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Another McCain Involved In Bank Collapse?

It appears the apple doesn't fall far from the McSame. The Political Base: Almost exactly 20 years ago -- in the middle of the saving and loan crisis

It appears the apple doesn't fall far from the McSame. The Political Base:

Almost exactly 20 years ago -- in the middle of the saving and loan crisis -- federal regulators seized Lincoln Savings and Loan Association of Irvine, California. The takeover took place more than a year after five United States senators had tried to hold-off a government investigation by the Federal Home Loan Bank Board into Lincoln's risky loan practices regarding home loans.

Those five senators included Sen. John McCain (R-AZ) and the chairman of Lincoln was Charles Keating -- who was not only a top McCain donor but was Cindy McCain's business partner in a real estate deal in Arizona (as I detailed earlier this year). This scandal -- known as The Keating 5 -- remains an albatross for McCain's political career.

As a result of Lincoln's collapse, American taxpayers lost more than $2 billion on the bailout and more than 21,000 mostly elderly investors lost their life savings as a result of bankruptcy of Lincoln's parent company.[..]

Well, 20 years later, we're back in the middle of another banking crisis and federal regulators have already begun seizing insolvent banks, and this advisory ran on the wires over the weekend:

Silver State Bancorp (NASDAQ:SSBX), the holding company for Silver State Bank, announced today that Andrew K. McCain submitted his resignation today as a director on the Boards of Directors of Silver State Bancorp and Silver State Bank, citing personal reasons.

Mr. McCain previously served as a director of Choice Bank in Scottsdale, Arizona from 2006 to April 1, 2008 when Choice Bank merged into Silver State Bank. Mr. McCain had been appointed to the Boards of the Company and Silver State Bank in February, 2008 and had served on the Audit Committee.

Andrew is none other than the son of John McCain.

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