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Politics : PRESIDENT GEORGE W. BUSH
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To: jlallen who wrote (50948)10/23/2000 11:43:39 AM
From: American Spirit  Read Replies (1) of 769670
 
Donald Regan personally intervened to keep the S+L's in business and hush up the scandal. Neal Bush's Silverado S+L connection also made Bush Sr. hesitent about solving the crisis until it was too late. You've got it backwards. And the entire mess started with the Reagan Administration inititive called the Garn-St.Germaine act which removed virtually all limitations of S+L's, how they can use their money, who they can loan to and what collateral is sufficient. The worst of the worst abuses were in Texas where S+L's bankers gave the GOp record amounts of money. They were RR's largest campaign cotnributors at the time.
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