In his 2002 autobiography, McCain called his actions on behalf of Charles Keating the worst mistake of his life. Apparently the event that turned McCain into a "reformer" never happened:
McCain is now saying the Keating Five investigation was a set-up, a witch hunt, a partisan smear job, and that he did nothing wrong
[According to] McCain's lawyer... The Keating Five Investigation was "a political smear job"
Americablog covers it here and here. Politico here.
The importance of this cannot be overstated. It was McCain's heartfelt confession of his sins in the Keating affair that gained him the reputation with the press he has ridden his entire political career ever since. Billmon correctly identified this "confession" and McCain's subsequent ideally timed mea culpas as a total con job in this brilliant diary which now becomes more relevant than ever. Please send it to everyone you know who still has an ounce of respect for McCain, along with the news of McCain recanting his admission of guilt in the Keating scandal.
McCain now seems intent on proving Billmon right beyond a shadow of a doubt.