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Obama Releases 'Keating Economics' Documentary

The Obama campaign has released a 13 minute video called "Keating Economics: John McCain & The Making of a Financial Crisis." The video tells one version of the story of McCain's involvement in the "Keating Five" scandal and helps the Obama campaign make the argument that the Republican candidate played a "central role" in a financial crisis that led to taxpayer-funded government bailouts.

As The Post's Perry Bacon reports, the campaign has also launched KeatingEconomics.com and surrogates will appear on radio and TV to discuss McCain's involvement in the S&L scandal. The senator has apologized for his involvement in the scandal, which ran from the late 1980s into the early 1990s. McCain and Sens. Alan Cranston (D-Calif.), Dennis DeConcini (D-Ariz.), John Glenn (D-Ohio) and Donald Riegle (D-Mich.) faced criticism by the Senate Ethics Committee for aiding Charles Keating, then the chairman of the Lincoln Savings and Loan Association. The "Keating Five" asked federal investigators to not seize the company because it might be insolvent. Keating was eventually convicted of fraud and the company collapsed.

A 35-second preview of the documentary was watched at least 273,000 times since its release early this morning, according to Obama campaign spokesman Hari Sevugan.

-- Ed O'Keefe

By Ed O'Keefe |  October 6, 2008; 12:13 PM ET Barack Obama
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According to a new Poll, McCain/Palin is not the most desirable republican ticket, Huckabee/Palin would be the most desirable GOP ticket See Poll results at

Posted by: Anonymous | October 6, 2008 2:42 PM

Actor Jon Voight Was On Fox Last Night, He went nuts on Obama. Assuses him of all kinds of Crazy things. Watch his crazy rant at http://www.huckabeeshow.com

Posted by: Anonymous | October 6, 2008 2:47 PM

Actor Jon Voight Was On Fox Last Night, He went nuts on Obama. Assuses him of all kinds of Crazy things. Watch his crazy rant at http://www.huckabeeshow.com

Posted by: Anonymous | October 6, 2008 2:48 PM

Our country deserves the best from both party to be the potential leader of the free world. A President must have 1st class judgement, 1st class temperment, 1st class knowledge. By adding Sarah Palin, McCain did a terrible dis-service to this country. she has a 3rd class intellect, with 3rd class knowledge on anything. Mitt Romney, on the other hand, would be a much better candidate today than Sara Palin and people would be comfortable with him, should McCain passes away. I am ever scared to the notion that if elected, Mccain might die in office.

Posted by: Adam Habib Plano, TX | October 6, 2008 4:03 PM

The economic crisis is the Democrates Baby.
They wanted to help the poor people afford homes. Wake up!! We don't need to have the government controlling are lives!!!

Posted by: TW | October 6, 2008 8:59 PM

What a sad turn of events. A few months ago, I was thinking that we finally had some great choices for President, that the country would be better off no matter which of the candidates won. However the McCain campaign has transformed into a monster. At a time when we are struggling with enemies on many fronts, he is summoning all that is ugly and divisive to his cause, regardless of the consequence.

Posted by: OR in CA | October 6, 2008 9:46 PM

McCain is still an excellent choice for President. He will preserve America's freedom. If he is bringing out information about Obama's past or his posible involvement in ACORN, especially voters fraud, it should be known now rather than later in an investigation that would cost tax payers money.

Posted by: Tw | October 7, 2008 7:50 AM

ALRIGHT MCCAIN & pAINLIN,since you wanted
to keep playing ayers & wright.It's time
that both of you adulterators,show america
about yourselves,and how you cheated on your mates! is that good judgement,and you
sarah with your husband business partner
WOW is'nt that just sick.at least Mc need go for the Doe$$,And that Homo Hannity been
in heat with Rush(kiddie porn) for the last 18 months against our candidate.
mccain it't time for the hanoi video's
to be release to the public since you can't seem to figure out anything about our
falling economy,and palin just go under a rock
because you are the Devil in a blue dress!


Posted by: REDEEMER | October 7, 2008 10:54 AM

it seems like when they stop your jet and
the police question you about your precription shopping,but that prescription
was just viagira,but you were boy shopping
in the dominan republic,you know them
little boys will do anything for food and
money,you have taken advantage of the
childreeen.the light will shine on you

Posted by: Tyrone | October 7, 2008 3:13 PM

To understand the Keating 5 incident…

In 1989 the five US Senators involved in the Savings and Loan crisis that took place in the later part of the last century were four Democrats and one Republican: Alan Cranston a Democrat from California, John Glenn a Democrat from Ohio, Donald W. Riegle a Democrat from MI, Dennis DeConcini a Democrat from Arizona, and John McCain a Republican from Arizona. The five were accused of getting involved in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of investigation regarding regulatory issues by the Federal Home Loan Bank Board Resulting in the Federal Home Loan Bank Board taking action against Lincoln.

The initial investigation involved potential criminal actions by Keating, Later the investigations extended to include the five senators. The FBI became suspicious of Cranston, most of the money from Keating went to Cranston and it involved voter-registration and consequently a tax-exempt status might have been violated.

Keating and DeConcini asked McCain to go to San Francisco to meet with managers regarding Lincoln Savings. McCain declined because he didn’t want to interfere. DeConcini told Keating. Keating then accused McCain for not taking action and resorted to calling him names behind his back. On March 24, Keating and McCain had an intense, arguable meeting.

The report said that McCain's actions were not improper. Senator McCain did not violate any laws of the United States or the Senate. On his Keating Five experience, McCain has said: "The appearance of it was wrong. It's a wrong appearance when a group of senators appear in a meeting with a group of regulators, because it conveys the impression of undue and improper influence.”

"Maverick Republican"
1995 – to Present

Campaign finance reform was passed with the McCain-Feingold Act in 2002.

After the Keating Five incident, McCain made attacking the corrupting influence of big money on American politics his main target.

McCain started the Campaign finance reform Act in 1994 working with Democratic Wisconsin Senator Russ Feingold. The McCain-Feingold bill put limits on funds that corporations, unions, and other organizations could donate to political parties. In the beginning McCain and Feingold's efforts were opposed by incumbents in both parties.

Posted by: TW | October 7, 2008 8:37 PM

Did you the beat down Mr.Gibbs gave hannity
last night,I mean Gibbs had hannity picking
up the soap in the shower room! then the clown (hannity) told a lie that he was a journalist,well seanita what school of journalism did you attended? liar.

Also I like to commend the judge in Alaska
for not giving ted(crook)stevens a get out
of jail for free pass. Way to go Alaska.


Posted by: BULLWINKLE J. MOOSE | October 9, 2008 9:15 AM

SEN.Norm Coleman and Rep.Westmoreland
and lest not forget Sen.Kit(stop the black vote)Bond.Reopen the investigation of
Gov.Callahan and Sen.Wellstone! who was
the hit man inside the FTSB under Pres.
and VP> you know WHO!


Posted by: redeemer | October 9, 2008 11:35 AM

Interstin Article on a Sweet Talking Guy
Rezko & Obama

According to the Chicago Sun-Times Democratic White House hopeful Barack Obama has surfaced in the federal corrupton case against his longtime campaign fund-raiser, Tony Rezko.

Tony Rezko and Barack Obama first met in 1990 through Rezmar, one of Rezko's companies. Obama was employed in 1993, by the Chicago law firm Davis Miner Barnhill & Galland, who were community groups in partnership with Rezmar. Using these groups, and with Obama's help, the law firm helped Rezko acquire over $43 million in government funds to fix low-income apartments. During one of Chicago's coldest winters in recent years, a dozen different lawsuits caused the City of Chicago to force Rezmar to turn on heat for its tenants.

Barack had decided to move into politics with a run at State Senate, Obama was aware of all of the law suits but still accepted plenty of his donations for this and future runs from Rezko. Obama received $2,000 each from two of Rezko's fast-food businesses. Rezko had become someone Obama could rely on to build his early political foundation.

Obama run against Democrat Congressman Bobby Rush in 2000, Rezko donated another $1,000 each from himself, his wife, and four other employees at Rezmar, as well as bundling an unknown amount from others. Obama did not return these donations at the time but returned it eight years later after having already raised over $100 million in his bid to become President.

When Obama began his campaign for United States Senate in 2003 and 2004, Rezko again helped Obama. He gave $11,500 of his own money, Dan Mahru wo was Rezko’s partner give another $5,000, his wife and brother gave $1,500, and three others gave $3,500, $3,000 and $1,500 each. Rezko then held a fundraiser on Obama's behalf and personally bundled for his Senate and Presidential Campaigns until Obama found it suddenly convenient to return his donations when people began to learn who Rezko was.

Obama disclosed, in a 90-minute interview with Tribune reporters and editors, that Rezko had raised more for Obama's earlier political campaigns than previously known, gathering as much as $250,000 for the first three offices he sought.

Tony Rezko and Barack Obama , friends for almost twenty years. Rezko's antics of exploiting the black and low-income communities in Obama's own district were enough to be sued by the City of Chicago, and now he has been indicted by the United States Department of Justice. But apparently this was not enough for Obama to turn down his dirty money and connections.

Posted by: TW | October 9, 2008 6:04 PM

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