John McCain’s current circle of confidants seems eerily close to those he
surrounded himself with during the Saving and Loans crisis of the late
’80s and early ’90s, when years and years of deregulation that McCain
helped facilitate on behalf of Charles Keating–the disgraced chairman
of the failed Lincoln Savings & Loan Association–led to the failure of
hundreds of banks and a $125 billion bailout footed by tax payers. The
scandal, known as the Keating Five, involved five senators who took
money from Charles Keating and subsequently challenged the regulators
investigating Keating’s operations.
–Erica Landau
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