The games begin! Obama is bringing back McCain's political shame...The Keating 5.
Lets talk about The Keating 5 (with the help of LA Times)
McCain took campaign contributions and favors from Charles Keating who ran a savings and loan association. McCain got free vacations and other wonderful stuff from Keating. In return, McCain voted consistently against congressional efforts to tighten regulation of Lincoln Savings & Loan and in 1987, when he learned that Keating was the object of a federal investigation, he did everything to keep folks away from his main man.
Well, when folks start losing money, Keating kept that info from regulators. He tricked his customers to go from insured accounts to uninsured and broke bonds from one of his companies. In 1989, the company fell out and more than 20,000 of Lincoln's customers lost their savings.
Keating went to prison, and McCain's Senate career almost ended. Together with the rest of the so-called Keating Five -- Sens. Alan Cranston (D-Calif.), John Glenn (D-Ohio), Don Riegle (D-Mich.) and Dennis DeConcini (D-Ariz.), all of whom had also accepted large donations from Keating and intervened on his behalf -- McCain was investigated by the Senate Ethics Committee and ultimately reprimanded for "poor judgment."
That's The Keating 5. And it's a fair smear for smear I think. This linkage is better than the terrorists one because this one was a real deal. People actually suffered from this mess. And this issue speaks to the economic crisis and McCain's poor judgments.
See, throwing stones has brought a mudslide, McCain. This campaign is going to get very interesting.
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