Web Search powered by YAHOO! SEARCH
10.07.2008 2:26 pm

The Keating Five is no big deal

St. Louis Post-Dispatch
  • Email this
  • Print this

People forget the outcome of the Keating 5 investigations!
There were 5 Senators investigated. 4 Democrats, and 1 Republican, John McCain. Three Senators were determined to have acted improperly… Cranston (D), Riegle (D) and DeConcini (D). The other two Senators were found to have done nothing improper and received no censure. Senators John Glenn (American Hero & Astronaut) and John McCain (American Hero and POW) were both criticized for poor judgment for attending meetings, but neither was considered to have had significant involvement, and neither was deemed to have committed impropriety, violation of law or violation of Senate Rules.
The 3 Senators censured did not seek re-election and their years in elected office were ended.
Senator John Glenn sought and won re-election, serving until he retired in 1999. Senator John McCain has been re-elected thru his present term and run for the presidency.
Interestingly… Senator DeConcini was later appointed by President Bill Clinton in February 1995 to the Board of Directors of the Federal Home Loan Mortgage Corporation.
From Wikipedia:
Cranston: reprimanded
The Senate Ethics Committee ruled that Cranston had acted improperly by interfering with the investigation by the FHLBB.[47] He had received more than a million dollars from Keating, had done more arm-twisting than the other Senators on Keating’s behalf, and was the only Senator officially rebuked by the Senate in this matter.[48]

Cranston was given the harshest penalty of all five Senators. In November of 1991, the Senate Ethics Committee voted unanimously to reprimand Cranston, instead of the more severe measure that was under consideration: censure by the full Senate. Extenuating circumstances that helped to save Cranston from censure were the fact that he was suffering from cancer, and that he had decided to not seek reelection, according to chair Heflin. The Ethics Committee took the unusual step of delivering its reprimand to Cranston during a formal session of the full Senate, with almost all 100 Senators present.[25]

Riegle and DeConcini: criticized for acting improperly
The Senate Ethics Committee ruled that Riegle and DeConcini had acted improperly by interfering with the investigation by the FHLBB.[47] Specifically, it said that even though neither of them violated any Senate rule, their conduct “gave the appearance of being improper.”[34] DeConcini was especially faulted for having taken the lead in the two meetings with the FHLBB.[34]

After the ruling, Riegle expressed contrition, saying “I certainly regret and accept responsibility [for actions that] did lend themselves to an appearance of a conflict of interest.”[34] DeConcini, however, said he would continue to be “aggressive” in representing his constituents in their affairs with federal regulators.[34]

DeConcini later charged that McCain had leaked to the press sensitive information about the investigation that came from some of the closed proceedings of the Ethics Committee.[7] McCain denied doing so, although one congressional investigator and several press reports concluded that McCain had been one of the main leakers during that time.[7][49]

Glenn and McCain: cleared of impropriety but criticized for poor judgment
The Senate Ethics Committee ruled that the involvement of Glenn in the scheme was minimal, and the charges against him were dropped.[47] He was only criticized by the Committee for “poor judgment.”[50]

The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him.[48][47] McCain was criticized by the Committee for exercising “poor judgment” when he met with the federal regulators on Keating’s behalf.[7] The report also said that McCain’s “actions were not improper nor attended with gross negligence and did not reach the level of requiring institutional action against him….Senator McCain has violated no law of the United States or specific Rule of the United States Senate.”[51]

Doug Edelman

St. Peters

6 comments

Comments are closed.

Doug–

You MAY be right. But sadly, this campaign has now deteriorated to a mud slinging contest on BOTH sides…….

Keating, Ayers, Troopergate, and the myriad of smear tactics have just gone TOO far. Lets get back to ISSUES. Both candidates SWORE they wouldn’t stoop to this level……. I’d like them both to swear off the dirty campaigning at tonight’s debate… but I fear I won’t see it happen

— HKCHAS
3:04 pm October 7th, 2008

Not a chance, HK.

Despite how much either side talks about keeping it clean, both crawled into the gutter long ago and I only see both getting dirtier in the next 28 or so days.

— Amazedbythelunacy
4:10 pm October 7th, 2008

You’re right Edelman. The problem si the oibs are so stupid that will believe this socialist pig in Obama will say. I listen to Mark Levin Show and he had Bob Bennett on who was investigating this scandal. He wrote a book on it called In The Ring. Bennet is not a friend of McCain and he is a democrat. He has said he found nothing improper McCain did while being associated with Keating. But do you this loudmouth bastard Obama will bring that up. Obama has lied time and time again on everything he has about ranging about not hearing any anti-Semitic or anti-American sermons from his pastor of 20 years Rev, Wright, or not knowing Willaim Ayers that well despite sitting on the board with him for a few years. And the libs are dumb enough to believe anything this radical and socialist nominee ahs to say. They are pathetic.

CHKAS, The mud slinging started with Obama. You don’t think Obama doesn’t have anything to do with the investigation into Troopergate. That’s a good one.

— John
8:18 pm October 7th, 2008

Yes, because Obama is omniscient. He somehow knew ahead of time that McCain was going to pick Palin, and started the bipartisan investigation long before Palin was picked as the VP candidate. It is still being worked out how Obama managed to convince Palin to fire somebody who refused fire her ex-brother-in-law.

Or perhaps McCain made a poor choice with a person under an active ethics violation….

— Simian
6:15 am October 8th, 2008

John,

“Loudmouthed BXXXXXX Obama”.

Really!! Are you an angry Man John?? Could Obama be smarter than you??
Is it because he is Black or the fact that he is going to Win??
Calm down and Have a Great Day!

— debrasgd3
12:15 pm October 8th, 2008

http://www.familysecuritymatters.org/publications/id.1445/pub_detail.asp)

See if you can read this and remain unaffected!

— edeldoug
10:04 am October 16th, 2008