Federal Deposit Insurance Corporation

FIRREA Signed: $160 Billion Taxpayer Bailout of S&L Industry Fraud

1989-08-09 00:00:00 +0000 UTC | Importance: 9/10

President George H.W. Bush signs the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), authorizing a $160.1 billion taxpayer bailout of the savings and loan industry—with $132 billion coming directly from taxpayers through higher taxes and fees. The legislation creates the …

George H.W. Bush Congress Resolution Trust Corporation Federal Deposit Insurance Corporation s&l-crisis firrea bailout taxpayers deregulation-failure +1 more

Silverado S&L Collapses: Neil Bush Conflict of Interest Costs Taxpayers $1 Billion

1988-12-01 00:00:00 +0000 UTC | Importance: 8/10

Silverado Savings and Loan collapses with losses exceeding $1 billion to taxpayers, exposing serious conflicts of interest involving Neil Bush, son of Vice President-elect George H.W. Bush. Neil Bush served on Silverado’s board of directors from 1985-1988, during which he approved over $130 …

Neil Bush George H.W. Bush Silverado Savings and Loan Federal Deposit Insurance Corporation Good International +1 more neil-bush silverado s&l-crisis conflict-of-interest fraud +1 more