Charles Humphrey Keating Jr. (born December 4, 1923 in Cincinnati, Ohio) is an American lawyer, politician and banker. In 1999, he was convicted of fraud as a result of his central involvement in the savings and loan scandal of 1989. He is also noted as a vehement anti-pornography campaigner. Image File history File links Unbalanced_scales. ... Charles Keating is the name of: Charles Keating (b. ... is the 338th day of the year (339th in leap years) in the Gregorian calendar. ... Year 1923 (MCMXXIII) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... Cincinnati redirects here. ... The Savings and Loan crisis of the 1980s was a wave of savings and loan failures in the USA, caused by mismanagement, rising interest rates, failed speculation and, in some cases, fraud. ... Porn redirects here. ...

Early life, education and the war

Keating graduated from St. Xavier High School in 1941. After one semester at the University of Cincinnati, he joined the Naval Air Corps in 1943 and was trained as fighter pilot, but World War II ended before he could be deployed. Subsequently he went back to college and received a law degree in 1948 from the University of Cincinnati. He became a founding partner of the Cincinnati law firm Keating, Muething & Klekamp. Together with his wife Marie Elaine, he has five daughters and a son. His brother, William J. Keating, was a Republican Congressman from Ohio. Saint Xavier High School (often abbreviated St. ... The University of Cincinnati is a coeducational public research university in Cincinnati, Ohio. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... William John Keating (born March 30, 1927, in Cincinnati, Ohio) was an American politician of the Republican party. ...

Photo:http://www.crimelibrary.com/graphics/photos/notorious_murders/celebrity/larry_flynt/Charles-H-Keating-Jr200.jpg

Swimming

In the 1940s, Charles Keating was a champion swimmer, winning the 1946 NCAA 200 yard butterfly competition, the first ever national championship for the University of Cincinnati. He is a member of the University of Cincinnati's athletic hall of fame. His son, Charles Keating III, swam in the 1976 Olympics, and his grandson Gary Hall Jr. competed in three Olympics and won 10 medals. Charles Keating has been a long-time supporter of U.S. swimming and in the early 1970s donated a large sum of money to St. Xavier High School in Cincinnati to build a state-of-the-art competition pool. St. Xavier named the Keating Natatorium after Keating, its major benefactor. Swimmer redirects here. ... NCAA redirects here. ... The butterfly, (fly for short) is a swimming stroke swum on the breast, with both arms moving simultaneously. ... The University of Cincinnati is a coeducational public research university in Cincinnati, Ohio. ... The 1976 Summer Olympics, officially known as the Games of the XXI Olympiad, were celebrated in 1976 in Montreal, Quebec. ... Gary Hall Jr. ... Saint Xavier High School (often abbreviated St. ...

Anti-pornography efforts

In the late 1950s, Keating founded the Cincinnati anti-pornography organization Citizens for Decent Literature, later Citizens for Decency through Law. In 1960 he testified against pornography before Congress. Type Bicameral Houses Senate House of Representatives President of the Senate President pro tempore Dick Cheney, (R) since January 20, 2001 Robert C. Byrd, (D) since January 4, 2007 Speaker of the House Nancy Pelosi, (D) since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political...

In 1964 – 1965, he produced the movie Perversion for Profit featuring announcer George Putnam. It was a survey of then-available pornography, and an attempt to link pornography to the decline of culture and to the depravity of youth. George Putnam in Perversion for Profit Perversion for Profit is a 1965 propaganda film financed by Charles Keating and narrated by George Putnam. ... George Putnam (born July 14, 1914 in Breckenridge, Minnesota) is an American television news reporter and talk show host. ...

In 1969, President Richard Nixon appointed Keating to the President's commission on pornography, which had been begun under Nixon's predecessor, Lyndon B. Johnson. Keating unsuccessfully attempted to stop publication of the commission's rather liberal recommendations with a restraining order. Failing in that effort, he filed a dissenting report, stating "One can consult all the experts he chooses, can write reports, make studies, etc., but the fact that obscenity corrupts lies within the common sense, the reason, and the logic of every man." Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      For other uses, see President of the United States (disambiguation). ... Nixon redirects here. ... LBJ redirects here. ... An injunction is an equitable remedy in the form of a court order that either prohibits or compels (enjoins or restrains) a party from continuing a particular activity. ...

In 1971, Keating unsuccessfully tried to stop the showing in Cincinnati of the film Vixen!, produced by film-maker Russ Meyer. Keating was also instrumental in the ineffective obscenity prosecution of pornographer Larry Flynt in 1976 in Cincinnati. In the 1996 Flynt biopic The People vs. Larry Flynt, he was portrayed by actor James Cromwell. Vixen! is a 1968 satiric melodrama sexploitation film directed by cult filmmaker Russ Meyer from a script by Meyer and Anthony James Ryan, and starring Erica Gavin. ... For the baseball player, see Russ Meyer (baseball player). ... Obscenity in Latin obscenus, meaning foul, repulsive, detestable, (possibly derived from ob caenum, literally from filth). The term is most often used in a legal context to describe expressions (words, images, actions) that offend the prevalent sexual morality of the time. ... Larry Flynt in 2007 Larry Claxton Flynt, Jr. ... Cincinnati, Ohio viewed from the SW, across the Ohio River from Kentucky. ... A biographical film or biopic is a film about a particular person or group of people, based on events that actually happened. ... The People vs. ... For Doris Dukes first husband, see James H.R. Cromwell. ...

He also appears in the 2005 documentary Inside Deep Throat. Promotional poster for Inside Deep Throat Inside Deep Throat is a 2005 documentary about the 1972 pornographic film Deep Throat and its effects on American society. ...

Failure of Saving & Loan, the Keating Five

In 1972, Charles Keating began to work for American Financial Corporation, a company involved in insurance and banking. Four years later he moved to Phoenix, Arizona to run the real estate firm American Continental Corporation, a spin-off of American Financial Corp. In 1984, American Continental Corporation bought Lincoln Savings. Such savings and loan associations had been deregulated in the early 1980s, allowing them the opportunity to make highly risky investments with their depositors’ money, an opportunity of which Keating took advantage. American Financial Group Incorporated is a holding company based in Cincinnati, Ohio. ... Nickname: Location in Maricopa County and the state of Arizona Coordinates: , Country State County Maricopa Incorporated February 25, 1881 Government  - Type Council-Manager  - Mayor Phil Gordon (D) Area  - City  515. ... ‹ The template below (Expand) is being considered for deletion. ... A savings and loan association is a financial institution which specializes in accepting savings deposits and making mortgage loans. ... Deregulation is the process by which governments remove, reduce, or simplify restrictions on business and individuals in order to (in theory) encourage the efficient operation of markets. ...

Some regulators noted the danger posed by these deregulations and pushed for more oversight, but Congress refused. This may be due, in part, to the Keating Five, five Senators — Dennis DeConcini, Alan Cranston, John Glenn, Don Riegle and John McCain — who had received, for both themselves and for groups they supported, well over $1 million from Keating in the 1980s as favors and political contributions.^[1] They later met twice with regulators who were investigating American Continental Corporation, in an attempt to end the investigation. (In 1991, they would be rebuked to various degrees by the Senate Ethics Committee.)^[2] Type Bicameral Houses Senate House of Representatives President of the Senate President pro tempore Dick Cheney, (R) since January 20, 2001 Robert C. Byrd, (D) since January 4, 2007 Speaker of the House Nancy Pelosi, (D) since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political... The Keating Five (or Keating Five Scandal) refers to a Congressional scandal related to the collapse of most of the Savings and Loan institutions in the United States in the late 1980s. ... Type Upper House President of the Senate Richard B. Cheney, R since January 20, 2001 President pro tempore Robert C. Byrd, D since January 4, 2007 Members 100 Political groups Democratic Party Republican Party Last elections November 7, 2006 Meeting place Senate Chamber United States Capitol Washington, DC United States... Dennis DeConcini Credited to the United States Senate Historical Office Dennis Webster DeConcini (born May 8, 1937, in Tucson) is a former Democratic U.S. Senator from Arizona. ... Alan MacGregor Cranston (June 19, 1914 – December 31, 2000) was a U.S. journalist and politician. ... For other persons named John Glenn, see John Glenn (disambiguation). ... Donald Wayne Riegle Jr. ... McCain redirects here. ... The U.S. Senate Select Committee on Ethics is a select committee of the United States Senate charged with dealing with matters related to senatorial ethics. ...

In 1985, Keating hired Alan Greenspan as an economic consultant, in an unsuccessful effort to convince an oversight agency to exempt Lincoln Savings from certain regulations. Greenspan delivered a favorable report, writing that Lincoln Savings was “a financially strong institution that presents no foreseeable risk to depositors or the government.” (Greenspan produced similar favorable reports on numerous other banks that also failed soon after.) ^[3] Squalltoonix (born March 6, 1926 in New York City) is an American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. ...

In 1989, American Continental Corporation, the parent of Lincoln Savings, went bankrupt. More than 21,000 investors, most of them elderly, lost their life savings (in total about $285 million.) This occurred largely because they held securities backed by the parent company rather than deposits in the federally-insured institution — a distinction apparently lost on many if not most depositors until it was too late. The federal government covered almost $3 billion of Lincoln’s losses when it seized the institution. Many creditors were made whole, and the government then attempted to liquidate the seized assets through its Resolution Trust Corporation, often at pennies on the dollar compared to what the property had allegedly been worth and the valuation at which loans against it had been made. The Resolution Trust Corporation was a US government owned asset management company mandated to sell assets (primarily real estate) that had been held as collateral against most of the bad loans of savings and loan associations. ...

In 1989, Keating, when subpoenaed to testify before the House Banking Committee, invoked his right against self-incrimination under the Fifth Amendment to the United States Constitution.^[4][5] Amendment V (the Fifth Amendment) of the United States Constitution, which is part of the Bill of Rights, is related to legal procedure. ...

Legal consequences

Keating blamed the government regulators for the failure of Lincoln Savings and filed suit in order to regain control over the bank. The suit was dismissed in August 1990, with the judge calling the seizure fully justified because of the looting of the institution by Keating and his associates.

In September 1990, Keating was criminally charged with having duped Lincoln's customers into buying worthless junk bonds of American Continental Corporation; he was convicted in state court in 1992 of fraud, racketeering, and conspiracy and received a 10 year prison sentence. In January 1993, a federal conviction followed, with a 12 and a half year sentence. He spent four and a half years in prison, but convictions were eventually overturned. Thereafter, on the eve of the retrial on the federal charges, Keating pled guilty to certain felony charges in return for a sentence of time served. High yield debt (non-investment grade or junk bond) is a business term referring to a corporate debt instrument, usually a bond, that has a higher yield (compared to investment grade debt) because of a high perceived credit risk (default risk). ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Organized crime is crime carried out systematically by formal criminal organizations. ... In the criminal law, a conspiracy is an agreement between natural persons to break the law at some time in the future, and, in some cases, with at least one overt act in furtherance of that agreement. ...

In the 1980s, Keating had donated some $1,250,000 to Mother Teresa; during his state trial, she wrote a letter on his behalf to presiding Judge Lance Ito, saying that she was not informed about his business but she knew him as a man who was generous toward the poor. Mother Teresa (born Agnes Gonxha Bojaxhiu IPA: ) (August 26, 1910 – September 5, 1997) was a Roman Catholic nun who founded the Missionaries of Charity and won the Nobel Peace Prize in 1979 for her humanitarian work. ... Lance Allan Ito (born August 2, 1950 in Los Angeles, California) is a Japanese-American Los Angeles County Superior Court judge, best known for his role in the O. J. Simpson murder trial. ...

Various government agencies and private parties initiated civil lawsuits against Keating. One federal class action case involving 20,000 plaintiffs resulted in a $3.3 billion judgment (later reduced to $1.6 billion) against him and his former companies, for having defrauded investors. In law, a class action is an equitable procedural device used in litigation for determining the rights of and remedies, if any, for large numbers of people whose cases involve common questions of law and fact. ...

Another case filed by the U.S. Securities and Exchange Commission was settled in 1994. Keating claimed to be bankrupt but agreed to repay millions should any hidden assets turn up. A third case filed by the Resolution Trust Corporation resulted in a summary judgment of $4.3 billion against Keating and his wife in 1994, the largest judgment ever against a private person, The judgment was overturned on appeal in 1996. The U.S. Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ... Summary judgment is a legal term which means that a court has made a determination (a judgment) without a full trial. ...

Also in 1996, the 9th U.S. Circuit Court of Appeals in San Francisco ruled that the state trial judge Lance Ito had mistakenly allowed the jury to convict Keating without instructing them to determine whether he intended to defraud investors. Thus the conviction was overturned; the U.S. Supreme Court refused to hear the government's appeal in October 2000, and state prosecutors declined to move for a retrial. The U.S. Court of Appeals for the Ninth Circuit is a federal court with appellate jurisdiction over the following United States district courts: District of Alaska District of Arizona Central, Eastern, Northern, and Southern Districts of California District of Guam District of Hawaii District of Idaho District of Montana... This page is a candidate for speedy deletion. ... Lance Allan Ito (born August 2, 1950 in Los Angeles, California) is a Japanese-American Los Angeles County Superior Court judge, best known for his role in the O. J. Simpson murder trial. ... The Supreme Court Building, Washington, D.C. The Supreme Court Building, Washington, D.C., (large image) The Supreme Court of the United States, located in Washington, D.C., is the highest court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States... For other uses, see October (disambiguation). ... Year 2000 (MM) was a leap year starting on Saturday. ...

In 1996, the same Court of Appeals had ruled that some of the jurors in the federal case might have been influenced by their knowledge of the state case and ordered the trial judge to investigate the matter. The trial judge then granted a new trial. It has been suggested that this article or section be merged with Jury. ...

In 1996, on the eve of the retrial of the federal case, Keating entered a plea agreement -- he admitted to having committed bankruptcy fraud by extracting $1 million from American Financial Corp. while already anticipating the collapse that happened weeks later. In return, the federal prosecutors dropped all other charges against him and his son, Charles Keating III. He was sentenced to the four years he had already served.^[6] A plea bargain (also plea agreement, plea deal or copping a plea) is an agreement in a criminal case in which a prosecutor and a defendant arrange to settle the case against the defendant. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ...

Keating remains essentially unrepentant, maintaining that not his mistakes but regulators' actions were ultimately responsible for the losses. He repeated these claims in an interview in 2006. The 2004 book The Savings and Loan Crisis: Lessons from a Regulatory Failure makes similar claims and presents Keating in a favorable light.^[7]

In an April 2008 opinion piece titled "The Keating Five Legacy," William K. Black, Associate Professor of Law and Economics at the University of Missouri, Kansas City, presents his views about Keating (among others). Black was counsel to the Federal Home Loan Bank Board during the savings and loan crisis of the 1980s and was a whistleblower in the Keating Five scandal. His book on the crisis "The Best Way to Rob a Bank Is to Own One" was published in 2005 by the University of Texas Press.^[8] The University of Missouri–Kansas City (often referred to as UMKC) is an institution of higher learning located in Kansas City, Missouri, USA. Its main campus is in Kansas Citys Rockhill neighborhood east of the Country Club Plaza. ... Poster in support of whistleblower legislation A whistleblower is an employee, former employee, or member of an organization, especially a business or government agency, who reports misconduct to people or entities that have the power and presumed willingness to take corrective action. ... The University of Texas Press is a university press that is part of the University of Texas at Austin. ...

Some who lost their life savings committed suicide. When Charles Keating was prematurely released from jail, the living victims and family members of those who took their own lives felt as if they had been double crossed again.^{[weasel words][original research?]}

Notes