RTFA: http://www.youtube.com/watch?v=IDofbll86dY&feature…

During S&L Crisis, 747 Savings & Loans Banks Failed, Costing US Taxpayers $124 Billion; Deregulation Allowed Riskier Investments By S&Ls, Leading To Widespread Collapses And Fraud. In the 1980’s and early 1990’s the US economy was badly shaken by the failure of 747 savings and loan (S&L) institutions that had to be taken over and bailed out by the federal government. In total, the failures cost taxpayers $124 billion. One of the main causes for the epidemic of failures was the unregulated expansion of S&L’s, which had traditionally only dealt with home loans, into more exotic and riskier investments. When many of those investments failed, the institutions collapsed. [Chicago Tribune, 7/3/98, Los Angeles Times, 9/17/08]

Here’s a direct link to the video. McCain has been Keated by the Obama campaign.

Keating (past tense: Keated) is analogous to Swift Boating, in the sense that this video seriously undercuts McCain’s credibility. However, being ‘Keated’ differs from being ’swift boated’ insofar as this one is conspicuously documented by essentially every major media outlet, it is recorded in the Senate logs, and being Keated is to be confronted with incontrovertible factual evidence.

The only question I now have is: to what extent has McCain played an active role in the current sub-prime lending crisis?