McCain and the Keating Five

freetime · **Posted:** Thu Sep 04, 2008 7:42 pm

Funny how you never hear of this multi-billion dollar scandal any more, even though thousands of elderly folks lost their life savings when Lincoln Savings and Loan went bust.
John McCain isn't quite the maverick corruption fighter he portrays himself to be.
I'm sure there are many better articles available, but this Wikipedia piece gives a pretty good overview of what happened:

http://en.wikipedia.org/wiki/Keating_Five#Circumstances

Artie60438 · **Joined:** Sun Aug 03, 2008 9:48 am **Posts:** 3558

Please put "McCain" in the title so people know who you're referring to. Thanks

USMarine · **Joined:** Thu Aug 07, 2008 4:55 am **Posts:** 10483

4 Democrats and 1 Republican.

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).

After a lengthy investigation, the Senate Ethics Committee determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle had substantially and improperly interfered with the FHLBB in its investigation of Lincoln Savings. Senators John Glenn and John McCain were cleared of having acted improperly but were criticized for having exercised "poor judgment".

The lesson is not to hang around Democrats. They're criminals.

Thanks.

:smt006

freetime · **Posted:** Thu Sep 04, 2008 9:09 pm

It was a whitewash. The S & L scandal cost American taxpayers over $124 BILLION. Lincoln Savings and Loan was typical of the dirty dealings that lead to it.
McCain's credentials as an "outsider" and a "maverick" were obviously earned AFTER the S & L debacle.

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McCain and the Keating Five

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