McCain's role in S&L collapse rouses bitter memories

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McCain's role in S&L collapse rouses bitter memories
Some hurt by '80s troubles of Irvine-based Lincoln S&L hold grudge against presidential candidate.
By MARTIN WISCKOL
The Orange County Register
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Laguna Woods' Leah Kane got a personal apology from John McCain after she lost $15,000 in the Lincoln Savings & Loan debacle of the late 1980s.

"He was very gracious," said Kane, 88.

But that doesn't mean Kane has forgiven McCain for his role as one of the "Keating Five," a group of U.S. senators who tried to protect the Irvine-based Lincoln Savings & Loan from regulators.

"It was a horrible time," said Kane, who helped organize several hundred Leisure World investors who lost money to the thrift. "So many people suffered. I do blame McCain. I believe he saw an opportunity for wonderful vacations and that he liked being around people with money."

Kane was referring to the trips to Barbados that McCain took on Lincoln-owner Charlie Keating's jet. McCain also received $112,000 in contributions from Keating, and later said his intervention on behalf of the mogul was wrong.

more:http://www.ocregister.com/articles/mccain-keating-lincoln-2170124-kane-savings