It was the 11th failure this year of a federally insured bank.

Nevada regulators closed Silver State and the Federal Deposit Insurance
Corp. was appointed receiver of the bank, based in Henderson, Nev. It had $2
billion in assets and $1.7 billion in deposits as of June 30.

Andrew K. McCain, a son of Republican presidential nominee John McCain, sat
on the boards of Silver State Bank and of its parent, Silver State Bancorp,
starting in February but resigned in July citing "personal reasons,"
corporate filings with the Securities and Exchange Commission show. Andrew
McCain also was a member of the bank's audit committee, responsible for
oversight of the company's accounting.

http://ap.google.com/article/ALeqM5i...sbsTwD9311BV00


Best Regards
Tom.

Fannie Mae and Freddie Mac to follw soon, with Federal government
assuming their very sizable debt. See today's Washington Post for details.

i

On 2008-09-06, azotic wrote:
It was the 11th failure this year of a federally insured bank.

Nevada regulators closed Silver State and the Federal Deposit Insurance
Corp. was appointed receiver of the bank, based in Henderson, Nev. It had $2
billion in assets and $1.7 billion in deposits as of June 30.

Andrew K. McCain, a son of Republican presidential nominee John McCain, sat
on the boards of Silver State Bank and of its parent, Silver State Bancorp,
starting in February but resigned in July citing "personal reasons,"
corporate filings with the Securities and Exchange Commission show. Andrew
McCain also was a member of the bank's audit committee, responsible for
oversight of the company's accounting.

http://ap.google.com/article/ALeqM5i...sbsTwD9311BV00


Best Regards
Tom.




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Ignoramus10032 wrote in
:

Fannie Mae and Freddie Mac to follw soon, with Federal government
assuming their very sizable debt. See today's Washington Post for
details.


I'm glad that, finally, I'm "out of hock".

No mortgage, credit card bills, car/truck payments.

Just Taxes, Insurance, and Utilities.


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I used to be an anarchist but had to give it up: _far_ too many rules.