weswelker#83

The Keating scandal is eerily similar to today's credit crisis, where a lack of regulation and cozy relationships between the financial industry and Congress has allowed banks to make risky loans and profit by bending the rules. And in both cases, John McCain's judgment and values have placed him on the wrong side of history.

Keating Economics



Time Magazine 1989: "A Legal Bank Robbery"
http://www.time.com/time/magazine/ar...959094,00.html


New York Times 1989: "Washington Talk; To Senator McCain, the Savings and Loan Affair Is Now a Personal Demon"
http://query.nytimes.com/gst/fullpag...51C1A96F948260



Phoenix New Times Nov. 1989: "McCain: The Most Reprehensible of the Keating Five"
http://www.phoenixnewtimes.com/1989-...keating-five/1

Michael

It's too bad Obama only has 2 years in the senate to look at. Oh well 2 years of voting present and 2 years of campaigning he's ready to be the President.

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Holy Diver

Michael,

I'm calling you out on a subject change....

Start a new thread, follow the rules! You weren't even dragged into defnding McCain, you just decided to run with a BS talking point.....SHAME!

BOOOOOOOOO!


This thread is titled "Keating Economics" not Obama's Senate experience!

weswelker#83

McCain did two things wrong in this scandal.

1- He committed Ethics violations while he was a member of the House (mostly dealing with loans and things Keating paid for).

2- He met with the group of regulators on Keatings behalf while in the Senate.

The Senate went after people for 2 reasons: His Ethics violations in regards to Keating (1.) were not pursued because the Senate has no authority to reprimand House members and McCain was in the house when the fraud happened.


it s too bad , Mccain did business with the real crooks of America who sucked this countrys blood.

weswelker#83

I wont be surprised if you get an "accidental" infraction and becoming with the red square team .
Careful ,watch your back now!

Holy Diver

Michael gets a lot of call outs from me...One of which pionts out that his 'infraction' light is turned off....he thinks its dumb. I agree, but leave the option for people to voice their frustration.

Its all in good fun.

Michael

I won't give him an infraction for speaking his mind in here. Obviously the rules don't apply in here. Or a lot would of probably been banned by now. And reputation points has nothing to do with the infraction system.

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Michael

Hey , I listen.

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Michael

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lostjumper

The Obama campaign bringing up Keaton Economics is not the smartest idea. At the core of this financial crisis is Freddie and Fannie cooking the books to the tune of 11 billion dollars. Over the years, they have donated millions of dollars to Senator Dodd, head of the finance oversight committee, and Senator Obama, deeply entwined with ACORN and other organizations that pushed for less regulation(in the name of fair housing) over the loan industry.

In the private sector, we call this bribes. Yes, when you get to the core of it, Senate Democrats accepted bribes from Fanny and Freddie and in turn stopped regulation in the loan industry and turned a blind eye to their illegal accounting practices.