I don't know how to get a diary to last for more than five minutes, but I am hoping this one does, not for any reason other than to get it exposure if you think the idea is worth something.
I have been reading the diaries and comments about the Keating Five and while I think it is a good idea to bring this part of the McCain biography into the campaign right now, I don't think just telling the history -- or doing anything that can be interpreted as tit for tat -- will work.
There is a simple frame that I do think could work.
The issue isn't what McCain did in the past. (Gets around the McCain/Palin charges that they are focused on the past, as well as some people's own impatience about that, particularly when the Keating Five was that long ago.)
The issue isn't the details of what happened. (Although a clear and simple narrative of the scandal and McCain's role in it is necessary to set the stage for most citizens, who either weren't around for it or who need the reminder.)
The frame is judgment. IN THE PRESENT, RIGHT NOW. The specific about McCain's bad judgment is how he doesn't learn from his own mistakes. He doesn't even get curious about how to deal with his own biggest mistakes going forward. (Does this sound familiar?)
- His career took its biggest dive over bad judgments about economic issues. He either did or didn't understand exactly how corrupt he was being, but that doesn't need to be argued now. (Some people who need to be won over will say he has acknowledged that, let's move on.)
- There was a huge economic consequence for the country, a, oh my goodness, bailout! To the tune of 150 billion dollars specifically for the S and L bailout pricetag, which doesn't count other government bank rescues which occurred around the same time.
- His response was to reinvent himself as a corruption fighter and pick an issue (campaign finance), that was not directly related to the scandal's biggest impact, but that could help him save his career.
- What he didn't do was to go learn about economics, about the seriousness of deregulation in its impact on the country. He didn't get actually curious about something that almost derailed his career. It was a defining moment for what he did not do.
- In 2008, there he is, saying he doesn't know as much as he should about the economy and he needs to read up on it. Again, something that almost derailed his career. He had 20 years to bone up.
- In 2008, he can't respond coherently to the credit and mortgage market meltdown, because he hasn't learned anything from his earlier experience, the one that came close to derailing his career.
- This is relevant because John McCain doesn't learn from past national catastrophes that he himself was involved in. This isn't bringing up the past or guilt by association, this is self-indictment by his own inaction.
This is about John McCain's judgment. His judgment now.
I would love to see Keith Olbermann use this frame or somehow get it to the Obama camp. I haven't seen it brought up, but apologize if I missed someone else's mention of this frame.