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John McCain’s Keating connection and Gramm killed a foreclosure bill
by Mary MacElveen on Wed 17 Sep 2008 11:35 AM EDT | Permanent Link | Cosmos
John McCain’s Keating connection and Gramm killed a foreclosure bill
By Mary MacElveen
September 17, 2008
I would like to know just how much of a reformer and a maverick John McCain really is, when his past record proves otherwise. What about the Keating Five. I found a wealth of information in of all places, Free Republic (http://tinyurl.com/5tvol3) which tends to lean right. Exactly how much does he want to clean up Washington when in the past he has been part of the problem as well.
According to Free Republic, “In John McCain's America, any politician who accepts a large contribution or gift from a donor, and then takes steps consistent with the donor's interests — even though there is no legal quid pro quo — is corrupt.”
Quoting the Senate Select Committee on Ethics concluded about McCain's conduct in 1991, the committee itself found out disturbing facts of the senator.
"Mr. Keating, his associates, and his friends contributed $56,000 for Senator McCain's two House races in 1982 and 1984, and $54,000 for his 1986 Senate race.”
“Mr. Keating also provided his corporate plane and/or arranged for payment for the use of commercial or private aircraft on several occasions for travel by Senator McCain and his family, for which Senator McCain ultimately provided reimbursement when called upon to do so.”
“Mr. Keating also allowed Senator McCain and his family to vacation with Mr. Keating and his family, at a home provided by Mr. Keating in the Bahamas, in each of the calendar years 1983 through 1986.”
"From 1984 to 1987, Senator McCain took actions on Mr. Keating's behalf or at his request. The Committee finds that Senator McCain had a basis for each of these actions independent of the contributions and benefits he received from Mr. Keating, his associates and friends.”
The Senate Select Committee's final judgment of McCain was this, "Senator McCain exercised poor judgment in intervening with the regulators without first inquiring as to the Bank Board's position in the case in a more routine manner.” Note the operative two words there; poor judgment.
Yet, yet, he calls himself a reformer? This sounds like more of the same. Even right leaning Free Republic said of McCain, “The John McCain of old should be thankful that his political fate wasn't determined by John McCain the reformer.”
It is no wonder why the media was branded as an evil entity during the RNC when this article (http://tinyurl.com/6dm8ck) reported of McCain, “McCain conducted a poisonous newspaper interview nearly 20 years ago with his hometown Arizona Republic. Flashing his quick temper, he insulted, cursed and hung up on reporters questioning him about his ties to Keating. He said he now recognizes it was the worst way to respond.”
While he recognized his response to their questions was wrong, still his temper came through when all the media was trying to do was get to the bottom of this.
If he has a problem with say, Putin: Will he show this quick temper, curse and hang up on him?
CBS reported (http://tinyurl.com/6697z3) back in March of this year on the Keating scandal which involved John McCain and I want all of you seniors to pay attention who are thinking of voting for John McCain.
This is what they reported:
Keating's Lincoln Savings and Loan sold worthless, high-risk junk bonds. Many of the 23,000 investors were elderly customers who didn't realize their investments were not federally insured. Many were left destitute while Keating maintained a lavish lifestyle. Keating also participated in the risky investments that led to the collapse of S&L's across the country.
The U.S. government seized Lincoln in 1989, sticking taxpayers with a bailout cost of $2.8 billion. Many other thrifts collapsed, with taxpayers footing nearly $124 billion of the $152.9 billion bailout cost, according to the Federal Deposit Insurance Corp.
While McCain learned from this, it still proves he was part of Washington problems he says he wants to reform. I wonder what has happened to those elderly citizens since this bailout occurred.
John McCain has as his economic advisor Senator Phil Gramm and according to Think Progress (http://tinyurl.com/56t78y) are some very, very disturbing facts which calls into judgment, McCain’s judgment.
For everyone who has lost a home due to foreclosure, this is what you should know of McCain’s economic advisor who called those who complained of their economic standing “A nation of whiners”
“As recently as December 31 of last year, still working for Swiss bankers, specifically to help kill the Emergency Home Ownership And Mortgage Equity Protection Act and the Helping Families Save Their Homes and Bankruptcy Act, a bill that would have let bankruptcy judges adjust mortgages terms so American families facing foreclosure could repay their loans and keep their homes.”
This eye-opening yet sickening piece also reported of Gramm, “Gramm’s deregulation [as a senator] help set the stage for an explosion of banks slicing up subprime mortgages, bundling them with other mortgage slices, to hide the credit risks, and selling mortgage stew to other investment firms. That gave lenders powerful incentive to make as many loans as possible, regardless of risk.”
The most chilling words are a regardless of risk. We are only speaking of the financial meltdown that occurred the other day, yet there are other risks in this dangerous world. I think we as Americans have a right to question his judgment on a whole host of issues and not only this one.
In a wonderful piece called The Real American Traitors by William Rivers Pitt (http://tinyurl.com/3bohls), you will simply be blown away as you read, “During his administration, Clinton offered legislation that would give the Treasury Secretary broad powers to ban foreign nations and banks from accessing American financial markets unless they cooperated with money-laundering investigations that would expose and terminate terrorist cash flows.” Concerning this legislation put forth by former President Clinton, Phil Gramm killed this all important piece of legislation and he even had the audacity to say, “I was right then and I am right now. The way to deal with terrorists is to hunt them down and kill them."
Yes, you kill terrorists, but you must also cut off their funding. This is also a risk factor we must all think about especially when McCain surrounds himself with advisors in Senator Phil Gramm. I would like to know if the family members left behind on 9/11 in which the terrorists could have been stopped financially would be called “whiners” by Gramm in seeking justice for them.
by Mary MacElveen on Wed 17 Sep 2008 11:35 AM EDT | Permanent Link | Cosmos
John McCain’s Keating connection and Gramm killed a foreclosure bill
By Mary MacElveen
September 17, 2008
I would like to know just how much of a reformer and a maverick John McCain really is, when his past record proves otherwise. What about the Keating Five. I found a wealth of information in of all places, Free Republic (http://tinyurl.com/5tvol3) which tends to lean right. Exactly how much does he want to clean up Washington when in the past he has been part of the problem as well.
According to Free Republic, “In John McCain's America, any politician who accepts a large contribution or gift from a donor, and then takes steps consistent with the donor's interests — even though there is no legal quid pro quo — is corrupt.”
Quoting the Senate Select Committee on Ethics concluded about McCain's conduct in 1991, the committee itself found out disturbing facts of the senator.
"Mr. Keating, his associates, and his friends contributed $56,000 for Senator McCain's two House races in 1982 and 1984, and $54,000 for his 1986 Senate race.”
“Mr. Keating also provided his corporate plane and/or arranged for payment for the use of commercial or private aircraft on several occasions for travel by Senator McCain and his family, for which Senator McCain ultimately provided reimbursement when called upon to do so.”
“Mr. Keating also allowed Senator McCain and his family to vacation with Mr. Keating and his family, at a home provided by Mr. Keating in the Bahamas, in each of the calendar years 1983 through 1986.”
"From 1984 to 1987, Senator McCain took actions on Mr. Keating's behalf or at his request. The Committee finds that Senator McCain had a basis for each of these actions independent of the contributions and benefits he received from Mr. Keating, his associates and friends.”
The Senate Select Committee's final judgment of McCain was this, "Senator McCain exercised poor judgment in intervening with the regulators without first inquiring as to the Bank Board's position in the case in a more routine manner.” Note the operative two words there; poor judgment.
Yet, yet, he calls himself a reformer? This sounds like more of the same. Even right leaning Free Republic said of McCain, “The John McCain of old should be thankful that his political fate wasn't determined by John McCain the reformer.”
It is no wonder why the media was branded as an evil entity during the RNC when this article (http://tinyurl.com/6dm8ck) reported of McCain, “McCain conducted a poisonous newspaper interview nearly 20 years ago with his hometown Arizona Republic. Flashing his quick temper, he insulted, cursed and hung up on reporters questioning him about his ties to Keating. He said he now recognizes it was the worst way to respond.”
While he recognized his response to their questions was wrong, still his temper came through when all the media was trying to do was get to the bottom of this.
If he has a problem with say, Putin: Will he show this quick temper, curse and hang up on him?
CBS reported (http://tinyurl.com/6697z3) back in March of this year on the Keating scandal which involved John McCain and I want all of you seniors to pay attention who are thinking of voting for John McCain.
This is what they reported:
Keating's Lincoln Savings and Loan sold worthless, high-risk junk bonds. Many of the 23,000 investors were elderly customers who didn't realize their investments were not federally insured. Many were left destitute while Keating maintained a lavish lifestyle. Keating also participated in the risky investments that led to the collapse of S&L's across the country.
The U.S. government seized Lincoln in 1989, sticking taxpayers with a bailout cost of $2.8 billion. Many other thrifts collapsed, with taxpayers footing nearly $124 billion of the $152.9 billion bailout cost, according to the Federal Deposit Insurance Corp.
While McCain learned from this, it still proves he was part of Washington problems he says he wants to reform. I wonder what has happened to those elderly citizens since this bailout occurred.
John McCain has as his economic advisor Senator Phil Gramm and according to Think Progress (http://tinyurl.com/56t78y) are some very, very disturbing facts which calls into judgment, McCain’s judgment.
For everyone who has lost a home due to foreclosure, this is what you should know of McCain’s economic advisor who called those who complained of their economic standing “A nation of whiners”
“As recently as December 31 of last year, still working for Swiss bankers, specifically to help kill the Emergency Home Ownership And Mortgage Equity Protection Act and the Helping Families Save Their Homes and Bankruptcy Act, a bill that would have let bankruptcy judges adjust mortgages terms so American families facing foreclosure could repay their loans and keep their homes.”
This eye-opening yet sickening piece also reported of Gramm, “Gramm’s deregulation [as a senator] help set the stage for an explosion of banks slicing up subprime mortgages, bundling them with other mortgage slices, to hide the credit risks, and selling mortgage stew to other investment firms. That gave lenders powerful incentive to make as many loans as possible, regardless of risk.”
The most chilling words are a regardless of risk. We are only speaking of the financial meltdown that occurred the other day, yet there are other risks in this dangerous world. I think we as Americans have a right to question his judgment on a whole host of issues and not only this one.
In a wonderful piece called The Real American Traitors by William Rivers Pitt (http://tinyurl.com/3bohls), you will simply be blown away as you read, “During his administration, Clinton offered legislation that would give the Treasury Secretary broad powers to ban foreign nations and banks from accessing American financial markets unless they cooperated with money-laundering investigations that would expose and terminate terrorist cash flows.” Concerning this legislation put forth by former President Clinton, Phil Gramm killed this all important piece of legislation and he even had the audacity to say, “I was right then and I am right now. The way to deal with terrorists is to hunt them down and kill them."
Yes, you kill terrorists, but you must also cut off their funding. This is also a risk factor we must all think about especially when McCain surrounds himself with advisors in Senator Phil Gramm. I would like to know if the family members left behind on 9/11 in which the terrorists could have been stopped financially would be called “whiners” by Gramm in seeking justice for them.
