Silver State Bank has failed and been closed by federal and state regulators. It is the 11th bank failure this year. What is particularly noteworthy about this failure is that John McCain's son, Andrew McCain, was on the board of directors until about a month ago. While Barack Obama has said that candidate's children are off limits, it is not clear if that also holds for adult children involved in bank failures. This incident is surely going to drum up interested in the failure of another Arizona bank, the one run by Charles Keating, who ultimately went to federal prison despite his trying to get John McCain to help him. The Wall Street Journal has more.
Comments are closed for this post.
