McCain Ad Highlights Bill Clinton Blaming Democrats For Fannie Mae And Freddie Mac

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When the Bill Clinton interview with Chris Cuomo of ABC News was first reported, reactions from the liberal forums, blogs and websites were also shown, with them criticizing him for giving conservatives and Republicans more ammunition against liberals and Democrats.

Clinton's words were in response to Chris Cuomo asking him "A little surprising for you to hear the Democrats saying, "This came out of nowhere, this is all about the Republicans. We had nothing to do with this." Nancy Pelosi saying it. She signed the '99 Gramm Bill. She knew what was going on with the SEC. They're all sophisticated people. Is that playing politics in this situation?

Clinton's answer, as shown in the McCain video ad above was "Well, maybe everybody does that a little bit. I think the responsibility 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."

Text of the video ad above titled "Rein":

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.

At the time the Bill Clinton interview was released, he was being called and "absolute disgrace" said be the "Underminer" and those were the most polite of criticisms shown.

With the blame game going on in Washington DC at the moment over the failure of the bailout plan not passing the US House, some are trying to determine where the mess on Wall Street started, how it could have been prevented and what can be done about it that will have the support of the American people.

Some liberals believe Bill Clinton handed the ammunition and the weapon to John McCain and he even loaded it for them, and many believe it was only a matter of time before they used it.

Popular opinion is, more of Bill Clinton's interviews over the last couple of weeks, will be part of any ads produced and released by the Republican National Committee and the John McCain campaign as well as outside groups.

According to The Politico, this ad will be aired nationally and it is the first appearance of Bill Clinton in a campaign ad this general election campaign season.