Dalton was a key player in the Texas S&L scandal which ended up costing taxpayers $100 million. He ended up as an executive with Stephens, Inc., a Little Rock investment banking firm. There he became a FOB, a key Clinton supporter, helping finance Clinton's run for the WH. He was appointed Sec. of the Navy in 1993 by Clinton. As Navy secretary he was considered by many a failure, leaving the Navy in a deplorable state of readiness. It was said Dalton did more damage to the U.S. Navy in his tenure than Japanese Admiral Yamamoto managed in all of WWII.
All that is probably true, but this scandal was about two years ago...wish I could remmber what it was...he lied about something to cover up something....anyone know??