Read time: 1 minute

Welcome To Keating Economics: John McCain And A Financial Crisis: 9 AM PST

This is the story that the media refuses to mention. With the economic meltdown that we are witnessing, shouldn't the media be reminding the America

This is the story that the media refuses to mention. With the economic meltdown that we are witnessing, shouldn't the media be reminding the American people that John McCain was involved in the Keating 5 scandal?

The Keating Five were five United States Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators, Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly aiding Charles H. Keating, Jr., chairman of the failed Lincoln Savings and Loan Association, which was the target of an investigation by the Federal Home Loan Bank Board (FHLBB).

Well, Obama is doing just that and I think it's about time. Check out this new site called: Keating Economics. There will be a 13 minute documentary available at 9AM PST/NOON EST today.

Make sure you watch and learn. This is a real scandal with real news that had an huge impact on our whole financial system. Not some silly Sean Hannity/FOX News phony talking points nonsense.

I've posted on the new Keating 5 movie called "Third Term" here as well.

Here's more:

Sen. Barack Obama (D-Ill.) on Monday will launch a multimedia campaign to draw attention to the involvement of Sen. John McCain (R-Ariz.) in the “Keating Five” savings-and-loan scandal of 1989-91, which blemished McCain’s public image and set him on his course as a self-styled reformer.

The Obama campaign, including its surrogates appearing on radio and television, will argue that the deregulatory fervor that caused massive, cascading savings-and-loan collapses in the late ‘80s was pursued by McCain throughout his career, and helped cause the current credit crisis.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $20 for 2020? Please consider a one time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Comments

NOTE: We will be changing to a new commenting platform in the next couple of weeks. We will supply more details as we get closer to the change. We understand some users are having problems with comments loading and this will hopefully remedy that problem

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.