From the Financial Times:
A bank with ties to the family of John McCain was shut down by federal regulators on Friday, marking the 11th US bank failure this year and threatening to cause ripples across the presidential election campaign.
Andrew McCain, son of the Republican presidential nominee, was a director of Nevada-based Silver State Bank until resigning in July for “personal reasons”.
He was a member of Silver State’s audit committee, which has responsibility for overseeing the bank’s financial accounts ...
The episode is a potential embarrassment to his father at a time when bank failures are adding to a broader sense of gloom and economic insecurity among US voters.
It could revive memories of John McCain’s role in the “Keating Five” scandal during the 1980s savings and loans crisis, when he was reprimanded by a Senate watchdog for lobbying on behalf of a campaign donor whose mortgage lending institution was under investigation by regulators ...
He is an adopted son from his father’s first marriage but also has close ties to the senator’s second wife, Cindy, in his role as chief financial officer of Hensley & Co, the Arizona-based beer distribution company controlled by Mrs McCain.
Recent Comments