Speaking of troubling family members....a remembrance

  1. lovemychris profile image68
    lovemychrisposted 7 years ago

    Much is being made by the Rabid Righty's about Obama's aunt and uncle....JUST wanted to remind them that their hero's have had some doozy's!

    "Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).

    Between 1981 and 1989, when George Bush finally announced that there was a Savings and Loan Crisis to the world, the Reagan/Bush administration worked to cover up Savings and Loan problems by reducing the number and depth of examinations required of S&Ls as well as attacking political opponents who were sounding early alarms about the S&L industry.  Industry insiders were aware of significant S&L problems as early 1986 that they felt would require a bailout.  This information was kept from the media until after Bush had won the 1988 elections.

    Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at  $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

    Neil Bush was the most widely targeted member of the Bush family by the press in the S&L scandal.  Neil became director of Silverado Savings and Loan at the age of 30 in 1985.  Three years later the institution was belly up at a cost of $1.6 billion to tax payers to bail out."

    http://rationalrevolution.net/war/bush_ … _the_s.htm
    ******

    Oh MY! Tax-payer bail-out? Ya don't say! 
    Geee--almost makes Obama's relatives seem inconsequential doesn't it?

    Live in Glass Legacy's?  Stop pitching pebbles.

    "This information was kept from the media until after Bush had won the 1988 elections".   Uh Huh......the good ole days.

 
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