Although I took the following info from wikipedia, it is still entirely factual and a matter of public record. I made the second paragraph boldface so that it would be hard to ignore:


In 1972, Charles Keating began to work for American Financial Corporation, a company involved in insurance and banking. Four years later he moved to Phoenix, Arizona to run the real estate firm American Continental Corporation, a spin-off of American Financial Corp. In 1984, American Continental Corporation bought Lincoln Savings. Such savings and loan associations had been deregulated in the early 1980s, allowing them the opportunity to make highly risky investments with their depositors’ money, an opportunity of which Keating took advantage.

Some regulators noted the danger posed by these deregulations and pushed for more oversight, but Congress refused. This may be due, in part, to the Keating Five, five Senators — Dennis DeConcini, Alan Cranston, John Glenn, Don Riegle and John McCain — who had received, for both themselves and for groups they supported, well over $1 million from Keating in the 1980s as favors and political contributions.[1] They later met twice with regulators who were investigating American Continental Corporation, in an attempt to end the investigation. (In 1991, they would be rebuked to various degrees by the Senate Ethics Committee.)[2]
In 1985, Keating hired Alan Greenspan as an economic consultant, in an unsuccessful effort to convince an oversight agency to exempt Lincoln Savings from certain regulations. Greenspan delivered a favorable report, writing that Lincoln Savings was “a financially strong institution that presents no foreseeable risk to depositors or the government.” (Greenspan produced similar favorable reports on numerous other banks that also failed soon after.) [3]

In 1989, American Continental Corporation, the parent of Lincoln Savings, went bankrupt. More than 21,000 investors, most of them elderly, lost their life savings (in total about $285 million.) This occurred largely because they held securities backed by the parent company rather than deposits in the federally-insured institution — a distinction apparently lost on many if not most depositors until it was too late. The federal government covered almost $3 billion of Lincoln’s losses when it seized the institution. Many creditors were made whole, and the government then attempted to liquidate the seized assets through its Resolution Trust Corporation, often at pennies on the dollar compared to what the property had allegedly been worth and the valuation at which loans against it had been made.

In 1989, Keating, when subpoenaed to testify before the House Banking Committee, invoked his right against self-incrimination under the Fifth Amendment to the United States Constitution.[4][5]


I am not endorsing Obama, but this is your John McCain people - his actions of the past speak for him today as far as I am concerned.