The Mudcat Café TM
Thread #109055   Message #2463778
Posted By: Ebbie
12-Oct-08 - 02:36 PM
Thread Name: BS: Popular views on McCain
Subject: RE: BS: Popular views on McCain
I looked up the Keating Five thing. As Rig said, all of them were Democrats but McCain (always the maverick, eh? Way to go).

According to Rosa Brooks, professor at the Georgetown University Law Center, in 'Keating Five Ring a Bell?', these are among the things that McCain enjoyed from Charles Keating:

* Contributions amounting to "about $200.000 in today's dollars"
* Several free vacations, for both McCain and his family
* Private jet trips*Other perks

In return, the Senator voted repeatedly "against Congressional efforts to tighten regulations of Savings and Loans and in 1987 when he learned that his constituent's savings and loans bank was the target of federal investigation he (McCain) met with regulators in an effort to get them to back off."

Among the exploits of Charles Keating:

Was investing his depositors' federally insured savings in risky ventures. When those lost money, Keathing tried to hide the losses from regulators by inducing his customers to switch from insured accounts to uninsured (and worthless) bonds issued by Lincoln's near-bankrupt parent company. In 1989, it went belly up - and more than 20,000 Lincolns customers saw their savings vanish."

Charles Keating went to prison.

"Together with the rest of the so-called Keating Five - Sens. Alan Cranston, D-California, John Glenn, D-Ohio, Don Riegle, D-Michigan and Dennis DeConcini, D-Arizona, all of whom had also accepted large donations from Keating and intervened on his behalf - McCain was investigated by the Senate Ethics Committee and ultimately reprimanded dor "poor judgment."

I don't know what happened to the other Senators- but they are not runing for President of the United States.