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 â€” with McCain’s fervent support â€” 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.
This challenges what Kathleen Hall-Jameson said on Moyers the other night, that McCain has â€œrepudiatedâ€ his ties with Keating and that he has â€œlearnedâ€ from it. This record should be laid out on the table for everyone to see.