New McCain Ad: 'Rein'

Script For "Rein" (TV 1:00)

ANNCR: John McCain fought to rein in Fannie and Freddie.

The Post says: McCain "pushed for stronger regulation"..."while Mr. Obama was notably silent."

But, Democrats blocked the reforms.

Loans soared.

Then, the bubble burst.

And, taxpayers are on the hook for billions.

Bill Clinton knows who is responsible.

PRESIDENT BILL CLINTON: "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."

ANNCR: You're right, Mr. President. It didn't have to happen.

JOHN MCCAIN: I'm John McCain and I approve this message.