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Reply #2: Let's realize this stains democrats much more than mccain! [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
VeraAgnes Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-06-08 12:02 PM
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2. Let's realize this stains democrats much more than mccain!
Edited on Mon Oct-06-08 12:02 PM by VeraAgnes
Let's just put this to bed.............the 4 out of the 5 are all democrats...mccain is the only republican.

http://en.wikipedia.org/wiki/Keating_Five

The Keating Five were five United States Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators, Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly intervening in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of a regulatory investigation by the Federal Home Loan Bank Board (FHLBB). The FHLBB subsequently backed off taking action against Lincoln.

Lincoln Savings and Loan collapsed in 1989, at a cost of $2 billion to the federal government. Some 23,000 Lincoln bondholders were defrauded and many elderly investors lost their life savings. The substantial political contributions that Keating had made to each of the senators, totalling $1.3 million, attracted considerable public and media attention. After a lengthy investigation, the Senate Ethics Committee determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle had substantially and improperly interfered with the FHLBB in its investigation of Lincoln Savings, with Cranston receiving a formal reprimand. Senators John Glenn and John McCain were cleared of having acted improperly but were criticized for having exercised "poor judgment".

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