McSame selection of soulmate, Sarah Palin, is not the only instance of poor judgment.

 

In the 1980's, the Senate Ethics Committee ruled that Sid exercised "poor judgment" when he met with federal regulators in the Keating Five Scandal.

 

For those of you who need a reminder or brief history of the Keating Five the following should help.  J. Sid "Mr. No Regulation" McSame is no stranger to banking failures or sleazy donors and used his convicted criminal father-in-law's money to get to Congress and the Senate.

 

As Todd A. Heywood at Michigant Messenger reports: "In the 1980s, John "I-fought-ethical-misconduct-and-undue-influence" McCain was a newly minted U.S. Senator from Arizona. He was elevated to that post from his seat in the U.S. Congress with the support of Arizona residents.

"Well, that support” and a lot of help from a certain fellow named Charles Keating.

"For those not up on their American disaster capitalism history, Keating was the chair of the Lincoln Savings and Loan Association and one of McCain's most fervent supporters and fundraisers.

"The Lincoln S&L collapsed under the weight of some pretty bad real estate deals, including a shopping mall McCain's wife and father-in-law had invested in.

"The collapse was eventually paid off by American taxpayers, to the tune of $2 billion, the most expensive bailout in American history up to that point.

"Learning of the impending crash and being told by regulators that Keating was facing criminal action, McCain backed away from his friend. And when the crash happened and his ties went public” including a meeting where regulators felt McCain and four other Senators (including Michigan's Don Riegle) were pressuring them” McCain denied any wrongdoing.

"In 1989, a newspaper in Arizona reported the investment by McCain's wife and her father in a failed shopping mall. The newspaper also reported that the McCains had taken several trips to Keating's Bahamas hideaway.

"Oh yeah, the trips were paid for by Keating. McCain paid Keating back, but his involvement with Keating was eventually ruled by a Senate Ethics investigation as "poor judgment."

"And thus this bit of the "maverick's" history was relegated to the footnotes of his mounting presidential ambitions...

"This somewhat old scandal may not have traction here in the U.S. where we tend to forget history.

"But let's be honest, a $2 billion bailout for a friend's failed S & L is a big deal and it shows the kind of cronyism we have watched in the Bush administration over the last eight years.

"The Obama campaign has said the scandal is not off limits, but who knows when they will use it to raise serious questions about McCains judgment and his ability to effect change. But here's one observer who hopes it's VERY soon."

And this about McCain and Keating: "...Senator McCain is the only member of the Keating Five still in office. He was unique among the group on several dimensions. He was the only Republican. He had the longest, closest relationship with Keating. The relationship was social” Lincoln's airplanes flew Senator and Mrs. McCain, their children, and a nanny to stay at Keating's vacation home in the Bahamas. Senator McCain blames his failure to reimburse the expenses (which he was required to do by law), on his staff. He reimbursed only years later after the scandal broke. No other Senator had a close social relationship with Keating or similar airplane use issues. Keating was a bully and a nasty bigot, whom many politicians refused to deal with once they knew him, but Senator McCain viewed him as a personal friend (and major contributor) for a decade.

"Only Senator McCain (and Lee Henkel) had a financial conflict of interest involving the direct investment rule. Senator McCain's wife and father-in-law were engaged in a direct investment with Lincoln. Had the Bank Board taken enforcement action against Lincoln's violation of the direct investment rule Senator McCain's wife and father-in-law's investment would have been placed in substantial risk of loss...."

And this from a 1989 Phoenix newspaper article that shows McSame's dishonesty and dishonor and desire to be president by any means fair or foul even 20 years ago:

"You're John McCain, a fallen hero who wanted to become president so desperately that you sold yourself to Charlie Keating, the wealthy con man who bears such an incredible resemblance to The Joker.

"You sought out a master criminal like Keating and became his friend. Now you've discarded him. It shouldn't be surprising that you are now in the process of selling out your senatorial accomplices.

"You're John McCain, clearly the guiltiest, most culpable and reprehensible of the Keating Five. But you know the power of television and you realize this is the only way you can possibly save your political career."

And his son is also embroiled in a bank failure like Neil Bush.  Read about it here and here.