Keating Five

Definition

Five U.S. Senators that were allegedly part of the S&L Crisis in the late 80s to early 90s. These five Senators were Alan Cranston, Dennis DeConcini, John McCain, John Glenn and Donald Riegle. They are called the Keating Five because they received a collective total of $1.3 million from Charles H. Keating. Keating was the chairman of Lincoln Savings and Loan before it collapsed for improperly intervening with the S&L Crisis. His involvement with the Senators was revealed during the investigation of the company's collapse.
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