BANKING
From Times Staff and Wire Reports
Wanted Lincoln Seized in 1986, Regulator Testifies: William K. Black, a top federal thrift regulator, testified that in the summer of 1986, he agreed with certain federal examiners that Lincoln Saving & Loan’s risky ventures and overall condition were bad enough to warrant putting the Irvine institution into conservatorship. Testifying in the state securities fraud prosecution of Lincoln owner Charles H. Keating Jr., Black admitted on cross-examination, however, that he had nothing to do with the federal examination of Lincoln. He said he based his opinion on his review of reports from examiners and summaries they prepared of Lincoln’s response to regulatory concerns.
