Charles H. Keating :: essays research papers

Charles H. Keating Jr. has been the focus of criminal investigations by the federal official Bureau of Investigation, the Internal Revenue Service, the Justice Department, The Securities and Exchange Commission, and the House Banking delegacy for a six-year shadow of the nations biggest nest egg-and loan debacle. The federal political sympathies proclaims that he fraudulently managed Californias Lincoln Savings into its closure, and in the process profited for himself and his family an estimated thirty-four million dollars. Consequently, taxpayers may suffer a sack of two billion dollars. The federal government is suing Keating, his family and associates for one billion dollars. condescension Keatings denial to the charges, evidence proves that his misconduct began since the early 1980s. Shockingly, Charles Keating worked for an extended tot of time without being investigated or caught. Keating did not have a very credible background, which should have led to some suspicion. About a disco biscuit ago, many incidents should have foreshadowed Keatings malicious intentions. At that point Keating was under the leadership of Carl Lindner at American Financial Corp., a city confused with interests in insurance and banking. In 1979 SEC, better known as the security system & Exchange Commission, cited Keating and other officials of the American Exchange Commission for failure to put out particular loan transactions with their employer. Keating, a national championship swimmer, be the University of Cincinnati on an athletic scholarship and continued in law school. along with help from his brother, Charles Keating founded the prominent Cincinnati law firm of Keating, Muething and Klekamp. In 1972 Keating abandoned the concern of law, turning to work for the publicity-shy multimillionaire Carl Linder. Lindner served as a guide and mentor in the life of Mr. Keating. Many similarities can be traced between the business entitle of these two men preeminently t hey both built their empires on savings and loans.1 Charles Keating exceeded Mr. Lindners expectations, which persuaded Mr. Lindner to extend an offer to the forty-eight year-old lawyer a opinion with American Financial in 1972 as the executive vice-president. Under Lindners supervision at American Financial in the mid-1970s, Keating found a resourceful strategy to raise money from the public without the interference of the surround Street underwriters. The success of this strategy resulted from sharp decline in meshing that Lindners company was experiencing. Keatings success revolved around him height fifty million dollars for American Financial from the public without using an underwriting syndicate.