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Some bank's gonna get hurt
- Thread starter FluffyMcDeath
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bush woulda bailed them out too...
Neil Bush was a member of the board of directors of Denver-based Silverado Savings and Loan during the 1980s' larger Savings and Loan crisis. As his father, George H.W. Bush, was Vice President of the United States, his role in Silverado's failure was a focal point of publicity. According to a piece in Salon, Silverado's collapse cost taxpayers $1.3 billion.[3]
The US Office of Thrift Supervision investigated Silverado's failure and determined that Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indictedon criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, as reported in the Style section of theWashington Post.[4]
A Republican fundraiser set up a fund to help defer costs Neil incurred in his S&L dealings.[5]
http://en.wikipedia.org/wiki/Neil_Bush#Silverado_Savings_.26_Loan
Neil Bush was a member of the board of directors of Denver-based Silverado Savings and Loan during the 1980s' larger Savings and Loan crisis. As his father, George H.W. Bush, was Vice President of the United States, his role in Silverado's failure was a focal point of publicity. According to a piece in Salon, Silverado's collapse cost taxpayers $1.3 billion.[3]
The US Office of Thrift Supervision investigated Silverado's failure and determined that Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indictedon criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, as reported in the Style section of theWashington Post.[4]
A Republican fundraiser set up a fund to help defer costs Neil incurred in his S&L dealings.[5]
http://en.wikipedia.org/wiki/Neil_Bush#Silverado_Savings_.26_Loan
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Yes, but that particular instance of rampant and reckless criminality in powerful families was decades ago. Can't we just move on?
(Any crime committed by powerful people is just an "unfortunate episode" - unlike those remorseless hardened types doing life for getting caught with pot three times).
