ABSTRACT
Between 1982 and 1989, a small group of savings and loan operators stole more money through insider loans and extravagant pay packages than gunman Willie Sutton ever dreamed of getting through holdups. Twenty-four-year-old college dropout Charles Keating III withdrew $1 million per year in salary and benefits from his father’s Lincoln Savings & Loan. Other Keating family members collected similarly generous salaries, traveled extensively at company expense, and received unsecured loans at below market interest rates.
