McCain and Keating


This from the recent article on McCain from Rolling Stone.  

Unfortunately, any lessons McCain learned from the Keating scandal didn’t affect his unbridled enthusiasm for deregulating the finance industry. "He continues to follow policies that create the same kind of environment we see today, with recurrent financial crises and epidemics of fraud led by CEOs," says Black, the former S&L regulator. Indeed, if the current financial crisis has a villain, it is Phil Gramm, who remains close to McCain. As chair of the Senate Banking Committee in the late 1990s, Gramm ushered in — with McCain’s fervent support — a massive wave of deregulation for insurance companies and brokerage houses and banks, the aftershocks of which are just now being felt in Wall Street’s catastrophic collapse. McCain, who has admitted that "the issue of economics is not something I’ve understood as well as I should," relies on Gramm to guide him.

Make-Believe Maverick : Rolling Stone

This challenges what Kathleen Hall-Jameson said on Moyers the other night,  that McCain has “repudiated” his ties with Keating and that he has “learned” from it.  This record should be laid out on the table for everyone to see. 

Share

About Theoblogical

I am a Web developer with a background in theology, sociology and communications. I love to read, watch movies, sports, and am looking for authentic church.

Leave a Reply