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UpInArms

(51,908 posts)
3. Aaaahhh ... Silverado savings
Tue Dec 3, 2024, 03:53 PM
Dec 3
The Savings And Loan Scandal -- Neil Bush Stands In Shattered Ruins Of Denver Thrift

Aug 1, 1990

Five years later, Bush stands amid the wreckage of reputations and fortunes from one of the 10 biggest thrift failures in the country, battling efforts to transform him into a symbol of the entire savings-and-loan scandal. He faces administrative charges that he violated banking regulations in the way he handled Silverado's transactions with his business partners. The Federal Deposit Insurance Corp. (FDIC) yesterday said it will decide within the next two months whether to file suit against him and other directors to recover some of the estimated $1 billion cost of liquidating Silverado.

Even if Bush wins his case with the regulators - as he insists he will - the consequences of his Silverado days are still steep: a political embarrassment for President Bush and the Republican Party, a cloud of uncertainty over whatever political future he himself might have had, a year of his life lost to the controversy.


Recommendations

6 members have recommended this reply (displayed in chronological order):

Thank you for posting much needed info! The bushes have brought us to this moment of facist rule Clouds Passing Dec 3 #1
Thanks for this reminder..I had forgotten the details Deuxcents Dec 3 #2
Aaaahhh ... Silverado savings UpInArms Dec 3 #3
How about these scumbags? Greybnk48 Dec 3 #4
Uh...Neil Bush wasn't pardoned? tritsofme Dec 3 #5
I'm sure there is a difference. Raven123 Dec 3 #8
I'm not even sure that is actually true. My recollection is that he faced civil, not criminal, penalties. tritsofme Dec 3 #10
IMO, Joe is trying to protect him from future prosecution as well. Raven123 Dec 3 #11
Right, my point was that this pardon/clemency of Neil Bush tritsofme Dec 3 #14
Gotcha Raven123 Dec 3 #18
Yes he was pardoned by Bush 1 for saving and loan fraud. Demsrule86 Dec 3 #12
Nice try at what? Pierce claims he was pardoned, that doesn't appear to be true. tritsofme Dec 3 #13
He didn't recieve a pardon or a commutation NYC Liberal Dec 3 #23
Bush DoJ did not prosecute his son's billion dollar fraud. Kid Berwyn Dec 3 #24
No doubt about it, Neil Bush is corrupt as shit. It's just that Pierce's claim about the pardon is untrue. tritsofme Dec 3 #26
True. But Poppy really liked destroying the paper trail. Kid Berwyn Dec 3 #30
William Casey markodochartaigh Dec 3 #41
He was granted clemency UpInArms Dec 3 #38
That doesn't appear to be true either. tritsofme Dec 4 #45
Good memory surfered Dec 3 #6
Bad memory. Not true about Neil Bush. onenote Dec 4 #50
A thousand thanks, Charlie Pierce. Paladin Dec 3 #7
I love Charlie Pierce, but he's wrong. GHW Bush didn't pardon Neil. Ocelot II Dec 3 #28
I'll await Charlie Pierce's response, if that's quite alright with you. (nt) Paladin Dec 4 #44
Frankly, I think Biden Bashers need to take a good hard look at their own shortcomings. calimary Dec 3 #37
Excellent historical reference. nt moniss Dec 3 #9
A knowledge of US History can be so enlightening Hekate Dec 3 #15
Except this time Pierce's history is wrong. Bush I didn't pardon Neil. Ocelot II Dec 3 #29
What did Poppy do? Hekate Dec 3 #32
Nothing, apparently. Ocelot II Dec 3 #33
Can you be pardoned for any thing you might have done? That is the kind of Pardon folks like DontBelieveEastisEas Dec 3 #36
The Brothers Vindman are national heros markodochartaigh Dec 3 #39
So many very short and selective memories PatSeg Dec 3 #16
Great OP malaise Dec 3 #17
Biden is everyone's favorite punching bag. Nt BootinUp Dec 3 #19
And Neil commited serious crimes, not trumped up charges by a partisan Special Counsel. SunSeeker Dec 3 #20
And as for not pardoning before a crony served jail time, remember Rep. Duncan Hunter? Liberty Belle Dec 3 #21
4 presidents have pardoned family members before Biden pardoned his son: Liberty Belle Dec 3 #22
They are incorrect for both Carter and Bush. tritsofme Dec 3 #25
Please explain the Abraham Lincoln one Polybius Dec 3 #35
This is not correct. GHW Bush didn't pardon Neil. Ocelot II Dec 3 #27
Pierce needs to clean this up. Nt BootinUp Dec 3 #31
Knr UTUSN Dec 3 #34
It's getting to be disturbing how often misinformation is being spread on DU onenote Dec 3 #40
But Roger Clinton was pardoned by his brother Bill Clinton. LisaL Dec 4 #49
144 recs Sympthsical Dec 4 #54
As I recall, Mblaze Dec 4 #42
K&R ReRe Dec 4 #43
Biden shouldn't worry, but Pierce's claim about Neil Bush isn't true. tritsofme Dec 4 #46
This message was self-deleted by its author Hotler Dec 4 #47
Bill Clinton pardoned his brother. LisaL Dec 4 #48
Selective Amnesia. Both the Republicans and the Vogon_Glory Dec 4 #51
Apparently Esquire no longer uses fact checkers: Jose Garcia Dec 4 #52
Esquire retracted the column. sl8 Dec 4 #53
Now that entire column has been removed, a correction in its place. Tactical Peek Dec 4 #55
This is erroneous information please delete. Devilsun Dec 4 #56
Semantics. Kid Berwyn Dec 4 #57
You aren't supposed to be able to pardon people involved in a conspiracy MadameButterfly Dec 4 #58
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