[big campaign] TODAY’S FINANCIAL CRISIS IS THE MCCSAME AS SAVINGS AND LOAN SCANDAL

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*TODAY'S FINANCIAL CRISIS IS THE MCCSAME AS SAVINGS AND LOAN SCANDAL* *McCain has been at the center of a circle of greed, special interest favors, and lack of bank and government oversight once before. McCain was reprimanded by the Senate Ethics Committee for his "Poor Judgment"** **during the Savings and Loan scandal. Years later McCain, along with Phil Gramm, advocated for the aggressive deregulation of Wall Street that led to today's financial crisis.* *"The reason why it's topical now isn't just because the federal government is using a similar rescue model to bail out Wall Street but also because of presidential nominee, John McCain's involvement both then and now."* * [Oregon Statesman Journal 10/04/08<http://www.statesmanjournal.com/apps/pbcs.dll/article?AID=/20081004/OPINION/81003068/1049/OPINION> ]* * * *See attached Research on McCain and the Keating 5 scandal * Clip from *Third Term<http://www.huffingtonpost.com/2008/09/19/mccains-economic-policy-k_n_127751.html> *linking McCain's actions in Keating 5 to his response to today's current financial crisis *Campaign Money Watch ad tying Keating to the economy: http://www.campaignmoney.org/keating *MCCAIN, GRAMM, SUPPORTED WALL STREET DE-REGULATION* · *Economic experts say that McCain Advisor Phil Gramm and others are to blame for the current crisis* *that is shaking Wall Street.* Gramm's successful effort to pass banking reform laws in 1999, which reduced decades-old regulations separating banking, insurance and brokerage activities, helped to create the current economic crisis. [ABC News, 9/17/08<http://abcnews.go.com/print?id=5835269> ] · *McCain Voted to De-Regulate Wall Street *McCain voted for 1999 Gramm-Leach-Bliley Act, which de-regulated wall street by breaking, "down the walls between banking, insurance, and securities…" [*American Banker*, 3/11/08, emphasis added] *MCCAIN HAS ALWAYS PUT LOBBYISTS AHEAD OF AMERICAN FAMILIES * · *McCain Donor, Charles Keating, "Sought a Quid Pro Quo" From McCain. *The banker's attitude was summed up the day a reporter asked whether his political donations to the senators encouraged their intervention. 'I want to say in the most forceful way I can, I certainly hope so,' Keating replied."[*Associated Press*, 3/23/08] · *For Keating, McCain Pressured Federal Regulators to Ignore Problems At his Donor's Bank. *In 1987, the *Los Angeles Times** *reported: "Five U.S. senators in an unusual show of support for a constituent, pressed federal regulators at a meeting last April to wind up a then yearlong examination of Lincoln Savings & Loan Assn. and to end 'unfair treatment' of the Irvine-based S&L, a spokesman for one of the senators said Monday." [*Los Angeles Times*, 9/29/87, emphasis added] · *McCain's "Poor Judgment" Admonished By Senate Ethics Committee. *According to the *Associated Press*, the Senate Ethics Committee admonished McCain for his involvement in the Keating 5 Scandal, saying he used "poor judgment." [*Associated Press*, 12/20/07] · *U.S. Taxpayers Paid $2.8 Billion for McCain's Mistake. *The *Associated Press* reported, "The U.S. government seized Lincoln in 1989, sticking taxpayers with a bailout cost of $2.8 billion." [*Associated Press*, 3/23/08] *MCCAIN CAMPAIGN IS RUN BY INSURANCE, DEFENSE COMPANY AND OIL LOBBYISTS* · *McCain Has At Least 164 Lobbyists<http://progressiveaccountability.org/2008/08/05/lobbyists/>Running His Campaign, Raising Money For Him, And Setting His Policy Agenda * · *At Least 29 Big Oil Lobbyists<http://progressiveaccountability.org/2008/08/05/lobbyists/>Advise or Fundraise for McCain * · *At Least 45 Big Pharma Lobbyists<http://progressiveaccountability.org/2008/08/05/lobbyists/>Advise or Fundraise for McCain * · *At Least 29 Defense Industry Lobbyists<http://progressiveaccountability.org/2008/08/05/lobbyists/>Advise or Fundraise for McCain * --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the "big campaign" group. To post to this group, send to [email protected] To unsubscribe, send email to [email protected] E-mail [email protected] with questions or concerns This is a list of individuals. 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