Silverado: Neil Bush and the Savings & Loan Scandal by Steven WilmsenFunny how the Silverado savings and loan scandal of the 1980s - one of Colorados `finest moments when the full weight of the greed and complete whoredom of the statess political class came into full view for the world to see, with a little help from George Bush - the Elders dyslexic son Neil - has disappeared from view.
The scandal comes alive in Steven Wilmsens `Silverado: Neil Bush and the Savings & Loan Scandal, a book difficult, but not impossible, to find.
If you want to know what makes our stunning state tick - even 20 years on - after the scandal broke, this book is a must. Many of the players - the scuzziest and most duplicitous of the lot - not only still around - have morphed into icon status - worth the read, if only to find out how shit travels uphill
S&L; Crisis Puts President’s Son on the Hot Seat
The massive savings and loan scandal, the biggest financial disaster in American history, is rapidly acquiring a new symbol: Neil Bush, the year-old son of the President of the United States. Now he is in danger of seeing his son become the most-visible example of what went wrong when sometimes-greedy developers took out huge loans that they could never repay. Nevertheless, a longtime associate of the chief executive said that the President is deeply worried about the implications of the Silverado case for his son. And an initial investigation suggests that there is at least some reason for the President to be apprehensive. Congressional records show that less than a month before the presidential election, state officials had concluded that Silverado was insolvent and had made plans to order it shut down. In separate action, federal officials have charged Neil Bush with violating conflict-of-interest rules because, while serving on the Silverado board, he failed to disclose his business ties with Kenneth M. Good and Bill Walters, two developers who were big borrowers at Silverado.
After Jeb Bush, a son of the President, and a partner bought a Miami office building using money an associate had borrowed from a local savings and loan, the Federal Government wound up repaying most of the loan. There is no evidence that Mr. Bush or his partner improperly influenced the settlement process. Bush, in an interview, said he was a ''victim of circumstance'' and had no involvement in the settlement talks. Bush invited a reporter to come to Miami to review the partnership's records. While the complex loan arrangement does not involve allegations of criminal behavior, it stands as an illustration of the poor lending practices of savings institutions that led the industry into desperate straits.
The Bush Family and the Savings and Loans (S&L) Scandal (s). In the s, George W Bush's younger brother Neil was involved in the.
does barnes and noble fix nooks
Charles Keating: Lincoln Savings & Loan hearing
The Savings and Loan industry had been experiencing major problems through the late 60s and 70s due to rising inflation and rising interest rates. There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr. Jeb Bush, George Bush Sr. This information was kept from the media until after Bush had won the elections. The taxpayers had to pay back the remaining 4 million plus dollars. Neil became director of Silverado Savings and Loan at the age of 30 in