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Posted on 10/05/2008 8:23:34 PM PDT by tcrlaf
Sen. Barack Obama (D-Ill.) on Monday will launch 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 is 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 overnight 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.
Obama-Biden communications director Dan Pfeiffer said: “While John McCain may want to turn the page on his erratic response to the current economic crisis, we think voters will find his involvement in a similar crisis to be particularly interesting. His involvement with Keating is a window into McCain’s economic past, present, and future.”
Obama’s offensive comes after McCain’s running mate, Alaska Gov. Sarah Palin, spent two days telling voters, donors and reporters that Obama showed poor judgment in his relationship with the former radical William Ayers.
McCain’s campaign has vowed to make a major issue of Obama’s Chicago relationships in coming days, with a senior McCain official telling Politico that they are “the vehicle that allows us to question Obama’s truthfulness about his past and his plans for the future.”
The McCain campaign also plans to invoke money launderer Tony Rezko. Officials say they will not bring up Obama's former minister, the Rev. Jeremiah Wright, because McCain has forbade his campaign from using that as an attack. But the officials said outside groups supporting McCain might highlight Wright.
Responding to the Keating blast from the past, a Republican official said the Obama team seemed "frantic" at "the mere mention of the word 'Ayers.'"
“The fact that the Obama team is recycling this old garbage 24 hours after Bill Ayers entered the race is a testament to how worried the Obama camp is of an unfettered airing of his associations," the official said. "Obama is a clever enough politician to know that his unexplored relationships with terrorists and felons are a serious liability in a race this close.”
The Obama website says: “The current economic crisis demands that we understand John McCain's attitudes about economic oversight and corporate influence in federal regulation. ... 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.”
In 1991, the Senate Ethics Committee cleared McCain of corruption charges but cited him for “poor judgment” in meeting with federal regulators on behalf of Charles H. Keating Jr., a political patron who went to prison for fraud in connection with the collapse of the California-based Lincoln Savings and Loan Association, which at the time was one of the biggest financial failures in the nation’s history.
I gave it to Drudge. He has been putting a lot of this stuff on his web site.
Let me get this straight..............
The NYT’s publishes a preemptive article about Ayres. IOW, they fire the first shot. (On a national level)
The question was “I wonder why?”
MAybe the answer is to give Obama prior justification to bring up the Keating Five.
I would be willing to bet this was planned.
Housing scandals...he really wants to go there?
I’ve got somebody on my blog trying to pull G. Gordon Liddy into this.
I hope Obama does this. This should make McCain go at Obama even harder.
I hope you are correct. Keating is a non issue anyway. That has been public knowledge for years, and McCain has been properly vetted throughout is public life. Obama on the other hand? Nope. The public knows very little of what this man really thinks, and who is really is.
But Freddie Mac & Fannie Mae were regulated, albeit by corrupt democrats.
John McCain MUST mention ACORN an the Presidential debate Tuesday night.
would someone mind giving me a quick dumbed down version of the keating 5 deal? I have done no research yet...need a little info before it hits tomorrow
He had better be worrying more about the show I saw tonight on Hannitys America!! Ive got a feeling it will rerun many times, and more and more people will be tuned in! I promise you, the people who watched it wont be quiet!!!
So, being attached to a scandal is bad? Obama? Huh?
After what’s going to come down tomorrow about Ayers and Dorhn’s relationship with Michelle and the Keating 5 and the nutty stuff about McCain and Asian women I doubt they even shake hands Tuesday. This has the promise to be the most acrimonious month since TR and Wilson in 1912 or J Q Adams and Jackson or may be all the way back to John Adams and Jefferson in 1800. You may not even see the GOP show up on 1/20 if Obama wins.
Because he's insecure, inexperienced, and has never faced a general election that was anything less than a cakewalk.
Right. If the Obama campaign was as confident in their position at this point as the various talking heads are then they’d just laugh it off and focus on their message of the week.
The Keating Five is old, old news, and at the end of the day, McCain was found not to have done anything wrong.
Meanwhile, associating with a known and unrepentant terrorist over a decade, working closely with him on the board of a foundation, and using his support to launch your political career speaks to one’s judgement. It also, IMO, speaks to one’s patriotism, or lack thereof. Keating Five is about old inside Washington baseball. Ayers is about who exactly Obama is and what his core beliefs might be.
McCain’s experience with Keating Five made him vigilant about campaign finance and ethics in general and led to McCain-Feingold. Obama’s really done nothing with Ayers other than trying to downplay the relationship and then the tepid ‘throw under the bus’ routine.
Keating Five is really a weak response as the question the Ayers relationship raises is about whether or not Obama really cares about this country as he says he does or whether he harbors the kind of feelings towards this country that Ayers does.
It also makes Obama appear desperate to change the subject. If Ayers isn’t that important, why are you so ready to go nuclear (as if Keating 5 is so) at the mere mention of your relationship with him? Methinks someone protests too much.
Michelle must be pissed. (Remembering someone mentioned that he does not make a move without consulting her, LOL!)
Have I missed something specific or are you giving a heads up?
It is about to get very nasty and this is good because McCain wins in a mud fest.
Yes, all freepers need to know McCain was EXONERATED after an investigation
EXONERATED
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