Charles Keating
April 14, 1989: The U.S. government seizes the Lincoln Savings and Loan Association, of Irvine, California, run by Charles Keating. He eventually goes to jail, as part of the massive 1980s Savings and Loan Crisis which costs U.S. taxpayers nearly $200 billion in bailouts, and many people their life savings.
Five Senators were accused of improperly aiding Keating. Alan Cranston of California, Dennis DeConcini of Arizona and Don Riegle of Michigan, all Democrats, chose not to run for re-election. The other two rode their hero credentials to stay in office: Former astronaut John Glenn, Democrat of Ohio; and former prisoner of war John McCain, Republican of Arizona.
In 1991, the Senate Ethics Committee determined in 1991 that Cranston, DeConcini, and Riegle had substantially and improperly interfered with the Federal Home Loan Bank Board's investigation of Lincoln Savings, with Cranston receiving a formal reprimand. Senators Glenn and McCain were cleared of having acted improperly, but were criticized for having exercised "poor judgment."
The S&L scandal managed to do what the stock market crash of 1987 did not: It became a factor in sending America into a recession, which lasted from 1990 to 1993.
McCain ran for President twice, and his role in the Keating Five was not a major factor on either occasion. Certainly, it was not one of the reasons that either George W. Bush defeated him in the Republican Primaries in 2000, or Barack Obama defeated him in the general election in 2008.
Cranston in 2000, Keating in 2014, Glenn in 2016, McCain in 2018. As of April 14, 2022, DeConcini and Riegle are still alive. (UPDATE: Riegle died in 2026, leaving DeConcini as the last survivor.)
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April 14, 1989 was a Friday. These Major League Baseball games were played:
* The New York Mets beat the St. Louis Cardinals, 9-4 at Busch Memorial Stadium in St. Louis. David Cone went the distance for the win. Mookie Wilson went 3-for-5 with a home run and 2 RBIs.
* The Chicago Cubs beat the Philadelphia Phillies, 6-4 at Veterans Stadium in Philadelphia. Mike Schmidt went 0-for-4, and was soon to announce his retirement.
* The Boston Red Sox beat the Baltimore Orioles, 10-7 at Fenway Park in Boston. Dwight Evans went 3-for-4 with 3 RBIs. Phil Bradley hit a home run for the O's, and Cal Ripken went 0-for-2 with 2 walks.
* The Toronto Blue Jays beat the Kansas City Royals, 3-0 at Exhibition Stadium in Toronto. George Brett went 0-for-3.
* The Montreal Expos beat the Pittsburgh Pirates, 7-6 at Three Rivers Stadium in Pittsburgh. Wallace Johnson doubled Otis Nixon home in the top of the 9th inning to win it. Barry Bonds went 1-for-5.
* The Texas Rangers beat the Detroit Tigers, 4-2 at Tiger Stadium in Detroit.
* The Oakland Athletics beat the Chicago White Sox, 7-4 at Comiskey Park in Chicago.
* The Milwaukee Brewers beat the Cleveland Indians, 8-4 at Milwaukee County Stadium. Paul Molitor hit a home run. Robin Yount went 2-for-4 with an RBI.
Seven days earlier, the film Major League premiered, featuring a fictionalized version of the Indians, with County Stadium serving as a stand-in for Cleveland Municipal Stadium. (Due to the filming schedule, Cleveland's stadium was not available, because the Browns were playing; while Milwaukee's was, since the Green Bay Packers had already played their last Milwaukee "home game" of the season.) Hence, real-life Brewers broadcaster Bob Uecker played fictional Indians broadcaster Harry Doyle.
* The San Diego Padres beat the Cincinnati Reds, 6-5 at Jack Murphy Stadium in San Diego. Tony Gwynn went 1-for-4 with an RBI.
* The Houston Astros beat the Los Angeles Dodgers, 3-2 at Dodger Stadium in Los Angeles.
* The San Francisco Giants beat the Atlanta Braves, 7-5 at Candlestick Park in San Francisco.
* And the Seattle Mariners beat the California Angels, 9-5 at the Kingdome in Seattle. Rookie Ken Griffey Jr. went 1-for-4.
Football was out of season. The Stanley Cup Playoffs were between rounds. The NBA was in the last weekend of its regular season, and these 7 games were played:
* The New York Knicks beat the Detroit Pistons, 104-100 at Madison Square Garden. Patrick Ewing scored 32 points and grabbed 15 rebounds. The Pistons went on to win the NBA Championship anyway.
* The New Jersey Nets beat the Chicago Bulls, 123-111 at the Brendan Byrne Arena at the Meadowlands.
* The Boston Celtics beat the Cleveland Cavaliers, 113-104 at the Boston Garden.
* The Charlotte Hornets beat the Philadelphia 76ers, 119-115 at The Spectrum in Philadelphia. Kelly Tripucka, son of former pro quarterback Frank Tripucka, both natives of my hometown of Bloomfield, New Jersey, scored 34 for the 1st-year expansion Hornets.
* The Dallas Mavericks beat the San Antonio Spurs, 118-110 at the HemisFair Arena in San Antonio. Adrian Dantley scored 34 for the Mavs.
* The Utah Jazz beat the Houston Rockets, 122-96 at the Salt Palace in Salt Lake City, Utah. Karl Malone led all scorers on the night with 35 points.
* And the Portland Trail Blazers beat the Miami Heat, 97-86 at the Portland Trail Blazers.
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