the new website, keating economics: john mccain and the making of a financial crisis, is the obama campaign's swift answer to mccain's eagerness to regurgitate william ayres and tony rezko. this is a move that had been predicted by columnists, pundits, and fellow politicians long ago: if mccain goes after an ayers/rezko/obama connection, obama has every right to bring up keating. the difference being that the ayres/rezko allegations are extremely tenuous. keating five is fact.the scandal involved a 1989 senate ethics investigation into corruption charges against five united states senators, including mccain, and turned into a major political scandal that was part of the larger savings and loan crisis of the late 80s, early 90s.
the website went live late sunday night with a 30-second "trailer" for a 13-minute documentary, covering mccain's involvement in the keating scandal and the parallels with the current economic crisis, that will begin running monday at noon eastern. the website's message, according to the obama campaign, is that "the failed philosophy and culture of corruption that created the savings and loan crisis are alive in the current crisis, and in john mccain's plans for our economic future."
What was the largest single bail out of the financial sector prior to the $700B plan approved last week?
ReplyDeleteThat's right, the S&L bail out of the late 80's, early 90's.
Pricetag: $124.6B according to the GAO.
Now McCain didn't have anything to do with either collapse or bail out.
Oh wait.....