JOHN McCAIN HAS EXPERIENCE WITH MONEY SCANDALS - DO YOU KNOW ABOUT THE KEATING FIVE?

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John McCain was one of the Keating 5. George Herbert Walker Bush signed the Savings & Loan crisis that cost the taxpayers billions of dollars, and billions more in interest.
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Check out this clip from the new movie called "Third Term" of Progressive Accountability.org. It will be available 09/25/08
The new collapse on Wall Street which has featured huge bailouts of Fannie/Freddie and AIG by the American people directly relate to the 1980's S&L banking scandal that John McCain was deeply involved in called The Keating 5.
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Reporting of John McCain's Keating Five Scandal.
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The Keating Five

Dan Nowicki, Bill Muller
The Arizona Republic
Mar. 1, 2007

...McCain calls the Keating scandal "my asterisk." Over the years, his opponents have failed to turn it into a period.

It all started in March 1987. Charles H Keating Jr., the flamboyant developer and anti-porn crusader, needed help. The government was poised to seize Lincoln Savings and Loan, a freewheeling subsidiary of Keating's American Continental Corp.

As federal auditors examined Lincoln, Keating was not content to wait and hope for the best. He had spread a lot of money around Washington, and it was time to call in his chits.

One of his first stops was Sen. Dennis DeConcini, D-Ariz.

The state's senior senator was one of Keating's most loyal friends in Congress, and for good reason. Keating had given thousands of dollars to DeConcini's campaigns. At one point, DeConcini even pushed Keating for ambassador to the Bahamas, where Keating owned a luxurious vacation home.

Now Keating had a job for DeConcini. He wanted him to organize a meeting with regulators to deliver a message: Get off Lincoln's back. Eventually, DeConcini would set up a meeting with five senators and the regulators. One of them was McCain.

McCain already knew Keating well. His ties to the home builder dated to 1981, when the two men met at a Navy League dinner where McCain spoke.

After the speech, Keating walked up to McCain and told him that he, too, was a Navy flier and that he greatly respected McCain's war record. He met McCain's wife and family. The two men became friends.

Charlie Keating always took care of his friends, especially those in politics. McCain was no exception.

In 1982, during McCain's first run for the House, Keating held a fund-raiser for him, collecting more than $11,000 from 40 employees of American Continental Corp. McCain would spend more than $550,000 to win the primary and the general election.

In 1983, as McCain contemplated his House re-election, Keating hosted a $1,000-a-plate dinner for him, even though McCain had no serious competition. When McCain pushed for the Senate in 1986, Keating was there with more than $50,000.

By 1987, McCain had received about $112,000 in political contributions from Keating and his associates.

McCain also had carried a little water for Keating in Washington. While in the House, McCain, along with a majority of representatives, co-sponsored a resolution to delay new regulations designed to curb risky investments by thrifts such as Lincoln......

Read the full article: http://www.azcentral.com/news/specials/mccain/articles/0301mccainbio-chapter7.