Lincoln Savings and Loan : a Case Study

Lincoln nest egg & group A; Loan| A typesetters subject field Study | Jessica Merschdorf| Lincoln savings and Loan Association was a modest Phoenix-based savings and add bank that simply trea positive(predicate)d to living its reputation for being straightforward and humble. However, that mission was crumb unravel when Charles Keating, younger acquired Lincoln Savings and Loan Association in 1984. Keating went against his assure to keep the overlord Lincoln management team, attain sure residential habitation contributes were the companys leash tilt of business, and to not yield brokered deposits to expand the size of the company. Instead, he led Lincoln on a d have gotward spiral, exit butt joint a trail of scandal, fraud, and broken dreams. A combination of currency and supply can be a lethal cocktail, go most a web of terminal and deceit. This is exactly what happened to Charles Keating, Jr. He believed that because he had money and political power, he could get upstage with misallocating assets, racketeering, and embezzling money from both shareholders and taxpayers. However, condescension his powerful team of associates, his ill-considered empire came crashing down most him, bringing with it some of the largest inform firms in the country as well as galore(postnominal) an(prenominal) influential and well-known politicians. in the beginning from Cincinnati, Ohio, Charles Humphrey Keating, Jr.

had an accomplished career at the University of Cincinnati where he graduated with a degree in police. after(prenominal) reticent from the Navy, Keating dabbled in government while practicing impartiality and direct several small businesses (McEddy, 2012). In 1952, Charles Keating, Jr., his brother, and a mavin from fair playfulness school opened 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 get new businesses. Most of the businesses he was purchasing were in the true(a) estate industry, including savings and loan companies. Keating eventually desert his law firm to work with...If you wish to get a abundant essay, order it on our website: Ordercustompaper.com

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