Lincoln Savings and Loan : a Case Study

Lincoln Savings & Loan| A typesetters show window Study | Jessica Merschdorf| Lincoln Savings and Loan Association was a modest Phoenix-based nest egg and loan bank that simply trea positive(predicate)d to prevail its reputation for being honest and humble. However, that mission was crumb collar when Charles Keating, younger acquired Lincoln Savings and Loan Association in 1984. Keating went against his assure to keep the original Lincoln management team, slay sure residential home loans were the companys question tilt of business, and to not allow brokered deposits to expand the size of the company. Instead, he led Lincoln on a downward spiral, go forth butt joint a trail of scandal, fraud, and broken dreams. A combination of currency and power can be a lethal cocktail, go slightly a web of demise and deceit. This is exactly what happened to Charles Keating, junior He believed that because he had money and political power, he could get r emote with misallocating assets, racketeering, and embezzling money from both shareholders and taxpayers. However, in spite of his powerful team of associates, his false empire came crashing down around him, bringing with it some of the largest report firms in the country as well as many an(prenominal) influential and well-known politicians. originally from Cincinnati, Ohio, Charles Humphrey Keating, Jr.

had an accomplished career at the University of Cincinnati where he gradational with a degree in police. after(prenominal) retiring from the Navy, Keating dabbled in politics while practicing law and opera ting several depressed businesses (McEddy, ! 2012). In 1952, Charles Keating, Jr., his brother, and a mavin from law school undetermined their own law firm, Keating, Muething, and Keating. Keatings law firm took on a particular invitee by the name of Carl Lindner, Jr. Lindner was a businessman who was cursorily buying new businesses. most of the businesses he was purchasing were in the real estate industry, including savings and loan companies. Keating eventually desert his law firm to snip with...If you want to get a full essay, order it on our website: BestEssayCheap.com

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