The Keating Five and the Savings and Loans Scandal – Video

If this financial crisis confuses you watch this video for some perspective. Many of the same companies that have gone under were involved in this S&L scandal nearly twenty years ago.

3 thoughts on “The Keating Five and the Savings and Loans Scandal – Video

  1. Unfortunately, I got back home after the debate between Barak and John McCain had started last evening. I got home in time to hear McCain say he’ll give us all a $5,000 deduction on our income tax so we can use that money to buy the health insurance of our own choice. Is he serious? How much health insurance do y’all think $5,000 will buy you? You might be able to buy yourself an aspirin and a band-aide. Barak will at least try to help us pay our doctor bills.

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  2. Something very interesting happened to me today. My car was giving some trouble yesterday so I took it in get get checked out this morning. As I was sitting in the waiting room, me and a young man began to have a conversation; it didn’t take long for the subject of the debate to come up. I said that McCain proposed that we all be given $5,000 on our income tax return to purchase our own health insurance rather that allow the gov’t to push Medicare on us. He tells me that’s not what McCain said (yes he did, I heard him loud and clear ). But let’s continue… he insists that McCain said that under his plan for health insurance, we would be responsible for only a DEDUCTABLE of $5,000 and the gov’t would pay for the rest of our doctor bills. As I said, that’s not what McCain said, but let’s analize what this very misinformed young man said just for the sake of argument. Example: here we have this imaginary family. They are trying to meet their house payment every month, keep some gas in their cars, put some food on the table, they have 2 kids, one of them is in college, they have other household bills to pa, and their trying to put money in their IRA retirement plans. This sounds like the average, everyday family. Are y’all with me so far? Now, let’s say that the mother comes down with breast cancer. Does this imaginary family sound like they can come up with $5,ooo to pay the deductable? If they have the “5 grand”, it’s in their IRA and in their house. In other words, their gonna have to cash the IRA and/or sell the house to pay the up front deductable and be broke and/or live out on the streets because now the medicines are gonna cost too.
    The young man next said this, check it out. He said that if the medical expenses become too high, then go to, for example, India to have your medical condition treated over there for about half the cost as here in America. Does this imaginary family sound like they can afford a trip to India, or anywhere else, for that matter? And if they finally make it to India, they’re gonna have to still pay the doctor over there because they’re not gonna give the mother treatment for her breast cancer for free!The young man then said that we should all save some money to pay the deductable, should it ever become necessary to do so. OK, let’s now inspect that. Does that imaginary family sound like they have any extra money to put away for a “rainy day”? It sure don’t sound like it to me. It was at this particular point that I stopped saying anything because I realized that I was talking to an imbicile who had about as much brain space as an empty peanut shell. All that non-sense he was talkin’ ’bout is OK if you’re “Cliff and Claire Huxtable”. But what happens if you’re “James and Flora Evans”? You’re up to your forehead in you-know-what, and you’ll go completely under if anything major hits. That is the essence of what Barak Obama is saying about McCain are that lady… they, and their followers, are totally out of touch with the reality of what working people are going through.
    P.S. Bill Cosby has this deep seated animus towads names such “Taliqua”, Shaniqua”, “Tanisha”, etc. He has made it abundantly clear that names such as these are totally inappropiate. If you agree, OK. If you disagree, that’s OK too. But please tell something, what kind of a name is “Huxtable”?

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