When: April 15th at 7PM ET
Where: "Kudlow & Company"

Following is the unofficial transcript of a CNBC interview with Republican Presidential Candidate Senator John McCain.

All references must be sourced to CNBC's "Kudlow & Company."

Mel Evans John McCain

LARRY KUDLOW, host: Senator John McCain, welcome back to KUDLOW & COMPANY, sir.

Senator JOHN McCAIN: Thank you, Larry. It's nice to be back.

KUDLOW: Let me begin, in your speech today, and also in recent speeches, you're really blasting corporate greed and reckless corporate conduct. It sounds a little bit like the business attacks by Senator Clinton and Senator Obama. Can you tell us, what do you mean by these criticisms? What are you driving at?

Sen. McCAIN: I'm driving at the people who get compensation which is not approved of by the stockholders, even a nonbinding fashion. I'm talking about people like Mr. Cayne, who the day--right around the time the government took over Bear Stearns--or bailed out, excuse me, bail--Bear Stearns--who went to the market and got $11 a share rather than $10 a share. I'm talking about people that when their corporation has losses, that they are rewarded with exorbitantly high pay packages. And it gives Wall Street a bad name, Larry. And that's--and that's pure and simple. I do not believe in government intervention, I do not believe in government control, I do not believe that. But I do believe we should take steps to increase transparency and also shareholder input into the compensation of CEOs. After all, that's who the CEOs work for. And I also think CEOs and chairmen should have--be different people.

KUDLOW: OK. Well, do you support the say on pay bill? That's a key point. And would you make that mandatory?

Sen. McCAIN: In a nonbinding. I would--I believe in say on pay. I believe that Aflac is--supposedly on May 5th they're going to vote on that. I don't think that stock--shareholders should be prevented from voicing their opinion on it, but I do not believe it should be binding. I think nonbinding is just fine. I think that sends enough of a signal to corporate executives.

KUDLOW: When you are criticizing these corporations, I mean, there's 140 million Americans work for corporations, in rough numbers. Companies are the ones who create jobs in America, they're the ones who really generate the family incomes, and of course companies need capital investment. Do you ever worry that you're sending a very tough anti-business message to the firms, to the work force and to investors?

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