| By Dave Harding, ProgressOhio - Sep 24th, 2008 at 2:07 pm EDT |
During the savings and loan scandal in the late 1980s, Charles Keating — a wealthy Arizona businessman and chairman of the failed Lincoln Savings and Loan Association — turned to John McCain to ask for his assistance as he was trying to stave off the government intervention. Keating found a champion for deregulation in McCain.
Soon after arriving in Congress, McCain flew on Keating’s corporate plane to vacations in the Bahamas. He “did not pay for most of the trips until years later, when the matter became public.” By 1987, “McCain had received about $112,000 in political contributions from Keating and his associates.” McCain was investigated and ultimately admonished by the Senate ethics committee. Keating went to prison.
McCain’s involvement in the “last great financial scandal in our country” has largely been ignored by the media.
John McCain's Keating Five Problem In 97 Seconds
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