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

[mnash]

Hope this goes further A lot of people don't know about this. It is finally coming out.

[DebbieinPhx]

Speaking of HOPE, who needs a good laugh today? One of my friends sent this to me. I liked it so much I set it as my Background... bwhahahaha­hahhaaaa..­.. enjoy:


http://i83.photobucket.com/albums/j294/jakedrake/johnmcain.jpg

[quindy]

EXCELLENT

[evekendall]

McCain = Economic meltdown

http://www.alternet.org/workplace/99234/mccain_enabled_our_economic_meltdown/

[JackWalsh]

The S&L crisis was probably the worst banking scandal in the U.S. prior to the meltdown that we are now experiencing. John McCain (one of the Keating five) was accepting money from Charles Keating and watching out for Keatings interests in the Congress. Keating was convicted and sent to prison while McCain got only a slap on the wrist from his cronies in the Congress. It's time to change the Congress. Vote out all incumbent members of Congress that are up for re-election on November 4th.

http:/web.­mac.com/jo­hngwalsh

[Belleweathered]

McCain: The Worst of the Keating 5
http://www.phoenixnewtimes.com/1989-11-29/news/mccain-the-most-reprehensible-of-the-keating-five/1

[wazzucoug]

John McCain was a key player in the Keating 5. It's the worst scandal to ever rock the United States Senate. It cost taxpayers several billions of dollars, not to mention the life savings of good, decent hardworking people. Charles Keating went to prison for a mere 4 years and McCain received a slap on the wrist. Now he wants to be our president. He should have gone to prison, where he belongs. This is a man who is dangerously out of touch with the everyday issues facing ordinary Americans. He cares only about himself, the rich and the well connected. Look at the facts-we are on the brink of extinction of being the greatest nation on the face of this earth-an economic crisis not seen since the days of Pres. Hoover, the Iraq war, the energy debacle, the cost of living rising while wages are going down, the list goes on and on. There's never been a clearer choice! Obama-Biden '08!

[only1Demvoter]

Let's talk obout the party of zero moral compass, with their holier than thou facade of rhetoric.

http://www.bloomington.in.us/~jhurd/flynt.html

McPow calls this dou che bag ' friend ' !!

... Buddies with Neil B ush too...


More to follow. -ralph

[Beninn]

You have to ask what's the matter with the people of Arizona that they sent McCain back to the Senate.

Ultimately, the fault lies with We, the People. This is what happens when we become a shallow, entertainment, celebrity-obsessed culture, disinterested in politics and government, leaving to others what we are too bored by.

This is our government, and we have let these crooks off the hook to deceive us all over again as we spend years distracted by American Idol.

[66rock]

Here in AZ, McCain has had a free run from the conservative major newspaper(there is only one major one in entire state)and he married into a family with a lot of influence.

When Keating's daughter died about 10 years ago, Every person in power in Phoenix, media included, was at the church , they still hold him in such high regard that a card or flowers wasn't enough, they had to Attend to shake hands with Keating himself,fresh from prison. I watched in amazement.

Why has he been re-elected, can't even answer that but this state needs some really good investigative nNational reporters here.

I was there( working)and saw everyone Except Mr and Mrs McCain. If he was there, I didn't recognize him at the time. McCain was the thickest with Keating family previously.

McCain says with pride that he hasn't brought any earmarks back to his state. True.
The bad news is that this state has a woefully poor highway system and the little rain we get, when it does rain, it floods and small bridges have been known to collapse.

[iChoose]

Slap this creepy guy with Keating 5 when it is appropriate. May be not now. But keep this as an option to hit him harder if needed. But Obama should hit this guy back harder and harder. He will do and say anything to get elected.

[MRb1000]

What a crook he is doing the same thing he did 17 years ago. He bashed the same people for his own gain.

[PioneerKing]

McCain's family is involved with a 21st century Keating scandal and the main sream media has given McCain a pass on it.

Current problems are similar to the problems that caused Silver Star Bank to fold.

McCain's son Andrew was involved in Silver Star Bank costing American taxpayers billions of dollars in debt, just as the Keating Five scandal left American taxpayers with billions of debt.

"Nevada regulators closed Silver State and the FDIC was appointed receiver of the bank, based in Henderson, Nev."

"Construction and development loans have been the fastest-growing category of troubled loans for U.S. banks, and many banks have heavy concentrations of them in their portfolios, according to the FDIC."

"Silver State Bank ran into difficulty because of a substantial amount of "poor-quality loans primarily related to real estate development" in southern Nevada and other distressed markets, FDIC spokesman David Barr said. "

"Not a single reporter in the main stream media has looked how the McCain's were able to have their family investments and their family foundation's interests protected while Silver State went belly up."

"MSM has ignored the McCain's Wall Street portfolio and the investments of McCain's campaign advisors that will be protected by the bailouts."

http://www.cbsnews.com/stories/2008/09/06/business/main4422652.shtml

http://www.huffingtonpost.com/jayne-lyn-stahl/andrew-mccain-resigns-fro_b_115233.html

http://www.faulkingtruth.com/Articles/BlogFest/1097.html

[TheGuide]

Good one, thank you.

[ReasonIsMyReligion]

Former McCain co-chair (and guru still), economic sage, and shrink to the nation, Phil Gramm knows what to do.

Heh.

"In a July 9, 2008 interview explaining McCain's plans in reforming the U.S. economy, Gramm downplayed the idea that the nation was in a recession, stating, "You've heard of mental depression; this is a mental recession," and "We have sort of become a nation of whiners, you just hear this constant whining, complaining about a loss of competitiveness, America in decline."[11]"
http://en.wikipedia.org/wiki/Phil_Gramm#Quotations

Whiner #1? AIG, the SEC, the Treasury Secretary... all of the world's financial markets. Close tie.

[timbrehse]

Here's more required reading

The "Enron Loophole"
http://en.wikipedia.org/wiki/Enron_loophole

Financial Services Modernization Act 1999
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Commodity Futures Modernization Act 2000
http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000

The handy work of Phil Gramm
Wonder what he's been up to lately?

[ReasonIsMyReligion]

Thanks. Required reading ahoy.

[JessWonderin]

Seems McKeating has a plan to fix Wall Street . . .

Fire the SEC Chairman (screw the Constitution) and hire "da First Dude" . . he knows how to use back door e-mail, intimidate appointees and generally get the dirty deeds done . . . it will free up Sarah to deal with those pesky Russian Fishermen . . . .

[floydSmoot]

Wow!

He was already totally grey back then.

This guy is old. Perhaps he learned his lesson and just forgot it.

[sherrzinpa]

Umm I'm pretty sure that he was grey when he got back from Vietnam. If not completely, he was well on his way. Have a little bit of sensitivity.

[honeydiva]

Team 0 need to respond to that b s showing with the fannie mae guy....keating five ad now!

[anopenmind]

A little Karma coming back to haunt him – we haven't seen a scandal/Crisis since the S&L scandal. Kind-of Ironic isn’t it?

So John McCain suffers from Bad Judgment, Dishonesty, Lack of Understanding and Tired old Ideas and an Outdated Outlook! Phil Gramm McCain’s good friend and Adviser is the Architect of McCain's Economic Plan & ‘The Architect of the “Deregulation” that helped cause this disaster/Crisis!

[DieHardObamaSupporter]

What do you call a born-again republican?



Same sh*t, different day.