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ARLINGTON, Va., Oct. 10 /Standard Newswire/ -- Today, McCain-Palin 2008 released its latest television ad, entitled "Ambition." The ad highlights Barack Obama's blind ambition that led him to work with unrepentant domestic terrorist Bill Ayers, but when running for president, lie about his longstanding relationship and his bad judgment. Like Barack Obama, his Congressional liberal allies demonstrated their bad judgment in fighting for risky sub-prime loans and against more regulation. Today, millions of Americans are paying for the bad judgment Barack Obama and Congressional liberals demonstrated concerning housing policy. The ad will be televised nationally.

VIEW THE AD HERE: http://www.youtube.com/watch?v=M9JNna5EmJg

Script For "Ambition" (TV :30)

ANNCR: Obama's blind ambition.

When convenient, he worked with terrorist Bill Ayers.

When discovered, he lied.

Obama. Blind ambition. Bad judgment.

Congressional liberals fought for risky sub-prime loans.

Congressional liberals fought against more regulation.

Then, the housing market collapsed costing you billions.

In crisis, we need leadership, not bad judgment.

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

AD FACTS: Script For "Ambition" (TV :30)

ANNCR: Obama's blind ambition. When convenient, he worked with terrorist Bill Ayers.

· Barack Obama's Relationship With Ayers "Went Much Deeper, Ran Much Longer And Was Much More Political Than Obama Said." CNN'S DREW GRIFFIN: "Barack Obama confirmed during a primary debate that he knew Ayers and when pressed, said they served on a charitable foundation board together. And Obama condemned Ayers support of violence. But the relationship between Obama and Ayers went much deeper, ran much longer, and was much more political than Obama said." (CNN's "Anderson Cooper 360," 10/6/08)

· Barack Obama First Met William Ayers In 1995 During His First State Senate Campaign, When Obama Held Event At Home Of Ayers And Wife Bernardine Dohrn, Which One Attendee Said Was Aimed At "Launching Him" In First Campaign For State Senate. "In 1995, State Senator Alice Palmer introduced her chosen successor, Barack Obama, to a few of the district's influential liberals at the home of two well known figures on the local left: William Ayers and Bernardine Dohrn. While Ayers and Dohrn may be thought of in Hyde Park as local activists, they're better known nationally as two of the most notorious -- and unrepentant -- figures from the violent fringe of the 1960s anti-war movement. ... 'I can remember being one of a small group of people who came to Bill Ayers' house to learn that Alice Palmer was stepping down from the senate and running for Congress,' said Dr. Quentin Young, a prominent Chicago physician and advocate for single-payer health care, of the informal gathering at the home of Ayers and his wife, Dohrn. '[Palmer] identified [Obama] as her successor.' ... Dr. Young and another guest, Maria Warren, described it similarly: as an introduction to Hyde Park liberals of the handpicked successor to Palmer, a well-regarded figure on the left. 'When I first met Barack Obama, he was giving a standard, innocuous little talk in the living room of those two legends-in-their-own-minds, Bill Ayers and Bernardine Dohrn,' Warren wrote on her blog in 2005. 'They were launching him -- introducing him to the Hyde Park community as the best thing since sliced bread.'" (Ben Smith, "Obama Once Visited '60s Radicals," The Politico, 1/22/08)

· CNN: The Meeting Was Widely Considered As "Barack Obama's Political Coming Out Party And It Was Hosted By Bill Ayers." CNN'S DREW GRIFFIN: "Anderson, this meeting at Bill Ayers home has been classified in many different ways. What I can tell you from the two people who were actually there, is number one, former Senator Alice Palmer says she, in no way organized this meeting and she was invited and attended it briefly. And Doctor Quentin Young, a retired doctor, told us this indeed was Barack Obama's political coming out party and it was hosted by Bill Ayers." (CNN's "Anderson Cooper 360," 10/6/08)

· Barack Obama Led Education Foundation That "Poured More Than $100 Million Into The Hands Of Community Organizers And Radical Education Activists" And "Translated Mr. Ayers's Radicalism Into Practice." "Despite having authored two autobiographies, Barack Obama has never written about his most important executive experience. From 1995 to 1999, he led an education foundation called the Chicago Annenberg Challenge (CAC), and remained on the board until 2001. The group poured more than $100 million into the hands of community organizers and radical education activists. ... The CAC's agenda flowed from Mr. Ayers's educational philosophy, which called for infusing students and their parents with a radical political commitment, and which downplayed achievement tests in favor of activism. In the mid-1960s, Mr. Ayers taught at a radical alternative school, and served as a community organizer in Cleveland's ghetto. ... CAC translated Mr . Ayers's radicalism into practice. Instead of funding schools directly, it required schools to affiliate with 'external partners,' which actually got the money. Proposals from groups focused on math/science achievement were turned down. Instead CAC disbursed money through various far-left community organizers, such as the Association of Community Organizations for Reform Now (or Acorn)." (Stanley Kurtz, Op-Ed, "Obama and Ayers Pushed Radicalism On Schools," The Wall Street Journal, 9/23/08)

· From March Of 1995 Until September Of 1997, Barack Obama And Ayers Attended At Least Seven Meetings Together Relating To The Chicago Annenberg Challenge. (Chicago Annenberg Challenge, Board Of Directors Meeting, Minutes Of The Board, 3/15/95, 3/31/95, 4/13/95, 6/5/95, 9/30/97; National Annenberg Challenge Evaluation Meeting, List Of Participants, 5/24/95; Chicago Annenberg Challenge, Chicago School Reform Collaborative Meeting, Minutes, 10/23/96)

· In 1997, Barack Obama Praised Ayers' Book On The Juvenile Justice System. "The two men were involved in efforts to reform the city's education system. They appeared together on academic panels, including one organized by Michelle Obama to discuss the juvenile justice system, an area of mutual concern. Mr. Ayers's book on the subject won a rave review in The Chicago Tribune by Mr. Obama, who called it 'a searing and timely account.'" (Jo Becker and Christopher Drew, "Pragmatic Politics, Forged On The South Side," The New York Times, 5/11/08)

· From 1999 To 2002, Barack Obama Served With Ayers On The Board Of Directors For Woods Fund Of Chicago. "[Ayers] served with [Obama] from 1999 to 2002 on the board of the Woods Fund, an anti-poverty group." (Timothy J. Burger, "Obama's Chicago Ties Might Fuel 'Republican Attack Machine'," Bloomberg, 2/15/08)

· Bill Ayers Was A Leader Of "The Violent Left-Wing Activist Group The Weather Underground." "Senator Obama's ties to a former leader of the violent left-wing activist group the Weather Underground are drawing new scrutiny as he battles Senator Clinton for the Democratic presidential nomination." (Russell Berman, "Obama's Ties to Left Come Under Scrutiny," The New York Sun, 2/19/08)

· In The 1970s, Weather Underground Bombed The Capitol And The Pentagon. "As an Illinois state senator in 2001, Mr. Obama accepted a $200 contribution from William Ayers, a founding member of the group that bombed the U.S. Capitol and the Pentagon during the 1970s." (Russell Berman, "Obama's Ties to Left Come Under Scrutiny," The New York Sun, 2/19/08)

· In His Book, Bill Ayers Writes About Participating In The Bombings Of The Capitol And Pentagon. "Now he has written a book, 'Fugitive Days' (Beacon Press, September). Mr. Ayers, who is 56, calls it a memoir, somewhat coyly perhaps, since he also says some of it is fiction. He writes that he participated in the bombings of New York City Police Headquarters in 1970, of the Capitol building in 1971, the Pentagon in 1972." (Dinitia Smith, "No Regrets For A Love Of Explosives," The New York Times, 9/11/01)

· In The September 11, 2001 New York Times, Ayers Was Quoted Saying "I Don't Regret Setting Bombs ... I Feel We Didn't Do Enough." "'I don't regret setting bombs,' Bill Ayers said. 'I feel we didn't do enough.' Mr. Ayers, who spent the 1970's as a fugitive in the Weather Underground, was sitting in the kitchen of his big turn-of-the-19th-century stone house in the Hyde Park district of Chicago." (Dinitia Smith, "No Regrets For A Love Of Explosives," The New York Times, 9/11/01)

ANNCR: When discovered, he lied. Obama. Blind ambition. Bad judgment.

· Barack Obama On Bill Ayers At Democratic Debate: "This Is A Guy Who Lives In My Neighborhood." "This is a guy who lives in my neighborhood, who's a professor of English in Chicago, who I know and who I have not received some official endorsement from. He's not somebody who I exchange ideas from on a regular basis." (Sen. Barack Obama, ABC Democratic Presidential Debate, Philadelphia, PA, 4/16/08)

· Barack Obama's Relationship With Ayers "Went Much Deeper, Ran Much Longer And Was Much More Political Than Obama Said." CNN'S DREW GRIFFIN: "Barack Obama confirmed during a primary debate that he knew Ayers and when pressed, said they served on a charitable foundation board together. And Obama condemned Ayers support of violence. But the relationship between Obama and Ayers went much deeper, ran much longer, and was much more political than Obama said." (CNN's "Anderson Cooper 360," 10/6/08)

ANNCR: Congressional liberals fought for risky sub-prime loans. Congressional liberals fought against more regulation. Then, the housing market collapsed costing you billions. In crisis, we need leadership, not bad judgment. JOHN MCCAIN: I'm John McCain and I approve this message.

· The Community Reinvestment Act, Passed By A Democrat Congress And Enacted Under Carter, "Pushed Banks Into Making More Home Loans To Those With Low And Moderate Incomes - And Disproportionately Risky Credit." "[A]ll along, democrats have been particularly supportive of the Community Reinvestment Act, which pushed banks into making more home loans to those with low and moderate incomes - and disproportionately risky credit." (Editorial, "The Wrong Rx For Wall St.," The New York Post, 9/18/08)

· Many Financial Experts Said The Groundwork For The Crisis Was Laid Decades Ago With The 1977 Community Reinvestment Act. "Though the roots of today's crisis began with the recent collapse of the subprime lending market, many financial experts said, some economists added that the groundwork was laid decades ago. The promotion of homeownership as a national policy during the days of Franklin D. Roosevelt, for example, as well as such legislation as the 1977 Community Reinvestment Act - encouraging banks to meet credit needs in low- and moderate-income communities - helped set the stage, they said." (Keiko Morris, "Wall Street Turmoil: Greed Wasn't Good, The Economists Say," [New York] Newsday, 9/16/08)

· "But The Fact Is, President Bush In 2003 Tried Desperately To Stop Fannie Mae And Freddie Mac From Metastasizing Into The Problem They Have Since Become. Here's The Lead Of A New York Times Story On Sept. 11, 2003: 'The Bush Administration Today Recommended The Most Significant Regulatory Overhaul In The Housing Finance Industry Since The Savings And Loan Crisis A Decade Ago.' Bush Tried To Act. Who Stopped Him? Congress, Especially Democrats With Their Deep Financial And Patronage Ties To The Two Government-Sponsored Enterprises, Fannie And Freddie." (Terry Jones, "Congress Lies Low To Avoid Bailout Blame," Investor's Business Daily, 9/18/08)

· "The Powerhouse Democratic Overseers Of The Banking Committees -- Rep. Barney Frank, Sen. Christopher Dodd And Sen. Chuck Schumer -- Protected Fannie And Freddie." (Robert Novak, Op-Ed, "Crony Image Dogs Paulson's Rescue Effort," Chicago Sun-Times, 7/17/08)

· Sen. Dodd, Sen. Kerry, And Sen. Clinton -- All Top Recipients Of Fannie And Freddie Contributions -- Actively Opposed Reform Measures And Weakened Existing Regulations. "During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, Dodd -- who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 -- actively opposed such measures and further weakened existing regulation." (Al Hubbard and Noam Neusner, Op-Ed, "Where Was Sen. Dodd?" The Washington Post, 9/12/08)

· Sen. Dodd Called The President's Suggestions For Regulations "Inane" And Recommended The President "Immediately Reconsider His Ill-Advised" Proposals. "As recently as last summer, when housing prices had clearly peaked and the mortgage market had started to seize up, Dodd called on Bush to 'immediately reconsider his ill-advised' reform proposals. Frank, now chairman of the House Financial Services Committee, said that the president's suggestion for a strong, independent regulator of Fannie and Freddie was 'inane.'" (Al Hubbard and Noam Neusner, Op-Ed, "Where Was Sen. Dodd?" The Washington Post, 9/12/08)

· In September 2007, Barack Obama Called Subprime Lending "A Good Idea." OBAMA: "Subprime lending started off as a good idea - helping Americans buy homes who couldn't previously afford to." (Barack Obama, "Obama Calls For Greater Openness And Transparency On Wall Street," Press Release, 9/17/07)

· "[C]ongress ... Gave Final Approval To What May Be The Biggest Government Bailout In American History, Authorizing The Bush Administration To Spend $700 Billion To Try To Thaw Frozen Credit Markets And Prevent A Deep Recession." (Lori Montgomery and Paul Kane, "Bush Enacts Historic Financial Rescue," The Washington Post, 10/4/08)