October 6th, 2008
Keating Economics: John McCain and a Financial Crisis
When the savings and loan industry collapsed, Keating’s failed company put taxpayers on the hook for $3.4 billion and more than 20,000 Americans lost their savings. John McCain was reprimanded by the bipartisan Senate Ethics Committee, but the ultimate cost of the crisis to American taxpayers reached more than $120 billion.
The Keating scandal is eerily similar to today’s credit crisis, where a lack of regulation and cozy relationships between the financial industry and Congress has allowed banks to make risky loans and profit by bending the rules. And in both cases, John McCain’s judgment and values have placed him on the wrong side of history.
Source: Keating Economics
Tags: John McCain
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October 6th, 2008 at 6:35 pm
Nice to see this on here….Cool the way the blog is evolving
October 6th, 2008 at 6:50 pm
McCain Palin/ Palin tried to use smear tactics first……now it’s starting to backfire big time!
Who the hell is Palin to talk about Rev, Wright when the chick is on video getting exorsized! Politics as usual”””
October 6th, 2008 at 7:13 pm
ok but obama is a socialist
truth is that both candidates suck
but obama is the lesser of 2 evils
lets just hope obama doesnt turn us all into marxists
October 6th, 2008 at 8:57 pm
Greed wants deregulation. Deregulation leads to abuse. Abuse of the financial markets leads to corporate criminal activity. Corporate criminal activity leads to a recession. Recession leads to 159,000 jobs lost in the month of September – The worst in five years. Jobs lost leads to homes being foreclosed. Foreclosed homes leads to the stock market plummeting. Need I say more… People don’t be fooled by these Republican Spinmeisters. We have no choice now, WE MUST VOTE FOR OBAMA.
SMARTENUP PEOPLE
As for mateo – obama is a socialist. Here are 2 quotes from Socialist leaders.
Greg Pason, National Secretary of the Socialist Party USA: “Barack Obama’s programs are not socialist.”
F.N. Brill, National Secretary of the World Socialist Party (US): “Obama is as much a socialist as the Pope is an atheist.”
mateo these are direct quotes from people that know more about the socialist movement than you know. Let me rephrase that – Than Rush Limbaugh or Glenn Beck told you about.
Smartenup Mateo-
If you want to have a discussion about politics, I will be happy to school you anytime of the week.
OBAMA ‘08
October 6th, 2008 at 9:34 pm
For My Unit Fans..
Heres A New 50 Cent Song Off B.I.S.D..Produced By Swizz Beats..Legit..
50 Cent Get Up..
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October 6th, 2008 at 9:57 pm
HOW’S OBAMA THE LESSER OF 2 EVILS WHEN HE’S A SOCIALIST, A GREAT PROMISER, AND HANGS AROUND WITH TERRORIST? SMH.
October 7th, 2008 at 7:15 am
Watch Zeitgeist addendum http://video.google.com/videoplay?docid=7065205277695921912
October 7th, 2008 at 8:56 am
realtalk ure a bitch stop trying to brainwash everyone mccain was exonnerated of this. stop trying to cover up for obama’s “certainly friendly” relationship with an admitted domestic terrorist, bill ayers. (David Axelrod, his campain manager, was the one that said they were “certainly friendly.”) ayers picked obama to head the fundraising chapter of his radical CAC. Even the NY Times recently reported that Ayers and Obama are closer than Obama lets on. Ayers has said that his only regret was “not planting more bombs.” How about Tony Rezko, one of Obama’s biggest fundraisers going to jail now??? How about that property he sold Obama well under market value?? How about the shady dealings involving him and Obama buying million dollar houses next to each other on the same day??? why hasn’t obama released his campaign contributions????
more importantly than any of this obama’s plans to double the captial gains tax will ruin our economy for good. you can’t raise taxes on businesses in a slow economy that’s basic.
October 7th, 2008 at 9:44 am
if obama don’t win now! Mannn it’s going to be some shit?
p.s 2COOL4U IS JUST LIKE U?
October 7th, 2008 at 9:53 am
Some people on here most likely arguing against their political and financial benefits. Obama isn’t raising taxes fuckin liar.
October 7th, 2008 at 11:13 am
stop being ignorant. everything i said is exactly true. obama does want to double the capital gains tax. that means no business, no investments. that’s not even getting into his record of voting to raise taxes on people making 40,000 a year. and yes, go to fact check or anywhere else, he absolutely did vote to do that, numerous times. just cuz obama tries to present himself in a good light doesnt mean he actually intends any good. my political and financial benefit is to still have a job, to still have a working US economy. it’s not to pay 62% in income tax or any other kind of tax thats for sure. Also, Obama received the second most money from Freddie and Fannie, the source of this problem. The guy who received more than him(chris dodd) did so over like 20 years. obama cleaned up from them in his extremely short tenure in the senate.
October 7th, 2008 at 12:59 pm
XYZ…CHUUUUCH
These cats dont know….they see a black candidate and pull the lever….
I aint really feelin either candidate….but I am smart enough to do my research…and Obama aint what he claims to be.
He is sellin and you niggas is buyin….
October 7th, 2008 at 1:05 pm
To XYZ, I guess your a Mccain to the end huh? Your trying to make it sound Obama was involed piloting attacks or something with Bill Ayers. So what he knew the guy, its not like he is covering for him like certain other people.(McCain) Highers taxes are coming no matter who is President. So that statement is so week. Hate when people can conceed to the truth. McCain doesnt know anything about the encomic, his aid called the America people whinners(Unreal)
October 7th, 2008 at 4:20 pm
Taj,
XYZ doesn’t have to be Mccain to the end just because he dislikes Obama, get your head outta your ass.