Posted on 03/08/2016 12:38:55 PM PST by jimbo123
Federal regulators today sued Neil M. Bush, the President's son, and other directors, officers and lawyers of a defunct Denver savings and loan association, saying their ''gross negligence'' had led to a collapse that could cost taxpayers more than $1 billion.
In a lawsuit filed in Federal District Court in Denver, the Federal Deposit Insurance Corporation stopped short of charging fraud. But it said that in the three years Mr. Bush was a director of the Silverado Banking, Savings and Loan Association, he violated conflict-of-interest regulations and failed to act to stop the institution from making improper loans, and in some cases illegal loans. 'Sophisticated Schemes'
''Silverado was the victim of sophisticated schemes and abuses by insiders, and of gross negligence by its directors and outside professionals,'' said Douglas H. Jones, senior deputy general counsel of the F.D.I.C.
The agency had been considering filing such a suit for several months. It is seeking damages of at least $200 million from the defendants.
The agency's action, a stinging critique of Silverado's directors and officers, singled out Mr. Bush, saying his participation in the approval of Silverado loans to William L. Walters and Kenneth M. Good, investors with him in the JNB Exploration Company, had violated his ''fundamental duty'' to avoid a conflict of interest or the appearance of one.
(Excerpt) Read more at nytimes.com ...
http://www.fdic.gov/bank/historical/s&l/
Bush Crime Family and the Clinton Crime Family and the Government Crime Family....
The FDIC always sues the directors of a failed financial institution. They want the Director and Officer Insurance money.
He has a Good Lawyer Now
So what was the result of the suit?
Cruz tried to position himself as having integrity and waved the Bible around. Then came the deception and now a willingness to hire a criminal. The former soft porn lady was too much though! Her, he fired and sent out in to the world unemployed.
Yeah, but his daughter Lauren is a babe - so at least there’s that.
Though I do not understand why anyone would let him near their finances I do think this will help Cruz pick up some of Rubio’s voters and possibly some of Kasich’s voters.
Funny. I thought they were too stupid to be successful crooks.
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