PHOENIX -- The McCain campaign pushed back hard against the new Obama
attack over the Keating Five, arguing that the Arizona senator was
treated unfairly by the Senate ethics investigation and asserting that
John McCain had been much more open about his relationship with
disgraced thrift executive Charles Keating than Obama has been about
his connection with one-time radical William Ayers.

In a conference call with reporters this afternoon, John Dowd, the
Washington lawyer who represented McCain during the Senate
investigation, called the inquiry a "classic political smear job" by
the Democrats running the Senate at the time, saying that they only
included McCain to make sure that a Republican was among the targets.
"John had not done anything wrong," Dowd said.

Dowd's point of view was amplified by Robert Bennett, the Washington
lawyer and Democrat who served as special counsel to the Senate Ethics
Committee during the Keating Five investigation, which focused on
whether McCain and other senators exercised improper political
influence over the regulation of Keating's failed Lincoln Savings &
Loan.

In an interview, Bennett said McCain should never have been dragged
into the ethics case to begin with. He said that after his own lengthy
investigation, he came to the conclusion that the case against McCain
and former Sen. John Glenn (D-Ohio) "should have been dropped" because
the evidence suggested that once McCain understood that the Justice
Department was investigating Keating, he backed off any involvement.
Dowd noted that McCain threw Keating,once a strong supporter, out of
his office after Keating pressed him to intervene in his case.

Bennett said former Sen. Howell Hefflin (D-Ala.) insisted that the two
be included in the formal public inquiry because otherwise there would
have been a month of public hearings "with no Republicans in the
dock." The other members of the Keating Five were Democrats.

"It was clear that McCain should not have been at the table nor should
Glenn," Bennett said. "I felt it was unfair for McCain to be included
as part of the Keating Five."

http://voices.washingtonpost.com/the-trail/2008/10/06/mccain_lawyers_push_back_on_ob.html
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