This isn't the first savings and loan crisis John McCain has ever been involved in. (Albeit, not many people have had any money to save for a number of years now).
The core allegation of the Keating Five affair is that Keating had made contributions of about $1.3 million to various U.S. Senators, and he called on those Senators to help him resist regulators. The regulators backed off, to later disastrous consequences. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. taxpayer. The Senate Ethics Committee ruled that the involvement of Glenn in the scheme was minimal, and the charges against him were dropped. He was only criticized by the Committee for "poor judgment." http://en.wikipedia.org/wiki/Keating_Five --- This deregulating idiot will never learn, and I'd bet my life savings that the US will have another cycle of failures as sure as the seasons turn. Poor judgment McCain is what the US needs right now... yeah right. Next time he'll be pleading his Alzheimer's caused the poor judgments as the US is asked once again to bend over and take it. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
