keating five

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keating five - Cranston only Keating Five member in trouble...
Cranston only Keating Five member in trouble WASHINGTON (API The sen ate Ethics Committee says Sen. Alan Cranston may have committed committed major ethics violations, but no action is needed against the four other members of the Keating Five. Cranston, D-Calif., D-Calif., D-Calif., is fighting the allegations, while his colleagues are trumpeting the conclusion of their cases. The six-member six-member six-member committee's unanimous report Wednesday set the stage for possible censure of Cranston by the full Senate. The panel said it found "substantial "substantial credible evidence" that "Senator "Senator Cranston engaged . in an impermissible pattern of conduct in which fund-raising fund-raising fund-raising and official activities were substantially linked." The committee, even while ending ending the four other cases, said Sens. Donald W. Riegle Jr., D-Mich., D-Mich., D-Mich., and Dennis DeConcini, D-Ariz., D-Ariz., D-Ariz., "gave the appearance of being improper" in their actions on behalf of former savings and loan owner Charles H. Keating Jr. Sens. John Glenn, D-Ohio, D-Ohio, D-Ohio, and John McCain, R-Ariz., R-Ariz., R-Ariz., "exercised poor judgment," the committee concluded. But it said the two "violated "violated no law ... or specific rule" of the Senate. The panel did not repeat such a statement for Riegle and DeConcini, DeConcini, concluding instead that "no further action is warranted." Keating and his. associates donated $1.3 million to the campaigns campaigns and political causes of the Cve senators, most of it while the Federal Home Loan Bank Board was conducting its examination of Keating's now-failed now-failed now-failed Lincoln Savings Savings and Loan of Irvine, Calif. Lincoln was seized by federal regulators in April 1989 at a poten-. poten-. poten-. tial cost to taxpayers of more than $2 billion to cover insured deposits. The 14-month 14-month 14-month investigation was triggered by a complaint from the public interest group Common Cause. Its president, Fred Wer-theimer, Wer-theimer, Wer-theimer, called the decision "a damning indictment of the committee" committee" because "all five senators in the Keating affair are culpable." The Ethics Committee findings against Cranston constitute a required statement detailing the specific charges against him similar to an indictment He now has a chance to respond and can request a hearing. Cranston who says won't seek re-election re-election re-election next year gave only an opening statement during two months of public hearings in the case. He did not testify because he was being treated for prostate cancer cancer in California. Asked if Cranston would continue continue to fight the allegations, his lawyer, William Taylor III, said: "You can be sure of that" The committee said Cranston "may have engaged in improper conduct that may reflect upon the Senate" a catchall charge covering covering general ethical misconduct After Cranston responds, the committee committee can recommend action by the full Senate to censure the chamber's former assistant majority majority .sader. Cranston said, "It's clear that I have been unfairly singled out despite the evidence in all five cases." McCain repeated statements that his intervention with regulators regulators on Keating's behalf was "a mistake." mistake." But, he said, "Clearly, 'no improper conduct' is what is important important here, and I view that as full exoneration." DO SEN. ALAN CRANSTON

Clipped from
  1. The Newark Advocate,
  2. 28 Feb 1991, Thu,
  3. Page 5

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  • keating five

    kees08 – 13 Mar 2018

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