January 15, 1990 |
Charles H. Keating Jr., owner of the scandal-plagued Lincoln Savings & Loan of Irvine, predicted Sunday that the federal bailout of the nation's insolvent S&Ls ultimately will cost more than $500 billion, not the $300 billion now generally accepted. Keating also denied any wrongdoing in making $1.3 million in campaign contributions and other donations to Sen. Alan Cranston (D-Calif.) and four other U.S.
January 9, 1990 |
Senate Banking Committee Chairman Donald W. Riegle Jr., one of five lawmakers facing ethics investigations in the scandal involving Irvine-based Lincoln Savings & Loan, is starting a TV campaign aimed at limiting political damage back home in Michigan. Sen. Dennis DeConcini, D-Ariz., is shelling out $190,000 for newspaper and TV ads in his state. The other three senators, including California's Sen.
December 23, 1989 |
The Senate Ethics Committee announced Friday that it will begin a formal investigation of possible influence peddling by five senators accused of improperly interfering with government regulators on behalf of the failed Lincoln Savings & Loan of Irvine. The inquiry will seek to determine whether Sens. Alan Cranston (D-Calif.), Dennis DeConcini (D-Ariz.), John McCain (R-Ariz.), John Glenn (D-Ohio) and Donald W. Riegle Jr. (D-Mich.
November 30, 1989 |
Sen. Donald Riegle (D-Mich.) defended his involvement with Lincoln Savings & Loan Assn. on Wednesday and accused the news media of ignoring evidence that he did not influence regulators to delay closing the failed thrift. "A lot of the press stories have been based on the false notion that senators or others in Congress had somehow influenced the process, and that's not true," Riegle said.
November 29, 1989 |
Two of the nation's largest newspapers have been placed in an awkward position as they try to cover one of the year's hottest scandals--the massive Lincoln Savings & Loan fraud case--which has important connections in their own back yard. The business operations of both the Detroit News and the Detroit Free Press are now jointly run by William Keating, the brother of Charles H. Keating Jr., the central figure behind the collapsed Irvine thrift.
November 27, 1989 |
Edwin J. Gray, former chairman of the Federal Home Loan Bank Board, Sunday singled out Sens. Alan Cranston (D-Calif.) and Dennis DeConcini (D-Ariz.) for blame among the five senators who intervened with federal regulators on behalf of Lincoln Savings & Loan and its owner Charles H. Keating Jr. Asked Sunday if any of the five senators involved were "more culpable than others," Gray replied, "Yes, absolutely," and then named Cranston and DeConcini.
November 23, 1989 |
A key federal regulator warned top government officials nearly a year before the collapse of Lincoln Savings & Loan that their efforts to control the Irvine thrift would prove to be a "fiasco," according to an internal memo obtained by congressional investigators. The memo appears to contradict recent statements by M.
November 19, 1989 |
In late 1985, Shirley Lampel was a woman in anguish. Her husband had just died, and years of suffering from diabetes had left her without sight in one eye and only limited vision in the other. The one ray of hope was financial. Her doting husband, Sy, an auto mechanic, had left a $30,000 life insurance policy. Prudently invested, it would help support her modest but comfortable life in Santa Maria, Calif.
November 18, 1989 |
The Senate Ethics Committee voted unanimously Friday to have an outside counsel review influence-peddling allegations against Sen. Alan Cranston (D-Calif.) and four other senators in connection with the $2-billion failure of Lincoln Savings and Loan of Irvine. The committee voted also to have the special counsel investigate similar complaints against Sen. Alfonse M. D'Amato (R-N.Y.) resulting from scandal at the Department of Housing and Urban Development. Robert S.
November 17, 1989 |
The Senate Ethics Committee will appoint an outside counsel to investigate allegations of influence peddling against Sen. Alan Cranston (D-Calif.) and four other senators who intervened with federal regulators on behalf of Lincoln Savings & Loan after receiving campaign donations from the owner of the Irvine thrift, sources said Thursday. The panel is believed to have settled on Robert S.