Charles Keating probably had strong feelings of being a victim of persecution when federal authorities seized his troubled Lincoln Savings and Trust . In a July 19, 1989, memo to the bank board's top officials in Washington, Mark Randall, the government official in charge of managing the conservatorship, said the consultant, Roger Clark, failed to address Lincoln's major problems. " His anger may have also surfaced when the same authorities justified the seizure by lowering the total value of the company 's assets to a figure of one- half of its liabilities . The federal charge estimated the thrift 's assets were worth only 2 - 2.5 billion dollars and that the discrepancy in funds could cost taxpayers two billion dollars . Keating also faces charges of federal mismanagement of his seized savings and loan during a hearing in which he is trying to defend his company .
Charles Keating probably had strong feelings of being a victim of persecution when federal authorities seized his troubled Lincoln Savings and Trust . His anger may have also surfaced when the same authorities justified the seizure by lowering the total value of the company 's assets to a figure of one- half of its liabilities . The federal charge estimated the thrift 's assets were worth only 2 - 2.5 billion dollars and that the discrepancy in funds could cost taxpayers two billion dollars . Keating also faces charges of federal mismanagement of his seized savings and loan during a hearing in which he is trying to defend his company .