So It Goes: Enron Perp Will Get Out of Jail (Almost) Free By Buying Himself Out

[Rain Mcloud]

87. Here we go again.......

Remember the Savings and Loan fiasco in the '90s?
This does not get much play in the media anymore since it makes the case against deregulation of the too big to fail/jail.
Specifically the Silverado Savings and Loan comes to mind when Neil Bush and his business partners made off with $100 million and gave back $50,000 in fines which cost the taxpayers $1.3 Billion dollars.

Since he was a Bush and deregulation and oversight was banned then it was no big deal apparently.

"The U.S. Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, the Washington Post reported.[27]

As a director of a failing thrift, Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners. And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners.[citation needed]

Neil Bush paid a $50,000 fine, paid for him by Republican supporters,[28] and was banned from banking activities for his role in taking down Silverado, which cost taxpayers $1.3 billion. A Resolution Trust Corporation Suit against Bush and other officers of Silverado was settled in 1991 for $26.5 million."
Source: Wiki

Read more here:http://en.wikipedia.org/wiki/Savings_and_loan_crisis