Reply #4: no - this is in Georgia - the one you refer to was in Colorado - [View All]

[UpInArms]

it was Silverado Savings and Loan

here's a link to that nasty Bush looting episode

The Bush family and the S&L Scandal


Neil, George Jr., George Sr., and Jeb Bush

The Savings and Loan industry had been experiencing major problems through the late 60s and 70s due to rising inflation and rising interest rates. Because of this there was a move in the 1970s to replace the role of S&L institutions with banks.

In the early 1980s, under Reagan, regulatory changes took place that gave the S&L industry new powers and for the first time in history measures were taken to increase the profitability of S&Ls at the expense of promoting home ownership.

A history of the S&L situation can be found here:

http://www.fdic.gov/bank/historical/s&l/