President Bush's son, Neil, was denied Friday his request to present oral arguments in the federal government's action against him as a director of a failed Colorado thrift.
Office of Thrift Supervision Director Timothy Ryan said that Bush had failed to demonstrate good cause.Neil Bush submitted the request Jan. 28 along with a legal papers objecting to an administrative law judge's finding that he engaged in unsafe and unsound practices while a director of Silverado Banking and Savings and Loan Association of Denver, Colo.
Judge Daniel Davidson recommended in December that a cease and desist order be issued against Bush and if he ever again became a thrift director that he obtain advice on his duties and responsibilities.
Ryan is to make a final ruling later this year. If Bush objects he can then go to the U.S. Court of Appeals.
Bush, 36, a Denver oilman, has staunchly denied that he committed any wrongdoing at Silverado, whose failure in December 1988 could cost taxpayers an estimated $1 billion.