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Silverado Banking Savings Loan Association

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BUSINESS
January 24, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Deputy Treasury Secretary John E. Robson told the House Banking Committee on Tuesday that the $50 billion provided by Congress last year may be inadequate to close all insolvent savings and loan associations and make good on federal deposit insurance. "And if it is (inadequate), we will return to Congress in a timely manner to request more funds," Robson said in the first formal recognition by the Bush Administration that additional money could be needed to shore up the ravaged thrift industry.
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NEWS
May 24, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Neil Bush, son of the President and a former savings and loan association director, told a congressional committee on Wednesday that he received a $100,000 loan "that was never meant to be repaid" from a millionaire customer of the association. The millionaire developer, Kenneth M. Good, invested the money for Bush in 1984, a year before Bush joined the Silverado Banking, Savings & Loan Assn. board. In 1986, Bush actively sought approval of a $900,000 line of credit for Good from Silverado.
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NEWS
May 24, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Neil Bush, son of the President and a former savings and loan association director, told a congressional committee on Wednesday that he received a $100,000 loan "that was never meant to be repaid" from a millionaire customer of the association. The millionaire developer, Kenneth M. Good, invested the money for Bush in 1984, a year before Bush joined the Silverado Banking, Savings & Loan Assn. board. In 1986, Bush actively sought approval of a $900,000 line of credit for Good from Silverado.
BUSINESS
January 27, 1990 | SARA FRITZ, TIMES STAFF WRITER
President Bush's 34-year-old son, Neil, is being charged in an administrative proceeding with conflicts of interest while a director of a failed Colorado savings and loan, the government said Friday. The announcement came amid reports that the President is nearing a decision on appointing a new chairman of the Office of Thrift Supervision. The President's appointee ultimately will decide whether to uphold the action against his son.
BUSINESS
December 10, 1988 | From Times Wire Services
Federal savings and loan regulators on Friday pledged $1.05 billion to shut down an insolvent Denver institution in one of the nation's biggest S&L failures. The Federal Home Loan Bank Board, which regulates federally insured S&Ls, created a new institution to receive $1.7 billion in deposits of the Silverado Banking, Savings & Loan Assn., which was ordered closed by Colorado regulators.
BUSINESS
January 27, 1990 | SARA FRITZ, TIMES STAFF WRITER
President Bush's 34-year-old son, Neil, is being charged in an administrative proceeding with conflicts of interest while a director of a failed Colorado savings and loan, the government said Friday. The announcement came amid reports that the President is nearing a decision on appointing a new chairman of the Office of Thrift Supervision. The President's appointee ultimately will decide whether to uphold the action against his son.
BUSINESS
October 15, 1990 | From Associated Press
A savings and loan became insolvent after lending President Bush's son Jeb and a partner about half the money toward purchase of a $9-million office building, and the federal government ended up repaying most of the loan, the New York Times reported. Although it involved no criminal behavior, the loan is an example of the kind of poor lending practices that led to the thrift industry's troubles, the newspaper said.
BUSINESS
January 24, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Deputy Treasury Secretary John E. Robson told the House Banking Committee on Tuesday that the $50 billion provided by Congress last year may be inadequate to close all insolvent savings and loan associations and make good on federal deposit insurance. "And if it is (inadequate), we will return to Congress in a timely manner to request more funds," Robson said in the first formal recognition by the Bush Administration that additional money could be needed to shore up the ravaged thrift industry.
BUSINESS
December 10, 1988 | From Times Wire Services
Federal savings and loan regulators on Friday pledged $1.05 billion to shut down an insolvent Denver institution in one of the nation's biggest S&L failures. The Federal Home Loan Bank Board, which regulates federally insured S&Ls, created a new institution to receive $1.7 billion in deposits of the Silverado Banking, Savings & Loan Assn., which was ordered closed by Colorado regulators.
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