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Did John McCain have an affair with a lobbyist and use his power for her client?

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The New York Times, in a bombshell report, raises serious questions about John McCain's integrity. Of course, such questions should be nothing new. In the 1980s, he intervened to keep regulators away from Charles Keating, a Savings & Loan operator, who contributed to McCain's campaign and let McCain's wife co-invest in a real estate deal. Keating's Lincoln Savings and Loan ultimately failed, costing taxpayers $3.4 billion.

But the Times story adds a new wrinkle. It raises questions about a 40-year old lobbyist, Vicki Iseman, whom McCain's advisors worried was having an affair with him. So they shooed her away from McCain as he tried to run, unsuccessfully, for President in 2000.

But that was not enough to stop McCain from intervening, yet again, on behalf of a powerful campaign contributor. In this case, it was Iseman's client, Paxson Communications. In late 1999, Iseman asked McCain's staff to send a letter to the Federal Communications Commission (FCC) to help Paxson on another matter.

Paxson's CEO Lowell Paxson was impatient for FCC approval of a television deal, and Iseman told The Times that she had sent to McCain's staff information for drafting a letter urging a swift decision. McCain complied. He sent two letters to the commission, drawing a rare rebuke for interference from its chairman.

Nobody's perfect. But maybe McCain's struggles with his own ethical problems should be resolved before he gets near the Oval Office.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.

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Last updated: November 08, 2009: 06:25 PM

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