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P.M. BRIEFING : Bush Son Has ‘Nothing to Hide’

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From Times wire services

President Bush’s son Neil said he has “nothing to hide” about his 34 months as a director of a collapsed Colorado savings and loan whose federal bailout may cost U.S. taxpayers over $1 billion.

A former federal bank regulator charged last week that government officials delayed closing Silverado Savings & Loan largely because the younger Bush was on the board of the Denver-based thrift.

But Neil Bush, who resigned from the board last year, said in today’s editions of the San Francisco Chronicle that he was never asked to influence regulators.

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“Nor would I have if I had been asked,” he said.

The 34-year-old Bush stepped down from Silverado’s board last August, immediately after the thrift reported it was $200 million in the red and four months before the state of Colorado took over the thrift.

He told the Chronicle he resigned before his father’s acceptance of the Republican presidential nomination in order to prevent speculation.

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