Fri Jul 20, 2012, 03:17 PM
JHB (22,123 posts)
"Do you think that is the kind of person that is trying to hide things, or do things?"
While it doesn't get as much attention as the "you people" part of the interview with Ann Romney, this part jogs a thought:
"You know, you should really look at where Mitt has led his life, and where he’s been financially. He’s a very generous person. We give 10 percent of our income to our church every year. Do you think that is the kind of person that is trying to hide things, or do things? No. He is so good about it. Then, when he was governor of Massachusetts, didn’t take a salary in the four years."
Keating is best known as the man behind Lincoln Savings and Loan back during the S&L crisis, a high flyer who was swindling retirees by selling them "secure investments" that were actually junk bonds, and used the political influence of The Keating Five (four Democrats and John McCain) to keep it going.
Before that, in the 70's, he had a some dubious dealings too:
Keating left his law practice in 1972 and formally joined American Financial Corporation, by now a $1 billion enterprise, as executive vice president. Keating became Lindner's hatchet man, in charge of firing employees from newly acquired companies. Within business circles Keating gained a reputation for aggressiveness and arrogance. Keating also took on an operational involvement in The Cincinnati Enquirer, the town's only morning newspaper. To some on the paper, he interfered in editorial decisions, such as adding coverage to high school sports that he or Lindner's sons were involved in. The paper was then sold to a group including his brother William, who had been a Republican congressman from Ohio's 1st congressional district in the early 1970s. Keating was involved in American Financial's 1974 sale of Bantam Books and its decision that year not to enter the investment banking field.
By 1975 and 1976, several stockholder lawsuits were filed against American Financial, and Keating was under fire for aspects involving unsecured loans, stock warrants, and the sale of the Enquirer. The Securities and Exchange Commission launched a major investigation of the company and charged Lindner, Keating, and others with having defrauded investors for their own benefit and filing false SEC reports. At particular issue was a $14 million loan that the SEC said was made on preferential terms.
How did a guy with such dubious dealings get in charge of an S&L (aside from deregulation)? He acquired a reputation as an upstanding citizen.
Keating was (and is, he's not dead) a very moralizing Catholic, and when he had money he donated to Catholic charities, including a million dollars to Mother Theresa's organization.
Going back to the mid-50's, he was a crusader against smut and pornography (and defined it broadly).
"At a time when the spread of pornography has reached epidemic proportions in our country and when the moral fiber of our nation seems to be rapidly unraveling, the desperate need is for enlightenment and intelligent control of the poisons which threaten us – not the declaration of moral bankruptcy inherent in the repeal of the laws which have been the defense of decent people against the pornographer for profit." Keating also wrote, "One can consult all the experts he chooses, can write reports, make studies, etc., but the fact that obscenity corrupts lies within the common sense, the reason, and the logic of every man."
So yes, Mrs. Romney. Of course plenty of honest, honorable people donate to their church, but the fact that someone does so is no proof at all that they're not a swindler or have some other agenda.
By the way, I notice your husband plans to crack down on pornography. Please excuse me while I find an MP3 of the theme from The Twilight Zone.
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