Obama and The Keating Five.

You know, you should always be careful about flinging mud, because you never know how much of it will splatter you in the process.  And it appears that Barack Obama has yet to learn this little lesson.

Right now – predictably – Tha Nazarine’s campaign is hammering McCain about the Keating Five scandal.  It’s old news.  McCain was essentially exonerated, although he was cited for using “bad judgement” because he attended meetings with regulators concerning a failed savings and loan institution.

However, Barack Obama now has something that ties HIM to the Keating Five as well.

A little late than never, I’ve read a few articles (this this one from the Politico) about the Obama camp dredging up the Keating Five scandal:

Sen. Barack Obama (D-Ill.) on Monday is launching a multimedia campaign to draw attention to the involvement of Sen. John McCain (R-Ariz.) in the “Keating Five” savings-and-loan scandal of 1989-91, which blemished McCain’s public image and set him on his course as a self-styled reformer.

Pushing back against what it calls McCain’s “guilt-by-association” tactics, the Obama campaign overnight began e-mailing millions of supporters a link to a website, KeatingEconomics.com, which will have a 13-minute documentary on the scandal beginning at noon Eastern time on Monday. The e-mails urge recipients to pass the link on to friends.

The Obama campaign, including its surrogates appearing on radio and television, will argue that the deregulatory fervor that caused massive, cascading savings-and-loan collapses in the late ‘80s was pursued by McCain throughout his career, and helped cause the current credit crisis.

Now, for those of you who don’t know about the Keating Five scandal, this goes WAY back to the 1980s when five Democrat congressmen, and one Republican (McCain) intervened with federal regulators on behalf of Charles Keating Jr.  Keating eventually went to jail for fraud after the collapse of the Lincoln Savings and Loan Association.  The members of the Keating Five were as follows:

  • John McCain (R-AZ),
  • Alan Cranston (D-CA),
  • Dennis DeConcini (D-AZ),
  • John Glenn (D-OH),
  • Don Riegle (D-MI).

McCain was considered the most blameless of the bunch, being called a “wimp”by Charles Keating because he wouldn’t directly intervene.

Donald Riegle was, perhaps, the guy with the most blood on his hands being Chairman of the Senate Banking Committee.  His involvement with Keating is eerily similar to that of the current Chairman of the Senate Banking Committee Chris Dodd and the failed lender Countrywide Financial (from whom he received sweetheart deals on loans).  I guess it’s good to be “king”, eh?

Anyways, the Keating Five is yet another Democrat financial scandal in which a Republican (perhaps not so lily-white, but nonetheless clean) is implicated due to guilt by association.  Nevermind the fact that the other four senators were all influential Democrats.  Kinda like how Democrats are pinning the Fannie Mae and Freddie Mac failures on Republicans, even though it was Republicans that tried to reverse the errors at the GSEs, while Democrats ran interference and killed measures to introduce reforms.

History, it seems, has a funny way of repeating itself.

The other guy considered relatively blameless was John Glenn.  This then brings me to my next point: Obama is directly connected to John Glenn.  Not only has Glenn been out stumping for Obama in Ohio, he’s also become one of Obama’s advisers:

Here’s this from the the Obama’s campaign’s own website:

And John Glenn himself recently endowed Barack’s campaign with his Ohio born-and-bred space expertise, by advocating for Senator Obama’s NASA platform.

It even includes a clip from the Dayton Daily News:

Former Sen. John Glenn, D-Ohio, spent part of his Sunday afternoon stumping for Sen. Barack Obama’s space agenda. On a conference call with reporters, Glenn backed Obama’s plans for NASA, saying Obama’s plans represent a reversal from funding cuts during the Bush administration.

“I’m looking forward to working very closely with Barack Obama after he’s president,” said Glenn, adding he hopes that Obama adds more than the one shuttle flight per year he’s committed to in his space plan.

Although, when I tried searching for this article at the periodical’s website, no article could be found.  Odd.

Nonetheless, John Glenn is just about giddy at the prospect of advising Barack Obama.  From the Space.com website, a reprint of a Florida Today article:

Sen. Barack Obama promised not to cut NASA funding and said Saturday at a town hall meeting he will rely on Florida Sen. Bill Nelson and revered astronaut and former Sen. John Glenn to help form his space policy.

So here you have Barack Obama using one of the former Keating Five members as an adviser in his campaign.  And he’s making an issue of this scandal with McCain?

I mean, are any of you surprised about this hypocrisy?  To be frank: I’m not.  Obama pulls this kind of crap all the time.

I’d say, “Where’s the Press on this one?”, but that would be pointless.  We already know where they are: in the tank for Obama.

The upside is that at least McCain, unlike Obama, doesn’t associate with terrorists.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: