I just saw on the news that Barack Obama refused to comment on his campaign’s attacks on John McCain and the decades-old Keating 5 scandal. (Notable is that John McCain was exonerated of wrong doing in that case.) I was taken aback, because this morning I received the following email from none other than Barack Obama’s campaign manager.
Over the weekend, John McCain’s top adviser announced their plan to stop engaging in a debate over the economy and “turn the page” to more direct, personal attacks on Barack Obama.
In the middle of the worst economic crisis since the Great Depression, they want to change the subject from the central question of this election. Perhaps because the policies McCain supported these past eight years and wants to continue are pretty hard to defend.
But it’s not just McCain’s role in the current crisis that they’re avoiding. The backward economic philosophy and culture of corruption that helped create the current crisis are looking more and more like the other major financial crisis of our time.
During the savings and loan crisis of the late ’80s and early ’90s, McCain’s political favors and aggressive support for deregulation put him at the center of the fall of Lincoln Savings and Loan, one of the largest in the country. More than 23,000 investors lost their savings. Overall, the savings and loan crisis required the federal government to bail out the savings of hundreds of thousands of families and ultimately cost American taxpayers $124 billion.
Sound familiar?
In that crisis, John McCain and his political patron, Charles Keating, played central roles that ultimately landed Keating in jail for fraud and McCain in front of the Senate Ethics Committee. The McCain campaign has tried to avoid talking about the scandal, but with so many parallels to the current crisis, McCain’s Keating history is relevant and voters deserve to know the facts — and see for themselves the pattern of poor judgment by John McCain.
So at noon Eastern on Monday, October 6th, we’re releasing a 13-minute documentary about the scandal called “Keating Economics: John McCain and the Making of a Financial Crisis” — it will be available at KeatingEconomics.com, along with background information that every voter should know.
Watch a preview right now and share it with your friends.
The point of the film and the web site is that John McCain still hasn’t learned his lesson.
And this time, McCain’s bankrupt economic philosophy has put our economy at the brink of collapse and put millions of Americans at risk of losing their homes.
Watch the video to see why John McCain’s failed philosophy and poor judgment is a recipe for deepening the crisis:
http://my.barackobama.com/keatingvideo
It’s no wonder John McCain would rather spend the last month of this election smearing Barack’s character instead of talking about the top priority issue for voters.
But if we work together, we can make sure the focus stays on the economy — and how to fix it.
Please forward this email to everyone you know.
This is just more of the same from Obama. He attacks John McCain, calls him Bush while decrying any questions about his own character and judgment. He tells outright lies and nobody calls him on it. This is getting so old.
Good.
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McCain’s attack has two objectives a) to expose Obama’s radical links and b) to show that Obama was lying on this issue. I trust McCain’s judgment and his research team. They did a good job.
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Let’s hope they keep it up and hammer it home!
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I have some difficulty in understanding that Obama’s team – and Obama and Biden – did not anticipate the Glenn problem in counterattacking McCain with the Keating Five.
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BA-I caught that too, just too busy to write about everything. Didn’t Glenn go out and speak for Obie today, the very day they launched the attack. Duh!
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Yes, and to save you the trouble of writing about this, here is some interesting information:
In February 1991, after what Glenn has described as the low point of his life, the Ethics Committee issued its final report, which stated Glenn had used poor judgment in the affair, but exonerated him of any wrong doing.
The “Keating Five” affair, along with the lingering debt from his presidential campaign, became issues in 1992 when Glenn sought reelection to his fourth term in the senate. His Republican opponent, Ohio lieutenant governor Mike DeWine, used these issues in an attempt to smear Glenn’s reputation in the eyes of voters. After what the media described as the dirtiest campaign in the country that year, Glenn beat DeWine at the polls and became the first person from Ohio ever to be elected to four terms in the U.S. Senate.
source: John Glenn Archives
http://library.osu.edu/sites/archives/glenn/politicalcareer.php
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Thanks!
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