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| McCain and the financial crisis | |
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| Tweet Topic Started: Oct 9 2008, 01:38 AM (35 Views) | |
| BoilerNLA | Oct 9 2008, 01:38 AM Post #1 |
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Coach
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http://my.barackobama.com/keatingvideo |
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| HoosierLars | Oct 9 2008, 10:29 AM Post #2 |
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3 in a row
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I strongly dislike McCain's relationship with Keating. However, the video becomes highly pro-Obama when it tries to connect the dots between the Lincoln S&L collapse and the current banking crisis. What regulations did McCain remove that caused the current crisis? Link? Clinton signed into law a bill that allowed investment banks to get involved with commercial banking. I think that event was a key enabler to the creation of MBS's that allowed huge amounts of capital, US and foreign, to flow into our mortgage system. When you combined that with Democrats using their political muscle to encourage risky sub-prime loans, you had a recipe for disaster. So I think it's fine to look at the details of the Keating 5 scandle (preferable a fair inquiry, not one conducted by the Obama campaign), but trying to tie the Keating scandle to the current crisis is either ignorant or disingenuous. |
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2:34 PM Jul 11