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Keating defense pressed as regulators warn of Lincoln S&L
William Black testified before the Senate Ethics Committee that Keating Five senators repeatedly defended Lincoln Savings and Loan despite detailed warnings of its unsound practices. He outlined massive uncredit checked loans, poor management, and a risky, “flying blind” institution, noting lawmakers remained unpersuaded. The hearing schedule stretched into January with James Grogan’s testimony planned in secrecy.
MENTIONED IN THIS ARTICLE
Washington
Charles H. Keating Jr
William K. Black
Senate Ethics Committee
Keating Five
Black
Keating
Lincoln Savings and Loan
Irvine
Calif
Lincoln
James Grogan
Warren Rudman
R-N.h
Grogan
DeConcini
Arizona
John McCain
John Glenn
Ohio
Alan