On the anniversary of the Keating Five scandal that got Sen. John McCain into trouble and spurred his interest in campaign finance reform, we've put together a little video reminding the Senator of the hot water he was in, his past commitment to reform, and the letter we've written (which you can sign!) asking him to pledge to enact full public financing of federal campaigns if he is elected President.
From our press release marking the anniversary, a brief recap of the Keating Five story:
On April 2, 1987, Senator McCain joined four other U.S. Senators and federal regulators in former Sen. Dennis DeConcini’s (D-AZ) office at Room 328 of the Hart Senate Office Building. During the meeting, the senators, soon to be named the Keating Five, tried to intimidate regulators on Charles Keating Jr.’s behalf. Keating ran a real estate business in McCain’s home state of Arizona and a savings and loan in California. The businessman and his associates donated $112,000 to McCain’s campaigns. McCain also took nine trips at Keating’s expense, including three to the Bahamas, that he did not disclose until after the investigation was underway.
Ultimately, the federal government seized the company, leaving American taxpayers responsible for a $2.8 billion bailout, and 21,000 seniors lost their savings.