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Top Ten Political Scandals

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charles keating senators mccain john glenn loan bank
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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]

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