Keating Economics: John McCain and the Making of a Financial Crisis
Oct 06, 11:35 AM CST
The Obama campaign has put together a documentary to explain John McCain’s role in the Keating Five Scandal and the S&L crisis of the 1980’s:
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.
The documentary is 13 minutes, but certainly worth watching when you have some time.
For more information, you can visit the website here KeatingEconomics.com.
11:50 am UPDATE: Looks like huge amounts of traffic have slowed down the video. If you can’t get it to load now, tune in later today – it should be fine by then.
– by Eric Van Horn | Send this to a friend
