THE SAVINGS and loan (S&L) scandals of the 1980s are considered to be one of the worst financial fiascoes in American history. Charles Keating, the head of Lincoln Savings and Loan, became the major villain of the S&L scandals. Keating has often been referred to as the “Hannibal Lecter of Finance,” a reference to a cannibalistic character in the novel and movie, Silence of the Lambs. Keating's background should have made him an American hero rather than a villain. He had been a fighter pilot during World War II and afterward appeared to be headed for a successful business career as the executive vice president of American Financial in Cincinnati, Ohio. However, in 1979, both Keating and his boss were charged with defrauding stockholders when ...