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Obama Set to Air Second Olympic Ad

By Jonathan Weisman in The Trail:

The Ad: Barack Obama's campaign will release a new, feel-good economic advertisement this afternoon extolling the senator from Illinois's economic plan and slated to begin a nationwide run on Monday during the Olympics.

After two negative attack ads on John McCain, the latest ad is all about Obama, with light music and imagery of a nation at work.

"It begins with a plan, a plan to build, a plan to put hard-working Americans first," the narrator begins, before talking up plans to end tax breaks for companies that send jobs overseas, helping businesses create jobs in the United States, increasing spending on education, offering a $1,000 tax break for most middle-income families and prioritizing efforts to make the nation energy independent.

"Barack Obama, he'll put the middle class ahead of corporate interests," the ad states.

Analysis: Obama took a page from Sen. John Kerry's campaign in 2004 when he proposed ending the ability of companies to defer taxation on profits earned by their overseas subsidiaries until that money is brought back to the United States. Democrats maintain that tax break encourages firms to invest overseas and to never bring those profits home. Sen. John McCain and other Republicans say the entire corporate income tax structure is too onerous and needs to be remade to cut taxes on business and help U.S. industries be more internationally competitive.

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By Ed O'Keefe |  August 14, 2008; 5:02 PM ET Ad Watch , Barack Obama
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McCaint at 71, he apparently decided "now or never" and seems to have sold his soul, suddenly adopting a bunch of boilerplate conservative positions he was brave enough to resist 8 years ago.

Now, conveniently, he's even claiming to be a Baptist instead of an Episcopalian.

It didn't look like anyone was buying it for a while there, but danged if he hasn't come back and pretty much sewed up the Republican nomination.

McCaint went from front runner to 3rd or 4th in various polls, spent all of his huge pile of cash and lost most of his staff, and worked his way back into a dominant position.

John McCaint grew up Episcopalian. He went to an Episcopalian high school.

For at least 15 years, he has been listed as an Episcopalian in authoritative directories such as the Almanac of American Politics and Congressional Quarterly's Politics in America 2008. He told a reporter from McClatchy News Service in June 2007 that he was an Episcopalian.

Suddenly, in September 2007, he's campaigning in South Carolina, the heavily Baptist state where George W. Bush barely managed to stop McCaint's presidential campaign 8 years ago. And guess what? McCain tells a reporter "By the way, I'm not Episcopalian. I'm Baptist."

When pressed, he said he's attended the North Phoenix Baptist Church in Arizona for more than 15 years, though he has never been baptized in that church. Now see, that's exactly the problem. Baptism is kind of a big thing in the Baptist Church. (That's how they got the name.) No baptism, not Baptist.

Anyway, details aside, this is one very clear indication of how McCaint has changed.

Now, he's just another hungry politician, happy to pander if it helps him win. Which eliminates the very reason people were excited about him in 2000 -- his honesty.

Founding Member of the Keating Five
Back in the old days, defendants in famous trials got numbers -- the Chicago Eight, the Gang of Four, the Dave Clark Five, the Daytona 500.

McCaint was one of the "Keating Five," congressmen investigated on ethics charges for strenuously helping convicted racketeer Charles Keating after he gave them large campaign contributions and vacation trips.

Charles Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion.

His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because

Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

Though he was not convicted of anything, McCaint intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions. In the mid-1980s, McCain made at least 9 trips on Keating's airplanes, and 3 of those were to Keating's luxurious retreat in the Bahamas.

McCaint's 2nd wife and father-in-law also were the largest investors (at $350,000) in a Keating shopping center; the Phoenix New Times called it a "sweetheart deal."

In 1995, McCaint sent birthday regards, and regrets for not attending, to Joseph "Joe Bananas" Bonano, the head of the New York Bonano crime family, who had retired to Arizona.

Another politician to send regrets was Governor Fife Symington, who has since been kicked out of office and convicted of 7 felonies relating to fraud and extortion.

McCaint has a reputation as a politician who has difficulty keeping his pants zipped, according to Republican sources. He acknowledges that his adultery broke up his first marriage.

His second wife Cindy, the daughter of a wealthy Budweiser beer distributor, was addicted to prescription narcotics and even stole hard drugs from a medical charity that she ran.

McCaint acknowledges that she didn't want him to run, and only agreed once he promised that she doesn't have to go to New Hampshire or Iowa.

McCaint will soon squirm in his empty suit and $500+ shoes when he is asked this question...You were Episcopalian why are you a Baptist now...please explain??

Posted by: AlexP1 | August 15, 2008 9:02 AM

He will not be asked the right questions from the media trools about his religious change or about his many gaffs. The repubdogs have everyone of these hippocrites in their back pockets. It is up to us, the American people to research and find out about Mcambition and his wrong doings. Don't settle for what is being told to you. It is easy to find out who he is. Do your home work America.

Posted by: tygirl | August 21, 2008 3:34 PM

Obama is truly out of touch. He thinks knowing how many homes a person invests in makes him capable of being a president. If you have an investment firm and a staff to run those things why should it matter. Integrity is what the issue is here. Obama hangs out with mobsters...... is that ok? Vacations in Hawaii while he should be tending to gaining votes.... Or is he out of touch ??? Does it not matter to Obama. Obama you need to clean up your act before you think we can trust you...Mobsters will not get you elected!

Posted by: Barrack_007 | August 22, 2008 3:32 PM

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