Tuesday, October 07, 2008
McCain and Charles Keating
In the 1980's there was a scandal involving a man named Charles Keating and the company he looted from: Lincoln Savings & Loan. Much like the current situation this country (and now apparently the world) is dealing with, this mass robbery caused the markets to plummet and was the natural result of greed and deregulation. And if the almost prophetic parallels weren't enough, guess who at the center of it pushing for said deregulation?
A: John McCain. While the particulars are complex and difficult for laymen (like moi) to comprehend or explain, this video does so nicely in about thirteen minutes. So before you caste your vote for who you think should hold the reigns of the country, it might behoove you to bone up on a little precursor to this current economic crisis and look into the Keating Five.