Keating Five Scandal

Corruption, Nepotism, Malfeasance and Chicanery of Democratic Politicians

Dirty Democrats Cartoon

Show me a prominent Democrat, and chances are there's a suppressed scandal in their History. - In 1989 5 US Senators were accused of corruption, 4 were Democrats and one was RINO, John McCain aka songbird John. It was a major political scandal that should have made Watergate pale in comparison, but few ever heard of it as mainstream media would not carry allegations against their Democratic overlords any more than neccesity dictated..

The five senators were Alan Cranston (Democrat of California), Dennis DeConcini (Democrat of Arizona), John Glenn (Democrat of Ohio), John McCain (Republican of Arizona), and Donald W. Riegle, Jr. (Democrat of Michigan). They were all accused of improperly intervening 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 base of the allegations against the Keating Five is that Keating had made substantial contributions to these U.S. Senators in exchange for political favors. When the need arose he called on those Senators to work against federal regulators in his interests rather than the public interest.

Under Political Pressure by the well oiled ruiling class Democratic Machine, lead by the Keating 5 The FHLBB backed off taking action against Lincoln, the end result was disastrous leading to the savings and loan collapse.

Lincoln Savings and subsidiaries were seized in April , 1989. Over 20,000 customers, many living in California retirement communities, lost their life savings. Losses to the public came to between $250 million and $288 million of which only a small portion was ever paid back.

All five senators kept most of the generous donations from Keating, DeConcini returned his, Riegle announced he was returning his- but never did. Basically, they got off scott free. Glenn and McCain ran for re-election, and retained their seats. McCain would go on to be a failed Presidential candidate and was the last senator remaining in his office till he died in 2018.