McCain's Son Costs Taxpayer $500 Million

[kpete]

McCain's Son Costs Taxpayer $500 Million
Submitted by Bob Fertik on September 6, 2008 - 9:18am.


On Friday the FDIC closed Silver State Bank of Henderson, Nevada

the FDIC estimates that the cost to its Deposit Insurance Fund is between $450 and $550 million

Guess who was a director of the bank? John McCain's son Andy.

Kinda reminds you of John McCain's role in the Keating S&L, and Neil Bush's role in Silverado.

http://www.fdic.gov/news/news/press/2008/pr08077.html
http://www.reuters.com/article/pressRelease/idUS51176+26-Jul-2008+BW20080726
http://www.democrats.com/mccains-son-costs-taxpayers-500-million

[SheilaT]

1. Yes!

Just like Neil Bush and Silverado Savings!

Don't you just love how fiscally responsible the Republicans are? Doesn't it just make you want to vote for them!

Not.

[speedoo]

2. IIRC, he was on the Audit Committee.

Much, much more responsible for the losses than just an ordinary director.

[TahitiNut]

4. As a former internal auditor, I could tell you things about "Audit Committees" ...

... that'd curdle the creamer in your coffee. (If it wasn't for an NDA. Sigh.)

[speedoo]

8. I don't think I'd be surprised.

As a former Fortune 100 corporate internal control manager, I've seen plenty of crap.

But that does not change the fact that audit committee members have more responsibility for failures like this.

[MNDemNY]

3. He and neil bush should have a lot to talk about!

[LonelyLRLiberal]

5. No problem - just losing other people's money.

I hope this gets some media play.

[Fla Dem]

6. Gee, these repugs just keep sticking it to middle America. n/t

[1corona4u]

7. K.

I too hope this gets in the mainstream.

[nc4bo]

11. it'll get about as much attention that it gets on DU - sorry to say. nt

[Bernardo de La Paz]

19. Keep it kicked, then.

[MagickMuffin]

9. republicons motto: OPM... OTHER PEOPLE'S MONEY

my bil operated just like one, he would always hit his daddy up for money even as an adult.

So, consider it par for the course.

[K8-EEE]

10. They are the welfare kings.....truly!!

The Republican crimes of deregulation and larceny!

[liberalla]

12. 'Welfare Kings' - that's perfect!

Getting RICH on America's dime!

'Welfare Kings' - great terminology. We should be able to use that, don't you think?

[VolcanoJen]

17. Wingnut Welfare

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[FrenchieCat]

13. Well, I sent your post to our media just now.

Sent it to KO, Rachel Maddow, Randi Rhodes, Ed Schulz, and Stephanie Miller.

I'd urge others to do the same.

[truthisfreedom]

14. excellent post!

[TexasObserver]

15. Like father, like son.

He's a Keating Five legacy.

[AzDar]

16. Kick...

:kick:

[Bernardo de La Paz]

18. Shades of McCain's involvement with Charles Keating and his savings & loan company . . . nt

[RayOfHope]

20. Kicking for exposure n/t