Keating coming back to haunt McCain
The Democrats are responding to the negative personal attack ads of the McCain camp by calling attention to the Keating 5 Scandal, which led to McCain being rebuked on the Senate floor. Having e mailed supporters to see a new documentary on the website Keating Economics, available 12 pm Eastern. But it will be something like this:
At the heart of the scandal was Keating’s Lincoln Savings and Loan Association, which took advantage of deregulation in the 1980s to make risky investments with its depositors’ money. McCain intervened on behalf of Charles Keating with federal regulators tasked with preventing banking fraud, and championed legislation to delay regulation of the savings and loan industry — actions that allowed Keating to continue his fraud at an incredible cost to taxpayers.[ibid]
This, together with McCain not able to lead in the bipartisan attempt to get the $700bn bail out bill passed (without sweetners which is at the heart of what is wrong with American politics), may be a good tactic for the Democrats. Attacking with something substantive works as opposed to guilt by association.