What The Keating Five Will Face
On Feb. 27, after 14 months of investigations and hearings, the Senate Ethics Committee made recommendations in the case of the Keating Five. At issue was whether five senators improperly interceded with regulators on behalf of Lincoln Savings & Loan owner Charles Keating.
Alan Cranston (D-Calif.), who says he'll resign next year, will face a trial-like proceeding that could result in a Senate vote to censure his conduct. Two others, Banking Committee Chairman Donald Riegle (D-Mich.) and Dennis DeConcini (D-Ariz.), will receive strongly worded letters calling their action improper but not unlawful. John Glenn (D-Ohio) and John McCain (R-Ariz.) will be chided for their poor judgment.
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