The code of ethics of the failed Silverado S&L where Neil Bush was a director requires officials to avoid or report any situation that appears to be a conflict of interest. Bush is accused of ignoring this by supporting further financing for big Silverado borrowers while failing to inform colleagues that he had important business connections with them. In addition, it has been reported that Bush's campaign manager, Ken Mehlman, and his former chief political adviser, Karl Rove, were paid millions in fees from companies they advised on their financial dealings. Bush supporters say he is an honest but naive young man being persecuted because he is the President's son.
The code of ethics of the failed Silverado S&L where Neil Bush was a director requires officials to avoid or report any situation that appears to be a conflict of interest. Bush is accused of ignoring this by supporting further financing for big Silverado borrowers while failing to inform colleagues that he had important business connections with them. The Office of Thrift Supervision seeks a cease-and-desist order barring Bush from future violation of conflict of interest regulations and the FDIC names him in a $200 million suit against Silverado directors. Bush supporters say he is an honest but naive young man being persecuted because he is the President's son.