People Are Merely Picking on Neil Bush

Neil Bush comes out on top again! It is gratifying that simple, honest, hard-working people are financially rewarded for their courageous entrepreneurial efforts, “Soured Venture Puts Neil Bush Under Fire Again” (May 3).

With a $3,000 personal investment, in two years he only made a total salary of about $320,000, plus expenses. It wasn’t his fault that his company, Apex Energy, went under or that the two investment firms that supplied $2.3 million in capital lost their money too.

The good news is that the money lost was originally borrowed by the venture capital firms under a small-business assistance program and the only people who may lose money will be the taxpayers. Both of the venture capital firms are controlled by a friend of President Bush, Louis Marx Jr.

We certainly wish Neil well in his future financial endeavors. In all fairness, any questions about his ethics and moral integrity when he was an S&L; director should not be raised at this time. Silverado is an entirely separate matter, and once again the taxpayers will cover the losses, so there is no reason to get excited.

HARRY J. BENGEL

Westminster