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Charles Keating
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Financier
    (December 4, 1923-March 31, 2014)
    Born in Cincinnati, Ohio
    Founded the law firm Keating, Muething & Klekamp
    Founded the anti-pornography organization Citizens for Decent Literature
    Ran Lincoln Savings and Loan
    Gave hundreds of thousands of dollars in contributions to the 'Keating Five': Senators John McCain, Dennis DeConcini, Alan Cranston, Donald Riegle and John Glenn
    Served four years in prison on fraud and corruption charges
    Along with Neil Bush, he emerged as the poster boy for the S&L debacle.
    To try to escape government regulation, he hired Alan Greenspan to write a report claiming that Lincoln was financially sound and posed no risk to its investors.
    He sold securities backed by Lincoln, falsely claiming that they were insured by the federal government like bank deposits.
    When Lincoln went under 21,000 investors lost their life savings.
    Asked if his contributions influenced the Keating Five, he replied, 'I certainly hope so.'
    He sued to regain control of Lincoln, but the judge ruled that the federal seizure of the S&L was fully justified by the looting of the bank by Keating and his associates (1990).
    He joined the Naval Air Corps during World War II.
    He won an NCAA swimming championship in the 200-meter butterfly (1946) and was inducted into the University of Cincinnati athletics hall of fame.
    He donated over a million dollars to Mother Theresa.
    His conviction was overturned on the grounds that Judge Lance Ito had failed to instruct jurors that they had to determine if Keating had intentionally defrauded investors.
    During his fraud trial, one disgruntled investor got close enough to slug him.

Credit: C. Fishel


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