McCain: The Most Reprehensible of the Keating Five

The story of “the Keating Five” has become a scandal rivaling Teapot Dome and Watergate

By Tom Fitzpatrick

Published on November 29, 1989 Phoenix New Times

You’re John McCain, a fallen hero who wanted to
become president so desperately that you sold yourself to Charlie
Keating, the wealthy con man who bears such an incredible resemblance
to The Joker.

He poured $112,000 into your political campaigns. He became your
friend. He threw fund raisers in your honor. He even made a sweet
shopping-center investment deal for your wife, Cindy. Your
father-in-law, Jim Hensley, was cut in on the deal, too.

Nothing was too good for you. Why not? Keating saw you as a prime investment that would pay off in the future.

So he flew you and your family around the country in his private jets.
Time after time, he put you up for serene, private vacations at his
vast, palatial spa in the Bahamas. All of this was so grand. You were
protected from what Thomas Hardy refers to as “the madding crowd.” It
was almost as though you were already staying at a presidential retreat.

Like the old song, that now seems “Long ago and far away.”

Since Keating’s collapse, you find yourself doing obscene things to
save yourself from the Senate Ethics Committee’s investigation. As a
matter of course, you engage in backbiting behavior that will turn you
into an outcast in the Senate if you do survive.

They say that if you put five lobsters into a pot and give them a
chance to escape, none will be able to do so before you light the fire.
Each time a lobster tries to climb over the top, his fellow lobsters
will pull him back down. It is the way of lobsters and threatened
United States senators.

And, of course, that’s the way it is with the Keating Five. You are all
battling to save your own hides. So you, McCain, leak to reporters
about who did Keating’s bidding in pressuring federal regulators to
change the rules for Lincoln Savings and Loan.

When the reporters fail to print your tips quickly enough–as in the
case of your tip on Michigan Senator Donald Riegle–you call them back
and remind them how important it is to get that information in the
newspapers.

The story of “the Keating Five” has become a scandal rivaling Teapot
Dome and Watergate. The outcome will be decided, not in a courtroom,
but probably on national television.

Those who survive will be the sociopaths who can tell a lie with the
most sincere, straight face. You are especially adept at this.

Last Friday night, on The John McLaughlin Show,
which features well-known Washington journalists, the subject of the
Keating Five was discussed. Panelist Jack Germond suggested that three
of the Keating Five were probably already through in politics.

So you spend your days desperately trying to make sure you will be one
of the survivors. You keep volunteering to go on radio and television
stations to protest your innocence. Last week you made ABC’s Nightline.

Not long before that you somehow managed to get James Kilpatrick, the
national columnist, to write a favorable paragraph about you. Last
Sunday morning, you made it to national television again; this time on
ABC’s This Week With David Brinkley. You smiled at the panel with your
usual studied insouciance. Sitting next to you was Senator John Glenn
of Ohio.

Brinkley, Sam Donaldson, and George Will were the interrogators.
It was a sobering scene. There you sat with Glenn, both sweating before
the cameras, waiting to answer questions: two badly tarnished American
icons.

No one forgets that Glenn was the first American astronaut to orbit the
Earth. You won’t let anyone forget that you were a prisoner of war. But
you have played that tune too long. By now your constant reminders
about your war record make you seem like a modern version of Arthur
Miller’s tragic failure Willy Loman.

Clearly, both you and Glenn sold your fame for Charles Keating’s money.

It was a Faustian bargain. It was also a bad joke on the rest of us and
a disaster for many old people who lost their life’s savings to Keating.

The money was never really Keating’s to give. But he never would have
got his hands on it if you and the rest of the Keating Five didn’t halt
the government takeover for two long years while Keating’s people
continued their looting.

And now, the tab for the Savings and Loan heist must be paid from taxpayer pockets.

On Sunday, Senators Dennis DeConcini, Alan Cranston, and Riegle refused
offers to appear on the Brinkley show. What must we make of that?

You, the closest of them to Keating and the deepest in his debt, have
chosen the path of the hard sell. You may even make it out of the pot,
but to many, your protestations of innocence taste like gall.

You are determined to bluff your way. You will stick to your story that
you were acting to help a constituent and intended to do nothing
improper. The very fact you attended the meeting makes you guilty, just
as every man who entered the Brinks vault went to prison.

You insist that an accounting firm Keating hired told you Lincoln
was sound. Alan Greenspan, who Keating also hired, wrote a report
saying it was sound. Why shouldn’t you believe the people Keating
hired? You were, after all, fellow employees.

Perhaps you might silence your own conscience about all this someday.

Just keep telling everyone that it was your wife’s money invested in
that shopping center with Keating and that you knew nothing about it.

Keep saying that cynical newspaper people don’t understand that every
move you make has always been for the enrichment of Arizona . . . the
education of our Native Americans on the reservations . . . for the
love of the elderly in Sun City and Green Valley.

Keep telling them that it wasn’t that you were bought off but that
Charlie Keating got special help only because he was one of the biggest
employers in the state.

Just keep sitting there and staring into the camera and denying that
Keating bought you for money and jet plane trips and vacations.

So what if he gave you $112,000? Just keep smiling at the cameras and saying you did nothing wrong.

Maybe the voters will understand you took those tiring trips to
Charlie’s place in the Bahamas in their behalf. Certainly, they can
understand you wanted to take your family along. A senator deserves to
travel on private jets, removed from the awful crush of public
transportation.

You sought out a master criminal like Keating and became his friend.
Now you’ve discarded him. It shouldn’t be surprising that you are now
in the process of selling out your senatorial accomplices.

You’re John McCain, clearly the guiltiest, most culpable and
reprehensible of the Keating Five. But you know the power of television
and you realize this is the only way you can possibly save your
political career.

 

John McCain said Thursday that Barack Obama’s poll numbers are rising as the economy seems to sink “because life isn’t fair.”

“He certainly did nothing for the first few days,” McCain told Fox News Thursday. “I suspended my campaign, took our ads down, came back to Washington, met with the House folks and got on the phone, and also had face-to-face meetings.”

New CNN/Time/Opinion Research Corporation polls of several key battleground states released Wednesday found Obama has made gains across the board – either taking statistically significant leads, or erasing McCain advantages – over the past few weeks. Since the financial crisis began in mid-September, Obama has taken and held a lead over McCain in the national CNN poll of polls.

“I’m the underdog[ed. Huh?]. I love being the underdog…. We’re going to be up late on election night,” he said.

According to McCain, running mate Sarah Palin is also facing an unfair disadvantage as she heads into the debate tonight. “Frankly, I wish they had picked a moderator that isn’t writing a book favorable to Barack Obama. Let’s face it,” he said. “But I have to have to have confidence that Gwen Ifill will handle this as the professional journalist that she is… Life isn’t fair, as I mentioned earlier in the program.”

PBS journalist Gwen Ifill, the moderator of Thursday’s vice presidential debate, is writing a book about a new generation of black leaders that happens to include, of all things, Barack Obama. Perhaps she should stick to the revisionist type of history that Republicans so favor?

 

After last week’s debacle, where Obama call John McCain to try to come out with a joint statement, and McCain blew him off long enough to try and take the idea as his own thunder, we should have seen that the MCCain camp is fresh out of ideas that don’t involve negative politicking and as such shouldn’t have been shocked to hear McCain parrot Obama’s suggestion to increase the amount guaranteed by the FDIC from $100,000 to $250,000. For those who didn’t catch the statement by Obama this morning, Barack proposed raising the cap as a way to protect more of the life savings many Americans currently have in US banks. This is the statement that was posted on his site this AM at 7:51 EST.

Yesterday, within the course of a few hours, the failure to pass the economic rescue plan in Washington led to the single largest decline of the stock market in two decades.

While I, like others, am outraged that the reign of irresponsibility on Wall Street and in Washington has created the current crisis, I also know that continued inaction in the face of the gathering storm in our financial markets would be catastrophic for our economy and our families.

At this moment, when the jobs, retirement savings, and economic security of all Americans hang in the balance, it is imperative that all of us – Democrats and Republicans alike – come together to meet this crisis.

The bill rejected yesterday was a marked improvement over the original blank check proposed by the Bush Administration. It included restraints on CEO pay, protections for homeowners, strict oversight as to how the money is spent, and an assurance that taxpayers will recover their money once the economy recovers. Given the progress we have made, I believe we are unlikely to succeed if we start from scratch or reopen negotiations about the core elements of the agreement. But in order to pass this plan, we must do more.

One step we could take to potentially broaden support for the legislation and shore up our economy would be to expand federal deposit insurance for families and small businesses across America who have invested their money in our banks.

The majority of American families should rest assured that the deposits they have in our banks are safe. Thanks to measures put in place during the Great Depression, deposits of up to $100,000 are guaranteed by the federal government.

While that guarantee is more than adequate for most families, it is insufficient for many small businesses that maintain bank accounts to meet their payroll, buy their supplies, and invest in expanding and creating jobs. The current insurance limit of $100,000 was set 28 years ago and has not been adjusted for inflation.

That is why today, I am proposing that we also raise the FDIC limit to $250,000 as part of the economic rescue package – a step that would boost small businesses, make our banking system more secure, and help restore public confidence in our financial system.

I will be talking to leaders and members of Congress later today to offer this idea and urge them to act without delay to pass a rescue plan.

Shortly thereafter, at 8:20 AM EST, McCain appeared on CNN with that exact same suggestion. Coincidence, I doubt it. When in trouble, co-opt you opponents ideas and pretend they’re yours..

 

John McCain stunningly came out last week stating that he was halting his campaign to go back to Washington to help resolve our current financial crisis. He was in fact so dedicated to this cause that he suspended his campaign and initially said he would be too busy saving the country to join in the Presidential Debate last Friday. He, of course, managed to sneak away from the crisis long enough to join the debate, and then somehow must have solved the Problem because he was right back to campaigning Monday, criticizing Obama for his supposed inaction. Obama for his part, kept out of the kitchen, apparently having been taught by someone what too many cooks can do to a dinner, made phone calls, and worked his side of the aisle. And come Monday, when the measure came up for a vote, Democrats came through with their votes, while the Republicans chose any reason they could find to justify their voting against the measure. What does this mean? it means that Even though McCain was apparently boots-down in D.C., herding this bill to it’s adoption, his party members decided they preferred a different route, they preferred to make a point, stand their principled ground, defy Nancy Pelosi, irregardless of the effect of their actions on the economy, on Wall Street, and more importantly, on Main Street. If this is the type of statesmanship that McCain will bring to the Oval Office, grandstanding, theatrics, and rash actions, then maybe more people should think about what they want for themselves, for their children, for their future, and for their savings and investments. Maybe a serious and grave crisis requires introspection, requires measured thought, requires the counsel of expterts, and not the cessation (short as it was) of a campaign. Especially when that gambit not only didn’t work, but failed miserably. And now that the gambit did not work, McCain is managing to step back from his savior role, and pretending that he never had the intention of going to DC and fixing the world as he so bravely did just a few days ago.

 

Wow. Asking candidates to clarify their position is now “Gotcha Journalism” being asked what your position by one of those people who are sopposed to make up their mind about voting for you is not playing fair. Palin needs to be so protected that McCain has to answer her questions for her. When Palin very clearly says something that completely contradicts McCain’s positions, and does so with apparent thought and specific detail, it’s the fault of the media for hearing her correctly. I’m waiting for criminals to start using the McCain-Palin defence in court. It’s not fair to ask me what I did when it clearly not what I said I intended to do.

 

From Wikipedia.

The Posse Comitatus Act is a United States federal law (18 U.S.C. § 1385) passed on June 16, 1878 after the end of Reconstruction. The Act prohibits most members of the federal uniformed services (the Army, Air Force, and State National Guard forces when such are called into federal service) from exercising nominally state law enforcement police or peace officer powers that maintain “law and order” on non-federal property (states, their counties and municipal divisions) in the former Confederate states.

The statute generally prohibits federal military personnel and units of the United States National GuardConstitution or Congress.

under federal authority from acting in a law enforcement capacity within the United States, except where expressly authorized by the

From Army Times:

Beginning Oct. 1 for 12 months, the 1st BCT will be under the
day-to-day control of U.S. Army North, the Army service component of
Northern Command, as an on-call federal response force for natural or
manmade emergencies and disasters, including terrorist attacks.

They may be called upon to help with civil unrest and crowd control
or to deal with potentially horrific scenarios such as massive
poisoning and chaos in response to a chemical, biological,
radiological, nuclear or high-yield explosive, or CBRNE, attack.

Training
for homeland scenarios has already begun at Fort Stewart and includes
specialty tasks such as knowing how to use the “jaws of life” to
extract a person from a mangled vehicle; extra medical training for a
CBRNE incident; and working with U.S. Forestry Service experts on how
to go in with chainsaws and cut and clear trees to clear a road or area.

The
1st BCT’s soldiers also will learn how to use “the first ever nonlethal
package that the Army has fielded,” 1st BCT commander Col. Roger
Cloutier said, referring to crowd and traffic control equipment and
nonlethal weapons designed to subdue unruly or dangerous individuals
without killing them.

“It’s a new modular package of nonlethal
capabilities that they’re fielding. They’ve been using pieces of it in
Iraq, but this is the first time that these modules were consolidated
and this package fielded, and because of this mission we’re undertaking
we were the first to get it.”

The package includes equipment to
stand up a hasty road block; spike strips for slowing, stopping or
controlling traffic; shields and batons; and, beanbag bullets.

Anyone else a touch concerned??

 

Lawmakers have reached agreement on a bipartisan counterproposal to the
Bush administration’s $700 billion financial bailout plan.

“We’ve reached a fundamental agreement on a set of principles, one, for taxpayers, which is tremendously important,” Sen. Christopher Dodd, D-Conn

Americans
should “legitimately feel better about the overall approach,” said Rep.
Barney Frank, D-Mass., who heads the House Financial Services Committee.

Taxpayers
will be protected under the Congressional version of the bailout, said
Rep. Spencer Bachus, R-Ala., the top Republican on the House Financial
Services Committee

Geez. No words from McCain of how he wrote it singlehandedly on the back of a paper napkin while furiously running down main street in his dash back to Washington? I don’t even see him in the photo?

 

From CNN:

Less than an hour after Barack Obama’s team told reporters that John McCain’s Wednesday announcement that he would be suspending his campaign came after the Democratic nominee suggested a joint statement from both candidates on the financial crisis, the McCain camp issued its own account of talks between the two men.

"Senator Obama phoned Senator McCain at 8:30 am this morning but did not reach him," the campaign said in a memo sent to reporters. "The topic of Senator Obama’s call to Senator McCain was never discussed.

"Senator McCain was meeting with economic advisers and talking to leaders in Congress throughout the day prior to calling Senator Obama. At 2:30 pm, Senator McCain phoned Senator Obama and expressed deep concern that the plan on the table would not pass as it currently stands. He asked Senator Obama to join him in returning to Washington to lead a bipartisan effort to solve this problem."

Minutes after McCain’s Wednesday statement, Obama’s campaign said that the Democratic nominee had called McCain earlier that morning to ask him if he would be willing to issue a joint statement on the economy and "urg[e] Congress and the White House to act in a bipartisan manner to pass such a proposal." They also said that McCain returned the call at 2:30 Wednesday afternoon and agreed to join him in issuing such a statement, and that the two campaigns are currently "working together on the details." McCain’s announcement came shortly before 3 p.m. ET.

 

So..McCain got a call from Obama in the A.M., but even though it wasn’t the magic 3AM call, McCain still wasn’t around to acknowledge it. Supposedly. I’m more inclined to believe that they did talk, but McCain just got good and GOP-reedy for credit for the idea. Adding on that he wants to avoid the debates at any cost, and this clears the way to excuse  Sarah from having to debate Joe as well. After all, after Asif Ali Zardari of Pakistan felt her up, she probably wants to take a calgon bath anyways.

 

Now, on to the big news. Here are my suggested modifications to the economic bailout bill.

  1. Any company that accepts the bailout has to cap their executive salaries at 2.5 Mil (or 10x the President’s salary) for the duration before the amount is repaid.
  2. All executive termination compensation agreements are changed to no greater than 6 months (at the 2.5 mil) in salary, 6 months medical,  and a no-compete in the same sector for 3 months.
  3. Any company that allows their execs to bail before accepting the assistance, would have to divert the amount of the golden parachute package off the top of the bailout as a 100% repayable portion at %10 interest to be paid before any profit can be realized to shareholders.
  4. All packages include the govt becoming a percentage partner commensurate with the percentage of the aid in proportion to the company’s net worth on the day of accepting the loan until such a time as the company repays the loan at a  interest rate twice the prime rate on the day of acceptance.
  5. Shareholders cannot be paid at a percentage of net profits greater than the percentage amount of the aid initially provided as calculated in the previous point.

Give me those five points and I think I *might* go along with it.

 

 

from http://mudflats.wordpress.com/2008/09/15/palins-revelations-repent-the-end-is-near/

Rev. Howard Bess:

Palin now denies that she wanted to censor library books, but Bess insists that his book was on a “hit list” targeted by Palin. “I’m as certain of that as I am that I’m sitting here. This is a small town, we all know each other. People in city government have confirmed to me what Sarah was trying to do.”

[He] says that Palin also helped push the evangelical drive to take over the Mat-Su Borough school board. “She wanted to get people who believed in creationism on the board,” said Munger, a music composer and teacher. “I bumped into her once after my band played at a graduation ceremony at the Assembly of God. I said, ‘Sarah, how can you believe in creationism — your father’s a science teacher.’ And she said, ‘We don’t have to agree on everything.’

“I pushed her on the earth’s creation, whether it was really less than 7,000 years old and whether dinosaurs and humans walked the earth at the same time. And she said yes, she’d seen images somewhere of dinosaur fossils with human footprints in them.”

Munger also asked Palin if she truly believed in the End of Days, the doomsday scenario when the Messiah will return. “She looked in my eyes and said, ‘Yes, I think I will see Jesus come back to earth in my lifetime.’”

Sarah Palin ABC Interview With Charlie Gibson Part 1

GIBSON: But this is not just reforming a government.
This is also running a government on the huge international stage in a
very dangerous world. When I asked John McCain about your national
security credentials, he cited the fact that you have commanded the
Alaskan National Guard and that Alaska is close to Russia. Are those
sufficient credentials?

PALIN: But it is about reform of government and it’s about putting
government back on the side of the people, and that has much to do with
foreign policy and national security issues Let me speak specifically
about a credential that I do bring to this table, Charlie, and that’s
with the energy independence that I’ve been working on for these years
as the governor of this state that produces nearly 20 percent of the
U.S. domestic supply of energy, that I worked on as chairman of the
Alaska Oil and Gas Conservation Commission, overseeing the oil and gas
development in our state to produce more for the United States.

GIBSON: I know. I’m just saying that national security is a whole lot more than energy.

PALIN: It is, but I want you to not lose sight of the
fact that energy is a foundation of national security. It’s that
important. It’s that significant.

GIBSON: Do you agree with the Bush doctrine?

PALIN:  In what respect, Charlie? (no clue what the Bush Doctrine is)

GIBSON: The Bush — well, what do you — what do you interpret it to be?

PALIN: His world view. (Hopeful)

GIBSON: No, the Bush doctrine, enunciated September 2002, before the Iraq war.

 

The debate over government spending is heating up on the campaign
trail and raising greater focus on which presidential candidate will
really change the way Washington does business.

Sen. John McCain has criticized politicians who request millions in so-called earmarks.

But will that sway the American electorate?

Sen. John McCain has been a crusader against so-called earmarks and
says his opponent, Sen. Barack Obama, has asked for almost $1 billion
in pork-barrel projects for his state in just less than four years in
the Senate.

“Nearly a million dollars for every day that he’s
been in office! And that’s change? My friends, don’t be fooled,” McCain
said September 9.

Earmarks are requests for money by a
specific legislator, usually for her or his constituency, added onto
often-unrelated government spending bills.

According to the
nonpartisan watchdog group Taxpayers for Common Sense, Obama has asked
for nearly $1 billion in earmarks during his Senate term. But the group
gives him credit for disclosing his requests, which most members of
Congress don’t do.

Obama
has not made any requests for the next fiscal year, and even when he
was asking for earmarks, he was far from the worst offender, the group
says.

“Just to put it into perspective, he got $98 million
worth of earmarks in fiscal year 2008. Sen. [Hillary] Clinton got more
than $300 million in earmarks, and Sen. [Thad] Cochran, Republican of
the [Senate] Appropriations Committee, got $800 million in earmarks,”
Steve Ellis of Taxpayers for Common Sense said.

Obama’s running mate, Sen. Joe Biden of Delaware, doesn’t come close to
that. But Biden also has never disclosed what he’s asked for, until
this year. Biden’s office said he’s requesting about $300 million.

The Obama campaign points out that although McCain hasn’t asked for earmarks, his running mate hardly has room to talk.

“When you’ve been taking all these earmarks when it is convenient and
then suddenly you’re the champion anti-earmark person, that is not
change,” Obama said Monday.

According to state records and Taxpayers for Common Sense, Alaska Gov. Sarah Palin has asked for about $450 million in federal money since she became governor. But she also gets some credit.

“As governor, she has, by all records, started to reduce the number of
earmark requests … so it’s a downward trajectory by our analysis but
still significant earmark requests,” Ellis said.

Palin also got into the earmarking
game early, before she became governor. According to state records and
Taxpayers for Common Sense, she helped get about $27 million, some of
which went to the small Alaskan town of Wasilla, during her second term
as mayor there, from 1998 to 2002.

The
watchdog group said one of the reasons was that she hired a lobbying
firm run by a former staffer for Sen. Ted Stevens, R-Alaska, one of
Washington’s most legendary earmarkers.

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