Aug 10, 2017

What individuals in power potentially helped Charles Keating to get away with the fiduciary crimes that he committed?

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Charles Keating

INSTRUCTIONS:
What individuals in power potentially helped Charles Keating to get away with the fiduciary crimes that he committed? Research the Charles Keating savings and loan scandal and explain what individuals were responsible for assisting him. What was the background of these individuals? How can we stop this type of crime from occurring in the future?
CONTENT:
Charles Keating Name Instructor`s name Course Date Institution Charles Keating Charles Keating got Support from Five U.S Senators Charles Keating was the chairman of Lincoln Savings and Loan bank, which collapsed in 1989. Many stakeholders were defrauded, the state lost about $3 billion and investors lost all their investments (Pontell & Kitty, 2010). The scandal was commonly known as the Keating five since, it involved allegations of involvement of five U.S senators in fraudulent activities. The five senators were; the Democrat of Arizona, Dennis DeConcini; the Democrat of Ohio, John Glen; the Democrat of California, Alan Cranston; the Democrat of Michigan, Donald Riegle and the Republican of Arizona, John McCain. The five were alleged to have interfered in the investigations into Lincoln savings by the Federal Home Bank Board (FHBB) (United States Senate Select Committee on Ethics, 1991). Consequently, the board did not pur...


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