A Legal Bank Robbery

While an S & L was looted, the federal watchdog stood by

At first nobody noticed how much had disappeared because heists in high places occur without ski masks or guns. But now the House Banking Committee, the thousands of duped bondholders and the public have caught on: to the empty vault at California's Lincoln Savings and Loan, to the perfidy of its owner Charles Keating and to the complicity of the Government. Says Banking Committee member Jim Leach of Iowa: "Keating is at fault because he is a bank robber, but we in Washington made it, in part, a legal bank robbery."

Keating, the Phoenix businessman who is accused of using Lincoln...

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