Inouye Says ‘Keating Five’ Just Tried to Aid Constituent
Sen. Daniel K. Inouye (D-Hawaii), making an unusual appearance as a character witness Monday, said that the “Keating Five” are guilty only of fighting for a constituent with “vigor and aggressiveness.”
He told the Ethics Committee: “The political realities of life dictate (that) whatever we do should please our constituents.” If Lincoln Savings & Loan had not failed, “these men would be heroes to their constituents . . . . Today, they are attacked because the endeavor failed.”
The committee is investigating whether five senators acted improperly by intervening with regulators on behalf of Lincoln’s owner, Charles H. Keating Jr., who gave them $1.3 million for campaigns and voter registration drives. The five are Alan Cranston (D-Calif.), Dennis DeConcini (D-Ariz.), John Glenn (D-Ohio), John McCain (R-Ariz.) and Donald W. Riegle Jr. (D-Mich.).
Lincoln’s insolvency is expected to cost taxpayers $2 billion, the largest individual collapse among the hundreds of failed thrifts.
“I have never found (the five senators) wanting in honesty and integrity,” Inouye said.
Inouye was invited to testify by James Hamilton, DeConcini’s lawyer.
A grateful DeConcini came close to tears. “Sen. Inouye puts a lump in my throat,” DeConcini said to a group of reporters.
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