Neil Bush, the son of President George H. W. Bush, who defrauded U.S. taxpayers out of $1.5 billion dollars in the savings and loan scam, and later peddled influence for the Chinese government, (who plied him with Chinese prostitutes) has formally endorsed Senator Ted Cruz for president. You can’t make this stuff up.
This endorsement says much. Since the other, more politically involved Bush men have a distinct dislike for Mr. Cruz, I suppose Neil Bush is better than no Bush. Let’s look at the wonderful memories that Neil Bush has left us with. First there is is that little banking charade he steered us into back in 1985.
Back in 1981, Neil Bush was director of Silverado Savings and Loan in Denver, Colorado. Neil was very generous, lending millions to pals Kenneth Good and William Walters. The $250 million in loans went into default, S.S. & L. went bankrupt and had to be seized by the Feds. Neil Bush walked away with a cool $100,000 personal loan which he never paid back. Documents released by the Office of Thrift Supervision detailed the conflict of interest charges against Neil. Federal regulators described him as “unqualified and untrained” to be a director of a financial institution.
It seems Neil miscalculated just how much he knew about directing a mega financial institution like Silverado Savings and Loan. By the summer of 1990, the cost of bailing out the savings and loan industry would cost at least $500 billion! Neil’s Silverado adventure cost U.S. taxpayers $1.5 billion.