Keith Olbermann's Special Comment on Bankers

It's been a while since there has been a "Special Comment" on Countdown with Keith Olbermann. I say it's long overdue. There's always something to be outraged about, right? , Olbermann's commentaries are always entertaining, usually with a bunch of "hell, yeah!" moments. Let's see what he's on about, now. . .

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Did You Know John McCain was One of the Keating Five?

Photo from New York Times

I pose the question in the headline, because for some reason, this fact is rarely even alluded to in the press, or from the Barack Obama campaign. Why is that? We're supposed to revere John McCain for his service in the military 40 years ago, and deduce that his experience as a POW shapes his character.

But we're supposed to ignore his philandering 30 years ago, and pay no attention to his involvement in a financial scandal 20 years ago. I think this is bad strategy. And I think we liberal bloggers ought to do all we can to give our readers a more complete accounting of McCain's character over the years.

So, if you'd forgotten--or never knew--about McCain's involvement in the savings and loan scandal, here's a helpful primer, with lots of useful links. Sorry, time for some homework. . .

[Excerpt]

McCain Keating Five Flashback: "You're a Liar"

The implosion of Wall Street this week comes as a triple-dose of bad news for John McCain. No doubt, his daily-changing response to the crisis confirmed McCain's self-proclaimed ignorance of economics. Perhaps even more damaging, America's financial nightmare conjured images of the savings and loan scandal 20 years ago, one in which McCain's close ties to political sugar daddy Charles Keating almost ended his career. And to be sure, flashing back to McCain's 1989 temper tantrum in response to his Keating Five charges can only remind American voters that John McCain is dangerously unfit for the nation's highest office. . .

Read more at: Perspectives

Thanks to Stupid Monkey Planet for the link.

Financial Woes Hitting Las Vegas

The other day while driving home, I had the local Las Vegas talk radio station on. Why? I dunno. Host Casey Hendrickson was interviewing national host Mark Levin, so the fact that I stayed tuned in took a lot of restraint. Levin asked the local host if it was true that the economy was bad in Vegas. Hendrickson said, oh you hear that we're the foreclosure capital of the US, but hey, massive building is still happening at the strip, and the hotels were all full. Hendrickson implied that it was really all overblown.

Then, on Friday, Boyd Gaming Group halted building on the massive new Echelon project. Sitting on the former grounds of the Stardust, Echelon is one of those multi-use properties, with boutique hotels, shopping, casinos, condos, and more. It's partially done, but because of the economic downturn, it is being completely shut down for at least a year. 800 people were laid off.

On top of that, the 1st National Bank of Nevada closed its doors a couple of weeks ago, but was fortunately snapped up by Mutual of Omaha. But a second bank has now failed, Silver State. That bank counted John McCain's son as a board member until a few days ago, until he resigned due to "personal reasons." Curiously, this has gotten little play from the national media.

I have no doubt that Las Vegas will weather the storm, and come back bigger than ever. But when will the rosy glasses view expressed by right-wing talk radio come down to earth?

Links:

KTNV: Economy Delays Construction On Echelon

Las Vegas Sun: Foreclosure central; Neighborhoods need protection in light of area’s leading foreclosure rate

Times Online UK: Nothing local about the First National Bank of Nevada

Las Vegas Now: John McCain's Son Resigns from Henderson Bank Board

Las Vegas Now: Another Local Bank in Trouble

Thanks once again to Stupid Monkey Planet for the inspiration and some of the links for this post.