Barack Obama is distributing a 13 minute video on McCain’s role in the “Keating 5″. I think that it would be good for the American people to educate themselves on this topic so that they can make an informed decision.
This video is no documentary though, in that it offers no explanation from McCain, or anyone representing an alternative point of view. Okay, the producers are not under any obligation to do so, but that makes it propaganda and not informational. This is especially true, when they try to connect the Keating 5, to the present day meltdown.
The video insists that the Keating 5 case proved that lack of regulations leads to collapse, and people like McCain never learned their lesson. That point is debatable, but today’s collapse was not because of a lack of regulations. Quite the opposite, the cause of present day failures is precisely because of an abundance of socialist regulations and agendas, which multiple government agencies inflicted on the mortgage/credit markets. The two cases are not even comparable, except in that they both are related to banking.
It’s hard not to conclude that this is a dishonest video that doesn’t do much to truly educate the voter as to the facts of the Keating 5 scandal. It’s not surprising though. It’s not wise to look to a political campaign for unbiased explanations of anything.
Meanwhile, can anyone point to a good source of info on the Keating 5 and McCain’s role? I would like to know how bad it really is.
