11 August 2017

RIP Charles Keating: The Developer of Dobson Ranch Here In Mesa

Your MesaZona blogger likes the way that Jon Talton, The Rogue Columnist, got nostalgic in-his-own-way about the passing of one of The Valley of Sun's most infamous, disgraced and jailed public figures back in article from 03 April 2014.
Just like more than a few public lawmakers, politicians and real estate entrepreneurs operating today he was an outwardly likable man who everyone praised for his love of faith and family. . . 
QUESTION: Who, dear readers, might be operating today  'under that cover' of being outwardly like-able at the same time escaping scrutiny?
 "History may remember him as a bridge between old-time swindlers and the players who brought on the financial panic and Great Recession. Specifically, influence peddling to declaw regulators, hyper-complexity of business dealings, the purchasing of powerful lawmakers and sociopath entrepreneurship. All this in an outwardly likable man who everyone praised for his love of faith and family. . .
He was a pioneer of the huge, civically destructive "master planned community" that has become ubiquitous. . .
When federal regulators seized Lincoln Savings in 1989, up to then the costliest financial institution failure in American history, they had no doubt that Keating had stepped over the line.
In addition to allegations of skimming deposits for personal uses and to buy politicians, Keating ran an S&L that notoriously sold junk bonds to unwitting customers. Many of them elderly, they cashed out federally insured deposits to buy $265 million of uninsured debt in American Continental, Keating's complex umbrella corporation that included house-building, insurance, banking and, perhaps, . . ."

Time wounds all heels.
Sooner or later it all comes back to bite

Link to original article > http://www.roguecolumnist.com/rogue_columnist/2014/04/charlie-keatings-phoenix.html

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