Keating Economics

John McCain's direct involvement in the collapse of the Lincoln Savings and Loan Association (to the tune of $3.4 billion in costs to American taxpayers) back in the late 1980s seemed only to motivate him further to preach the gospel of deregulation.

William Black -- a deputy director of the Federal Savings and Loan Insurance Corporation during the "Keating Five" scandal that nearly ended McCain's political career -- says the Arizona Republican's chief errors at the time were underestimating the importance of regulation and relying too heavily on slanted advice from captains of industry.
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Want to know more about the Keating 5 and John McCain's involvement? Check out the video below; it's lengthy, but quite interesting.



History repeating itself but at a much greater cost...much, much greater.