Lincoln Savings and Loan
The Lincoln Savings & Loan was run by Charles Keating, who was later convicted of fraud, racketeering and conspiracy. Lincoln Savings & Loan was at the center of the 'Keating 5' scandal in which five senators were accused of ethics... [more]
The Lincoln Savings & Loan was run by Charles Keating, who was later convicted of fraud, racketeering and conspiracy. Lincoln Savings & Loan was at the center of the 'Keating 5' scandal in which five senators were accused of ethics violations for their involvement with Keating.
Cindy McCain's Keating Connection
For the sake of parity, and since we've already found out what a dirtball Todd Palin is, let's see what Cindy McCain has been up to...
Sen. John McCain’s wife and father-in-law continued a lucrative business partnership with disgraced financier Charles H. Keating Jr. for 11 years after the GOP presidential nominee said he ended his close friendship with Keating in March 1987.
Fountain Square Associates Ltd. Partnership (a Keating company) was created for the sole purpose of providing a tax shelter for wealthy investors. The only asset the company had was a shopping center in Phoenix (another Keating company). The shelter provided to these wealthy investors was the real estate depreciation of the shopping center (a provision that Congress later banned). Keating was eventually busted for Lincoln Savings & Loan collapse (in which John McCain and three other senators were directly involved):
Keating was convicted on 73 counts of bankruptcy and wire fraud in 1993, and sentenced to 12 years in federal prison. Four years later, his conviction was overturned on a technicality. In 1999, Keating pleaded guilty to four counts of fraud and was sentenced to time served.
On Monday, John McCain claimed to have no knowledge of his wife's financial investments relative to the shopping center. Not surprisingly, there is video of him (taken during the 1990-91 Senate Ethics hearing relative to his involvement with Keating) where he states that he was in fact aware of the shopping center and that he is "required" to know of his wife's financial investments...
So, to re-cap: Keating goes to McCain and three other senators and gives them lots of money so that they will protect him and ensure that their is no regulation or oversight of Lincoln Savings & Loan so that he can rip investors and, eventually, taxpayers off to the tune of $160.1 billion which subsequently throws the American economy into a recession. (Yeah - it was that huge, folks.)
The four senators (McCain especially) are like - cool! We get lots and lots of money and nifty perks, like trips to the Bahamas - this is awesome! But then they get busted. Keating goes to prison and the senators basically just get their wrists slapped.
If you're John McCain and your career was almost obliterated because of your own greed - and you were knowingly putting your country's entire financial industry and economy at risk - but you got a Get Out of Jail Free Card - don't you, at that point, say to yourself, "Whew, okay - everything is going to be on the up and up from now on."
Apparently not.
Instead, you knowingly allow your wife and her father to continue to do business with Keating so that they can make boatloads of dirty money on a bogus tax shelter.
Liar. Cheat. Scumbag. And, John, you're even worse.
John McCain went to Vietnam and he spent five years as a POW. He came back claiming to love America and built a political campaign which, understandably, exercised full advantage of his POW status (which, to this day, remains the only thing he can hang his hat on - even after 26 years in Congress).
McCain says he loves America. He proclaims, "Country First." But, honestly, it seems that he's spent his entire post-Navy career trying f*ck America over and he's had a really successful go of it. "Maverick" my ass; more like greedy, bitter and vengeful.
Sen. John McCain’s wife and father-in-law continued a lucrative business partnership with disgraced financier Charles H. Keating Jr. for 11 years after the GOP presidential nominee said he ended his close friendship with Keating in March 1987.
Fountain Square Associates Ltd. Partnership (a Keating company) was created for the sole purpose of providing a tax shelter for wealthy investors. The only asset the company had was a shopping center in Phoenix (another Keating company). The shelter provided to these wealthy investors was the real estate depreciation of the shopping center (a provision that Congress later banned). Keating was eventually busted for Lincoln Savings & Loan collapse (in which John McCain and three other senators were directly involved):
Keating was convicted on 73 counts of bankruptcy and wire fraud in 1993, and sentenced to 12 years in federal prison. Four years later, his conviction was overturned on a technicality. In 1999, Keating pleaded guilty to four counts of fraud and was sentenced to time served.
On Monday, John McCain claimed to have no knowledge of his wife's financial investments relative to the shopping center. Not surprisingly, there is video of him (taken during the 1990-91 Senate Ethics hearing relative to his involvement with Keating) where he states that he was in fact aware of the shopping center and that he is "required" to know of his wife's financial investments...
So, to re-cap: Keating goes to McCain and three other senators and gives them lots of money so that they will protect him and ensure that their is no regulation or oversight of Lincoln Savings & Loan so that he can rip investors and, eventually, taxpayers off to the tune of $160.1 billion which subsequently throws the American economy into a recession. (Yeah - it was that huge, folks.)
The four senators (McCain especially) are like - cool! We get lots and lots of money and nifty perks, like trips to the Bahamas - this is awesome! But then they get busted. Keating goes to prison and the senators basically just get their wrists slapped.
If you're John McCain and your career was almost obliterated because of your own greed - and you were knowingly putting your country's entire financial industry and economy at risk - but you got a Get Out of Jail Free Card - don't you, at that point, say to yourself, "Whew, okay - everything is going to be on the up and up from now on."
Apparently not.
Instead, you knowingly allow your wife and her father to continue to do business with Keating so that they can make boatloads of dirty money on a bogus tax shelter.
Liar. Cheat. Scumbag. And, John, you're even worse.
John McCain went to Vietnam and he spent five years as a POW. He came back claiming to love America and built a political campaign which, understandably, exercised full advantage of his POW status (which, to this day, remains the only thing he can hang his hat on - even after 26 years in Congress).
McCain says he loves America. He proclaims, "Country First." But, honestly, it seems that he's spent his entire post-Navy career trying f*ck America over and he's had a really successful go of it. "Maverick" my ass; more like greedy, bitter and vengeful.
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