Top Ten Political Scandals

Previous Next
charles keating senators mccain john glenn loan bank
Margaret Thomas/The Washington Post/Getty Images

blog comments powered by Disqus

The Keating Five

The Keating Five scandal involved five Senators – Alan Cranston, Dennis DeConcini, John Glenn, John McCain, and Donald W. Riegle, Jr. – and the chairman of Lincoln Savings and Loan Association, Charles Keating. Lincoln was under investigation by the Federal Home Loan Bank Board for risky investment practices, and at Keating's urging  the senators met twice with federal banking regulators on his behalf.  Not coincidentally, Keating made over $1 million in campaign contributions to the five men. In 1991, the Senate censured Sen. Cranston and reprimanded the others for "poor judgment. Keating spent five years in jail for his poor management of Lincoln, which collapsed at a cost to taxpayers of $3 billion. [More]

Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.


We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.