McCain Says Wall Street Woes Point to Regulation Need - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

McCain Says Wall Street Woes Point to Regulation Need

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JACKSONVILLE, Fla. (AP) - Despite today's stock market plunge in
reaction to the uncertain fate of two of Wall Street's oldest
institutions, John McCain says he still believes the nation's
economic fundamentals "are strong."
The Arizona Republican told a rally in Florida that as president
he will clean up Wall Street and "never put America in this
position again."
McCain's comments came in the wake of news that investment
banking giant Lehman Brothers has filed for bankruptcy and that
Merrill Lynch is selling itself to Bank of America for less than
half of its recent value.
The GOP presidential nominee pledged to replace what he called
"an outdated, patchwork quilt of regulatory oversight," and that
he will bring "transparency and accountability to Wall Street."

(Copyright 2008 by The Associated Press.  All Rights Reserved.)