The two developers ultimately defaulted on more than $100 million in loans from Silverado, which helped bring about its collapse, according to regulators. An Office of Thrift Supervision judge ruled on December 18, 1990 that President Bush's son Neil violated conflict-of-interest regulations in the failure of Silverado S&L, of which he was a director. The case is one of several involving conflicts between Bush and his sons. Bush contested the allegations. If the ruling is upheld, he intends to take the matter to federal appeals court.
An Office of Thrift Supervision judge ruled on December 18, 1990 that President Bush's son Neil violated conflict-of-interest regulations in the failure of Silverado S&L, of which he was a director. The case is one of several involving conflicts between Bush and his sons. Bush contested the allegations. If the ruling is upheld, he intends to take the matter to federal appeals court.