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Obama opens door on the Keating 5 scandal in his speech today!

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DemsUnited Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:46 PM
Original message
Obama opens door on the Keating 5 scandal in his speech today!
Edited on Tue Sep-16-08 12:47 PM by DemsUnited
A snippet from Obama's kick butt speech in Golden Colorado:

http://thepage.time.com/obamas-remarks-on-confronting-an-economic-crisis/

It happened in the 1980s, when we loosened restrictions on Savings and Loans and appointed regulators who ignored even these weaker rules. Too many S&Ls took advantage of the lax rules set by Washington to gamble that they could make big money in speculative real estate. Confident of their clout in Washington, they made hundreds of billions in bad loans, knowing that if they lost money, the government would bail them out. And they were right. The gambles did not pay off, our economy went into recession, and the taxpayers ended up footing the bill. Sound familiar?


Oh, yeah. It sounds familiar. "Confident of their clout in Washington"? That would be a reference to the Keating 5, including one John McCain.

Obama can't name names but we sure can!
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:49 PM
Response to Original message
1. Yes. He. Did. !!
AS soon as I heard "savings and loan" I knew he was teasing the subject. I hope he develops the theme!
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tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:49 PM
Response to Original message
2. He's can't name names yet. He' can walk us all right to it,
and then drop it like a hammer, once adequately framed.

It's more of a warning to grampy. Like, "Oh, yes, you lying old fart. I am going there. Just try me"
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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 05:35 PM
Response to Reply #2
36. he doesn't have to, does he.
he just gives the media a bone, and maybe they'll pick it up and run with it. we'll see if that happens.
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hisownpetard Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:49 PM
Response to Original message
3. Why can't he?
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BuyingThyme Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:51 PM
Response to Reply #3
5. Because that might make for an easy win?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:55 PM
Response to Reply #3
7. Gives the m$m a chance to look into it (the big guys may be too young to know).
If the m$m picks it up, he can build the talking points around what's covered by the m$m. If they don't he has to shift tactics a bit.

I think it's a shrewd move on the campaign's part; you KNOW Olbermann and Maddow will run with it and I wouldn't be surprised if Matthews does as well.
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DemsUnited Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:59 PM
Response to Reply #7
8. that's my take, also! so I think it's our job to start pointing this out to the MSM so they cover it
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hisownpetard Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:00 PM
Response to Reply #7
12. I can't even imagine what we'd do without KO and Rachel who, on a daily basis, remind me
that we are not alone.
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mrJJ Donating Member (657 posts) Send PM | Profile | Ignore Tue Sep-16-08 01:02 PM
Response to Reply #3
13. Senate rules of etiquette
Probably has something to do with the unwritten "Senate rules of etiquette"
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:07 PM
Response to Reply #13
17. No, it's offeing the bait to the press. If they run with it (and some will), he doesn't have
to do much more but mention the news reports. Mccain has NO defencse on this issue; saves lots of campaign resources there's no need to cover it with ads because the press is on it.
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ProgressiveEconomist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:38 PM
Response to Reply #17
27. With debates starting in 10 days, Obama may be delaying his use of Keating 5
Even though the nominal subject for debate next Friday is National Security, surely some time will be devoted to the biggest story this month, the financial hurricane hitting Wall Street again.

IMO, sooner or later, Obama is going to tie the S&L crisis twenty years ago to today's mortgage derivatives mess. Wouldn't it be great if he did it during a debate?
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Doremus Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:41 PM
Response to Reply #13
28. Or it might have something to do with the Democrats that were part of it.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 02:09 PM
Response to Reply #28
30. None of whom are active in politics anymore. BIG difference. nt
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jojo54 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:50 PM
Response to Original message
4. Reaganomics!!
Good for the goose, but the gander (no gender discrimination intended), gets the shit kicked out of her.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:51 PM
Response to Original message
6. This. Is. Getting. Good! nt
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Pisces Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 12:59 PM
Response to Original message
9. I heard it too. He is going to sock McCain with it.
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Whisp Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:00 PM
Response to Original message
10. oooo yah baby! open up that can of worms!!!!
hallejuiah!

bet McCain is squinching his sorry asshole right now.

and hoping that obama will bring out more details soon, about Keating 5 and the Neil Bush S&L, and now I hear Jebbie was somehow involved in the latest scam - Lehman.

o m g

could this really be happening?
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tblue37 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:16 PM
Response to Reply #10
20. And John's son Andrew McCain was running the now failed
Silver State Bank.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:19 PM
Response to Reply #20
22. Another reason he was wise NOT to mention McCain's name. The press can go
with the Andrew Mccain story, not Obama.
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Whisp Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:26 PM
Response to Reply #22
24. you are correct! it's the other version of the dogwhistle tactic the repugs use.
just the hint of it will get some people all over it, Obama himself doesn't have to say a thing in detail...... yet.

but if th media makes a story out of this first, then O will jump in with both feet.

smart smart
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Whisp Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:00 PM
Response to Original message
11. dupe
Edited on Tue Sep-16-08 01:16 PM by Whisp
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:04 PM
Response to Original message
14. Playing chess.... getting the press to introduce it to the LIVs, not the campaign....

Much more effective that way.


Obama and his team are playing this perfectly.
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DemsUnited Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:06 PM
Response to Reply #14
16. Yup, 100% agree. And I'm also taking back what I said about the email ad.
I didn't like it at first but it obviously struck a chord. McCain surrogates trying to bat it down with stuff like inferring that McCain invented the Blackberry.

Heh. Playing chess is right.
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:07 PM
Response to Reply #14
18. Yup; beautifully handled! nt
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Median Democrat Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:05 PM
Response to Original message
15. He's Baiting The McCain Campaign By Not Mentiong John McCain
The McCain campaign could, of course, call it sexist, and further erode their credibility. The McCain campaign could just launch into another character attack on Obama, which sets up another out-of-touch round of response ads by the Obama campaign, since Obama's reference to the S&L debacle is directly related to the issues Americans are currently facing.

I think Obama has struck the perfect tone, which puts the McCain campaign in quandry. I predict that they will take an all of the above approach and call it sexist, and launch into another round of character attacks that are unrelated to the issues.
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AzDar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:14 PM
Response to Original message
19. Kick ass and name NAMES, O!
:headbang:
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:18 PM
Response to Original message
21. It's
Keating time


:woohoo:

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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:20 PM
Response to Original message
23. I think Obama is walking up to the line..
Edited on Tue Sep-16-08 01:21 PM by TwoSparkles
...and sending a signal to the McCain camp, that he'll cross it if they don't quit their
lying their shameless, disgusting campaign of perversity.

I personally, would love it, if Obama brought up Keating. It's the truth. It's on record.
Why do we allow these Republican thugs to silence us when there is a record of corruption
when it relates to McCain and Keating??

You can damn well bet than McCain would be using it every other day against Obama!

If McCain can produce an ad that depicts Barack Obama as a pervert who wants to teach children
about "comprehensive sex" then surely, Barack Obama can talk about the fact that McCain's
history includes his entanglements in the Keating 5 scandal.

Did everyone see the parting shot of Obama in that "kindergarten sex" ad??? Joe Scarborough, a
hard-right Republican, even commented on how unfair and sleazy that picture was. It was Obama
looking down--and smiling in a suggestive way--as if he was looking at a child, in a sexual manner.

I am so disgusted and upset by that ad--that I can barely stand! I think it's the worst
political campaign ad EVER made. EVER!!

They do this, and we're shy about mentioning the other side's real scandals and illegal activities?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:30 PM
Response to Reply #23
25. He's hoping the press will do it for him. If they don't, I've no doubt he will
start naming names, but if the press doews it it's WAY more effective.
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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:34 PM
Response to Original message
26. 5..... 5..... 5 keating foot long!....... 5...... 5....... 5......keating foot long!
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jillan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 01:42 PM
Response to Original message
29. I was holding my breath - waiting for him to say it.
Sooooo close.
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Vattel Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 02:19 PM
Response to Original message
31. The gods have given Obama a gift
with the recent economic news. That news + Keating 5 + Phil Gramm (sp?) + record of deregulating everything = Obama wins (I hope)
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Eyes_wide_ open Donating Member (417 posts) Send PM | Profile | Ignore Tue Sep-16-08 04:35 PM
Response to Original message
32. Once again the O team shows its brilliance,
and total grasp of the mindset about the average American voter. What most of the political junkie set here at DU don't seem to realize is that, for the most part Joe Sixpack has never even heard of the Keating 5 scandal. Even those that remember hearing something about that do not remember what it was about. Had we just brought it up, as many have been screaming to do, they would have looked at it as just 'old news', something McCain had 'obviously' been cleared of enough that it didn't interfere with his career. They never would have gone into the details, not seeing what it had to do with NOW.

With the present economic crisis however, the stage has been set to educate them. Obama wants us all to have a working understanding of how the policies of deregulation led directly to the present crisis. If, in that process, McCain's involvement is brought up ... well it has relevance, doesn't it?

And yes, if the press are the one's to bring up the scandal ... and how can they not given the circumstances ... well so much the better. Like it or not the press has more credence to the uniformed than our candidate, any candidate really. In the eye of Joe Sixpack, the 'press' doesn't have a vested interest in what they believe and so has no reason to lie to them. We know better, but then, WE pay attention.

Our guys 'get' that timing is everything :popcorn: This is going to be fun to watch! Popcorn anyone?
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kaiden Donating Member (811 posts) Send PM | Profile | Ignore Tue Sep-16-08 05:22 PM
Response to Original message
33. I was there. Obama the professor schooled all of us.
He talked about regulation, deregulation, free markets, capitalism, the crazy ideology of laissez faire capitalism. There were 2,500 of us in Lockridge Arena at the Colorado School of Mines and we sat spell-bound like we were auditing a master lecturers' series. Absolutely amazing. There was no rah-rah, no music (except at the end. Obama was fierce and chock-full of policy.

I have pictures, but I'm in my 50's and don't know how to download.
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DemsUnited Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-16-08 05:30 PM
Response to Reply #33
34. Thanks for the first hand account. Sounds like an amazing experience.
And maybe you can get one of those brilliant engineering students to help download the pics because I know we'd all love to see them!
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kaiden Donating Member (811 posts) Send PM | Profile | Ignore Tue Sep-16-08 05:33 PM
Response to Reply #34
35. Shoot. I wasn't even smart enough to think of that!
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