Savings and Loan Senate Ethics Investigation
Members of the Senate ethics committee spoke to reporters on the results of their investigation into the ethics of five senators involved wi… read more
Members of the Senate ethics committee spoke to reporters on the results of their investigation into the ethics of five senators involved with the Lincoln Savings and Loan “Keating 5” scandal. Five senators, Alan Cranston (D-CA), John Glenn (D-OH), Dennis DeConcini (D-AZ), John McCain (R-AZ), and Donald Riegle (D-MI), were charged with accepting campaign contributions from Charles Keating, head of the Lincoln Savings and Loan, in exchange for deterring federal regulators from investigating the financial dealings of the savings and loan. The committee recommended that the Senate further investigate the actions of Senator Alan Cranston, and reprimanded the other four senators for their questionable involvement in the “Keating 5” affair. They also called for the Senate to discuss serious campaign reform to avoid similar scandals in the future. close
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Mr. Black continued his testimony during the afternoon.