Clinton's Remarks on McCain, Bush in Harrisburg

Reporting from TIME's Jay Newton-Small:

"Today the administration through the Secretary of the Treasury has announced that finally the Bush administration is going to take some action to better regulate the financial markets. After years of a ‘wait and don't see' approach to the regulatory failures that led to the housing and the credit crisis, they have announced a plan that comes late and falls short. No amount of rearranging the deck chairs can hide the fact that our housing and credit markets are in crisis and they are sinking deeper everyday. Everyday we fail to take aggressive action is a day lost.

"Senator McCain recently gave a speech on the economy. And best I could determine, his plan was not to have a plan. If he got the 3am call on the economy he would just let the phone ring and ring and ring."