Word: deconcini
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...normally garrulous financier had kept his mouth shut: the Senators who received a total of $1.3 million in contributions from Keating. The last time he was asked whether the money he gave to California's Alan Cranston, Michigan's Donald Riegle, Ohio's John Glenn and Arizona's Dennis DeConcini and John McCain had persuaded them to intervene with federal regulators on his behalf, Keating baldly declared, "I certainly hope so." Iowa Republican Congressman Jim Leach, one of the few members of the House Banking Committee who does not accept contributions from political action committees, says that if the allegations...
Keating, the Phoenix businessman who is accused of using Lincoln as a private casino, is emblematic of the nation's $300 billion-plus S & L disaster. But he has no dearth of accomplices. There are the so-called Keating Five -- Senators Dennis DeConcini and John McCain of Arizona, John Glenn of Ohio, Donald Riegle of Michigan and Alan Cranston of California -- who received $1.3 million in contributions from Keating and went to bat for him against federal regulators. The five sank deeper into trouble last week when the Senate ethics committee appointed outside counsel to investigate. The FBI also expanded...
Four of the five Senators met for an hour with FHLBB head Edwin Gray on April 2, 1987. In a letter written to McCain last May, Gray referred to this unprecedented intervention as "tantamount to an attempt to subvert the regulatory process," and subsequently branded DeConcini a "consummate liar" for not admitting that he attempted to cut a deal for Keating. His charge was buttressed when the Arizona Republic published a confidential memo prepared by DeConcini's staff for the meeting listing Keating's bargaining positions...
...April 9, 1987, all five Senators met with bank examiners summoned from San Francisco to DeConcini's office. DeConcini is quoted in notes from the meeting telling the examiners that "actions of yours could injure a constituent." Glenn said, "To be blunt, you should charge them or get off their backs." Riegle asked, "Where are the losses?" The federal banking agents pointed out that Lincoln was "flying blind on all of their different loans and investments," that there was no underwriting on most loans, that the bank's practices "violated the law, regulations and common sense" and that...
...What's wrong with this," DeConcini demanded, "if they're willing to clean up their act?" Replied the agent: "This is a ticking time bomb...