In 1987 the federal regulators were investigating Charles H Keating Jr. of Lincoln Savings and Loan. He was a big contributor to senators Dennis DeConcini and John McCain of Arizona, Alan Cranston of California, John Glenn of Ohio, and Don Riegle of Michigan.
He urged the senators to stall and block the regulators. But by 1989 the regulators seized Lincoln. Some of the Senators were censured and some were reprimanded on the senate floor. Lincoln S& L collapsed in 1989 and was bailed out by the government for 2 billion. 23,000 pensioners lost their savings.
The Arizona Republican Assembly voted unanimously to censure State Senator John McCain in June of 2005, during it's annual state convention. The reasons were the Amnesty Bill for Illegal Aliens, ignoring constitutional concerns with his campaign finance reform law.
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