When fraudulent banking nearly sank the global economy in 2008, one former government official knew exactly how to nail the crooks. And he’d already swooped in to clean up a similar mess.
More than two decades ago, during the savings and loan crisis, Bill Black exposed the Keating Five, senators who took big campaign contributions from the most infamous of the savings and loan executives and then tried to hide their crimes by stopping bank examiners from doing their job. The scandal ended the careers of three of those senators. One of them—John McCain—went on to run for president.