Friday, September 19, 2008

McCain's Role in the 1980s S&L Crisis: Charles Keating's BFF (Updated)

PDF file, Phoenix Sunday Gazette, September 13, 1993
Charles Keating III and McCain, than a member of the U.S. House, celebrate their August birthdays [McCain's 51st] at the Keatings' beachside estate at
Cat Cay in the Bahamas [1987 photo]

Here's what the prudent action John McCain took last time we let him anywhere the financial system:

firedoglake: John McCain Still Living The Keating Five Lush Highlife

He partied with Charles Keating by night, and by day "carried water" for Keating by pleading his case for less regulation with the Federal Home Loan Bank Board. Which led to the failure of the S&Ls, and left the taxpayers with the $1.3 trillion dollar bill.

You know what, I turned 51 years old this year, and I'm not so stupid that I would be seduced by some rich guy squiring me to his houses around the world. Maybe 20 years ago. Maybe, but I doubt it. Not at the age of 51. I lost my naivete a long time ago. Not John McCain.

If McCain didn't have that much wisdom when he was 51, I rather doubt that he's gained it since.

UPDATE: Here's another good summary of McCain's deceitful role in the Keating 5 scandal.


lovable liberal said...

Something's wrong with the date, since McCain was 51 in 1987. Otherwise, spot on.

truth said...

Yeah, the date is from the article, not the birthday party. It's a review of the S&L crisis that took place in the 1980s.

truth said...

Meant to add, I will try to make that more clear.