Word: lincolnisms
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...prompted dozens of contractors to admit that they too had been pressured by M.D.C. into making similar donations. "We were told that Mizel wanted to look good," said a major contractor who gave $40,000 to various campaigns at M.D.C.'s orders. "The money came back to us from Lincoln Savings and Silverado...
...Drexel Burnham Lambert, and carried out elaborate deals to swap the bonds and other assets. Some of the bonds were used to artificially shore up ailing thrifts or were sold in multimillion-dollar lots to cooperating S&Ls. Federal investigators are giving particular scrutiny to Silverado, Charles Keating's Lincoln S&L in California, CenTrust Bank in Miami, and San Jacinto Savings in Texas. Each had extensive business dealings with Drexel and with one another...
...Governor Roy Romer, a Democrat. Lawyer Brownstein, nicknamed Mr. Fixit, was a top Democratic rainmaker who arranged a Denver fund raiser in 1987 for Michigan Senator Don Riegle; Riegle is one of the Senators called the Keating Five for having received sizable contributions from the scandal-tarred head of Lincoln Savings. Of $37,000 raised for Riegle, $10,000 came from 16 people connected to Silverado and M.D.C...
...Charles Keating commanded an estimated $100 million personal fortune, controlled $1 billion in financial assets and counted a handful of U.S. Senators among his powerful buddies. Last week he stood as a wretched symbol of the past decade's financial follies. After the former owner of California's bankrupt Lincoln Savings and Loan was indicted on 42 counts of criminal fraud and was unable to raise the $5 million bail, police handcuffed and jailed him. California alleges that Keating bilked investors who bought $250 million of now virtually worthless junk bonds. The state's charges were the latest...
...1980s. After deregulating the industry at the start of the decade, politicians looked the other way as reckless thrifts financed countless condominium blocks and office towers that now stand empty. Meanwhile, many questionable -- and sometimes criminal -- business practices were allowed to flourish. When bond salesmen for Keating's Lincoln Savings and Loan went to work, a memo advised them: "Always remember the weak, meek and ignorant are always good targets...