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Article: Inside the Silverado scandal. (collapse of Silverado Banking, Savings and Loan implicates Neil Bush)
- Article from:
- U.S. News & World Report
- Article date:
- August 13, 1990
- Author:
CopyrightCOPYRIGHT 1990 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The very word-"Silverado"was chosen to evoke a swaggering cockiness. Today, it stands
for the sinister opposite, among
the most readily identifiable symbols for the nation's biggest financial disaster. The reason why has to do with another name: Bush.
The President's son Neil sits in the center of the scandal that will make him the subject of a late-September administrative hearing and probably a 200 million suit against Silverado board members by the Federal Deposit Insurance Corporation FDIC boss William Seidman says he plans to decide within weeks whether to file such a suit, and well-informed sources say it is virtually certain he will. ...