When asked if McCain’s entanglement with the Keating Five will be “Fair Game” this fall, Obama told reporters that the issue was within limits for discussion.
“Congressmen DeFazio delivered a speech that wasn’t my speech,” he said. “I don’t think there is any doubt John McCain‘s public record about issues that he has apologized for or written about are not germane to the presidency. I was just asked previously about a whole host of associations that are a lot more flimsy than John McCain’s relationship to Keating Five and what I have said is that I can’t quarrel with the American people wanting to know more about that and me having to answer questions about it.”
DeFazio, an Oregon superdelegate who has endorsed Obama, told a crowd Friday in Albany, Ore.: “John McCain has already told us he doesn’t know much about economics. He says we need less regulation. Hello? Wall Street, mortgage meltdown, Bear Stearns, taxpayer bailout, Enron. But I guess maybe for a guy who was up to his neck in the Keating Five, and savings and loan scandal, less regulation is better for his friends. No, that is not good for the American people.”
Excerpt from Ben Smith Politico
John McCain is the last remaining Senator that was a member of the “Keating Five” which was connected to the Savings and Loan crises of the late 1980’s. For more information on the “Keating Five”, click here.
John McCain doesn’t want to discuss how he discouraged Congressional investigation into Charles H. Keating Jr.’s involvement in the collapse of the Lincoln Savings and Loan Association of Irvine, CA. Perhaps he doesn’t want the voters to be reminded about this:
McCain received $112,000 by 1987 from Keating and Keating’s relatives and employees to McCain’s Senate campaign, more than any of the other Senators.
With more investigation, I’m sure there will be more skeletons falling out of McCain’s closet. I’ve already begun searching for the skeleton key.
UPDATE: Don’t let McCain tell you that Keating was just a constituent. John McCain and Keating go back to 1981 and they were friends. Slate has the story and the details.