Word: cranstone
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...California jail awaiting trial on charges that he misled investors in his bankrupt Lincoln Savings & Loan, whose failure will cost taxpayers $2 billion. Ten months into its investigation, the committee is still trying to decide whether at least three Democratic Senators -- Michigan's Donald Riegle, California's Alan Cranston and Arizona's Dennis DeConcini -- should be punished by the Senate. A battle of leaked documents was launched last week by insiders hoping to influence the decision...
According to one such document, Roger F. Martin, a former member of the Federal Home Loan Bank Board, which regulates S&Ls, told Senate investigators that Cranston called him at home late one night last spring and that DeConcini reached him the same way at 5:30 the next morning. Both had urged that Lincoln Savings be sold to an interested buyer rather than be shut down. Martin told the probers, "I have never, either before or since this incident, received a telephone call at home from any Senator or Representative regarding a board matter...
...Democratic Senator John Glenn of Ohio and Republican Senator John McCain of Arizona be cleared, for insufficient evidence, of accusations that they granted improper favors to former S&L owner Charles H. Keating Jr. That would leave Arizona's Dennis DeConcini, Michigan's Donald Riegle and California's Alan Cranston, all Democratic Senators. Keating and his associates contributed $1.4 million to the five men, who intervened on his behalf with federal regulators. The committee, which has heard from Glenn, McCain and DeConcini, is expected to vote this week on whether to continue investigating some or all of the Senators...
ISRAEL. Prime Minister Yitzhak Shamir told visiting U.S. Senator Alan Cranston of California last week, "I am sure that it will be easier to promote peace between Israel and the Arabs after the gulf crisis is over." Shamir did not explain his reasoning, but it is conceivable that Israel could be helped by a squelching of the implacable Saddam and by increased influence for the less hostile Saudis and Egyptians. On the other hand, the U.S. will be under greater pressure than ever from its Arab friends to lean on Israel for a solution to the eternal Palestinian problem...
...former President Jimmy Carter, then Senator Lowell Weicker and singer Stevie Wonder, would follow them to jail. Another 5,000 were arrested at South African consulates around the country. By that time the movement had developed powerful friends on Capitol Hill, including Kennedy and his fellow Democratic Senators Alan Cranston of California and Paul Simon of Illinois. They saw in the antiapartheid movement an opportunity to strike a blow against the otherwise unassailable Reagan...