20 Years Later, McCain At Center of Another Financial Scandal

[maddezmom]

20 Years Later, McCain At Center of Another Financial Scandal
Posted by AdminIn a week that will surely be looked back at by historians in the future as the blueprint of how not to run a presidential campaign, Americans have watched John McCain self destruct before their very eyes.

It’s better for Americans to find out now that John McCainis a chronic liar, who not only associates with criminals but actually aides in their getaway, who hires lobbyists who take $2.5 million from a sinking mortgage giant, who wants to appoint a crooked former politician-turned-lobbyist to save us all from the mess he made. It’s better for Americans to learn that lesson now than to wait 41 days and make the mother of all mistakes.

After all of the goofs and blunders. After all of the lies, half truths, dishonest statements, and amazingly - 8 years of mismanagement from his party on a colossal scale, John McCain was somehow still in the drivers seat heading into the final laps of a presidential race that should never have been this close to begin with.

John McCain decided to suspend his campaign temporarily in a last ditch effort to paint Obama as an immature candidate incapable of recognizing a crisis and responding accordingly. For McCain that means skipping the first presidential debate, inconveniently scheduled to begin just over 48 hours after the latest polls show McCain trailing Obama by almost double digits for the first time. The same polls show more Americans believe Obama is better suited to solve our economic problems than McCain by a wide margin - 24%.

McCain’s decision to milk this for all it’s worth also came shortly after Newsweek, Time, and the New York Times revealed McCain’s campaign manager Rick Davis has received almost $2.5 million in payments from failed mortgage giant Freddie Mac since 2000 - ending only last month. McCain’s response was the Davis didn’t do anything to earn that money, which raises even bigger questions of why a government owned agency was paying millions of dollars to a McCain employee for nothing.

McCain’s decision to skip the debate and put on the grown up glasses also comes a week after the candidate put his foot in his mouth several times. After Freddie Mac, Fannie Mae, Merrill Lynch, AIG, and Lehman Bros. all needed to be bailed out by the feds or just went belly up, McCain kept repeating his mantra, “the fundamentals of the economy are strong.” Less than 24 hours later McCain flip flopped and claimed he had been predicting the subprime mortgage crisis since 2006. ABC News took all of 5 seconds to prove that was a lie. Less than 48 hours after that, McCain said he favored the Bush Administration’s proposed $700 billion bail out of Wall Street, a 3 page proposal other Republicans called “highly offensive”, and “3 pages of ‘give us the money and we’ll see you later’ nonsense.”

more:http://mccainkeatingfive.com/?p=29

[woodsprite]

1. I busted my friend on this tonight. She was saying how she

wasn't voting for McCain because she doesn't think that he is separated enough from the powers that be that got us into this mess, but she has always respected him and appreciated how truthful he has been all his career.

Then she goes on to say about how she called all our Delaware Congressmen today and let them know what she thought of the bailout. She also said "Don't you remember the last bailout - what was it? 20 years or so ago?" I said "Yes. Remember the Keating Five? McCain was one of them." She just got really quiet after that.

[electron_blue]

2. Yes, another monstrous mortgage failure involving fraud and taxpayer bailout

Time to give everyone a history lesson, thanks!

[FailureToCommunicate]

3. McCain is hoping the Press do not ask about 20 years ago...

The Keating Five scandal in 1989 and resulting Government bailout of hundreds of failed banks cost around $ 293 BILLION (Billion!) dollars with more than half that being paid directly by the US taxpayer.

That huge bailout led directly to the recession of 1990-91, and dwarfed other large bailouts like Chrysler in the eighties and the Airline industries after September 11.

Now I suppose John McCain will say -if he is EVER forced to respond about the Savings and Loan bailout: "Gee, my friends, that was small potatoes compared to THIS prize winning pumpkin..."

So far the media has given him a pass on -oh, what is it called... oh yeah, HISTORY!

[Kind of Blue]

4. I visited my parents this weekend and, of course, talk immediately

becomes about politics. Last week, it was mostly all about McCain's campaign lies. My dad, 79years old and a die-hard Dem, was really dismayed at what a poor example McCain is in his advanced age to rely on easy to disprove blatant lies. I'm saving this article for my father and I thank you for posting this article.