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McCain's Son Steps Down From High-Up Banking Posts

Business  (tags: John McCain, Keating 5, Andrew McCain, banks, banking industry, Nevada, Arizona, politics, government, money, lobbyists, campaign 2008 )

- 3590 days ago -
Andrew McCain stepped down from the boards of Silver State Bancorp and Silver State Bank of southern Nevada for "personal reasons," the Las Vegas Review-Journal reported. Silver State would not comment further.

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Blue Bunting (855)
Sunday July 27, 2008, 6:44 pm
Feds Seize Two More Banks

The FDIC said the takeover of the failed banks was the least costly
resolution and all depositors _ including those with funds in excess of
FDIC insurance limits _ will switch to Mutual of Omaha with "the full
amount of their deposits."

As of June 30, the closed banks had total assets of $3.6 billion. That's down from $4.1 billion six months earlier. Most of the assets are in 1st National while First Heritage accounts for $254 million.

Calls to 1st National were referred by a receptionist to Joe Martony, an executive vice president in Scottsdale, Ariz. Martony didn't return repeated calls to his office.

In Nevada, 1st National has 10 branches and employs about 350 people. Five of its branches are in Las Vegas, three are in the Reno-Sparks area, one is in Carson City and one is in Laughlin. Notices of the closure were being posted late Friday.


Melva H (93)
Sunday July 27, 2008, 7:00 pm
Wasn't it Neil Bush, Dubya's brother, who looted the S&Ls in Arizona? He was 'barred from ever being in banking in the Future'; but, of course, that ruling was quickly overturned. And wasn't it Neil who left his wife for their babysitter?? Is Andrew McCain walking in Neil's footsteps? Well, it worked well for Neil!!

Blue Bunting (855)
Sunday July 27, 2008, 8:49 pm
Yes, Melva ... "Silverado" was labelled the biggest bank robbery in history by the Bu$h brothers ...

Can you chant

Keating 5, Keating 5, Keathing 5 ...


The$e greedy RepubliCON$ never have enough money ...

Blue Bunting (855)
Monday July 28, 2008, 11:43 am
McCain was one of the Keating Five senators who intervened with federal regulators on behalf of Lincoln Savings and Loan head Charles Keating Jr, a six-figure campaign contributor and, in McCain's case, a business partner with his wife and father-in-law. The late 1980s-early 1990s savings and loan crisis cost US taxpayers more than US$100 billion. Keating was convicted of fraud and more, and the Senate Ethics Committee "rebuked" McCain. To make amends, McCain became an advocate of campaign finance reform from 1994, co-sponsoring the Bipartisan Campaign Reform act that became law in 2002.

While talking the talk on reform, Republican opposition would say McCain didn't walk the walk. McCain chaired Texas Republican senator Phil Gramm's short-lived 1996 presidential campaign that remains a monument to Washington money politics. Gramm was known as the senator from Enron, and his wife Wendy Lee Gramm headed the Commodity Futures Trading Commission, approving many of Enron's products before joining the company's board of directors, supervising one of the biggest corporate frauds in US history. McCain enlisted Gramm as his campaign's chief economic adviser until Gramm called voters "whiners" in an interview.

When he became chairman of the Senate Commerce Committee in 1997, overseeing all forms of business regulation, McCain took contributions from the very businesspeople he was regulating. According to the New York Times, McCain also fell back into his old habits of riding on corporate pals' planes and addressing federal regulators on their behalf. If Republicans were running against McCain, they'd label him a gold-plated, brazen hypocrite.

Blue Bunting (855)
Monday July 28, 2008, 12:32 pm

20 Years Later : Another McCain At Center Of A Bank Collapse and Government Take-Over?

Marion Y (322)
Monday July 28, 2008, 2:06 pm
Scandalous!!! Like father, like son.

And McCain was saying yesterday from the "straight talk express" that Obama has "no understanding." I guess McCain means Obama doesn't understand how to rip off Americans of all their money, lie about his military captivity and get out of Dodge City before the citizens come after you.

What a crazy world we live in...
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