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Thread: Ted Cruz Reaches Out To GOP Establishment For Help In Hopes Of Defeating Trump

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  1. #1
    Super Moderator Newmexican's Avatar
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    Ted Cruz Reaches Out To GOP Establishment For Help In Hopes Of Defeating Trump

    Ted Cruz Reaches Out To GOP Establishment For Help In Hopes Of Defeating Trump

    Posted on March 9, 2016
    by DCWhispers

    It started two weeks ago with several former Jeb Bush campaign staffers joining the Ted Cruz operation. Then just days earlier, it was the high profile hiring of Jeb Bush’s brother Neil to help stem the financial bleeding of the Cruz campaign. Neil Bush is said to be the newly-anointed primary link between the old-guard, GOP Establishment fundraising apparatus, and the Cruz campaign.
    And now today we find out Ted Cruz will be sitting down one-one-one with Jeb Bush himself.

    ABOVE: Although his recent cozying up to the GOP oligarchs has some among Ted Cruz’s supporters both confused and concerned, the Texas senator appears not to care. He feels his campaign needs the cash and the influence of the GOP Establishment if he is to have any hope of defeating Donald Trump.

    Mr. Cruz’s response regarding the news of Neil Bush joining his campaign was to say he is, “thrilled.”

    DC Whispers was among the very first to indicate the newly-developing financial troubles that now has the Cruz campaign so concerned. While millions have and continue to be raised, the campaign has also spent nearly as much as it has taken in, leaving it scrambling to raise yet more funds just a week out from the March 15, winner-take-all Super Tuesday primary elections.

    It is that constant hand reaching into the pockets of its supporters that has some saying, ENOUGH and pulling back from Team Cruz. That drop in the smaller donation rate is said to have been a significant factor in the Cruz campaign reaching out to the Bush operation which prior to its defeat, had raised nearly $140 million dollars between the campaign and its affiliated Super PACs.

    Team Cruz is now hoping to have access to some of those same Jeb Bush funding sources – namely the elite of the elite among the Republican Establishment. It is a scenario that has Senator Cruz indicating to this same establishment he is willing to forgive, forget, and most importantly to him now, take its money to further his own campaign.


  2. #2
    Super Moderator Newmexican's Avatar
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    He is THRILLED to have Neal?

    F.D.I.C. Sues Neil Bush And Others at Silverado

    By STEPHEN LABATON, Special to The New York Times

    Published: September 22, 1990

    WASHINGTON, Sept. 21— Federal regulators today sued Neil M. Bush, the President's son, and other directors, officers and lawyers of a defunct Denver savings and loan association, saying their ''gross negligence'' had led to a collapse that could cost taxpayers more than $1 billion.

    In a lawsuit filed in Federal District Court in Denver, the Federal Deposit Insurance Corporation stopped short of charging fraud. But it said that in the three years Mr. Bush was a director of the Silverado Banking, Savings and Loan Association, he violated conflict-of-interest regulations and failed to act to stop the institution from making improper loans, and in some cases illegal loans. 'Sophisticated Schemes'

    ''Silverado was the victim of sophisticated schemes and abuses by insiders, and of gross negligence by its directors and outside professionals,'' said Douglas H. Jones, senior deputy general counsel of the F.D.I.C.

    The agency had been considering filing such a suit for several months. It is seeking damages of at least $200 million from the defendants.

    The agency's action, a stinging critique of Silverado's directors and officers, singled out Mr. Bush, saying his participation in the approval of Silverado loans to William L. Walters and Kenneth M. Good, investors with him in the JNB Exploration Company, had violated his ''fundamental duty'' to avoid a conflict of interest or the appearance of one.

    Because the Silverado case involves the President's son, it has received an unusual degree of public scrutiny, heightening awareness of the scope of the savings and loan crisis and intensifying the partisan debate over who is to blame.

    Neil Bush has repeatedly insisted that he did nothing wrong and has refused to seek an out-of-court settlement with regulators, a stand that some White House political strategists say has heightened the potential for political damage to Republicans.

    After appearing to grow rapidly throughout much of the last decade, Silverado collapsed in December 1988 with $2.3 billion in assets. It has been taken over by the Government.

    The lawsuit filed today, one of the F.D.I.C.'s largest claims against directors, accused Mr. Bush and the others of failing to monitor the association properly and engaging in ''unsafe and unsound'' practices ''designed to achieve the appearance of growth at the expense of the long-term health of the association.'' A Related Hearing The suit came less than a week before a related but separate action, an administrative hearing for Mr. Bush in Denver. That proceeding, brought by the Office of Thrift Supervision, contends that as a Silverado director Mr. Bush failed to make sufficient disclosure of his business ties to Mr. Good and Mr. Walters. The regulators are seeking a cease-and-desist order, a relatively mild sanction that would order Mr. Bush to stop violating regulations governing the savings and loan industry.

    The final decision to file today's complaint was made by L. William Seidman, chairman of the F.D.I.C., whose differences with the Bush Administration led to unusual efforts this year to pressure him to leave his post early. He has said he will step down before his term expires in October 1991, and the Bush Administration has named a successor.

    President Bush has no authority to remove Mr. Seidman or to stop the suit against his son. The President said this summer that he would not seek to influence the agency's judgment.

    ''This is not easy for me as a father,'' he said at a news conference in July. ''It's easy for me as the President, because the system is going to work, and I will not intervene. I've not discussed this with any officials and suggested any outcome.''
    Other Defendants

    The other defendants in the lawsuit are Michael R. Wise, chairman and chief executive of Silverado; Robert M. Lewis, chief financial officer; Richard Vandapool, chief operating officer; Russell M. Murray, executive vice president; W. James Metz, who owned 88 percent of the stock in Silverado and its holding company, and five other board members: Florian F. Barth, Richard J. Bunchman, Dianne E. Ingels, Marjorie E. Page and Richard F. Vitkus. The suit also named Ronald H. Jacobs, a lawyer for Silverado, and the Colorado law firm of Sherman & Howard.

    Liability insurance for directors and officers of Silverado expired in 1986, and it is unclear whether the former board members have any coverage.

    Mr. Seidman declined to discuss the lawsuit in detail today, but said it had been handled the same way the agency dealt with all legal complaints. Asked whether the lawsuit was a result of his disagreements with the White House, he said, ''absolutely not.''

    Asked about the lawsuit, a spokesman at the White House, Stephen Hart, said, ''We have nothing to say about it.''
    James E. Nesland, Neil Bush's lawyer, said the suit was an effort to shift the blame for Silverado's collapse from the regulators to the directors.

    ''They have to place the blame somewhere other than themselves,'' Mr. Nesland said. He added that Silverado had been examined by regulators annually during the three years that Mr. Bush was a director and that during that time the Federal Home Loan Bank Board had advanced millions of dollars to back Silverado's operations.

    ''They never suggested that any management or directors be removed or replaced,'' he said.
    No 'Personal Animus' Seen

    Industry executives here who have had extensive experience with the F.D.I.C. said Mr. Seidman's decision to approve the lawsuit probably had little to do with his differences with the White House in recent months.

    ''I don't think there is any personal animus between Bush and Seidman,'' said Kenneth A. Guenther, executive director of the Independent Bankers Association. ''If they decided to bring the suit, then there must be sound legal grounds for it.''

    Some Democrats were quick to try to capitalize on the day's events. Howard Schloss, a spokesman for the Democratic Congressional Campaign Committee, said the lawsuit ''reinforces all the polling data that we have seen for the last two months, that the American public is going to blame the Republican Party for the savings and loan crisis and Neil Bush is going to be a symbol of that.''

    Photo: L. William Seidman, chairman of the F.D.I.C., made the final decision to sue the officers of a defunct Denver savings and loan association. He is shown testifying before the Senate Banking Committee on Thursday (Jose R. Lopez/The New York Times); Neil M. Bush, the President's son, is among those named in the suit. (Emmett Jordan for The New York Times)

  3. #3
    Super Moderator Newmexican's Avatar
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    Thrift Failed After a Loan to Bush's Son Jeb

    October 15, 1990|
    From Associated Press

    NEW YORK — A savings and loan became insolvent after lending President Bush's son Jeb and a partner about half the money toward purchase of a $9-million office building, and the federal government ended up repaying most of the loan, the New York Times reported.

    Although it involved no criminal behavior, the loan is an example of the kind of poor lending practices that led to the thrift industry's troubles, the newspaper said.

    California Federal Bank of Los Angeles ending up buying the failed thrift, Broward Federal Savings and Loan of Sunrise, Fla., from federal regulators two years ago.

    The Jeb Bush transaction was unrelated to civil charges that the president's youngest son, Neil, 35, acted improperly in his role as a director of Silverado Banking, Savings and Loan Association of Denver. That S&L failed in 1988 after making questionable loans.

    The Miami deal involves Jeb Bush, 37, and his partner, Armando Codina, who own a partnership called 1390 Brickell.
    In 1985, the two bought a Miami office building at that address for $9 million. They used a $7-million mortgage from an insurance company and a $4.6-million loan from Broward Federal Savings and Loan of Sunrise, Fla. The surplus money was to be used for improvements and a reserve account.

    The loan from Broward Federal was obtained through J. E. Houston Financial Group, headed by J. Edward Houston, a former associate of Bush and Codina.

    Broward Federal became insolvent in 1988, and the federal government paid more than $4 million to make good the loan on the Miami property as part of the bailout of the S&L industry.

    Bush and Codina negotiated a settlement with regulators in which they repaid $505,000 and retained control of the building, the Times said.

    It said Bush and Codina expressed surprise that the settlement could be interpreted as use of taxpayers' money to bail out the loan. Asked if they were aware that the money for the repayment came from taxpayers, both said no.

    Federal officials defended the agreement, saying that it was the best settlement available because of the weakened commercial real estate market in Miami and because the loan was secured by a risky second mortgage.

    They said Jeb Bush received no preferential treatment.

    A lawsuit between the 1390 Brickell partnership and Houston over who should pay back the $4.6 million was settled out of court under the auspices of federal regulators.

    They were authorized to step in because of a Dec. 31, 1988, agreement under which the assets and liabilities of Broward Federal were sold to California Federal Bank.

    The agreement called for the government to guarantee any loss experienced by Cal Fed in taking over Broward's affairs, to pay Cal Fed's costs in managing the loans and to pay costs of any litigation to resolve them.

  4. #4
    Super Moderator Newmexican's Avatar
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    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:

    What is important to note about the S&L scandal is that it was the largest theft in the history of the world and US tax payers are who was robbed.

    The problems occurred in the Savings and Loan industry as they relate to theft because the industry was deregulated under the Reagan/Bush administration and restrictions were eased on the industry so much that abuse and misuse of funds became easy, rampant, and went unchecked.

    Additional facts on the Savings and Loan Scandal can be found here:

    There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr. administration today. Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).

    Between 1981 and 1989, when George Bush finally announced that there was a Savings and Loan Crisis to the world, the Reagan/Bush administration worked to cover up Savings and Loan problems by reducing the number and depth of examinations required of S&Ls as well as attacking political opponents who were sounding early alarms about the S&L industry. Industry insiders were aware of significant S&L problems as early 1986 that they felt would require a bailout. This information was kept from the media until after Bush had won the 1988 elections.

    Jeb Bush defaulted on a $4.56 million loan from Broward Federal Savings in Sunrise, Florida. After federal regulators closed the S&L, the office building that Jeb used the $4.56 million to finance was reappraised by the regulators at $500,000, which Bush and his partners paid. The taxpayers had to pay back the remaining 4 million plus dollars.

    Neil Bush was the most widely targeted member of the Bush family by the press in the S&L scandal. Neil became director of Silverado Savings and Loan at the age of 30 in 1985. Three years later the institution was belly up at a cost of $1.6 billion to tax payers to bail out.

    The basic actions of Neil Bush in the S&L scandal are as follows:

    Neil received a $100,000 "loan" from Ken Good, of Good International, with no obligation to pay any of the money back.

    Good was a large shareholder in JNB Explorations, Neil Bush's oil-exploration company.

    Neil failed to disclose this conflict-of-interest when loans were given to Good from Silverado, because the money was to be used in joint venture with his own JNB. This was in essence giving himself a loan from Silverado through a third party.

    Neil then helped Silverado S&L approve Good International for a $900,000 line of credit.
    Good defaulted on a total $32 million in loans from Silverado.

    During this time Neil Bush did not disclose that $3 million of the $32 million that Good was defaulting on was actually for investment in JNB, his own company.

    Good subsequently raised Bush's JNB salary from $75,000 to $125,000 and granted him a $22,500 bonus.

    Neil Bush maintained that he did not see how this constituted a conflict of interest.

    Neil approved $106 million in Silverado loans to another JNB investor, Bill Walters.

    Neil also never formally disclosed his relationship with Walters and Walters also defaulted on his loans, all $106 million of them.

    Neil Bush was charged with criminal wrongdoing in the case and ended up paying $50,000 to settle out of court. The chief of Silverado S&L was sentenced to 3.5 years in jail for pleading guilty to $8.7 million in theft. (Keep in mind that you can get more jail time for holding up a gas station for $50.)

    Today Neil Bush is working on closing a deal in Florida, where his brother Jeb is governor, to sell a software package to schools with his startup company Ignite.

    Update 11/28/2003: Some of Neil Bush's business deals have been exposed in his recent divorce case. For more on this see:

    It should also be noted that shortly after news of Neil Bush’s involvement in the S&L scandal hit the press his father, George Bush Sr., announced the Desert Storm campaign in Iraq, which subsequently had the result of making Neil’s name quickly fade from the headlines. In addition, while Neil Bush's divorce proceeding were exposing more backroom Bush dealings, America was once again bombarded with war propaganda for Operation Iraq Freedom.

    The S&L scandal is by no means the only incident of questionable, and actually illegal, financial activity that the Bush family has been involved in. The line of questionable, illegal, and unethical businesses practices goes back at least to Prescott Bush Sr., George Bush Sr.’s father. Prescott Bush was a Senator from 1952 – 1963. Previous to his time as a Senator Prescott was a banker and businessman. Prior to the American entry into WWII Prescott Bush was director of Union Banking Corporation. Union Banking Corporation helped to finance Hitler’s regime. The Concentration Camps of Nazi Germany were labor camps that the Nazis used to make products for their regime as well as for sale to raise money. Prescott profited directly from the Auschwitz labor camp.

    In 1942, after Hitler declared war on America the United States government seized the Union Banking Corporation under the Trading with the Enemy Act as a front operation that was supporting the Nazis. Much of the profits from the operation were already pocketed by Prescott however, and $1.5 million was put in a trust fund for George Bush SrFor more on Prescott Bush's ties to the Nazis see:,00.html

    The issues of WWII will be revisited again later.

    This is actually just the tip of the iceberg as far as the Bush family and business dealings are concerned, the topic is a book in itself. In the interest of brevity I invite you to research the Bush family business ties yourself, including those in Saudi Arabia, where George Bush made millions as an oil well developer, and George Bush’s $14 million deal when he sold the Texas Rangers, while leaving tax payers footing the bill.

    For information on Prescott Bush Jr.'s economic ties to China see:

  5. #5
    Super Moderator Newmexican's Avatar
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    January 26, 2004, 4:42 PM
    Embarrassing Bush Divorce Papers

    Neil Bush on April 18, 1991

    In the annals of embarrassing presidential relatives, Neil Bush is no Billy Carter or Roger Clinton.

    But his messy divorce has produced some eye-opening disclosures.

    Among them: He had sex with women who showed up uninvited at his hotel rooms in Asia; he had an affair and may have fathered a child out of wedlock; and he stands to make millions from businesses in which he has little expertise - including a computer-chip company managed in part by the son of former Chinese president Jiang Zemin.

    It seems certain opportunities tend to present themselves when your name is Neil Bush.

    For his part, Bush defended the fees he has received for consulting jobs. But he gave little insight into whether the women who offered him sex in Hong Kong and Taiwan were perhaps paid by mysterious benefactors.

    In a deposition taken last March and reviewed by The Associated Press, Bush told the attorney for his wife of 23 years, Sharon, that the women did not ask him for money and he did not pay them anything.

    Asked how he knew what to do when he opened his door and saw a woman standing there, the 48-year-old Bush replied: "Whatever happened, happened."

    "It's a pretty remarkable thing for a man just to go to a hotel room door and open it and have a woman standing there and have sex with her," said the attorney, Marshall Davis Brown.

    "It was very unusual," Bush replied.

    Sharon Bush also accused Neil of fathering a child with the woman he now plans to marry. The woman's ex-husband has filed a defamation lawsuit, and DNA testing has been requested.

    The titillating details have made barely a splash in Texas, where loyalty to the president runs deep. University of Texas government professor Bruce Buchanan said he doubts Neil Bush's shenanigans will become political fodder in the 2004 election.

    "There are lots of examples of presidents with troubled siblings and it never seemed to have that much of an impact," he said.

    Jimmy Carter's beer-swilling brother, Billy, wrote a book called "Redneck Power" and accepted money from the government of Libya. Bill Clinton's half-brother, Roger, was jailed for a year for dealing cocaine. Richard Nixon's kid brother Donald took $205,000 from Howard Hughes in the hopes of opening a fast-food chain selling Nixonburgers.

    It is not the first time Neil Bush has caused his family some trouble. At the end of his father's presidency, Neil was among a group of defendants who agreed to pay $49.5 million to settle a negligence lawsuit over the $1 billion collapse of the savings and loan he directed in Colorado.

    Bush denied wrongdoing and was not charged in the grand jury investigation, but the U.S. Office of Thrift Supervision found Bush's conduct "involved significant conflicts of interest and constituted multiple breaches" of his fiduciary duties.

    Bush has gone on to reap profits from other ventures. In the deposition, he said he hoped to receive an estimated $2 million for acting as a consultant to Grace Semiconductor Manufacturing Corp., co-founded by Jiang Zemin's eldest son.

    "Now, you have absolutely no educational background in semiconductors, do you Mr. Bush?" Brown asked.

    "That's correct," said Bush, who holds an MBA from Tulane University.

    Bush recently told the AP he has "not received one penny of compensation" from Grace Semiconductor because he never did the consulting. He did not respond to a request for comment on his divorce proceedings.

    Bush has focused most of his energy on Ignite Inc., an Austin-based educational software startup. So far, he has raised $23 million from investors, including Winston Wong, the other founder of Grace Semiconductor.

    "Let's face the reality," Bush told the AP in 2002. "I probably have access to people who probably wouldn't meet with a development-stage company, but I feel I'm held to a higher standard."

    Bush's tax returns, obtained by the AP, showed $357,000 in income from Ignite and at least $798,218 from three transactions involving the stock of Kopin Corp., a small U.S. high-tech company where he had previously been a consultant.

    There is no evidence he has tried to enlist help from the president for any of his ventures. Bush spokesman Taylor Gross said the White House had no comment.

    Still, said Rice University political science professor Bob Stein, "there is a family pattern here where the Bush sons - Jeb, Neil and George - have benefited tremendously by their connections through their father."

    Currying favor with a relative of the president can "start to smell bad," said Steven Weiss, communications director for the Center for Responsive Politics, a nonpartisan group that tracks money in politics.

    Rex John, who has known Neil Bush since his Denver days, said he has never known Neil Bush to use his family connections to obtain business opportunities.

    "I'm sure it has opened many doors for him, but it wasn't Neil out there trying to get them open," John said. "Neil would never do anything like that. That's not his style."

    After Neil Bush severed his 23-year marriage to Sharon in May, he proposed last month in France to Maria Andrews, a former volunteer for former first lady Barbara Bush.

    Sharon Bush's lawyer in the defamation case, David Berg, allowed the AP to review the deposition but said he did not have a copy of Sharon Bush's testimony. He would not make her available for an interview.

    Sharon Bush, 51, alleged her ex-husband could have fathered Andrews' 3-year-old son. That prompted Andrews' former husband to file a defamation lawsuit against Sharon Bush. Neil Bush submitted a tissue sample for analysis.

    In the meantime, he has been ordered to pay $1,500 a month in child support for two of his children, Pierce, 17 and Ashley, 14. The couple's oldest child, Lauren, is 19.

  6. #6
    Administrator ALIPAC's Avatar
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    The Bush dynasty moving to get behind Cruz is a very disturbing sign.

    Newmexican, patbrunz and Judy like this.
    Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)

  7. #7
    Senior Member European Knight's Avatar
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    Ted Cruz Works for The Council On Foreign Relations – He Wants to Dissolve America
    Friday, March 11, 2016 6:36 before its news

    Ted Cruz Works for The Council On Foreign Relations. In the below video, David Vose explains deeply how Cruz wants to dissolve America. Did you know that Ted CRUZ is a LAWYER?

    Yes, you may have forgotten that LAWYERS are POLITICIANS in training, in training by, and for, corporate Elite. ALL Politicians start off as Lawyers. In this case we have a very heavily groomed C F R candidate to

    bring in the New World Order. We MUST not elect this man. And Trump is a BILLION AIR. We must recruit a real human to run a third party. Please do not vote for the New World Order!

    Ted Cruz Works for The Council On Foreign Relations - He Wants to Dissolve America | Blogging/Citizen Journalism

    patbrunz, artist and Judy like this.

  8. #8
    Senior Member patbrunz's Avatar
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    Cruz is no outsider. He is a total INSIDER! If you want Bush 3.0, vote for Cruz.
    Judy and IndianaJones like this.
    All that is necessary for evil to succeed is that good men do nothing. -Edmund Burke

  9. #9
    Senior Member European Knight's Avatar
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    some how Cruz is ko out but still on his feet face to Bush
    Judy likes this.

  10. #10
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