CongressionalBadBoys.com | home | Keating 5 The Keating Five The savings and loan scandal of the 1980s, which cost American taxpayers billions of dollars, focused on five members of Congress who befriended and worked with savings and loan official Charles Keating.  In 1989, the Lincoln Savings and Loan Association in Irvine, California collapsed.  Its chairman was Charles H. Keating, Jr.  The former head of the Federal Home Loan Bank Board, Edwin J. Gray testified before Congress that several U.S. Senators were approaching him and asking him to back off the investigation of Keating.  These Senators, now known as the Keating Five, received a total of $1.3 million in campaign contributions from Keating.  The Keating Five are Alan Cranston (Democrat-California), Dennis DeConcini (Democrat-New Mexico), Don Riegle (Democrat-Michigan), John Glenn (Democrat-Ohio), and John McCain (Republican-Arizona). The Senate Ethics Committee investigated, concluding that Glenn and McCain were not involved in influence peddling.  Then in 1991, the Committee concluded that Cranston, DeConcini, and Riegle's activities constituted substantial interference with the FHLBB enforcement efforts.  The Committee recommended censure for Cranston, and a charge of "questionable conduct" for the other four.  Cranston, at age 80, decided not to run again for office;  DeConcini and Riegle served out their Senate terms through 1992;  Glenn easily won re-election, and McCain became the champion of campaign finance reform.   Source:  Wikipedia article on Keating Five. From left to right:  DeConcini, Cranston, Glenn, Riegle, McCain.