McCains Economy

[dmuja]

In case you didn't know...

 

John McCain, Deregulation Hawk, Criminal (from Aug 4, 2008)

 

"John McCain’s affinity for supporting the deregulation of major industries puts him in league with the worlds most notorious corporate criminals. Deregulation is the tool of the super rich corporate criminal class, and John McCain is their poster child..." LINK

 

 

Financial deregulation

 

"In 1999, McCain voted for the Gramm-Leach-Bliley Act, which passed in the Senate by a vote of 54-44.[49] The deregulation bill loosened restrictions on the activities of banks, brokerage houses, and insurance companies. In 2002 he voted for the Sarbanes-Oxley Act, which passed the Senate without opposition.[50] In 2007, however, McCain stated that he regretted his vote in favor of Sarbanes-Oxley,[51] which strengthened financial reporting requirements for publicly held companies but which has been the subject of complaints from businesses.

 

In 2008, in the wake of the widely publicized crises involving the insurance company American International Group and the brokerage houses Lehman Brothers and Merrill Lynch, McCain stated: "In my administration, we're going to hold people on Wall Street responsible. And we're going to enact and enforce reforms to make sure that these outrages never happen in the first place." LINK

 

 

Charles Humphrey Keating Jr.

 

"...best known for his criminal involvement at the center of the savings and loan scandal of the late 1980s. As a result of his actions he is a convicted felon having been found guilty of fraud, racketeering, and conspiracy. His manipulation of five US senators (to whom he had made substantial financial contributions) to argue for preferential treatment from regulators led to those politicians being dubbed the Keating Five in reference to him."

 

 

Failure of Saving & Loan, the Keating Five

 

"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.)" LINK

[tvashtarkatena]

More McShitbag family follies:

 

Cindy's biz ties with Keating

 

Gotta hand it to the GOP, their know how to dredge up a bottom feeder to keep the hyper wealthly cocks sucked on command...and convince the Nascar lemmings to bend over and take it up the ass just by yelling "Down wit big gubmint!". See your post-retirement asses in the Walmart stockroom, you poor dumbfucks!

 

The GOP in a nutshell:

The 50% who are too dumb to figure out they're getting ass raped, nevermind who's doing the thrusting.

 

 

Edited September 20, 2008 by tvashtarkatena

[Mal_Con]

John McCain: "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."