The REAL McCain Blog - Current Economic Meltdown Just Like McCain’s Keating 5 Scandal

Keep tabs on the REAL McCain

Contribute to Brave New Films

The REAL McCain Blog / Home

Current Economic Meltdown Just Like McCain’s Keating 5 Scandal

Posted on September 21st, 2008 by DJK -

Not many people (including myself) know a lot about John McCain and how he is a member of the Keating 5, a group of senators largely responsible for the savings and loan crisis of the late 1980s. But here’s a hint — it’s almost exactly like what is happening in our economy right now, only on a smaller scale. An industry making outrageously risky deals, a lack of oversight, and politicians (including McCain) fighting for less regulation over the offending industry, claiming the magical “free market” would take care of any improprieties. And the ending was the same, too — a massive taxpayer bailout.

Progressive Accountability has produced a new documentary, Third Term, which explores McCain’s involvement in the Keating 5 and how McCain’s economic policies are identical to or worse than Bush’s. Third Term won’t come out until September 25 (can’t they bump that up a little sooner?), but the preview makes a nifty summary of McCain’s involvement in one of the nation’s biggest economic/ethics scandals. That is, until this week.

Viewing 3 Comments

j. McClelland 10/09/2008 08:53 AM 1 point
Please login to rate.

Do you already have an account? Log in and claim this comment.

The Manchurian Candidate (Novel and Movie)

Captain Bennett Marco, Sergeant Raymond Shaw and the rest of their platoon are captured during the Korean War in 1952. They are all brainwashed into believing Shaw saved their lives in combat. Years after the war is over, Marco, now an intelligence officer, begins to have a recurring nightmare in which Shaw murders two of his comrades while being watched by Chinese and Russian officials. When he learns that another platoon member has been having the same dream, he sets out to uncover the mystery.

The Communists use Shaw as a sleeper agent and, using the queen of diamonds in a deck of playing cards as a subconscious trigger, compel him to follow their orders, which he does not remember afterwards.

Could we have a “Hanoi Candidate” on our hands?

In addition, when the POW’s were released from Vietnam, some of the officers filled charged against two of the enlisted men for collaborating with the enemy. It was determined that the enlisted men were “broken” by torture and did collaborate. Charges were dropped when it was discovered that every single POW was “broken” and collaborated. Breaking under brutal torture, such as all of these men received, is understandable. Was McCain one of the hypocrites who filed charges?

reply edit reblog flag

Mer 10/08/2008 05:21 PM 1 point
Please login to rate.

Do you already have an account? Log in and claim this comment.

To: Pierce. The REAL truth is that Fannie and Freddie are one of the largest contributors for both Dems and Republicans. So I find it interesting that McCain can say over and over again how he tried to "stop" the fall out from Freddie/Fannie all the while taking money from them. The fact is no one, not even John McCain could predict (as he admitted on air) that it would get this bad. No one saw it coming no matter what they try and tell you. The facts are that McCain has been voting alongside Bush's budget proposals in the past and had his hands in the Keating five no matter how deep. How can we trust someone with that record to fix our economic problems now?

reply edit reblog flag

Pierce 10/07/2008 03:04 PM 1 point
Please login to rate.

Do you already have an account? Log in and claim this comment.

Wow. This is SO misleading it is disgusting. This isn't the 1980's. Republicans and deregulation did NOT cause this crisis. Please stop misleading people on the REAL truth. And no, this isn't a "smaller scale", this is WORSE than that of the 80's and you can thank such people as Barack Obama and his advisors/fundraisers like FRANK RAINES, JIM JOHSNON...so to act as if DEREGULATION was the problem is absurd. The TRUE problem lies in the corruption of certain democratic congressmen who were turning their backs while in the back pocket of Fannie/Freddie while all the interim-executives were getting paid MILLIONS. Disgusting. View this if you beg to differ:

http://www.youtube.com/watch?v...

And if you're not convinced:

http://www.youtube.com/watch?v...

reply edit reblog flag