In 1991, John McCain was found to have exercised "poor judgment" in regards to his treatment of a 1989 investigation into Charles Keating and the Lincoln Savings and Loan Association. McCain and four other senators, together called The Keating Five, were accused of interfering with the investigation. The investigation looked into the failing financial institution, its investment practices and its chairman Charles Keating. Keating was later found guilty of corruption in his leadership of the institution, and sentenced to five years in jail.
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Fast Facts
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Members of the Keating Five
Alan Cranston, Dennis DeConcini, John Glenn, John McCain, Donald Riegle Jr
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Fact:
Cranston, DeConcini and Reigle were found to have acted improperly and substantially interfered with the investigation
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Fact:
Glenn and McCain were found to have exercised "poor judgment"
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Fact:
Failure of Lincoln Savings and Loan cost the taxpayers about $2.6 billionThe Seattle Times: Revisiting McCain's Keating 5 history (September 4, 2008)
