<P> The Lincoln Savings collapse led to the Keating Five political scandal, in which five U.S. senators were implicated in an influence - peddling scheme . It was named for Charles Keating, who headed Lincoln Savings and made $300,000 as political contributions to them in the 1980s . Three of those senators, Alan Cranston (D--CA), Don Riegle (D--MI), and Dennis DeConcini (D--AZ), found their political careers cut short as a result . Two others, John Glenn (D--OH) and John McCain (R--AZ), were rebuked by the Senate Ethics Committee for exercising "poor judgment" for intervening with the federal regulators on behalf of Keating . </P> <P> Silverado Savings and Loan collapsed in 1988, costing taxpayers $1.3 billion . Neil Bush, the son of then Vice President of the United States George H.W. Bush, was on the Board of Directors of Silverado at the time . Neil Bush was accused of giving himself a loan from Silverado, but he denied all wrongdoing . </P> <P> The U.S. Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest". Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, The Washington Post reported . </P> <P> As a director of a failing thrift, Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners . And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners . </P>

How did the crisis in the savings and loan industry affect the us economy