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Obama Hits Back at McCain – Keating Economics

October 6, 2008

The presidential campaign of Senator Obama is hitting back hard at the now 100 percent negative advertising and stump speeches by the McCain camp with a stunning new ad. A look back at Senator John McCain’s intimate relationship with Charles Keating, the infamous face of the Savings and Loan scandal. The ad reminds us of the Senate investigation of John McCain for improper pressure he brought upon investigators to spare Charles Keating and Lincoln Savings and Loan from their rightful wrath.

McCain was one of the ‘Keating Five’, a group of five Senators who pressured who they could, and at one point ganged up together in one fateful meeting with regulators in which they brought their full weight. They didn’t get away with it, though one of them wishes you would forget it by now. Charles Keating, when asked if his payouts to these Senators bought him influence said “I want to say in the most forceful way I can, I certainly hope so.”

Read more at KeatingEconomics.com

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