OC (CA) Register: McCain's role in S&L collapse rouses bitter memories

[stopbush]

Appearing in today's paper, right in the heart of McCain country:

Friday, September 26, 2008
McCain's role in S&L collapse rouses bitter memories
Some hurt by '80s troubles of Irvine-based Lincoln S&L hold grudge against presidential candidate.
By MARTIN WISCKOL
The Orange County Register


Laguna Woods' Leah Kane got a personal apology from John McCain after she lost $15,000 in the Lincoln Savings & Loan debacle of the late 1980s.

"He was very gracious," said Kane, 88.

But that doesn't mean Kane has forgiven McCain for his role as one of the "Keating Five," a group of U.S. senators who tried to protect the Irvine-based Lincoln Savings & Loan from regulators.

"It was a horrible time," said Kane, who helped organize several hundred Leisure World investors who lost money to the thrift. "So many people suffered. I do blame McCain. I believe he saw an opportunity for wonderful vacations and that he liked being around people with money."

(snip)

Kane, the Laguna Woods investor, ran into McCain in the early 1990s when she was in Washington to testify on the savings and loan collapse.

"He said he was proud of me for what I was doing, and he was ashamed for his family" because of his involvement, Kane said. "I felt bad for him. He was very gracious. He said he'd be very happy to help me if anything came up."

But Kane would prefer to see Obama running the country.

"I think there's a mischievous side to John McCain," she said.

Read the rest and take the poll here:

http://www.ocregister.com/articles/mccain-keating-lincoln-2170124-kane-savings

[livetohike]

1. Warning: Do not mess with Leisure World residents

:-)