Tuesday, July 10, 2012

CHARLES KEATING 19 years ago

sentencing hearing of Charles Keating drawn by Bill Robles
Charles Keating  was a major player in the savings and loan crisis of the late 1980's and early 90's.  Keating was a banker who ran American Continental/Lincoln Savings and Loan which went bankrupt. Many investors lost their life savings.   His involvement with 5 US Senators, dubbed the Keating Five ignited a huge scandal.
Story link
http://www.nytimes.com/1993/07/09/business/keating-sentence-12-1-2-years.html


Joseph W. Cotchett who represented the bondholders had represented years earlier the Los Angles Ram football team and owner Georgia Frontiere during the lawsuit of Al Davis and the Raiders vs the NFL. Both the Raiders and the Rams wanted to move their teams, and now, LA has no football team and the Raiders are back in Oakland. 

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