HOT UPDATE! From CNN: "Son of presidential nominee John McCain was reportedly former board member." "Nevada regulators have shut down Silver State Bank. It was the 11th failure this year of a federally insured bank.
"Andrew McCain, son of Republican presidential nominee John McCain was a member of the bank's board, but recently stepped down for "personal reasons," according to The Wall Street Journal. The younger McCain, 46, had also served on Silver State's audit committee, and was only with the bank for five months before leaving on July 26, the Journal reported."
"Silver State of Nevada Is 11th Bank Failure This Year"
"Silver State Bank of Henderson, Nevada was closed by U.S. regulators today, the 11th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Depression.
"Silver State, with $2 billion in assets and $1.7 billion in deposits, was shut by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corp., the FDIC said today in a statement."
And that's just one of the "little guys." There's also U.S. Nears Rescue Plan For Fannie And Freddie, which ain't exactly "failures," but horseshit of a different color is still horseshit. (And I've sourced this post; my authority for that last statement is Missouri Mule, the only woman I ever loved.)
Finally, it looks like those of you who were hoping for a McCain defeat this November are gonna be outta luck, especially when you consider boygeorge's not-so-sterling record as a business manager preparatory to entering politics. "Not-so-sterling" is another way of saying "Everything he touched turned to shit." And since the American people seem to have a fondness for electing failures, or sons of failures, well....