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"Yes, and with the S&Ls that went under, why no stories on little old ladies who lost their shirts and had to choose between medicine and food......"
33 posted on 3/20/02 2:09 PM Central by mwl1

Here's why ----- ( http://www.freerepublic.com/forum/a389fc8b91467.htm

A failed Colorado savings and loan whose board of directors included a son of President Bush was part of an intricate web of federally insured financial institutions that had business links to organized crime figures and CIA operatives, The Houston Post has learned.

On this transaction, there was no promissory note listed, no deed of trust filed and the vendor's lien in the deed was marked out. In addition, the prior lien of Wood Bros. was neither listed nor released. "That is a very squirrelly deal," said one real estate lawyer who asked that his name not be used.

Four of the largest borrowers at Silverado Savings and Loan, a Denver thrift that collapsed in December 1988 at an estimated cost to the federal government of $1 billion, had connections to convicted Louisiana mob associate Herman K. Beebe Sr., or to Robert L. Corson, a Houston developer and alleged CIA operative.

Three of the four also had independent business relationships with Neil Bush, who was a member of the Silverado board from 1985 until he resigned in August 1988, a week after his father won the Republican presidential nomination.

The U.S. Office of Thrift Supervision in January issued orders barring five former Silverado officials from any future association with federally insured financial institutions.

Neil Bush was questioned by the OTS and was asked to sign a consent order by which he would agree to avoid conflicts of interest in any future relationships he might have with federally insured financial institutions.