I am sure that the Democrats would love for us all to forget this chapter in American history. I would hope that those of us that know, especially those of us that remember first hand will never let them forget it. Let us keep reminding them on a regular basis. We do not want this memory to fade away.

We should have learned some important lessons, and we ought not to forget them. First, heroes do not always make good senators. Second, just because a man is a good pilot does not automatically make him a good representative or senator. Third, it also does not insure their honesty or integrity.

John Glenn was a hero and an astronaut. John McCain was a notable figure from Vietnam. However, the two of them, along with Alan Cranston, Dennis DeConcini, and Donald Riegle, hatched a financial plot that rocked the financial fodations of the country to the point that we no longer have savings and loans. There is no doubt in my mind that they should have all gone to prison. The three non-heroes did, but not for long. My best guess is that they didn’t want to incarcerate a war hero and an astronaut. If it were all revealed, my guess is that none of them would have spent another day inn the Senate.

They interfered with investigations involving large savings and loan establishments, which eventually collapsed. Conveniently, Glenn and McCain were cleared and served no time. My money is on the fact that their hero status kept them out of prison. Well, there may have been some conversation and some bribery going on. That part we will never know. I can’t even hazard a good guess. However, I wouldn’t doubt for a minute that large sums of money exchanged hands.

The net result is that the Savings and Loans went the way of the dodo bird, which, for the most part forced us all to go to banks for doing all of our savings and receiving all of our loans. This was something of a windfall for the banks, especially since the savings and loan establishments were the primary compilation for the banks. When this all happened, I had to move my checking account from my savings and loan to a bank, which was not at all happy with. My S & L just went away. They never asked what I wanted. I don’t think they wanted to know.

And, the Keating five. Well I don’t think they cared either.

It would seem the feds just can’t resist the urge to get their mitts into the financial institutions and cause mismanagement every couple of decades. And it’s us that suffer. Those in government that mess things up never pay the costs.

Neither Glenn nor McCain did either.