6 October 2008

The Keating Bros

Palin recently took umbrage about someone bringing up the Keating Five Scandal saying that McCain was completely cleared. The Senate Ethics Committee actually reprimanded McCain for "poor judgment." Only some very quick side-steps kept him out of jail. The following exerpt (with ample footnotes) can be found at Wikipedia:

McCain and Keating had become personal friends following their initial contacts in 1981, and McCain was the only one of the five with close social and personal ties to Keating. Like DeConcini, McCain considered Keating a constituent as he lived in Arizona. Between 1982 and 1987, McCain had received $112,000 in political contributions from Keating and his associates.

In addition, McCain's wife Cindy McCain and her father Jim Hensley had invested $359,100 in a Keating shopping center in April 1986, a year before McCain met with the regulators. McCain, his family, and their baby-sitter had made nine trips at Keating's expense, sometimes aboard Keating's jet. Three of the trips were made during vacations to Keating's opulent Bahamas retreat at Cat Cay. McCain did not pay Keating (in the amount of $13,433) for some of the trips until years after they were taken, when he learned that Keating was in trouble over Lincoln. Because of these connections, Phoenix New Times writer Tom Fitzpatrick stated in 1989 that McCain was the "most reprehensible" of the five.

And "honest John" is now going to save us from the greedy Wall Street sharks with their high paid lobbyists? And he's going to do this through deregulation, tax-cuts (for the wealthy), and self-oversight? Why does this all sound so familiar?

2 comments:

wunelle said...

Of course I still have Thomas Frank on the brain, but everything he writes about seems to be boiling to the surface more and more each day as the economy implodes.

Today's guest on NPR's Talk of the Nation, David Rothkopf, said he thinks the current woes are the beginnings of an economic revolution, a mass repudiation of everything stemming from the Regan Revolution on downward.

I'm not pleased by anyone's economic pain, but I think this repudiation must happen. The foundation is rotten and we must replace it. John McCain has been a key player in all that has brought us to our present meltdown and is the last possible person to plausibly effect this renewal.

(Rothkopf's recent editorial in WaPo expading on these ideas is here.)

Karlo said...

For a trillion bucks, you'd think we could hire a few stick-toting goons to set things straight.