Charles Keating IV

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Charles Humphrey Keating, Jr. (December 4, 1923 – March 31, 2014) was an American athlete, lawyer, real estate developer, banker, financier, and activist best known for his role in the savings and loan scandal of the late 1980s.
Keating was a champion swimmer for the University of Cincinnati in the 1940s. From the late 1950s through the 1970s, he was a noted anti-pornography activist, founding the organization Citizens for Decent Literature and serving as a member on the 1969 President's Commission on Obscenity and Pornography.
In the 1980s, Keating ran American Continental Corporation and the Lincoln Savings and Loan Association, and took advantage of loosened restrictions on banking investments. His enterprises began to suffer financial problems and were investigated by federal regulators. His financial contributions to, and requests for regulatory intervention from five sitting U.S. senators led to those legislators being dubbed the "Keating Five".

When Lincoln failed in 1989, it cost the federal government over $3 billion and about 23,000 customers were left with worthless bonds. In the early 1990s, Keating was convicted in both federal and state courts of many counts of fraud, racketeering and conspiracy. He served four and a half years in prison before those convictions were overturned in 1996. In 1999, he pleaded guilty to a more limited set of wire fraud and bankruptcy fraud counts, and was sentenced to the time he had already served. Keating spent his final years in low-profile real estate activities until his death in 2014.

Keating was born on December 4, 1923, in Cincinnati, Ohio, into a devout Roman Catholic family. He was the son of Adele (Kipp) and Charles Humphrey Keating.^[1] He grew up in the Avondale and Clifton neighborhoods of that city.^[2] His younger brother William was born in 1927. Their father came from Kentucky and managed a dairy.^[3] Charles Keating, Sr. lost a leg in a hunting accident, and then fell into a long decline from Parkinson's disease around 1931, and was nursed by his wife until his death in 1964.^[3]
Keating began swimming at a Catholic summer camp and became passionately involved in the sport.^[3] He attended St. Xavier High School, where he was a good student, was on the swim team all four years, and also ran track and played football.^[2][4] In swimming he led the team to three Greater Catholic League championships, set several school records, was named all-state, and was captain of the team in his senior year. Keating graduated from St. Xavier in 1941.^[5]
After one semester at the University of Cincinnati in fall 1941, Keating left because of poor grades,^[2][4] although he advanced to the NCAA Men's Swimming and Diving Championships in 1942, finishing sixth in the 200 yard breaststroke.^[6] He enlisted in the United States Navy, where he would spend four years.^[7] He trained in the Naval Air Corps to become a carrier-based night fighter pilot flying F6F Hellcats.^[7]

During World War II, Keating was stationed in the U.S., sometimes at Banana Creek in Florida,^[7] and flew Hellcats to armed services swimming meets.^[8] He narrowly escaped serious injury one night at Naval Air Station Vero Beach when he neglected to lower the landing gear on his Hellcat and wrecked the plane in an unexpected belly landing.^[9] Due to additional training on new intercept methods and the vagaries of squadron transfers, the war ended before he could be deployed to any combat theater.^[7]

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