The FDIC has just announced Silver State Bank of Henderson Nevada has failed, with the FDIC taking it over. While this is part of our regular Friday bank failure watch, and no particular surprise, the political angle is that Andrew McCain, John's son, was on its board from February 08 until he resigned 7/29/08.
When I first heard the news in July, I figured the resignation was a sign of an impending failure, and reflected the McCains desire to avoid the taint of a failed bank. However, if we can turn our gaze from Alaska for a second, can you folks in Nevada enlighten us further on Andrew McCain's involvement with the institution?