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Economy: Savings and Loans / Keating Five / Drexel Burnham Lambert #330445

CBS Evening News for Thursday, Nov 15, 1990
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(Studio: Dan Rather) Report introduced.

(Senate Ethics Committee: Bob Schieffer) Senate Ethics Committee hearing for "Keating Five," Senators John Glenn, John McCain, Dennis DeConcini, Donald Riegle and Alan Cranston, reported; details given of alleged associations with Lincoln Savings and Loan director Charles Keating. [Senators Howell HEFLIN, Trent LOTT, Ethics Committee special counsel Robert BENNETT, DeCONCINI, RIEGLE - comment.] Bennett noted saying McCain had done nothing improper.

(Studio: Dan Rather) Report introduced.

(New York: Ray Brady) Government's lawsuit against Drexel Burnham Lambert, Incorporated, for junk bond fraud examined; suit and Drexel's response quoted on screen; savings and loan "daisy chain" fraud illustrated on screen. [Representative James LEACH, author Stephen PIZZO - comment.]

(Studio: Dan Rather) Interview presented with Wall Street expert who foresaw junk bond and savings and loan disasters. ["Grant's Interest Rate Observer" James GRANT - discusses economy and lending industry.]

Brady, Ray;
Rather, Dan;
Schieffer, Bob

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