Another Bank Fails (And There’s a McCain Involved)

Silver State Bank Goes Belly Up
By Cookie Jill / September 8, 2008

Guess Andrew McCain learned “economics” from his dad.

Regulators on friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly in commercial real estate and land development.

It was the 11th failure this year of a federally insured bank.

…Andrew K. McCain, a son of Republican presidential nominee John McCain, sat on the boards of Silver State Bank and of its parent, Silver State Bancorp, starting in february but resigned in july citing “personal reasons,” corporate filings with the securities and exchange commission show. andrew mccain also was a member of the bank’s audit committee, responsible for oversight of the company’s accounting.

The younger McCain, who is the chief financial officer of Hensley & Co., the beer distributorship of which Cindy McCain is chairwoman, is the Arizona Senator’s adopted son from his first marriage. – ap and ft

Silverado … silver state … lots of taxpayer bailouts for the financial failures caused by those with the silver spoons.

Source / Skippy the Bush Kangaroo

Thanks to Diane Stirling-Stevens / The Rag Blog

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2 Responses to Another Bank Fails (And There’s a McCain Involved)

  1. And of course you’ve got a barrel-full of other facts to add to this:

    1979 – Keating and Linder are under investigation by the SEC.

    Keating and Linder set up the game-plan for the S&L mess.

    Keating opens up the Lincoln Savings Bank – they choose Abe because he was known as ‘honest’.

    Keating then gets depositor’s money (all backed by the FDIC up to $100,000 insured).

    Keating now has the names, addresses, and social securities of all those depositors.

    Keating starts his American Continental (not much different than Linder’s AFC also another ‘corporation’ called American Financial, and of course Linder owns the PROVIDENT BANK in Cincinnati – a commercial bank that also writes ‘loans’).

    Keating decides to build his expensive hotel/resort in Phoenix (right down the street from McCain and Cindy).

    McCain is part of the Keating Five and Cindy was a business partner with Charles.

    The 10% CD’s that Keating’s American Continental offered were NOT backed by the FDIC which is why that everyone who got involved with Keating (buddy of McCain and Linder’s) went belly-up because they lost 100% of their money.

    Those that stayed with Lincoln, failed to open multiple accounts so that each INDIVIDUAL account would be secured by $100,000. The FDIC bailed out the first $100,000; the rest went ‘down the drain’ and many committed suicide.

    The Resolution Trust Corporation ‘came in’, and allowed COMMERCIAL BANKS (such as the PROVIDENT BANK OWNED BY LINDER) to buy up all the savings and loans for pennies on the dollars!

    The Bank of America also made out like the bandits they were – just about every single commercial bank with any kind of buying power, had a hay-hey-day with this ‘garage sale’ that was instigated by Keating and Linder.

    Neil Bush was the manager of the Silverado S&L (brother of George) – he was one of the first banks to fail.

    Now they’ve DONE IT AGAIN – this time Georgie-Boy got to be the ‘big guy’ in setting this all up.

    Same players; same theft – same bill-back to the tax-payers.

    What an evil bunch they are; the scum of the earth, and unfortunately it seems this time we as citizens, will be put further into debt than old man Bush and Georgie-Boy might have ever imagined.

    Surely they’ve all stocked their HUGE bomb shelters somewhere in the mountains of Colorado; tunneled right to the Denver Mint, and figure they can live through the destruction of this country – either by financial ruin, or by a nuclear war.

    It is a hard thing to accept, but this country we thought was so very ‘special and free’, was only ripe and ready to be picked up by the likes of the billionaires and their battles for supremacy. /ds

  2. Mariann says:

    so reminiscent of Dubya’s l’il brother Neil!!!

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