Mon Oct 06, 2008
Keating Economics
I heard about the savings and loan scandal involving Charles Keating and five US congressmen from Alissa. She does a lot more political digging than me. The Obama campaign has put together a documentary about it. It’s pretty scary to think that this actually happened and potentially our next president was directly involved in the scandal.
Excerpt from http://www.keatingeconomics.com/
The current economic crisis demands that we understand John McCain’s attitudes about economic oversight and corporate influence in federal regulation. Nothing illustrates the danger of his approach more clearly than his central role in the savings and loan scandal of the late ’80s and early ’90s.John McCain was accused of improperly aiding his political patron, Charles Keating, chairman of the Lincoln Savings and Loan Association. The bipartisan Senate Ethics Committee launched investigations and formally reprimanded Senator McCain for his role in the scandal — the first such Senator to receive a major party nomination for president. …
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