Watchdog Group Links McCain's Ties To Freddie And Fannie With Keating Scandal

On Wednesday, a non-partisan watchdog group unveiled a new ad that compares John McCain's role in the current financial mess to the Keating Five scandal that ensnared him in the late 1980's.

McCain's own ads have hit Barack Obama for receiving donations from Fannie Mae and Freddie Mac. Campaign Money Watch uses the same territory against the Arizona Republican.

"During the Savings and Loan crisis, John McCain was caught red-handed pressuring regulators to go easy on his friend Charles Keating," the ad begins, later adding: "Twenty years later, the lobbying firm owned by John McCain's campaign manager took hidden payments from Freddie Mac."

Watch:

The revelation that McCain campaign manager Rick Davis's firm received payments from the housing giants -- even after the company stopped rendering any discernible services -- has blunted the GOP's attacks against Obama's fundraising haul. But this ad takes the next step, tying McCain's reliance on lobbyists-as-advisers back to the 21-year-old Savings and Loan scandal.

Campaign Money Watch director David Donnelly says that while the ad is only online at the moment, the group hopes to put money into a TV buy in the near future. "It was designed for a media buy," he said, noting that the extensive disclaimer was prepared to fall within all laws regulating 527 ads.

Comments

[toochie50]

Well well johnny boy and sail f ree - it has been said over and over again that Obama does not have a connection to Ayers of any significance - so how does them apples feel - is someone accusing your johnny hate monger boy of wrong doing ...oh go cry me a river.

[suvbaby]

http://www.palinbycomparison.net/

This is very informative from the european perspective

[suvbaby]

http://rationalrevolution.net/war/bush_family_and_the_s.htm

[suvbaby]

http://mccainkeatingfive.com/?p=25

[suvbaby]

http://mccainkeatingfive.com/?p=6

[SailFree]

This watchdog group is a rabid, partisan, lying left-wing organization. The prosecutor of the Keating case said at the time and many times subsequently that JOHN MCCAIN HAD NOTHING TO DO WITH THE SCANDAL. He attended the meeting and refused to participate. His only crime was being a Republican, and they needed a Republican name on the issue to prevent its being recognized that it was entirely a corrupt Democrat scandal. Just like the current mortgage financial crisis is 99% Democrat in origin.

[suvbaby]

You are kidding me. Come back after you have done your homework.

[mervr1]

Finally someone with enough guts to speak up about the Keating Five!

[SailFree]

Finally? Guts? Truth? This is nothing but constantly repeated lies. The truth gets no respect on this website. It is, in the main, nothing but a vehicle for spreading lies and rumor and ignorance. That's cowardly in my book. It takes courage to deal in truth.

"Very seldom, only in rare moments of clarity, only after ages of misapprehension, did a few of them, here and there, now and again, begin to have the deeper insight into the world's nature and man's. And no sooner had this precious insight begun to propagate itself, than it would be blotted out by some small or great disaster, by epidemic disease, by the spontaneous disruption of society, by an access of racial imbecility, by a prolonged bombardment of meteorites, or by the mere cowardice and vertigo that dared not look down the precipice of fact."
--Olaf Stapledon

[stevorama]

Dig those retro specs.

[TakingBackTheUSA]

http://www.desmoinesregister.com/article/20081001/NEWS09/810010377/1056&theme=CAMPAIGN_2008

Within the first minute of the video John McCain says "If I were a dictator, which I've always aspired to be..."

[DavieB36]

it seemed to be a serious statement no sh*t eating grin

[Agnim]

Horrendous similarities between Reaganomics II under the bungling Bush, and voodoo economics or Reaganomics I.

Effects of voodoo economics of Reagan (Reaganomics I):

1. Nation's wealth given away to the wealth-addicts
2. Wealth was gambled away in interest rate markets
3. Not much goods & services created
4. Record budget deficit
5. Savings & Loan Scandal in housing market
6. Hundreds of Billions cost to taxpayers
7. Difference between Reaganomics I and II?
8. Reaganomics II under bush is far more destructive.
9. Taxpayers take a bigger hit!
10. Corrupt, ignorant and ideological opportunist, McCaint, is hell bent on Reaganomics III; because McCaint hasn't the intellectual candle power to learn from the FAILURES OF REAGANOMICS!

[sedum]

Only the voting machines can beat Obama now.

They might !

[RightWingMarine]

I'm having trouble seeing the red handed part of this since Robert S. Bennett (the Democrat who investigated McCain) couldn't find anything other than bad judgement against him.

Even better than that Robert S. Bennett, the same attorney who defended Bill Clinton, has come out in defense of McCain and it is even reported on here in Huffington Post.

Maybe that's why this ad is only on the internet and the Obama camp doesn't make more of the Keating 5 scandal, the Democrat doing the investigation couldn't find anything against the lone Republican in the Keating 5 Scandal. 3 of the 4 Democrats involved in the scandal received harsher critisim than did McCain.

[Hufferton]

But those Democrates are *not* running for president.

[PioneerKing]

the McCAin family is also tied to another banking scandal Silver State Bank.

McCain's son Andrew was at the helm when this bank went under and had to be taken over by the feds.

the McCains some how managed to get their assests out without a loss bot others lost mone as a result of Silver State's failing and McCain's buddies in the main stream media have not bothered to cover this one bit and none of thime have done any substantive investigation into the McCain family investments and their trust funds connections to this bank.

[newpantaloons]

Go here and read the part about McCain's role in the Keating 5 scandal. The entire article is 10 pages long, but it is subtitled, so, since you obviously are averse to research or reading up on your topic, even you should find it easy to locate. Something tells me you won't bother, though...

http://www.rollingstone.com/news/coverstory/make_believe_maverick_the_real_john_mccain/page/1

[RightWingMarine]

why would I be afraid to read an anti-McCain magazine article?

No candidate has ever been perfect. No one has ever agree with every idea and every action of any candidate except for the candidate themselves. McCain is no different, while I don't agree with everything he says or has done I still favor him over Obama.

In regards to the Keating 5 scandal Robert Bennet, the Democrat who investigated McCain during the scandal, has come out in his defense. What more do you want? The special prosecuter of the opposing party is defending the person you are trying to vilify. Do you know something that the Democrat investigator doesn't?

[suvbaby]

Here is a video everyone needs to see. It's extremly powerful

http://www.youtube.com/watch?v=PdJUCU1UH2w

[OlderBudWeiser]

After watching the clip I clicked on the others that appear under the main clip. Much more about Keating and others who were involved. The only thing McKeating should be running for is his life.

[newpantaloons]

Go here. Read this:

http://www.rollingstone.com/news/coverstory/make_believe_maverick_the_real_john_mccain/page/1

[commissaris]

Rick Davis was taking money from Fanny and Freddy right up until the convention: http://www.nytimes.com/2008/09/22/us/politics/22mccain.html?ref=us

[mercuryguy]

Keating 5 !!, I so miss you, glad to see you back on top!!! Hope you have a good time the next 40 days