ABC Evening News for Thursday, Feb 16, 1989
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(Studio: Ted Koppel) President Bush's stmts. about risk-taking of savings and loan insts. recalled. Report introduced.
(NYC: John Martin) Case study of one S&L with powerful friends in DC featured; details given of government examiners' investigation of Lincoln Savings and Loan of California. Justice Department and Securities and Exchange Commission noted studying these chgs. [Chairperson of American Continental, which owns Lincoln, Charles KEATING - disagrees with regulators findings.] Keating's challenge to Federal Home Loan Bank Bd., then led by Edwin Gray, noted. [GRAY - says Keating then tried to hire him.] Keating's financial contributions to campaigns. of Senators Alan Cranston, John McCain, Dennis DeConcini, John Glenn and Don. Riegle outlined on screen; their meeting with federal regulators involved in case noted. [KEATING - says Senators should help out in case of government abuse.] [McCAIN - says appearance of five Senators is disturbing to some people.] [RIEGLE - comments on appearance of conflict.] [Representative Henry GONZALEZ - comments on Lincoln affair.] Bank board's political appointees reported removing authority to regulate the bank in question. [Federal Home Loan Bank Bd. chairperson M. Danny WALL - says there were diverging views.] [GONZALEZ - says regulators and S&Ls entered into incestuous rel.] [KEATING - says he hopes to dispose of Lincoln.] Current status of Lincoln's high-risk investments reviewed. (Artist: Gerald Andrea)
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