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.
RealTalkNY talked with KRS-One, The Sugar Hill Gang, Grandmaster Dee, Naughty by Nature, Fat Joe & Juelz Santana about old school Hip Hop versus today’s Hip Hop. Answered included class, unity, performance & authenticity. VH1’s Hip Hop Honors show airs tonight @ 10 pm est.
Host/Editor - Joy Daily
Executive Producer - Nigel D.
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