Neil Bush, the brother of Jeb and George W. Bush, has joined the Ted Cruz national finance team.
The move opens the door for the Bush dynasty to support the Texas senator in his bid for the White House.
The Dallas Morning News characterizes Neil Bush as a possible outlier within the family and reports it remains to be seen if the dynasty will shift its weigh behind the Cruz campaign after the failure of Jeb Bush to gain support for the nomination.
Neil Bush’s role on the Cruz national finance team is striking considering his history.
Key Figure in the Savings and Loan Scandal
Bush was a member of the board of directors of Denver-based Silverado during the savings and loan crisis of the 1980s.
According to an investigation conducted by the US Office of Thrift Supervision, Neil Bush illegally engaged in “breaches of his fiduciary duties involving multiple conflicts of interest” that led to the downfall of the institution.
The savings and loan crisis ultimately cost the American taxpayers over a trillion dollars.
Neil avoided going to prison for his role in the scandal. The boss of Silverado S&L, however, was not so lucky. Michael Wise was sentenced to three and a half years in the Federal prison at Leavenworth after pleading guilty to stealing nearly $9 million from investors.
George Bush, Sr. and Jeb were also implicated in the scandal.
Jeb defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. The taxpayers ended up shelling out $4 million to pay off the loan Jeb and his partners used to buy an office building.
The corporate media ignored Bush’s shady savings and loan dealings during his presidential campaign.