate mortgage products and the community activist organizations (ACORN comes to mind) who blackmailed lenders into granting credit to those unqualified buyers are to blame for this mess. Why would America make decisions to cater to world approval? Their interests are not the same.By Ted
September 29, 2008 2:59 PM | Link to this
Wake up Nativegirl, if Obama-Barry is elected president you will see the largest stoppage of investment in our country’s market systems, one that not even you or your “idealist” and “elitist” friends could ever imagine. Obama is so coached on what to say it is nauseating. He has no legislative accomplishments or practical work experience that qualifies him to be president. If the democratic machine pulls off the theft of this election we are in big big trouble.By nativegirl
September 29, 2008 2:42 PM | Link to this
To Tom smith, if Obama is not what you need, that only leaves McCain the war monger. Are you crazy. This guy will have WWIII within 2 month’s of being elected. He is a lazy, hypocritical, self-centered, corrupt politician. The Vet’s know what he isn’t doing for them. The homeowners know he has sold them out to his buddies, his faith..he is whatever you want him to be. Hero? Know way, knowhow, knowwhere…hero’s do self-indulge for decade’s while leaving other POW’s and MIA’s out there to rot. He is just another corrupt politician wanting a legacy and power of the entire earth. America has lost it’s moral compass and value around the World. Find out for yourself, what other leaders think of the gambler.By nativegirl
September 29, 2008 2:42 PM | Link to this
To Tom smith, if Obama is not what you need, that only leaves McCain the war monger. Are you crazy. This guy will have WWIII within 2 month’s of being elected. He is a lazy, hypocritical, self-centered, corrupt politician. The Vet’s know what he isn’t doing for them. The homeowners know he has sold them out to his buddies, his faith..he is whatever you want him to be. Hero? Know way, knowhow, knowwhere…hero’s do self-indulge for decade’s while leaving other POW’s and MIA’s out there to rot. He is just another corrupt politician wanting a legacy and power of the entire earth. America has lost it’s moral compass and value around the World. Find out for yourself, what other leaders think of the gambler.By Jim 5
September 29, 2008 1:54 PM | Link to this
Why does the Democratic Congress consider private Social Security accounts too risky, but risking $700 billion to bail out collapsing investment banks is okay? Can an Obama supporter explain how Congress investing in corrupt Wall Street firms is more secure than individual taxpayers choosing to invest in working companies?By Tom Smith
September 29, 2008 1:53 PM | Link to this
Another typical DDN article…report on the highlights of McCain’s speech, then devote the next 1/3 of the article condemning him. Journalism is dead in American. Wake up America, stop supporting the liberal media and their bias towards the Democrats! Obama’s brand of change is not what we need!By nativegirl
September 29, 2008 1:47 PM | Link to this
Clean up corruption? I heard him this morning, and it really disappoints me that he has nothing to offer but lies, both him and Palin are masters of lies. This has been going on for years with both of them. Please people vote wisely.By someone
September 29, 2008 1:43 PM | Link to this
hey folks, you all need to watch this movie…go to www.zeitgeistmovie.com very interesting stuff about the war and politics and the big banks.By C A Wren
September 29, 2008 1:35 PM | Link to this
Fundamentally Sound? We owe China $500 Billion The Republican administration (This includes McCain and his past economic advisor Phil Gramm) had six years of full reign in Washington. The result is obvious. Our country faces a HUGE deficit. We have been spending money in a very expensive store (The Iraq War) and saying that no one had to pay for it. Under the republicans many wealthy American companies and their CEO’s have eluded paying their fair share of taxes by an array of loop holes. We have been borrowing money from China to finance a war and buy oil from the Middle East. Right now we owe China 500 billion. How did we get into this position? WE as country are broke…. I guarantee the wealthy CEOs of this country are not altering their vacation plans.