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First Read is an analysis of the day's political news, from the NBC News political unit. First Read is updated throughout the day, so check back often.

Chuck Todd, NBC Political Director

Mark Murray, NBC Deputy Political Director

Domenico Montanaro, NBC News Political Reporter



I'll see your Ayers, raise you Keating

Posted: Monday, October 06, 2008 11:21 AM by Domenico Montanaro
Filed Under:

From NBC's Domenico Montanaro
Obama
camp wants to call attention to the Keating documentary it made, which seems largely a response to McCain on Ayers. 

"They said they were going to turn the page on the economy and play the guilt by association politics," an Obama aide said. "McCain's role in this scandal points to his past handling of economic scandals."

The aide noted the closeness of McCain and Keating -- that he gave Mccain $106,000 for his campaigns and that they'd vacationed together in the Bahamas.

"They had a close personal relationship," the aide said. "This is an association that is actually relevant to the past economic crisis and how he'd handle one in the future. This is one that has been glossed over." 

Video: Obama campaign senior adviser Robert Gibbs talks about Obama's new attack ad on McCain and the Keating scandal that the Arizona senator was involved in back in the late '80s.

Keating was instrumental in McCain's rise as a politician. The Arizona senator was cleared of accused wrongdoing in the Keating 5 scandal -- though he was rebuked by the ethics committee for poor judgment.

Obama camp is going to try to keep the message focused on the economy going forward. 

Aides are also wondering how McCain will try and pivot to attack Obama in a town-hall format, and how that will be perceived by voters.

"They previewed the strategy," an aide said. "Will he [Mccain] actually sit there and launch 90 minutes of character attacks against Obama?"

The McCain campaign has invoked William Ayers on the trail, which it also did before the conventions, as well as other associations. The Washington Post reported that Jeremiah Wright would not be part of an assault on Obama's character, citing McCain on a similar attack used by the North Carolina Republican Party. But Palin told Bill Kristol that Wright is fair game.

"My gut is someday they're going to find some clip that they think will be relevant" that "could scare some people" at the margins, the Obama aide said.

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McCain, like a raging badger, walked right into this one.
Here's a hint for the republicans:  "It's the ECONOMY STUPID!"  The issues need to be addressed by both sides, so cut the crap already, this is serious business. We don't need the G W Bush strategy for this election now.
Like Chuck Todd said on MTP (paraphrasing here) the McCain campaign utilizes these little tactics but has no overall strategy.

Ho hum. Can't wait for Tuesday's debate and to receive my absentee ballot so I can vote Obama/Biden!!!!!!! Be sure and deposit them in a PUBLIC RECEPTACLE - not left in your mailbox where party affiliation could be known or assumed.
DO YOUR RESEARCH MCCAIN WAS CLEARED REGARDING KEATING ISSUES!  OBAMA CAN'T DENY ANY OF HIS TIES TO FAR LEFT EXTREMISTS FRIENDS, BUSINESS ASSOCIATES, DOMESTIC TERRORIST AND PREACHERS!
The fear of Obama winning this election has already started. the dow drops 10,000 points today on news of Obama's lead. Obamas only plan is not hidden anymore.
Destruction US has started

The beginging of the END for the US ! Thanks Obamanuts !
"My gut is someday they're going to find some clip that they think will be relevant" that "could scare some people" at the margins," the Obama aide said.

Is there such a clip?  Why would the aide elude to this?
So they are equating someone who might or might not have had some bad business deals to someone who blew up police stations and the pentigon, is that it.....
Hey "War Hero" - you ever think about the 130 sailors you killed on the USS Forrestal with your crappy cowboy judgement?
And therefore, Palin's husband's association with a group advocating Alaska secession, is fair game as well!

And therefore, Cindy McCain's prior drug problems is fair game!

And therefore, McCain's drippy depends are fair game!

And now begins, the silly season of politics!
McCain was the closest and most influential of the Keating 5 to Chas. Keating.  He had the longest relationship.  McCain helped ruin lives - period.  McCain is a scum bag.  He was a POW because he was a sorry pilot.  He crashed 5 jets.  Pilots that don't have admirals for daddy's don't get that many.  His moral behavior in his first marriage is the icing on the cake.  
Keating will be an issue in the debate, Michelle. Don't worry.

Obama brought it up on the web so that he will be able to take questions about it tomorrow night, without spending so much money on ads. Perhaps?

Anyway, hold on to you hats!
The first sign of a desperate campaign is a frantic attempt to move away from issues and go exclusively personal. Please visit my website to read more about McCain's gutter politics - as well as Obama's historic ground game:

http://democratictribune.com
A conservative friend of mine stumbled onto the Obama channel on Dish this weekend.  She stuck around for about 15 minutes watching ads and part of his convention video.  Very interesting TACTIC.

As for the McCain Campaign.  Are you telling me he showed bad judgment and then was actually rebuked (censured) for it.  Hmmm?  You just can't teach an old dog new ethics.
John McCain, if he has to resort to this sort of campaign, when people are worried about their economic future, just shows what he's really all about. It's McCain first; it always has been.
Initially, I did not want to see McCain embarrass himself by losing his temper in front of all of America.

Now I realize it will be for the best if he does. The people need to see for themselves, how dangerously unstable he is.
IT'S ABOUT DAMN TIME! After all of the fear and smear attacks the McCain/Palin camp has launched, I can't wait for this to come up and bite them in the a--.  While their at it, they (Obama) may want to bring up a little organization that "first dude" once belonged to (and probably still does) called the Alaska Independence Party (who's agenda includes seceeding from America and becoming a province of Canada).

Obama/Biden '08!
weren't there four democrats as the keating five including the banking
chairman as one of them. let the party begin.
Wow!  The McPalin ticket will try anything to win.  Do anything, say anything and try anything is not putting country first!
weren't there four democrats as the keating five including the banking
chairman as one of them. let the party begin.
And, Obama got $125,000 from Fannie Mae!  chris Dodd got even more than that.  The Dems are so dirty in this whole housing deal. When will people wake up and smell the coffee.  Obama ia a crooked, sleazy Chicago politician
Well on the View this morning they did just was what Mccain was hoing for.  The talked about Mccain's Pit Bull Palin "a.k.a sarak palin"  trying to smear Obama with the old William Ayers story.  'Wake up people maccain & airhead palin are using lies & smoke & mirrors to throw off the focus on the issues, especially the Economy.  the more the talking heads talk about Maccain's smear campaign, the more the focus is off the real ISSUES.  that's how desperate mccain is..
This is a sad and pathetic last chapter in a man's life, whom many of us believed was an honorable hero.R.I.P. John McCain of Old…
all of this is going to be put on the backburner with the market looking like this.

McClown has got to be pissed off at this news

http://www.msnbc.msn.com/id/3683270/
Oh please...the Keating 5 scandal relates to how John McCain would handle the economy?  I see it as a flimsy and transparent excuse to bring up a past incident that calls McCain's character into question.  Go ahead and do it, Obama...just be honest about what you're doing.

P.S.  Obama's constant assertions that McCain is trying to "scare people" is, in my opinion, an intentional use of the race card...to me, playing the race card is just as despicable as racism itself.  If I don't vote for Obama, it will absolutely NOT be because I am scared or racist.  My vote is solely based on who I think will be the most effective leader (and it's a question I am still wrestling with, as I am an undecided voter).  
What about Phil Gramm's advisory position?

I think that is even more relevant... and damaging.

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/05/AR2008100501816.html?hpid=opinionsbox1
First read crew: Why do regular folks have to mention the topic before you report on it? You guys should have been on this already and it should have been in your "first thoughts" article and on MSNBC's main page. Ok, McCain is behind in the polls and you guys are not helping with som of your bias against Obama.

This story, from last night’s “60 Minutes” tells how, MORE THAN THE FAILURE OF THE UNDERLYING MORTGAGES, (which isn’t historically bad 6% now versus 25+% in the Depression), but the bizarre way Wall Street re-packaged them into securities, and MOST IMPORTANTLY, how they backed those securities with “Debt Swaps” that put those selling firms on the hook for trillions, if the loans, and hence the securities, went bad.  

And, per the story below from the Wash Post blog, Harold Meyerson put’s John McCain’s buddy, Phil Gramm’s (he of the “American’s are just whining about bad times” quote) fingerprints on the legislation that allowed the Wall Street firms to sell those “Debt Swaps” and NOT put the enormous liabilities on their books.

It’s those hidden “Debt Swap” guarantees, and the leverage behind them, that brought down Wall Stree!!


A Look At Wall Street's Shadow Market
60 Minutes: How Some Arcane Wall Street Financial Instruments Magnified Economic Crisis
Video: Wall Street's Shadow Market
________________________________________
A Pal Around McCain
By Harold Meyerson
Monday, October 6, 2008; Page A15
"There's no question that we have to change the subject here," a senior Republican operative told The Post's Michael D. Shear in a story published Saturday.
The "subject" in question is the economy and how to fix it. As Americans have taken their eye off the ball -- that is, off John McCain's sterling qualities of character and command -- by focusing on the economy, Barack Obama has surged into the lead nationally and in many key battleground states.
So long as the candidates talk about that pesky economy, McCain's handlers have realized, McCain will continue to swoon. Thus the campaign has announced that it will go on the attack again on the momentous topics of Obama's ties to the Rev. Jeremiah Wright and Bill Ayers, the onetime Weatherman who has been a University of Illinois education professor for nearly two decades.
Campaigning on Saturday in Colorado, Sarah Palin accused Obama of "palling around with terrorists" by associating with Ayers, citing as her source a New York Times story from that morning. In fact, the story concluded that the Obama-Ayers "relationship" consisted of both men attending the board meetings of two Chicago organizations and that there had been no contact between the men, other than bumping into each other on the sidewalk (they live in the same neighborhood), since Obama went to the U.S. Senate in January 2005.
The story of Obama's interaction with Ayers is drenched in irony, since it is basically a tale of Obama being co-opted into Chicago's civic establishment. In 1995, Obama, then a young lawyer with political ambitions but as yet no office, was recruited to chair the board of a school reform organization funded and established by the Annenberg Foundation -- a group that distributes the wealth of the estate of Walter Annenberg, Richard Nixon's ambassador to Britain. It was only then that Obama met Ayers, who already was a board member and a figure in Chicago's education-policy elite. (Mayor Richard Daley, that known radical, told the Times that he had consulted Ayers on education issues for years.)
Go join your city's establishment, and see what it gets you.
But if the McCain people want to rummage through presidential candidates' associations, real or imagined, to turn up figures who threaten to pull down this proud republic, they should begin in-house. Chief among those to whom responsibility attaches for the financial crisis that is plunging the nation into recession is former Texas senator Phil Gramm, McCain's own economic guru.
Gramm was always Wall Street's man in the Senate. As chairman of the Senate Banking Committee during the Clinton administration, he consistently underfunded the Securities and Exchange Commission and kept it from stopping accounting firms from auditing corporations with which they had conflicts of interest. Gramm's piece de resistance came on Dec. 15, 2000, when he slipped into an omnibus spending bill a provision called the Commodity Futures Modernization Act (CFMA), which prohibited any governmental regulation of credit default swaps, those insurance policies covering losses on securities in the event they went belly up. As the housing bubble ballooned, the face value of those swaps rose to a tidy $62 trillion. And as the housing bubble burst, those swaps became a massive pile of worthless paper, because no government agency had required the banks to set aside money to back them up.
The CFMA also prohibited government regulation of the energy-trading market, which enabled Enron to nearly bankrupt the state of California before bankrupting itself.
The problem with this exercise, of course, is that Gramm's relationship to McCain is not comparable to the relationships that Ayers or Wright have with Obama. The idea that either Ayers or Wright would have any impact on the workings of an Obama administration is nonsensical. But Gramm and McCain do have an enduring political and economic alliance. McCain chaired Gramm's short-lived presidential campaign in 1996; Gramm is co-chair of McCain's current effort. McCain has not repudiated reports that Gramm is on the shortlist to become Treasury secretary if McCain is elected, even after Gramm labeled America "a nation of whiners."
If we are to believe his managers, McCain will charge into tomorrow night's debate seeking to "change the subject" from the economy to Obama's dangerous liaisons. It's not, however, likely to be a winning tactic. Obama will argue that in a time of deepening economic crisis, the public deserves a debate in which the candidates focus on their ideas for recovery rather than tendentious attacks on their rival's presumed associates. If pressed, though, he can mention that it is McCain's senior economic adviser who has diminished American solvency and power beyond the wildest dreams of anti-American terrorists.
meyersonh@washpost.com
Read more from Harold Meyerson on washingtonpost.com's new opinion blog, PostPartisan.
The dow is crashing yet again, Republican trickle down economics with lax oversight and tax breaks for the rich and big oil has failed us.  Their failed philosophy has gutted the financial well being of millions of Americans.

Its accountability day this election year.  Time to hold them accountable for their disasterous policies and short sighted pandering to the rich and corporate lobbyists.
Palin and the RNC think this thing is "getting traction"...what she and the RNC don't realize is that it this resulting in a "net negative" for the McCain / Palin Campaign!

Let's have her husband on camera clearly denouncing his ties to the secessionist party up there in Alaska, and then let's have Sarah Palin herself on camera clearly denouncing the abuse of excutive power!!

And while we are at it, let's have McCain please explain his role in the Keating Five debacle, while clearly denouncing influence peddling, and lobbying regulatory agencies for "personal friends" like Keating...
They really don't want to go there; can't believe they went there with Ayers.  

There are already clips of Palin, in the pews, listening to a preacher "pray away the gay".  And there are already clips of Palin - on stage - being saved by the "witchdoctor preacher"!!  Nope, they really don't want to go there.  

McCain and Palin, and by extension everyone within their campaign, are truly the SCUM of this earth.  There is a "special place in hell" for all of them.
Sarah,,,,Why not talk to someone that dosen't advise your running mate.Bill Kristol is nothing more then a noe=con front man and people think what he says is somehow important.So she has done shows with Kristol,Hannity,and the truth tellers at Fox.Try the Keith Oberman show or Rachal Maddow,or Hardball since thats how you want to play,oh I forgot you only will meet with folks that will feed you softballs,and talk you through all the things you have no clue about.The new Rudy G,a noun, a verb,Where Mavericks,or I'm a hockey mom.OR we shoot wolfs from our airplane.Lots of Moose Caca.
Poor judgement eh? That is exactly the point. The fact that McCain's judgement was faulty at a critical time in our country's economy when we were once again sold down the river for the greedy and influential speaks volumes about the behavior we've seen coming forth from he and his campaign over the last few weeks and spotlights all the non-maverick incantations Sen. Biden was well versed in pointing out while Aw Shucks Sarah was getting cute and avoiding at last week's debate.
I'll see your Ayers and raise you KEATING 5 and the Witch Doctor Pastor!!!

Bring it on Caribou Barbie!!!!
I'm so glad Barack Obama isn't John Kerry and will let this stuff slide.  Fight back!


My Blog on the subject:
http://drock02.blogspot.com/2008/10/lets-take-another-look-and-calm-down.html
It's getting ugly out there on the campaign trail.  I am so proud of Obama saving up his Barack-tober surprise of the Keating 5 scandal.  It works so well with the current Wall Street meltdown.  Another Black Monday to start the week off correctly by keeping the voters focused on the economy.

Let's not forget that the real Troopergate investigation reports this Friday.  Let's hope the Alaskan Supreme Court denies the repugnant one's attempts to evade justice.

Go Obama/Biden 08/12!
What about the $121,000 that Obama got from Freddie Mac and Frannie Mae to look the other way. Obama and has Acorn associates were the ones who pushed for loans to be given to people who typically couldn't afford them. That is, to people who would most likely default on them. And now at the center of our financial crisis is this problem. The dems allowed for the top execs at FM/FM to earn a percentage of their total loans. I'm a democrat and its a shame that my party is trying to blame this mess on the Bush admin. Bush isn't innocent, but the dems were the ones who created this mess with their regulations on FM/FM. It was Obama's far left liberalism and his friends that got us in this mess.
That's right..hit fire with Ice water...At least the Keating 5 deal with the economy...YOU GO OBAMA!

our thoughts and prayers are with you and your family Joe.
HIT HER!!! HIT HER HARD Obama....this is about taking our country back from lobbyists and big corporations....not about her maverickiness, ak.a. bitchiness!!!

I hope she loses her reelection for Governor next time too...then she can go back to being a dumb housewife raising too many brats.
Which issue has greater relevance to the economic struggles of the day?

Obama-Ayers

or

McCain-Keating

When Lincoln Savings & Loan went bankrupt over 21,000 investors lost somewhere around $285 million in savings.  It became the poster-child for the last time there was a major financial crisis in this country and John McCain was at the center of it.

Yet John McCain wants to continue with deregulation?
McCain, you want people to vote for you? Then admit selecting Sarah to be your running mate was a COLOSSAL mistake. Integrity was never a word to be used by you in this campaign, neither was humility on your list, you might try to inncorparate both in Tuesday's debate. I might get you a few more votes. On the other hand, it probably won't make a bit of difference!
ayers isn't an economic issue - unlike keating 5. obama wasn't involved with ayers as he was 8 yrs old.  but mccain was directly involved with keating 5 so this is yet another huge mistake by the mccain campain that obama will capitalize on.  mccain is behavior is very disappointing.
Mccain was exonaorated.Obama hnever accounts for his past associations---only claims he knows nothing.Wondered why he never has any friends with him---they are all crooks.
Economics and Judgement...2 of McCain's glaring weaknesses. People who live in 13 glass houses should not throw stones.
IT'S A WRAP!
I wish it hadn't come to this-that the election could have been about the candidates and where they stand on the issues.  That said, I'm glad to see the Obama campaign fighting back.  It is sad that they can't simply take the high road but we saw what that did to the Kerry campaign 4 years ago.

I'd like to hear from undecided voters-does this really work?
Please, Obama team.  Please investigate G.Gordon Liddy and jackass mccain ties.  There's bound to be some stuff that would embarrass mcnasty.

Tom Brokaw----  Please ask mcmisogynist if he ever called his wife a truly dispicable name in public, and accusing her of being a 'trollop' (that's the nice part of the quote).

Please remember mctwo-timer was boffing Cindy(and who knows how many other women) while married to Carol who waited for the POS (I meant the 'S', he's soiled the POW standing).  

Please don't vote for a diseased, mentally unstable old fart and his screechy-voiced sidekick who threw her family under the bus for her political ambition.  She has no business touting family values as she has none.

This is why "some dead dogs should be left alone".
Sen. Obama was 8-years old during the Ayres controversy. The Keating-5 scandal occured during Sen.
McCain's active political career. Do they really want to go there? and Gov. Palin better start paying attention to "Troopergate" before that ruins her chances of ever running for President against the GOP ticket in the future. The chances of them winning the
White House this time around is fast slipping away -
for which I rejoice!!!!!
Hold on Obama Nation - we are almost there!!!!
Typical Obama camp. Says he will not be like other politicians. Attacks the fact that the other party is running smear campaigns, and then runs a smear campaign himself. And then his supporters think it's okay for him to attack since he's being attacked, but Obama already knew that would happen when he promised not to be that kind of candidate. He is not a typical politician.....he's worse.
This is why "some dead dogs should be left alone".
Sen. Obama was 8-years old during the Ayres controversy. The Keating-5 scandal occured during Sen.
McCain's active political career. Do they really want to go there? and Gov. Palin better start paying attention to "Troopergate" before that ruins her chances of ever running for President against the GOP ticket in the future. The chances of them winning the
White House this time around is fast slipping away -
for which I rejoice!!!!!
Hold on Obama Nation - we are almost there!!!!
I don't like the jugular, but we are not going to a fight with a knife if they have guns!

29 days to go.


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