Charles H. Keating Jr., the infamous financier behind the biggest savings and loan disaster of the 1980s, died Tuesday. He was 90.
Keating ran the Phoenix-based American Continental Corp., in addition its subsidiary Lincoln Savings & Loan. Many of the depositors at Lincoln Savings & Loan, especially older savers and naive investors, were persuaded to cash in their federally insured deposits for $256 million worth of uninsured American Continental junk bonds. Keating was convicted in 1993 of swindling those customers and raiding the thrift. The failure of Lincoln Savings & Loan cost the government $3.4 billion.
It also tainted the political careers of the Keating Five — Sens. John McCain (R-Ariz.), John Glenn (D-Ohio), Alan Cranston (D-Calif.), Donald Riegle (D-Mich.), and Dennis DeConcini (D-Ariz.) — all significant recipients of Keating's campaign largesse who lobbied to get federal regulators off his back as Lincoln and American Continental teetered toward insolvency.
Keating's convictions were later overturned, and he pleaded guilty to bankruptcy fraud in Phoenix. He served four-and-a-half years in prison. While Keating is best known for the savings and loan disaster, he garnered attention in other ways earlier in life; he was a college swimming champion at the University of Cincinnati and an anti-pornography activist. Read more at The New York Times. --Catherine Garcia
— azcentral (@azcentral) April 2, 2014
Sen. Marco Rubio (R-Fla.) maintained Friday that he'll support the Republican presidential nominee, even if that somebody happens to be Donald Trump, The Palm Beach Post reports.
In fact, Rubio might be more impressed with the billionaire business mogul than usual, saying his "performance has improved significantly" recently.
Republican presidential frontrunner Donald Trump was none too thrilled Saturday with the protesters who blocked his way into California's Republican convention the day before:
The "protesters" in California were thugs and criminals. Many are professionals. They should be dealt with strongly by law enforcement!
— Donald J. Trump (@realDonaldTrump) April 30, 2016
Leave it to Trump to make an off-color joke about the incident once he made it inside the hotel Friday.
Jimmy Fallon has been singing bits and pieces of Styx's "Too Much Time on My Hands" on The Tonight Show for days. On Friday, he and actor Paul Rudd took the obsession to its natural conclusion, creating a shot-by-shot remake of the '80s music video. The end result is sufficiently goofy. Take a look below. Julie Kliegman
Hundreds of activists stormed Iraq's parliament building Saturday in support of Shiite cleric Muqtada al-Sadr, who had accused Iraqi politicians of corruption, CBS News reports.
The demonstrators climbed over blast walls in Baghdad's Green Zone, which houses most of the country's ministries and foreign embassies, after parliament couldn't reach quorum to hold a session. The protesters broke furniture, chanted, and waved Iraqi flags.
San Francisco Police Chief Gregory Suhr released nine pages of racist and homophobic text messages sent between officers Friday and ordered all officers to undergo anti-bias training, The New York Times reports.
"We have nothing to hide," Suhr said of his 2,000-member force. "These are the actions of a few."
The messages, which disparaged blacks, Latinos, South Asians, and LGBT people, were found as part of an investigation into a rape charge against one of the officers.
The head of an evangelical legal organization has pledged to carry a gun into Target's bathrooms to defend against transgender women. Liberty Counsel President Anita Staver is calling for a boycott of the retail chain after it announced that it will allow patrons to use the restroom that corresponds to their gender identity, The Huffington Post reports. Staver tweeted the following:
— Anita Staver (@AnitaStaver) April 22, 2016
Staver later claimed she always brings guns into public restrooms.