Paula Dwyer , Columnist

The Worst Is Probably Over For The Keating Five

February 4, 1991 at 5:00 AM UTC

Paula Dwyer is a senior editor with the New York editing hub, focusing on daily and long-form enterprise. She was London bureau chief for Businessweek and Washington economics editor for the New York Times, and is a co-author of “Take on the Street: How to Fight for Your Financial Future.

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While the Persian Gulf war has kept Americans glued to their TV sets, the public has all but forgotten the big televised drama of last fall: the Senate trial of the Keating Five. Public hearings have ended, and the Ethics Committee will soon render its verdict. Odds are that the five senators accused of improperly aiding former savings and loan magnate and large-scale contributor Charles H. Keating Jr. will be let off with little more than a slap on the wrist.

All five say they were just providing routine assistance to a constituent when they helped Keating with thrift regulators. The ethics panel is likely to buy that argument. Says attorney Stanley M. Brand, who has represented House members in ethics cases: "The problem I'm having is understanding what the violation is. There's no rule against taking campaign contributions from people you help."