Panel Finds 'Credible Evidence' Cranston Violated Ethics Rules

While the six members of the committee had split along party lines at various times over how to handle McCain, the lone Republican among the five, senators from both parties denied yesterday that politics played a major role in their final decision. "There was some partisanship, but in the endgame, politics was not a factor," said Sen. Trent Lott (R-Miss.).

In the case of Cranston, the committee said that on at least four occasions he or his staff contacted regulators on Keating's behalf "in close connection with the solicitation or receipt of contributions" from Keating. It also said his office practices show "an impermissible pattern of conduct in which fund-raising and official activities were substantially linked," including use of an outside fund-raiser in arranging meetings where legislative and regulatory issues were discussed.

The committee found that Riegle helped Lincoln with its regulatory problems while Keating was raising "substantial campaign funds" for Riegle.

Although finding that aggressive conduct in dealing with regulators may be appropriate at times, the committee found that DeConcini's "aggressive conduct with the regulators was inappropriate."

It also faulted Glenn for arranging a luncheon between Keating and then-House Speaker Jim Wright (D-Tex.), even after learning that criminal action might be taken against Lincoln officials. In McCain's case, it said his judgment was poor in intervening with the regulators.

The Keating Five investigation was the Senate's second major ethics case in less than a year, and the panel is nearing a critical point in a third probe, which involves Sen. Alfonse M. D'Amato (R-N.Y.).