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

[mscriblerus]

It's good to wait for a while to drop the k-5 bomb. The media has been sitting on it's hands regarding it and it's one of those issues that will consume the echo chamber when released. It can be parsed into an attack on McCain's allegiance to unscrupulous big business interests and his commitment to "intervene" in judicial matters like the Palin investigation for his own selfish purposes.
While Mccain is swinging blindly right now with out right lies and talking points, I'm sure the Obama camp is measuring him up and waiting for the right time to throw that right cross. Let them gas themselves screaming rezko and such. As that effort melts into the ether and the desperate, lazy msm is looking for a big wave to ride in the ending election, that big scandal ridden k-5 shoe will drop. McCain will then attack the media again but in an effort to tie everything up nicely before the actually election, the media response will be to actually pull up the facts and give the issue closure. It will be all k-5 through the end of the election.

[mervr1]

I expect the Keating Five scandal to be brought up as a knockout punch during the debates. It's the best opportuntiy to bring it up in front of the world when everyone one is watching and not through some news article that half the people won't read anyway and channels like FOX will try and kill the story. I guarantee people 55 and above will be reminded and remember and anyone that doesn't know will know.

Why bring it out now..Bring it directly to the debates in McCain's face when he will have to answer and try to rebutt it. It's a ace in the hole for Obama, because it's a documented fact that McCain can't dispute no matter how hard they try and spin it.

[smoovejef]

So long as Obama waits til the economic debate, that should work fine, but it can't be an accusation. Just touch on the similarities of all those type of meltdowns, and the effect on the taxpayer. He probably won't even have to say the name 'Keating' to piss off Mac.

[timberdoodle]

My guess is there will be full exposure of the Keating 5 scandal closer to the election dead line. McCain's campaign people haven't shown a lot of intellect so far and this isn't likely to change as Obama's lead in the polls increases their campaign will become more desperate and open the door for justifying the truth being told.

Once the ad comes out the main stream media will have to carry the story as their fear of being scooped is greater than their fear of the corporate advertisers.

[PublicEnemy]

At the debate Obama needs to just keep repeating Keating 5, Keating 5, Keating 5. Even though this first debate is on Foreign Policy he can make that case that our economic strength, or at this moment the lack thereof, is an integral part of a strong foreign policy.

[gladys46]

Exactly !! The German prime minister though so !!!

[keepacoolhead]

There is no prime minister in Germany. Are you talking about the Chancellor Angela Merkel? Supply the quote.

[ErnestineBass]

You mean Putin? LOL

[demandfortruth]

he would be nuts to not argue that the iraq war is straining our economy back home

[deliriousgod]

McCain is doubling-down; no: all-in.

[nikky]

LEST WE FORGET IT WILL HAPPEN AGAIN AGAIN EVERYONE WILL BE IN THE SAME POSITION THEY ARE NOW ONLY THIS TIME NO ONE WILL GO TO JAIL AND MAYBE THE ONLY THING THEY COULD DO IS IMPEACH LET YS PRAY HE DOES NOT GET THAT CHANCE

[Bigeasy]

With the economy in the shape its in and because of not regulating it, now would be the time of the Keating 5 to show how involved McCain was involved in that mess and McCain's stand on dereguation which to this day has'nt changed.

[thecanadian]

Everyone should click on the "Digg" link if you want it to go viral. Need approx 3000 before it really gets out there.

[NamelessGenXer]

I would Digg it, but the fas cists have blocked my IP. Apparently, they can't handle the truth.

[gladys46]

Done !!! Obviously, Mc's take away from Keating was how to fine-tune extortion better under the national radars!?

[Cambridge9]

The old addage - "Fool me once, shame on you. Fool me twice, shame on me." Let's go get him!

Obama/Biden 2008/2012

[CTmom13]

Mccain is UNFIT to be POTUS in many many ways

This country cannot afford McCain/Palin

WAKE UP AMERICA, I don't care if you are from a blue state or red state, think of your children and your grandchildren

MCCAIN IS UNFIT TO BE POTUS and we need to change the direction this country has been going

This is the time
Obama/Biden 08

[BarackMarley]

The fact that he spent time in the Bahamas with Charles Keating and lobbied for him not to be regulated resulted in the greatest financial crisis till now. Learn more about the Keating 5 scandal here

http://www.newsone.com/article/keating-5-scandal-shows-mccains-ties-to-bad-economy

[FogBelter]

In light of what is occurring with the economy and its parallels with the Keating Five Scandal ... it would probably be appropriate to bring it up even if McCain weren't the GOP Nominee. Remember Neil Bush was also involved with the S&L disaster ... that's why he went to China to hide for all these years, probably the Chinese doing a favor for Bush41

This is familiar ground for McCain ... on the wrong side of a monstrous economic scandal.

[DuPageDem]

The question isn't 'will' Keating haunt McCain, the question is how much? That depends corporate media. The Rethug puppet masters want him to win, but only in so weakened a state that when Palin steps up to replace him (for 'health reasons') no one will object. As Alter said, so far he's gotten a free pass on Keating. But McCain has declared open war with his formerly cozy media buddies, a move he might regret if the yakkers decide to actually do their jobs this time.

[TakingBackTheUSA]

The McCain camp has made an entire campaign over Obama's supposed lack of experience and McCain's possession OF experience. Fine then. The public needs to be reminded of his "experience". If Obama's supposed lack of experience is fair game, then John McCain's experience in the Keating 5 investigation is fair game as well.

[WORRIEDinFL]

Great point!... I can't wait for my favorite puppet to make his appearance on TV to try and defend this one, Yeppp come on out Tucker Bounds!

[BlueAsh]

It is a fact that McCain was involved in the Keating Five scandal, even though he got away. So it would not be a negative attack to point out the fact. Why can't the Obama camp simply do that?

[smoovejef]

Because everyone else is. That way, BO takes the high road. Can you imagine McCain-Palin at a campaign stop, and have a constituent ask about Keating and the tie-in to the current fiasco? Not to mention that Big Mac is doing a steady 'scorched earth' campaign on the press, and let's face it, pissing off the fourth estate this close to an election is suicide. If your enemy's ship is imploding, save your torpedos.

[ZDuck]

We need to educate and re-educate Americans about Keating 5. If Obama won't touch it, then we need to do it for him. Letters to the editors, discussions with everyone. Let's get this old, creepy white man from getting in the White House.

[gretcheno]

I'm with ya on not letting him in the WH!!