September 15, 2008 Palin: Regulatory system needs 'complete overhaul' Play video

(NECN: Golden, CO) - Republican vice presidential nominee, Alaska Governor Sarah Palin, addressed the problems with the U.S. economy during a campaign stump in Golden, Colorado this morning.

"This crisis is an issue of real concern for the people across this great country. It's taking a toll on this economy...I'm glad to see that in this case the Federal Reserve and the Treasury have said "no" to bail out another one -- this time Lehman Brothers," said Palin.

"This crisis happened for several reasons, which have to be addressed right now. Our regulatory system is outdated and it needs a complete overhaul. Washington has ignored this. Washington has been asleep at the switch," said Palin.

"John McCain and I are going to put an end to the mismanagement and abuses in Washington and on Wall Street that have resulted in this financial crisis. We are going to reform the way Wall Street does business," said Palin.