What are the pros and cons of pushing the Keating 5 re: McCain ?

[steve2470]

To me, the only con is that it happened a long time ago. Are there any other cons to it besides that ? Or is it not necessary given the current situation ? Thanks for your time, once again.

Steve

[FrenchieCat]

1. PRO - John McCain had extra close personal relationships with the unsavory thieves....

Thrifts Keating went to Jail.

Should not be called the "Keating 5" in this resurrection. Should be called "Savings & Loan Scandal", last biggest bailout in the history books before this one.

Savings & Loan Scandal is certainly rated as the largest bail out by the American taxpayer until the current disaster and the biggest financial disaster to hit America since the great depression.

Can we agree that the current situation has a lot of Deja Vu present?

I am noticing more talk comparing the current situation to the Savings & Loan Scandal.

The U.S. Savings and Loan Crisis
Bailout date: August 1989
Amount: Estimates vary widely, but $200 billion (in 2008 dollars) is a reasonable figure.

What happened: The “S&L” debacle of the late ’80s and early ’90s was long in the making and long in the unwinding. U.S. taxpayers were first put on the hook when then President George H.W. Bush (right) signed the Financial Institutions Reform, Recovery and Enforcement Act of 1989, which radically reformed the savings and loan industry and federal regulations. When the dust finally settled in 1995, more than 1,000 small lending institutions known as “savings and loans,” also called “thrifts,” had failed. Half of the federally insured thrift institutions in the United States had gone under in less than a decade, and the associated slowdown in new home construction and the financial fallout contributed to the 1990-1991 recession. The underlying causes of the S&L crisis are complex and disputed, but most scholars generally agree that high, volatile interest rates, reckless lending practices, rapid deregulation, and lax oversight paved the way for the greatest banking disaster since the Great Depression.
http://www.foreignpolicy.com/story/cms.php?story_id=4470

[Uben]

2. The other 4 were dems

Is'nt exactly the kind of news you want to be spreading

[pocoloco]

3. Oh Noes!!! That's very republican of you!!!

Got to protect the dumb fucks just because they were dems??

[ray of light]

5. No. Gotta win the election by not handing out talking points to Rove.

[Bucky]

7. John Glenn and John McCain were cleared of wrongdoing, guilty of "poor judgment"

the only real crooks in the scandal were two Dems, DeConcini and Cranston. Don Riegle got a bum wrap. They only roped in Glenn because they wanted to include at least one Republican in the investigation and McCain hadn't done anything Glenn hadn't, so they got token snarls from the ethics committee.

It was mostly a Democratic scandal.

[ray of light]

4. I don't discuss this on public blogs where Rove and his minions look for us to HELP them.

Now way. No McCain.

McCain has spent the last 10 years finding other ways to sleep with lobbyists. HE's also become a different, some may say completely irrational person, since 2000 even!

He learned from Keating 5. Don't get caught.

[Bucky]

6. Originally they were just going after two or three Dems. To make it bipartisan they...

I remember reading about this 15-20 years ago when it all broke out. To make it bipartisan they lowered the criteria for investigation so that they could nab McCain, too. By lowering the bar for who they would investigate to include McCain, they also were forced to investigate another Democrat or two, including former pro-reform Senator Don Riegle of Michigan.

The other downsides to bringing up Keating 5 are (1) there's not a lot of actual corruption there and (2) it was over 15 years ago.