Posted on 10/05/2008 11:19:09 PM PDT by jenk
There was one Republican in the Keating Five, John McCain. Alan Cranston-Democrat, Dennis DeConcini-Democrat, Don Riegle-Democrat, John Glenn-Democrat and John McCain.
A Formative Scandal
A Formative Scandal
Mr. McCain started his career like many other aspiring politicians, eagerly courting the wealthy and powerful. A Vietnam war hero and Senate liaison for the Navy, he arrived in Arizona in 1980 after his second marriage, to Cindy Hensley, the heiress to a beer fortune there. He quickly started looking for a Congressional district where he could run.
Mr. Keating, a Phoenix financier and real estate developer, became an early sponsor and, soon, a friend. He was a man of great confidence and daring, Mr. McCain recalled in his memoir. “People like that appeal to me,” he continued. “I have sometimes forgotten that wisdom and a strong sense of public responsibility are much more admirable qualities.”
During Mr. McCain’s four years in the House, Mr. Keating, his family and his business associates contributed heavily to his political campaigns. The banker gave Mr. McCain free rides on his private jet, a violation of Congressional ethics rules (he later said it was an oversight and paid for the trips). They vacationed together in the Bahamas. And in 1986, the year Mr. McCain was elected to the Senate, his wife joined Mr. Keating in investing in an Arizona shopping mall.
Mr. Keating had taken over the Lincoln Savings and Loan Association and used its federally insured deposits to gamble on risky real estate and other investments. He pressed Mr. McCain and other lawmakers to help hold back federal banking regulators.
For years, Mr. McCain complied. At Mr. Keating’s request, he wrote several letters to regulators, introduced legislation and helped secure the nomination of a Keating associate to a banking regulatory board.
By early 1987, though, the thrift was careering toward disaster. Mr. McCain agreed to join several senators, eventually known as the Keating Five, for two private meetings with regulators to urge them to ease up. “Why didn’t I fully grasp the unusual appearance of such a meeting?” Mr. McCain later lamented in his memoir.
When Lincoln went bankrupt in 1989 — one of the biggest collapses of the savings and loan crisis, costing taxpayers $3.4 billion — the Keating Five became infamous. The scandal sent Mr. Keating to prison and ended the careers of three senators, who were rebuked by the Senate Ethics Committee in 1991 for intervening. Mr. McCain, who had been a less aggressive advocate for Mr. Keating than the others, was reprimanded only for “poor judgment” and was re-elected the next year.
Some people involved think Mr. McCain got off too lightly. William Black, one of the banking regulators the senator met with, argued that Mrs. McCain’s investment with Mr. Keating created an obvious conflict of interest for her husband. (Mr. McCain had said a prenuptial agreement divided the couple’s assets.) He should not be able to “put this behind him,” Mr. Black said. “It sullied his integrity.”
Mr. McCain has since described the episode as a unique humiliation. “If I do not repress the memory, its recollection still provokes a vague but real feeling that I had lost something very important,” he wrote in his memoir. “I still wince thinking about it."
Shush...don’t remind them. Let them think they are hurting McCain since they are so stupid.
So is the Fannie/Freddie meltdown, but that hasn’t stopped Obama’s numbers from going up since it broke. They control the media.
And Clinton appoints DeConcini to Freddie Macs BOD in ‘95.
So Obama is about to say an accusation of hanging around with terrorists is the same as an accusation of hanging around with Democrats...therefore Democrats become tantamount in scope with terrorists. His party should love him for this.
I think it was FoxNews who had on the Democrat in charge of the investigation, I forgot his name, — it was a while ago. He said that he knew McCain had nothing to do with it, but the Democrats insisted to have a Republican too, he didn’t want to include McCain, but the Dems insisted.
I wish the McCain campaign would find that tape and turn it into an ad, in response to Obama’s accusations.
http://www.youtube.com/watch?v=S8QcpdUtxNQ
How about Obama openly campaigning for his communist cousin Odinga who signed a pact with Muslims to enact Sharia Law if elected and started riots when he lost. Obama campaigned for an openly Anti-American candidate in a foreign country in 2006.
Scandals? Scandals? Hannity are you listenting?
Keating huh!? Well then, McCain will just have to raise the stakes to something like say..... Odinga!
As they say, its not wise to wake the sleeping giant. Perhaps McCain will decide for himself personally, that enough is enough. Time for some Straight Talk about Messers Obama and company.
Hmm. Methinks it’s time for this lovely skeleton to make its way out of Barack’s closet and onto the main stage, no?
It Was Bill Bennett ,He also said that one thing he found was that John Mccain is an Honest Man
mark for later
Bob Bennett. Bill is a Republican, Bob is a Democrat.
sorry
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