Will The Keating Five Scandal Come Back To Haunt McCain?

Last night on MSNBC's Countdown With Keith Olbermann, Newsweek's Jonathan Alter wondered how John McCain is "getting a free ride" in this economic crisis after having been at the center of Keating Five, the last big banking scandal. He also notes that instead of coming out of that mess in favor of more regulation, McCain "did nothing to try to prevent another Savings and Loan crisis. He was missing in action." Watch:

The Wall Street Journal touches on the Keating Five scandal and suggests that McCain may have to answer to it after all:

The latest salvo came on Monday when an Obama spokesman, Bill Burton, invoked Charles Keating in hitting back at the McCain campaign for suggesting that Barack Obama had received a pass from the press. Burton said John McCain had been little scrutiny of his association to Keating despite being "centrally involved" in "the last major financial regulatory crisis, resulting in a huge bailout."

Asked by reporters if the Obama campaign planned to make Keating an issue, senior strategist Robert Gibbs was coy: "If we're going to talk about what's fair game in terms of people in a relationship, I don't see how... that wouldn't be important."

Chicago Mayor Richard Daley, who was labeled the leader of a "corrupt" machine in a McCain campaign ad yesterday, suggests he's all for it.

"You had the Keating Five. We had the biggest scandal in America called savings and loan. The biggest scandal, Daley told the Chicago Sun-Times. "So, if people start throwing dirt and mud, remember it comes back and hits you right in the face ... It would be a great ad. Remember: People lost their life savings, their own homes for a guy named Keating out of Arizona."

Comments

[okieannie]

Has everyone forgotten the Abramoff scandle. McCain let his good buddy Tom DeLay off the hook on
that one. He made as much or more than the rest. DeLay was right in the middle of the Indian Casino
deals and he got out with a pass.

[PT6]

In CRISIS can we stand FOUR MONTHS of a POWERLESS PRESIDENT and VICE PRESIDENT?

No! They can not control Their OWN REPUB HOUSE and They are causing MORE DAMAGE!

We MUST START IMPEACHMENT HEARINGS and THE CHARGES ARE:

1. False Statements to Congress and the American People regarding IRAQ.
2. Non-Regulation of Stock, Bond, Banking, and Oil.
3. Non-Enforcement of SEC Rules on "Naked Shorts" that drove Companies to Bankruptcy and Merger.
4. Excessive Leveraging of Oil Market to Force Oil to Record Highs.
5. Non-Regulation of Mortgage Industry that lead to "TRICK" Loans and lost homes.
6. Non-Regulation of Derivatives which combine HIGH RISK LOANS together and Sell as Low Risk.
7. Non-Enforcement of Rules and Regulations in ALL INDUSTRIES.
8. Excessive Executive Pay for POOR PERFORMANCE.

There is literally REAMS of INFORMATION including Video, Audio, Text, Phone, and email evidence to convict these perpetrators.

[BluePride]

The timeline's gotta include the S&L debacle... as well as other robber barron attrocities. We've got the railroads hopscotching land titles for 40 miles on either side of the track. Corporate welfare is ok...

Obama's vision vs McCain/Palin

http://www.youtube.com/watch?v=dVwpMB8QAUU

http://www.youtube.com/watch?v=59mOukUZNUo

[HeIsTheOne]

McCain helped orchestrate a similar financial crisis 20 years ago that required the government to bail out Lincoln Savings for $2 billion.

http://www.youtube.com/watch?v=jxBCAaulG-k

[Lupin77]

MC said over and over again that he knows nothing about the economy, so we should remember that. He doesn't have a clue how to solve the mess we're in now and if he gets in God help us.

[MeanGreenMachine]

Why should He?

What have we done for Him lately?

[ewa]

BUSH/MCCAIN KEATING FIVE THAT ALL FOLKS

[INDmind]

What about Obama surrogate Pritzker? Any word on her?

Obama:The Chicago Years! Still so fuzzy.

[johnnygoodwud]

howard dean also said, 'keating 5' release the hounds, bring in the 527's and give mccain a dose of his own medicine.

[harrymellon]

The answer about the Savings and Loan Crisis and The Keating Five can be found if one googles :
THE FRANKLIN AFFAIR. T
...they never reform because there is dirt on them that would be exposed with compromising photos.

[bibb]

On Morning Joe, Mika started mentioning "Keating 5", but stopped herself after the first syllable. It seemed like she caught herself about to mention something that she shouldn't, and backed off. This made me wonder if there is a "muzzle" on T.V. anchors and commentators preventing most of them from mentioning the scandal. It is just eerie how this scandal has been absent from almost all news programs and shows.

Any argument that this is old news is ridiculous. That would only be the case if everyone knew about it. From what I can see, most people barely know who the candidates are and are still confused about where they stand on most issues (ex. Women thinking McCain is prochoice).

If Obama had been involved instead of McCain, you've got to wonder whether this scandal would have been splashed all over the news. The CEO's need to release the gag order.

[jcrush]

That would be like another country capturing Bin Laden and when we go to prosecute him for 9/11 he says....."Oh c'mon, that's old news."

[alfo]

YES YES YES , it's time to pay the piper,you're lies & spin not even your rovian snakes can give u cover from your past. the keating 5 is just the beginning for MR. DEREGULATION to get his country first bs run over like road kill. mcbush wanted to privatize our S.S. where would we be now. mcbush wants to deregulate the health care are you kidding, he may not know about the economy but his judgement is crystal clear.

[chickcheney]

So, duh, why isn't the Keating 5 being brought up? iIagree with whoever said that "Obama is running his campaign like someone who is 10 points ahead in the polls." Maybe they are saving the big guns for the home stretch. And I will be disappointed if some 3rd party group doesn't inform the public of McCain's first marriage and what went on there.

[ranchosx]

40 % of americans believe in evolution. They are Mc Cain Palin supporters. We have to make sure the edcuated Americans vote this time . Sorry if you don't believe in evolution you are mentally retarded

[AmericanVoice]

Well between the Keating-5, and the Veterans, it should be a no-brainer, that McCain, is not fit to lead tour nation, PERIOD.

Republicans Allege McCain Covered Up His Collaboration with the North Vietnamese While a POW

I thought it most important for the American voting public and the media to know exactly what kind of man we are even considering for the highest office in the land. We should all be so well informed, very informed matter of fact. I have submitted a link, via AlterNet.org, I think would be of great interest to the media world, and the nation as a whole. John McCain needs to come clean and explain himself for this, since he is running on the POW/Honor hero platform. We as Veterans, owe John McCain a swift kick in his Ass, for this unconscionable act against Vets.

Most important, they also believe, as expressed so well in the Senate Select Committee on POW/MIA Affairs final report, that "the single most basic principle of personal honor in America's armed forces is NEVER WILLINGLY TO LEAVE A FELLOW SERVICEMAN BEHIND."

We need a video about his Voting record against Vets, and this terrible reform he "gutted" see below.
http://www.alternet.org/story/99663/

http://www.aiipowmia.com//testimony/hrdlicka1.html

http://www.aiipowmia.com//testimony/benge910tst.html

http://www.aflcio.org/issues/politics/mccain_vets.cfm

[cactusgal]

Keith, you spent a lot of air time talking about the baseball player, Fred Merkel, on Countdown last night. PLEASE devote the same amount of time to a Keating 5 refresher course! Folks need to be reminded about how it parallels today's financial meltdown, and how Mac was involved in it clear up to his truss.

[BillForObama]

Paul Begala just said the K 5 Word!!!!

[marthlois]

He did! Did you see his counterpart kinda panic and try to dismiss it immediately? Begala has been mentioning it this week at every opportunity and firmly believes that it needs to be out there.
So much easier to let the Obama people let everyone else to it.

[marthlois]

Speaking of which, I picked this up over at Jed today.
Seems Mayor Daley was not too happy about the ad trying to link Obama to the so-called corrupt Chicago political establish & Rezko. He had a very aggressive response (as in Keating Five)

MUST SEE:
http://blogs.suntimes.com/sweet/2008/09/mccain_attack_on_obama_and_cor.html