McCain Economics

Over the weekend, John McCain's top adviser announced their plan to
stop engaging in a debate over the economy and "turn the page" to more
direct, personal attacks on Barack Obama.

In the middle of the worst economic crisis since the Great Depression,
they want to change the subject from the central question of this
election. Perhaps because the policies McCain supported these past
eight years and wants to continue are pretty hard to defend.

But it's not just McCain's role in the current crisis that they're
avoiding. The backward economic philosophy and culture of corruption
that helped create the current crisis are looking more and more like
the other major financial crisis of our time.

During the savings and loan crisis of the late '80s and early '90s,
McCain's political favors and aggressive support for deregulation put
him at the center of the fall of Lincoln Savings and Loan, one of the
largest in the country. More than 23,000 investors lost their savings.
Overall, the savings and loan crisis required the federal government
to bail out the savings of hundreds of thousands of families and
ultimately cost American taxpayers $124 billion.

Sound familiar?

In that crisis, John McCain and his political patron, Charles Keating,
played central roles that ultimately landed Keating in jail for fraud
and McCain in front of the Senate Ethics Committee. The McCain
campaign has tried to avoid talking about the scandal, but with so
many parallels to the current crisis, McCain's Keating history is
relevant and voters deserve to know the facts -- and see for
themselves the pattern of poor judgment by John McCain.

So at noon Eastern on Monday, October 6th, we're releasing a 13-minute
documentary about the scandal called "Keating Economics: John McCain
and the Making of a Financial Crisis" -- it will be available at
KeatingEconomics.com, along with background information that every
voter should know.

Watch a preview right now and share it with your friends.

The point of the film and the web site is that John McCain still
hasn't learned his lesson.

And this time, McCain's bankrupt economic philosophy has put our
economy at the brink of collapse and put millions of Americans at risk
of losing their homes.

Watch the video to see why John McCain's failed philosophy and poor
judgment is a recipe for deepening the crisis:

http://my.barackobama.com/keatingvideo

It's no wonder John McCain would rather spend the last month of this
election smearing Barack's character instead of talking about the top
priority issue for voters.

But if we work together, we can make sure the focus stays on the
economy -- and how to fix it.

Please forward this email to everyone you know.

Thanks,

David

David Plouffe
Campaign Manager
Obama for America

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