Wotta sprize. < /sarcasm >
Does anybody remember that great business venture that John was involved in back in the 1980’s? You know, the Keating Five?
McCain’s involvement in attempts to rescue the California-based Lincoln Savings and Loan Association, chaired by political donor Charles Keating, Jr, during the spectacular collapse of the U.S. savings and loan industry in the 1980s and early 1990s, was highlighted in the 2008 Presidential contest, by the campaign of the Current Occupant now squatting in the White, er, “Rainbow” Hut.
Crony capitalism at its finest.
The others of the “Keating Five” besides McCain, were all Democrats - John Glenn (D-OH), Alan Cranston (D-CA), Donald Riegle (D-MI) and Dennis DeConcini (D-AZ), none of whom are still anywhere near the Senate. Charles Keating, the banker, had been a major contributor to each of their campaigns, donating close to $1.4 million dollars total. And all that bought him a couple years, but ultimately Lincoln Savings & Loan still failed. Its bailout cost taxpayers over $3 billion. Thousands of Lincoln investors lost their life savings.
Obviously NOT too big to fail.