The Keating Five Returns to Haunt McCain

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If John McCain wants to turn to negative campaigning instead of the issues, Barack Obama has one thing to say to him: "Bring it on."

While McCain and Palin work to incite crowds to near-riot, with speeches that talk of alliances that don't exist, they stray from the issues --- and McCain's own past problems, surely topical, with the Keating Five.

As Wikipedia says:

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 intervening in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of a regulatory investigation by the Federal Home Loan Bank Board (FHLBB).

The Savings and Loan Crisis ... does that seem eerily similar to today's financial headache?

You can watch a film attached to this story, with more information on the crisis and the role of the Keating Five.

Video for this story

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