Charles Keating's Techniques Were Replicated by Those Who Helped Trigger the 2008 Financial Collapse
Charles H Keating Jr. is remembered not only as the most notorious figure of the savings & loan crisis that swept the nation in the late 1980s - and as the namesake of the infamous Keating Five political scandal - but also as the fraudster whose techniques were replicated by those who helped trigger the 2008 financial collapse and Great Recession.
Dennis Brack/Newscom Charles Keating Jr. at a House of Representatives hearing on the Lincoln Federal Savings and Loan scandal.
Keating, who pleaded guilty to federal bankruptcy-fraud charges in 1999 after earlier state and federal criminal convictions were overturned on appeal, died March 31 at age 90. He served four years in a Tucson federal prison, where he (a competitive swimmer himself in his youth) watched on television as his grandson, Gary Hall Jr., won Olympic gold swimming metals during the 1996 Atlanta Games.More »