- The Keating Five were five United States Senators accused
of corruption in 1989, igniting a major political scandal as part of the
larger Savings and Loan crisis of the late 1980s and early 1990s. The five
senators, Alan Cranston D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH),
John McCain (R-AZ), and Donald W. Riegle (D-MI), were accused of improperly
aiding Charles H. Keating, Jr., chairman of the failed Lincoln Savings
and Loan Association, which was the target of an investigation by the Federal
Home Loan Bank Board (FHLBB).
- After a lengthy investigation, the Senate Ethics Committee
determined in 1991 that Alan Cranston, Dennis DeConcini, and Donald Riegle
had substantially and improperly interfered with the FHLBB in its investigation
of Lincoln Savings. Senators John Glenn and John McCain were cleared of
having acted improperly.
- All five of the senators involved served out their terms.
Only Glenn and McCain ran for re-election, and they were both re-elected.