The Democratic Senatorial Campaign Committee on Friday released one of the first television ads that sought to capitalize politically on the financial crisis, charging Colorado Republican Senate candidate Bob Schaffer with complicity in the Wall Street meltdown.

The DSCC, heavily engaged in an effort to flip the Senate seat being vacated by Sen. Wayne Allard (R-Colo.), has gone up with an 30-second television spot in the Centennial State that blames President Bush for the economic “meltdown” and accuses Schaffer of supporting the Bush administration policies that “brought us here.”

Schaffer, a former Congressman, is running against Rep. Mark Udall (D). Allard is retiring after two terms.

“Our economy is in a meltdown. But it didn’t just happen. George Bush’s economic policies brought us here,” the ad’s voiceover says. “And Bob Schaffer wants to continue them.”

The Schaffer campaign responded swiftly, saying the DSCC was outright lying, while noting that the former GOP Congressman has been out of office since 2002.

“It’s Boulder liberal Mark Udall who’s been in Congress for the last 10 years,” Schaffer campaign strategist Dick Wadhams said. “It’s just another lie from the DSCC.”

The DSCC ad, another of the many independent expenditure spots that it has run in Colorado and other targeted states, appears to attempt to directly tie Schaffer to the financial crisis that has hit the Wall Street credit markets. Congressional leaders and the Bush administration were continuing Friday to negotiate on a rescue package for the flagging financial sector.

“Weak regulators. Lax oversight. Anything goes on Wall Street,” the ad’s voiceover says. “Schaffer wants to continue the policies that have cost us jobs, created record deficits and left our economy in a shambles.”