At the completion of my investigation, I filed my report with the committee. I recommended that no further action be taken against Senators McCain and Glenn principally because once they learned that there was a criminal referral, they stopped aggressively doing Keating’s bidding with the regulators.
~~~After reviewing my report, the committee voted on October 23, 1990, to hold a public adjudicatory fact-finding hearing in the matter as to all five senators. This was perhaps the first time the recommendation of a special counsel not to charge a senator was rejected. This was pure politics as the Democrats on the committee did not want to cut McCain loose so that only Democrats would remain in the proceedings. If Senator McCain was not going to be cut loose, in retaliation the Republicans were going to keep Senator Glenn in the proceedings. McCain was the victim of politics, and poor Glenn was held captive to the decision on McCain. So much for nonpartisanship.
— Democratic Keating Investigation Counsel Robert Bennett
In the Ring: The Trials of a Washington Lawyer
The committee ruled that Dennis DeConcini of Arizona, Donald Riegle of Michigan, and Alan Cranston of California “had acted improperly in interfering with the Federal Home Loan Banking Board’s investigation.”
Who do DeConcini and Riegle support for President?
Take a guess.
Former Senator Don Riegle Endorses Barack Obama
DeConcini backs Obama
Meanwhile Obama is frantically trying to say McCain can’t be trusted because the Keating deal was part of the S&L crisis of the 80s. But we are in a crisis TODAY, and who is to blame for that?
Plenty of Obama associates:
Just look to Penny Pritzker, Obama’s National Finance Chair and a long time supporter.
The Pritzker Family co-owned the Superior Bank FSB, which collapsed in 2001, resulting in a $460 million payment to federal regulators. Penny served as head of the Board from 1991-1994 and is a director of the bank’s holding company, Coast to Coast Financial Corp.
You won’t be surprised to learn that Superior Bank specialized in sub-prime lending, the kind Obama advocated for and the kind that has caused the current crisis.
Penny is now the Obama campaigns fundraising chair.
He associates with terrorists, criminals and racists. He allows people onto his team who helped cause the financial meltdown of today, and he wants to bring up a scandal that McCain was cleared of 20+ years ago?
Desperation.
See author page