Featured Savings Rates

Savings And Loan Figure Charles Keating Dies At 90

Shorebreak
Shorebreak   |     |   3,983 posts since 2010

"Charles H. Keating Jr., the notorious financier who served prison time and was disgraced for his role in the costliest savings and loan failure of the 1980s, has died. He was 90. Keating allegedly bilked Lincoln Savings & Loan customers by selling them $200 million of unsecured "junk" bonds. They became worthless when Keating's company became bankrupt. The thrift's collapse cost taxpayers $2.6 billion and tarnished the reputations of five senators who became known as the "Keating Five."

Savings And Loan Figure Charles Keating Dies At 90 : NPR