McCain's Economic Policy Keating Five All Over Again (VIDEO)

In a clip from their documentary "Third Term," Progressive Accountability finds a direct tie between John McCain's actions in the Keating Five scandal and his current response to the economic crisis. Watch:

Comments

[votethatone08]

Vote That One 08

MMM... well i guess McCant did it again in the debate last night with his "That One" comment and spawned another cottage industry.

http://www.cafepress.com/votethatone08

[AlteSoldier]

Let us think of this economic crisis in a different way. Say that you had a $10 bill sitting on the top of your kitchen table and your so-called "friend" came to visit your house that day. After your "friend" leaves immediately you notice your $10 is gone. The $10 bill went somewhere and it just didn"t disappear on its on. Your "friend" took it!

Now think of this whole loss on the stock market, plus the no bids government contracts, the trillion-dollar deficit, etc. as your $10 bill that "disappeared." Money just doesn"t disappear like that. Someone walked home with your money off the kitchen table. The question becomes who? Follow the money!

Notice how everyone just tries to say it was a paper loss? But behind some of the paper there is also real money. Real money that is missing from the United States treasury and from the stock markets! Who is getting rich while the United States goes down? That is the real question that needs to be asked. Where did the trillions of dollars go and who is holding the bag with all of the loot?

[pjburns11]

Old man McCain is losing it.

Oh, the webs we weave...
http://thetruthburns.wordpress.com/2008/10/07/the-tragedy-of-maccain/

[anothervoice2]

The real deal on McBush - opportunist, narcissitic, spoilt, mean, petty, elitist, not smart, gambling and drinking problems, womanizer...the list goes on

http://www.rollingstone.com/videos/player/23356460

http://www.rollingstone.com/news/coverstory/make_believe_maverick_the_real_john_mccain

[democratsneedtowin]

Obama campaign: Way to go! Run this video over and over at different times of the day until November 4, along with the video of McCain saying, "I voted with President Bush over 90% of the time. " I love the one about health care, too.

[Tobiasism]

Another Achille's heel for McCain.

He Has no honor!

He thinks that he is honorable but he is dishonorable.

[Clayton139]

(McCain part of the (Keating Five) to the Savings and Loan bailout and more deficit!
Phil and Wendy Gramm helped with the ENRON meltdown. (Wendy set on the board during it)!
Bush/McCain/Phil Gram was behind MORE Deregulation for the Mortgage and Banking Industry last 8 years.
9.6 Trillion in Deficit and add 1 Trillion to it = 10.6 Trillion dollars. Does anyone GET how much 10.6 Trillion is
http://www.deficitsdomatter.org/index.html Please, read down the page...?
Will the rich pay for it, No they have taken there money and run.! We will have too¦!

[wisdom101]

If I was Obama I would wait until mid October and compare the Keating Five to the current Wall Street sitaution. This will not give McSame time to recover the speculaltion. Now, the McCain Camp has already went over their talking points to rebuff the claim, which means, Obama must have all of his facts and ducks in a row before proceeding.

I do believe that the McCain Camp has something up their sleeves as well...

The next 44 days until the elcetion will be harsher , dirty and gutter stuff unlike in campaign history...

[realtalk]

EARLY VOTING FOR THE ELECTION STARTS ON MONDAY -- FIND OUT IF YOU CAN VOTE EARLY
IN- PERSON, IN YOUR STATE, AND GET OUT AND VOTE!!!



BARACK OBAMA/JOE BIDEN 2008

[one4REALchange]

The Keating 5 Scandal, which led to the taxpayers losing $3.4 billion, and the current Wall Street meltdown both have John W. McCain at the heart of each given that both scandals are direct results of greed, the confluence of special interests and political corruption.

Major bank failures? Financial fraud and greed? Political ineptitude? We're seeing these factors play out now in the financial industry, but we saw the same thing 20 years ago, in the biggest scandal of McCain's career.

This is also the practice that has led to the current U.S. economic crisis.

Keating Five were five US Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five, Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly aiding Charles H. Keating, Jr., chairman of the failed Lincoln Savings and Loan Association.

McCain wanted the auditors to let Lincoln continue making real estate loans without carrying out credit checks, a clear violation of the law.

In 1987, McCain tried to force bank regulators to ignore the law for his friend and benefactor, Charlie Keating.

When asked by his aides about the meeting, McCain whistled through his teeth rather than answer their questions.

Sound familiar today? Trying to force lawmakers to ignore Palin"s investigation?

[quadman]

I guess somebody has only done a small bit of homework. Two of the five senators were cleared of any wrongdoing. Those two were McCain and Glenn. They were both criticized for poor judgment for meeting with Keating as it gave the impression of impropriety. Unless you have a secret source with all of the 'inside' information, the public record shoots down the second half of your post.

BTW, DeConcini is a big dog at one of the FMs.

[frantaylor]

Then why does McCain speak of the incident in the way that he does?

[bobdob]

Another must-see vid:

http://www.youtube.com/watch?v=wJThPjvscFs

Send the link to everyone you know.

[mfpsc]

McCain wasn't an onlooker he was one of the Keating five! He made bad decisions then why should we trust him now. His choice of VP shows he still lacks good judgement and doesn''t check into things.

[nccp1870]

I don't understand why the MSM are not explaining the Keating Five and Savings and Loan debacle to the public. We are going through the same thing. deregulation by the Republicans, greedy and deceptive buying of junk, etc . by those banks, collapse, and then, a 1.4 trillion dollar bailout by the taxpayers.

Just saying it was a scandal does not bring the parallel situation clearly into view.

[Nolewoman]

Totally agree. This needs to be out there and hammered over and over and over, until some of these boneheaded conservatives can understand it.

[Fasteddie1515]

The MSM is only concerned about a horse race........damn the people and the truth!

[amcq]

Here we come, the UNITED SOCIALISTIC STATES OF THE WORLD.

[BlueberryJane]

Because he's a "maverick" and they think it's old news but seems rather relevant now.

[fignozzle]

a responsible journalist, as a moderator of a presidential debate, would be irresponsible to not ask about the keating five, i should think.
am i wrong???

[fignozzle]

KEATING FIVE!!

[toochie50]

This man has no business even being near the Whitehouse! Wow. Scandalous.

[toochie50]

Electoral count 9/20/08:
fivethirtyeight.com
Obama: 303
Mcsame: 235 (read all about why Obama's numbers are much higher than expected due to cell phone polling)

Electoral-vote.com
Obama: 273
Mcsame: 265

Realclearpolitics.com (they refuse to update their electoral vote map - repub site)
so without "toss-ups"
Obama: 273
Mcsame: 265

Electoral votes are all that matters !

[mosh]

Mission Accomplished!

The republicans have effectively bankrupted the Federal government, achieving their goal of killing all social 'entitlement' programs, from social security to medicaid/medicare to the SCHIP. And you can forget about universal health care or any kind of reform to the health care system. Nope there will not be a penny left to spend for so-called entitlement programs of any kind. And that was their intention to begin with - which is why they wanted to privatize social security. Can't you just imagine the future debates on health care reform for instance? How those dems will be branded tax and spend liberals trying to destroy the country with the expansion of government?!

And they will get away with it.