The code of ethics of the failed The Office of Thrift Supervision where 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. His defenders portray Neil Bush, who was 30 when he joined the Silverado board in 1985, as an honest but naive young man who is being persecuted because he is the President's son. Silverado S&L seeks a cease-and-desist order barring Neil Bush from future violation of conflict of interest regulations and the The Office of Thrift Supervision 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.
The code of ethics of the failed The Office of Thrift Supervision where 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. Silverado S&L seeks a cease-and-desist order barring Neil Bush from future violation of conflict of interest regulations and the The Office of Thrift Supervision 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.