It's shameful, this tactic, because it shows how low the Republican candidate will go when he starts sinking (no, tanking is a better word) in the polls.
In any event, the reckless and untruthful remarks have led the Obama campaign to release a web video that tells about McCain's involvement in the notorious Keating Five scandal that caused three U.S. Senators to be reprimanded, as McCain and another Senator, by the grace of a lower power, avoided that fate.
The Obama campaign's 13-minute documentary is called “Keating Economics: John McCain and the Making of a Financial Crisis” and it outlines John McCain’s role in the scandal that cost U.S. taxpayers $2.6 billion.
This will seem more relevant to many American voters than McCain and Palin's efforts to mock Obama's middle name and paint him as a terrorist, a charge that is an un-American as it is amoral.
Here's the video. Click to see it. (After the video image is a written synopsis of the Keating Five scandal.)
Here's the synopsis of the scandal, chilling and very relevant to today's crisis, as related by wiki:
The Keating Five were five United States Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators, Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly intervening in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of a regulatory investigation by the Federal Home Loan Bank Board (FHLBB).
The FHLBB subsequently backed off taking action against Lincoln. Lincoln Savings and Loan collapsed in 1989, at a cost of $2 billion to the federal government. Some 23,000 Lincoln bondholders were defrauded and many elderly investors lost their life savings.
The substantial political contributions that Keating had made to each of the senators, totalling $1.3 million, attracted considerable public and media attention. After a lengthy investigation, the Senate Ethics Committee determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle had substantially and improperly interfered with the FHLBB in its investigation of Lincoln Savings, with Cranston receiving a formal reprimand. Senators John Glenn and John McCain were cleared of having acted improperly but were criticized for having exercised "poor judgment".
All five of the senators involved served out their terms. Only Glenn and McCain ran for re-election, and they both succeeded. McCain would go on to become the Republican nominee for president in 2008.