MAMEWorld Forums - Welcome to the War Room - Re: Can't come out for Biden in the general

>You left out his involvement with the Keating Five in the 80s.

Assuming this is accurate https://en.wikipedia.org/wiki/Keating_Five

I forgot about John Glenn being involved, but I definitely remember late CA and AZ senators: Alan Cranston (D), John McCain (R) being involved. Feinstein had taken Alan Cranston's senate seat a couple years later.

If Biden had any involvement in any way, fortunately he was no where near compared to other Democratic senators. The only way I can see Biden involved is if he had votes siding with other senators to allow regulations to be relaxed regarding S&L industries back then.

I was working for a temporary agency (spring 1992) to help out Resolution Trust Corp at one of the closed down S&Ls (Guardian Savings) in Huntington Beach, CA RTC was created to deal with cleaning up the criminal mess of Savings and Loans bailouts brought about by likes of Charles Keating and Neil Bush. My specific temporary job, unfortunately in the foreclosure department, was to help sort out financial documents and go through physical file folder records and hand to various departments so they can process what needed to be done at Guardian Savings S&L. Lincoln Trust was the biggest name that Charles Keating had ruined. There were other S&Ls that also went under, but Lincoln was the notable name.

I definitely recall some of the elderly scam victims when watching tv trying to confront Keating in the courts hallways. Keating tried to act as a victim himself like what Harvey Weinstein had recently been doing. The best part was watching on tv when LA county judge Lance Ito (the same judge involved with 1995 OJ criminal) had berated Charles Keating with overseeing sellers duping elderly clients into investing in worthless investments. When watching tv news videoclip of judge Lance Ito handed Charles Keating his sentence of 25 years in prison when slamming gavel and tv viewers could hear Charles Keating's young grandchildren who were in the courtroom audience crying, I was glad that there was some justice against Keating that was momentarily served by judge Lance Ito who was pissed off towards Keating's criminal actions.

Unfortunately Keating was able to get away within a few days on some technicality in which he did not have to be behind bars for very long. He got away with his crimes as almost all white collar criminals do when scamming elderly victims out of their money.

The S&L was more than just operations of providing unsecured loans to those that couldn't pay loans back, but also offering fraudulent financial investment options to earn money on worthless paper to elderly victims. I always think of James Garner's Rockford Files tv series episode in mid 1970s in an episode title of 'Profit and Loss' where actor Ned Beatty plays a CEO of Fiscal Dynamics. A 1970s variation of a hedge fund management corporation that was offering financial investments on worthless paper stocks. One of the better episodes that provided a glimpse of white collar crime in financial industries.

The best line of that tv series episode of 'Profit and Loss' was when the James Rockford character says to a LAPD police officer when arresting: James, Rocky, and Ned Beatty after conclusion of a car chase scene near end of the episode.

"...don't try to figure this out here, take everyone to jail first and figure it out from there because what went on here is far more complicated than you think."

Edited by gregf (03/15/20 12:38 AM)