History often repeats itself. The recent problems in the American economy are like the problems we faced during the Savings & Loan crash of the late 80’s and early 90’s. John McCain was reprimanded by the bipartisan Senate Ethics Committee for his poor judgment in intervening with federal regulators on behalf of Charles Keating, who eventually went to prison for fraud.

The Keating scandal is eerily similar to today’s credit crisis, where a lack of regulation and cozy relationships between the financial industry and Congress has allowed banks to make risky loans and profit by bending the rules. And in both cases, John McCain’s judgment and values have placed him on the wrong side of history.

Find out more at www.keatingeconomics.com.