John McCain will go down in the history books if he becomes President this November with his running mate Sara Palin, in that she will be the first female Vice President. Senator McCain can be found in one history book already, in Mark Grossman's Political Corruption in America, his appearance among the infamous has been made for future generations.
The Senator's ploy of avoiding the upcoming debate with Senator Obama is seen by "some Democrats warning that Mr. McCain’s intervention could derail progress being made on the rescue package. " This is a serous charge that McCain may not be putting "America first" but his own self interest and politics first. Without Senator McCain, the Keating Five would be the Keating Four after all.
McCain role in the Lincoln Savings and Loan scandal and his association with the poster boy of the Savings and Loan bail out, Charles Keating, cost the American taxpayers just shy of 25 Billion dollars. Senator McCain took $112,000 by 1987 and Keating would demand some returns on his investment in McCain political campaign when Congress started to investigate Mr. Keating. McCain denied any wrong doing until an Arizona newspaper uncovered in 1989, the Senator came clean about investing $350,000 in Keating property. Several trips were paid for Senator McCain and his wife and traveled in Keating’s plane. In McCain's defense, he was found guilty of only poor judgement and obvious conflict of interest.
The Senator's history of unethical behavior towards acting on the behalf of those who contribute to his campaign is a genuine concern. When Googled, this is what all Americans ought to find about Senator McCain's role in this very similar situation that our country finds itself in.
The core allegation of the Keating Five affair is that Keating had made contributions of about $1.3 million to various U.S. Senators, and he called on those Senators to help him resist regulators. The regulators backed off, to later disastrous consequences. 747 S n L s tanked and just under 25 Billion dollars were spent in the Saving and Loan bail out. The combination of the finance industry and real estate market tanking lead to the recession in the early 90s. Deregulation lead to this under a Republican President.
Olbermann commented on Fox News and their way of handling their canadates past role in the scandel above.
UPDATE
It seems as if that nearly two decades later, John McCain is still haunted by his role in the Keating Five scandal. The race has turned nastey and Obama has pulled out one of McCain's darkest mouments in his political career.
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