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McCain and The Keating Five

Faithful reader, how many of you under 30 (it’s not fair if we let the older people play, sorry..lol) have ever heard about The Keating Five? Hint..they was linked to the collapse of one major savings and loan- Lincoln Savings and Loan Association. 

Ok..nobody, nobody at all? Well, that’s not surprising..when the US savings and loan crisis was taking place I was still playing with barbie dolls and listening to  Milli Vanilli  ( you were too so don’t laugh didn’t you just love the braids..lol). 

Ok, so you don’t know about it learn more here and below 

The Keating Five scandal probably left the biggest blemish on McCain’s career. And McCain obviously shies away from speaking about his role in the entire affair. Wouldn’t you? If you caused or were accused sorry, of causing thousands of people to lose their life savings would you want to shout it from the rooftops or would you want to crawl under a rock and die? I hope you would chose the latter but anway over the years McCain has rebuilt his reputation and standing in the Senate and the community, character attacks on him have seldom succeeded since he’s now seen as a straight shooter.

But in the next few days you will start to see some character assassination attempts on Barack Obama, by members of McCain’s camp. Some of the attacks might even come directly from John McCain, betcha he goes for the jugular on Tuesday at the presidental debate? But believe me you’re going to hear and read about Obama’s link to ‘terrorists‘. His connection to corrupt Chicago business man Tony Rezko and of course, of course Rev.Wright.

Don’t expect a gentleman’s campaign over the next few days. There will be no October surprises but there will be lots and lots of mud and stone throwing.

Instead, if I were them I would throw away the Republican play book and try to follow the old proverb people in glass houses shouldn’t throw stones because the stuff that might be thrown back, by the Obama team and a press core trying to appear fair, just might demolish my entire house.

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October 31, 2008 Posted by | Politics | , , , | Leave a comment

Keating Firm Raises $50K for McCain

Here’s something that slipped under the radar yesterday.

According to the Center for Responsive Politics, a non-partisan organization that tracks money in elections, employees of a law firm founded by Charles Keating Jr. have bundled more than $50,000 in contributions to Sen. John McCain’s presidential campaign.

Charles Keating

Charles Keating

In amounts ranging from $200 to $2,300, about 30 partners and employees of the legal firm Keating, Muething and Klekamp, as well as their family members, have contributed $50,200 to McCain’s 2008 campaign. All but two of the contributions came in July, and all but three of those July donations were logged on July 31, suggesting they were delivered at the same time. As with any bundle of campaign contributions, it’s difficult to determine which donor was the “bundler,” the person who solicited the contributions on the campaign’s behalf. McCain’s online roster of bundlers, which purports to name any individual bundling $50,000 or more for the campaign, does not associate any of McCain’s major fund-raisers with the Keating firm.

McCain and Keating were forever linked by the “Keating Five” corruption scandal during the savings and loan crisis of the late 1980s. McCain and four other lawmakers were accused of improperly interfering with federal banking regulators investigating Keating’s Lincoln Savings and Loan Assn., which ultimately failed — costing the federal government and investors billions of dollars. Keating spent more than four years in prison as a result.

Read the whole story here.

October 31, 2008 Posted by | Politics | , , , , | Leave a comment