KEATING’S WAR WITH THE PRESS

Abstract

Like Donald Trump, Keating used his economic power to intimidate reporters and regulators with lawsuits as he pursued his business expansion; Keating and Trump parallels are discussed. The fight between Keating and the press points to a broader tension between capitalism and the press, a central theme in the book. Keating’s lawsuits and legal threats are examined with new archival material from American Continental Corporation Archives and a Federal Bureau of Investigation FOIA request. The chapter shows how early mainstream press coverage missed signs about Keating’s political manipulation of the regulatory process. It also shows how National Thrift News engaged in detailed beat reporting where the New York Times, American Banker, and the Wall Street Journal did not.