McCain haunted by Keating 5 banking scandal
By Ashley TolandReporter, The VOICE
Practically two decades later, John McCain is reminded of his position in the Keating Five scandal. The attack against McCain appeared in the Barack Obama video, featuring the information about his role in the banking scandal in the 1980's.
The video was released after Alaska Gov. Sarah Palin, McCain's running mate, criticized Obama's involvement with William Ayers, a former leader and founder of the Vietnam-era radical group called the Weather Underground, in which, she made several references to Obama "palling around" with a domestic terrorist.
The Keating Five were four Democratic senators and republican McCain, who each received contributions from Keating. McCain personally accepted $112,000 from him, his family and associates. Keating ultimately went to prison and McCain repaid $112,000 to the U.S. Treasury. Nevertheless, McCain was kept as a defendant on the trial because the fact of being the only Republican.
Unfortunately, in 1991 McCain's involvement in the Keating Five scandal would effectively end his presidential ambitions. However, in the instant outcome the Senate Ethics Committee's conclusion in late 1991 found that McCain had shown "poor judgment" with the dealings of Charles H Keating Jr.
The Ethics Committee found McCain's actions "were not improper nor attended with gross negligence." Since then McCain ran for the Republican presidential nomination in 2000.
Furthermore, the scandal flew into the hands of Obama's campaign and was presented to the people once again, this time with much more ruthless effect.
Although, McCain was found to be less involved, Obama campaign manager David Plouffe said: "The McCain campaign has tried to avoid talking about the scandal, but with so many parallels to the current crisis, McCain's Keating history is relevant and voters deserve to know the facts- and see for themselves the pattern of poor judgment by John McCain."
McCain does not deny his involvement in the Keating Five and has placed all the information about his connection out on the table.
"The bottom line was that John had not violated any rule of the Senate or any law of the United States," states John Dowd, the Washington attorney who represented McCain during the Senate ethics probe.
John McCain will continue to present information about his involvement to the media and to the people before the election. "Also, when questions are raised about your integrity or for that matter anything involving your public career, even, for example, a controversial position on the issues, it is best not to hide from the media or public," comments McCain.
