Lincoln Savings was seized by federal authorities the day following American Continental 's bankruptcy filing .
When American Continental Corporation , the parent of Lincoln Savings , went bankrupt in 1989 , more than 21,000 mostly elderly investors lost their life savings .
Lincoln Savings was seized by federal authorities the day following American Continental Corporation   's bankruptcy filing .
When American Continental Corporation , the parent of Lincoln Savings , went bankrupt in 1989 , more than 21,000 mostly elderly investors lost their life savings .