13 Minutes Could Save Your Retirement
Please watch this. Please pay close attention to the point, which is that the mistakes John McCain made in the Keating Five scandal are the very same mistakes he’s making today. Forget about the mudslinging he’s doing, forget about the nastiness, forget even about Sarah Palin for a minute. Watch this video and listen carefully to this: John McCain exercised poor judgment when he chose to override regulators in favor of Keating (and cost the taxpayers 3.4 billion dollars), and he’s doing it again now.
This is not mud. It’s truth. If John McCain still thinks deregulating markets is the answer, then he really is without a clue. And if he is finally coming around to the idea of regulatory restraints on the markets (which I doubt), it’s highly doubtful that he would support those restraints fully, given his aversion to deregulation and associations with anti-regulation cronies.
Remember this, when you hear the claim that McCain and Palin are straight-talking: Fraud is the creation of trust, and then its betrayal.
Bonus: 30 Lies McCain has told about Obama, debunked.
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KeatingEconomics.com has been launched to explain John McCain’s participation in the Savings and Loan scandals and his deep, deep ties to Charles Keating and S&L lobbyists.
On a personal level, I lived through this. I had clients that were Savings and Loans, whose employees lost everything when they blew up, just like the banks are doing right now.
In my opinion, there is nothing more important than having someone in the office of President who can grasp the complexities of these economic earthquakes and come to some idea of how to resolve them on a long-term basis. McCain is not the one for that job.
In both cases, it is the complete lack of regulation, reporting and disclosure that brought on the crisis. For a thorough explanation, I suggest listening to this podcast to learn more about the current crisis, the bailout, and the consequences of allowing banks, investment banks, and the commercial paper markets to function without any reporting, disclosure, or oversight of any kind.
If pensions were allowed to function this way, no one would retire. Or at least, they wouldn’t retire willingly or with any assets.
Watch for the documentary tomorrow. And let’s all make informed decisions.
Here’s the intro:
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