Federal regulators seize Lincoln Savings and Loan, ending Charles Keating’s systematic fraud scheme that ultimately costs taxpayers $2.3 billion—one of the costliest S&L failures in American history. The seizure comes after years of regulatory delays caused by political interference from …
Charles KeatingFederal Home Loan Bank BoardResolution Trust CorporationLincoln Savings and LoanKeating Five Senatorscharles-keatinglincoln-savingss&l-crisisfraudseizure+1 more
Five U.S. Senators—Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald Riegle (D-MI)—meet with Federal Home Loan Bank Board officials to pressure them to halt regulatory investigation of Charles Keating’s Lincoln Savings and Loan. The senators had …
Alan Cranston (D-CA)Dennis DeConcini (D-AZ)John Glenn (D-OH)John McCain (R-AZ)Donald Riegle (D-MI)+3 morekeating-fiveregulatory-capturecampaign-contributionslincoln-savingssystematic-corruption+1 more
Charles Keating, through American Continental Corporation, purchases Lincoln Savings and Loan for $51 million. Exploiting the deregulated environment created by Garn-St Germain, Keating rapidly expands Lincoln’s assets from $1.1 billion to $5.5 billion over four years through high-risk real …
Charles KeatingAmerican Continental CorporationLincoln Savings and LoanKeating Five SenatorsFederal Home Loan Bank Boardcharles-keatinglincoln-savingsfraudkeating-fiveregulatory-capture+1 more