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Keating Five

Shortly after his Lincoln Savings and Loan declared bankruptcy (with over $2 billion in excess liabilities), Charles Keating was asked whether he thought his various campaign contributions (to five key senators) had led to the passage of 'favorable' federal banking regulations. "I want to say in the most forceful way I can," Keating replied, "I certainly hope so!"

[Keating was later convicted of seventeen counts of fraud and racketeering and sentenced to ten years in prison. The five senators (the Keating five) were formally reprimanded by the Senate Ethics Committee for intervening on Keating's behalf.]

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