Those whose arguments are empty of fact are usually full of shit. --David Porter
Get it out there. Call, write, talk, inform.

Monday, July 28, 2008

Like Father Like Son

Uh oh, it seems that trouble is a brewin' for the McCain's.

Andrew K. McCain, son of John McCain, has resigned two high posts in the banking industry.

Andrew McCain stepped down from the boards of Silver State Bancorp and Silver State Bank of southern Nevada for "personal reasons". Uh-huh, like he doesn't want to be dragged down with a failing bank that the American Taxpayers will have to bail out?

Shares of Silver State Bancorp, of which Andrew McCain owns 1,226, closed at $1.28 a share on Friday. The stock's 52-week high on Nasdaq (symbol SSBX) is $24.10.

John McCain was one of the "Keating Five," congressmen investigated on ethics charges for strenuously helping convicted racketeer Charles Keating after he gave them large campaign contributions and vacation trips. McCain intervened on behalf of Charles Keating after Keating gave McCain at least $112,00 in contributions.

Keating was convicted of racketeering and fraud in both state and federal court after his Lincoln Savings & Loan collapsed, costing the taxpayers $3.4 billion. His convictions were overturned on technicalities; for example, the federal conviction was overturned because jurors had heard about his state conviction, and his state charges because Judge Lance Ito (yes, that judge) screwed up jury instructions. Neither court cleared him, and he faces new trials in both courts.)

Is Andrew getting out while the gettin's good?

Stay tuned...


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