State regulators of Nevada finally closed the Silver State Bank of Henderson and handed it over to the FDIC yesterday. What makes that particularly interesting is that Mr. Andrew McCain, son of John McCain and CFO of Hensley & Co, had only recently resigned as director of that bank in late July - citing 'personal reasons'.

Andrew McCain first accepted that post only back in February when the Silver State Bank merged with Choice Bank of Scottsdale, Arizona where he had also been the director. As a director, he was on the auditing committee of the Silver State Bank. The failure is expected to cost the FDIC deposit insurance fund between $450 million and $550 million dollars.

McCain's resignation came close on the heels of Doug French, who resigned from his position as Executive Vice President in May after selling off 162,200 shares of Silver State stock because they were purchased with borrowed money.

The Silver State Bank is currently under investigation for potential money laundering connected with the CMKX Diamond stock fraud - one of the largest financial fraud schemes in history.

Doug French, by the way, is the founder of Liberty Watch Magazine and someone you might call a free market thinker.

Hey, I thought the kids were to be off limits!

;-)

Does suggest he is following in his father's footsteps though.

Crooks run the nation. When Nixon said, "I'm not a crook" he lied.

I'm no expert when it comes to this stuff, but the guy I used to call my father-in-law sure is. Sure like to be a bug on the wall in his office when this is discussed.

The fact that he was on the Choice auditing committee, and the director, would seem to imply that he looked at what Choice was getting when it merged with Silver State, correct?

Now, you didn't mention anything about McCain selling off a bunch of pre-collapse shares, bought with borrowed money, however if his Exec VP was buying blocks,..well. I can see why they're being investigated.

"Mefore we go awf keeling peeple, we better make DAMN shur dat he's wallowing in his vaters vootshteps!"

'What?"

"Wallowing in his vater's vootshteps. Vootshteps vootshteps!!!"

"Ohhhh!"

Deserves a little scrutiney. Gues thats where that quarter of a million dollars worth of peals McCains wife was wearing came from.

Nah thats just the profit from drunk drivers.

can get a spot on Oprah - I think he would have a lot to talk about.

Abby Normal. As Igor would say, it's just a hunch.

At the office. Haven't had time to follow the links or check more into this.

Wonder where French borrowed the money to buy up 162,200 shares. Sure hope it wasn't from Choice or one of its wholly owned subsidiaries if you know what I mean.

"Hunch? What hunch?"

is just weird. It was by Googling that I managed to match Doug French up with the magazine - none of the articles about Andy had that, but it's him.

The marriage market is like any other. Exchange is made when each party, seller and buyer, perceive that each will benefit from the transaction. Available men and women have value in the marriage marketplace. Some are more valuable than others, based upon: ability to provide for a family, looks, personality, ability to have children, etc.

If there is a shortage of women in a particular area, the value of all women will increase.

Legalizing polygamy, as economist David Friedman wrote in his book "allows some men who before wanted one wife to try to marry two instead – provided that they are willing to offer terms at which potential wives are willing to accept half a husband apiece. So the demand curve for wives shifts out. The supply curve stays the same, the demand curve shifts out, so the price must go up. Women are better off."

Supply and demand. A half a husband apiece. The price must go up.

I'd like to introduce this guy to a few women I know.

They'd find half of him in Arizona, and the other half in Utah.

You mean like in Charles Keating?

Okay, just finished reading the CMKX Diamond thing.

I'd say there's no way on earth that McCain didn't know what Casavant and Edwards were doing with 100 open accounts.

Also, French saved $1,600,000 by selling his 162,200 shares when he did. Whether that money went into his pocket, or back to the institution that loaned him the purchasing capital to begin with is meaningless. That's the kind of thing that winds people up in the Martha Stewart Block for 2-5.

That DeCosta girl might want to look both ways before crossing the street.

that was my take, too.

Do understand that French and John McCain are not exactly allies. At least, I cannot prove any such thing at this time. French is probably going to jail. I would like to know who wired Andy's Scottsdale bank and the Silver State together and why. Just because I'm a curious person.

Of course, if McCain is elected, the whole thing, including Silver State's cozy relationship with Casavant will ever become public.

out loud. It's kind of a touchy topic in Arizona.

No McCain ..ahem...French Connection needed (sorry, you bring it out of me) for Andy to be worthy of his very own investigation.

He audited the place.

$2,5 mil on a temporary check? HOLD written across the next $2.5mil temporary check? Hundreds of transactions for hundreds of thousands of dollars? Checks CASHED for $350,000??

What was that they said about Iran Contra? Either you knew, or you should have known.