Question:

What was McCain's role in the Keating Five Scandal? Is he reformed?

by  |  earlier

0 LIKES UnLike

http://en.wikipedia.org/wiki/Keating_Five

 Tags:

   Report

3 ANSWERS


  1. This was a made up scandal that even the prosecuter said McCain should have never been involved, He was the only Republican the rest were Democrats.  


  2. 1. John McCain admitted to intentionally filing false income tax returns to defraud the IRS by not claiming thousands of dollars in gifts McCain and his family received from Charles Keating and Keating’s company. Years later, when the IRS noticed Keating’s company had written off the gifts to McCain as business expenses, McCain fessed up and admitted filing false returns and made a “donation” to the U.S. Treasury to cover the amount he defrauded American tax payers. (Committing tax fraud is one of the least offensive things John McCain has done over his career, but this article just focuses on his role in the Keating Five, and the Lincoln Savings and Loan scandal of the late 1980’s-early 1990’s).

    2. John McCain’s wife, Cindy McCain, along with her father, made a $359,000 investment in retail property owned by Charles Keating in 1986, a year before John McCain first met with federal regulators on behalf of Keating. Keating was later convicted on 73 counts of fraud, conspiracy, and other crimes. Years later, Cindy McCain sold her investment for $15,000,000.

    http://mccainkeatingfive.com/?p=6

    No he's clearly not reformed if his VP pick is anything to go by, she's currently under investigation for abuse of power.

    http://thinkprogress.org/2008/08/29/pali...

    How John McCain Reformed

    The Arizona senator hasn't changed since his Keating days

    http://www.reason.com/news/show/35983.ht...

    Charles Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion. His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

    Though he was not convicted of anything, McCain intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions. In the mid-1980s, McCain made at least 9 trips on Keating's airplanes, and 3 of those were to Keating's luxurious retreat in the Bahamas. McCain's wife and father-in-law also were the largest investors (at $350,000) in a Keating shopping center; the Phoenix New Times called it a "sweetheart deal."

    http://www.realchange.org/mccain.htm


  3. He was cleared of any wrongdoing by the investigation. the 4 democrats were not as fortunate.

Question Stats

Latest activity: earlier.
This question has 3 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.