Savings and Loan Senate Ethics Investigation

The committee ended eight weeks of hearings on the conduct of five
senators in the failure of the Lincoln Savings and Loan, a California
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The committee ended eight weeks of hearings on the conduct of five

senators in the failure of the Lincoln Savings and Loan, a California

banking institution. The senators were accused of accepting large

donations to their campaign funds from the head of the failed savings

and loan in return for interfering with and discouraging federal

regulators from investigating the financial dealings of Lincoln

Savings and Loan.

In the concluding arguments, special counsel Robert Bennett to the

ethics panel singled out Senators Cranston, DeConcini and Riegle as

being most responsible for preventing federal regulators from their

investigation of the savings and loan. The senators denied any

connections between campaign contributions and their actions

concerning the federal regulators, and they accused Mr. Bennett of

fabricating rules of ethical conduct to frame the senators.

Mr. DeConcini was the only senator to testify during the closing

arguments, saying that he intervened with regulators on behalf of the

employees of the savings and loan, not just Charles Keating, head of

Lincoln Savings and Loan.

The ethics committee retired to determine any actions it may take

against the senators, which could range from clearing the senators to

recommending the Senate vote to condemn their conduct. close

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Savings and Loan Senate Ethics Investigation

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Program ID:
15714-1
Category:
Senate Committee
Format:
Senate Committee
Location:
Washington, District of Columbia, United States
First Aired:
Jan 16, 1991
Last Aired:
Jan 20, 1991

Airing Details

  • Jan 16, 1991 | 9:41am EST | C-SPAN 1
  • Jan 16, 1991 | 2:32pm EST | C-SPAN 1
  • Jan 16, 1991 | 10:38pm EST | C-SPAN 2
  • Jan 20, 1991 | 11:53am EST | C-SPAN 2
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Savings and Loan Senate Ethics Investigation

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