John Bush’s Son’s Bank Just Failed
The FDIC just declared Silver State Bank in Nevada a failure (h/t this DKos diary).
From February to July, Andrew McCain, son of Presidential candidate John Bush, served on the Audit Committee of Silver State. Under Andrew McCain’s guidance, the bank lost $73 million. Now, along with serving as foster parents for troubled siblings Fannie and Freddie, you and I are going to have to insure the savings of Silver State’s depositors.
No wonder Tom Ridge can’t tell the Bushes and McCains apart.
That’s change we can believe in.
I seem to recall Silver State Bank being involved in some other Republican scandal, but there are so many, I can’t remember which one. Renzi? Gibbons? Something else?
Unless somebody here remembers, I’ll have to see if my google skills are better than my memory…
So are family members still off limits in the campaign? McShame had better hope so, but I don’t see this one getting entirely lost in the shuffle.
There was reporting on it when
BushMcCain resigned (which is when it became clear the bank would fail)–that might be it.For the guy who joked that Chelsea Clinton was so ugly bc Janet Reno was her father?
I don’t think so. Besides, family is off the table for Obama and Biden. Not for DFHers.
day-um… was he taking bidness lessons from Neilzie and Preznit Pudknocker?
Oh…sniff…it’s so heartwarming to see a son follow the road once traveled by his father. Now, John could only touch such circumstances vicariously through the largesses of one Charles Keating, but it is so heartening to see a young man surpass his father…sniff…just beautiful, man….beautiful…I’m gonna need a moment…
OT: I have a confession to make. I read parts of Sarah Palin’s speech, but I didn’t watch it when she gave it. I just caught the highlights video from “The Daily Show”. THIS is what everyone’s raving about? She was one of the Heathers reading off a teleprompter. What the hell was the big deal?
Well, she’s got boobs, ya know.
Agree about the Heather bit.
And watch the way Biden responded–precisely what I was thinking. She was the snotty girl who made fun of the things you cared about.
I checked Edgar. It looks like Andrew resigned June 26, citing personal reasons.
The bank is located in Henderson, NV. It got in trouble with construction loans, and ordered appraisals of its collateral in the spring. Apparently this turned out really badly, so badly that one piece of property resulted in an increase in loan loss reserves of $11MM (and corresponding increase in net loss). Shareholders equity was $69MM at June 30, down from $157MM Dec. 31, 2007.
I wonder if Andrew managed to dump his stock in time. Did you see any sales by him?
When he first resigned, I did a little digging and got all excited because a Silver State Mortgage was a primary player in the losses at Countrywide. I couldn’t find any overlap in the executives for the two organizations, though.
Sometimes the only way to find the daisy chain is to examine actual transactions, perhaps among a number of banks. That kind of analysis found a big one in TX, as described in the “construction” links I made upstairs. Black says (p.54):
It takes a lot of manpower to uncover just one such “mutual aid society.”
Ah, construction loans! (Another)
Silverado = Neil Bush. http://en.wikipedia.org/wiki/Neil_Bush
Yet another close connection between the Bushies and McSame. Poor ol’ Tom Ridge, confusions one after the other.
No sign of sale, but he owned 1126 shares of stock on his initial Form 3, dated February 20, 2008.
Silver State Bank did a lot of SBA loans, especially right before the recent merger.
I’m not sure if those were the loans that tanked or not but the shitpile has moved way beyond the home mortgage meltdown.
How much is this going to cost us?
The deposit insurance fund isn’t funded by taxpayers, but by premiums charged to banks. Only if it runs out of money will the taxpayers have to pay. The fund held $52.4bn at 12/31/07.
The FDIC is raising insurance premiums on the banks and thrifts to replenish their fund.
As taxpayers, we might not have to pay, but as bank customers I think they are gonna get us, one way or another.
I bet the guys running Silver State have multi-million dollar golden parachutes.
Yup, tis true. We always pick up the tab!
You ever here of a business that didn’t pass its cost increases on to its customers? Me neither.
And this is why John-boy McSame always lets Cindy handle the money.
Have you noticed Cindy’s arm since the Convention. She’s wearing a cast on her right arm and it’s all covered in pink or red like people signed it with highlight pens.
I guess John arm-wrestled her for some cookie jar money and she got hurt.
Maybe his campaign is getting a little tight for money. Where could he get more quickly?
Another take on it – I thought she removed the cast at the convention because it clashed with her seven figure outfits.
No model in her right mind would tiptoe down the runway of the Miss Brewski 2008 competition in a cast. How gauche! It just isn’t done in brewski distributor circles.
But now out on the hustings again, it’s all about getting the sympathy vote: “Oh poor ol’ lil’ ol’ me. I’m hurt so vote for my husband.”
Audit committee??? Audit committee!!! These are the people who are supposed to oversee the company’s financial health. They’re supposed to be impartial, and skilled in financial matters.
Now if the Feds would just go after people who violated their fiduciary duty . . . Oh, right. Currently the Feds are Republican.
OT — Regarding Palin’s husband’s business partner’s divorce records: Mommy, what does “Order Denying Motion Case Motion #3: Motion to Make Case File Confidential” mean? Guess we’ll be learning much more about all that right quick.
Failed Bank List, since 2000, from FDIC. Their top page links to official releases on Friday’s two failures.
Sorry, only one failure Friday.
ENTRAPMENT OF THE AMERICAN PEOPLE:
This bank’s collapse has been in the pipeline for a couple weeks. Like Bush’s son, Neil, McCain’s son is right smack in the middle of costing US Taxpayers (and bank depositors) millions.
With the announcement that both Freddie and Fannie have now been taken into receivership by US taxpayers (saddling us with the debts while the banksters pocket the profits), the entire fiasco is on display for those with eyes willing to see. The country is completely bankrupt, and it it was all done on purpose in less than 8 years.
The only way to implement a fascist dictatorship is to take total control of people’s financial lives. By using Greenspan and the Presidency to pimp cheap (apparently) cheap mortgages – implying that real estate would never fall across the board – the entire country was victimized by a giant and intentional ponzi scheme, designed specifically to enrich the rich, bankrupt the middle class and entrap them into debt slavery – with the government as the mortgage-holder. All profits were privatized, while all debts were federalized. That means YOU are 100% responsible for the intentional risk taken by the banksters, now matter how conservatively you have managed your own finances.
When Biden supported the new bankruptcy laws at their very top of the mortgage/debt bubble, he did so on behalf of the very banksters who own and control the US Congress, control the entire electoral process, and have destroyed America once and for all.
Mission accomplished.
John McCain is the face of this intentional evil – the man chosen to carry David Rockefeller’s (Goldman, Exxon, JP Morgan/Chase, CFR, etc) plan for total control over the masses to its final conclusion.
McCain Says Major Financiers Will Back His 2008 Bid
December 15, 2006
One of the most prominent on the list of finance committee co-chairmen is the head of the New York Stock Exchange, John Thain. Mr. Thain, whose title is CEO of NYSE Group, Inc., previously served as president and CEO of Goldman Sachs Group, Inc.
A New Jersey-based investment banker deeply involved in fund-raising efforts for the 2004 Republican convention, Lewis Eisenberg, is signing on with Mr. McCain. Mr. Eisenberg is a former Goldman Sachs partner who served as chairman of the Port Authority board at the time of the September 11, 2001, terrorist attacks.
WHAT A FUCKING COINCIDENCE!
It was Eisenberg who passed the $15 billion Asbestos Liability represented by the Twin Towers onto Larry Silverstein. Whose Asbestos liability?
HALLIBURTON’S ASBESTOS LIABILITY!
When Cheney was the CEO, he acquired Dresser to save the Bush Family’s ass. Dresser made Asbestos, and the liability law suits were going to wipe them out. Cheney took one for the team when he acquired Dresser and all its asbestos liability claims (HAL was punished in the stock market)…the biggest of which was the WORLD TRADE CENTER, a $15 billion albatross that the Port Authority was hard pressed to get rid of.
When the Port Authority unloaded the buildings onto Silverstein, the fix was already in. Cheney literally ran the entire operation on 9/11 (as witnessed by Mineta) and used Dov Zakheim’s SYSPLAN technology to guide the CONVERTED FUEL TANKERS to their targets (remember the huge fireball that exploded OUTSIDE the building?).
It was Cheney who instructed Christine Todd Whitman to lie about the levels of asbestos at ground zero, because he didn’t want people to make the connection that the entire operation was simply arson on a grand scale, which eliminated a $15 billion liability from Halliburton’s books.
Need more evidence of the quid pro quo?
GW included the issue in his State of the Union speech in 2005.
“To make our economy stronger and more competitive, America must reward, not punish, the efforts and dreams of entrepreneurs. Small business is the path of advancement, especially for women and minorities, so we must free small businesses from needless regulation and protect honest job-creators from junk lawsuits. (Applause.) Justice is distorted, and our economy is held back by irresponsible class-actions and frivolous asbestos claims — and I urge Congress to pass legal reforms this year.”
What does all of this have to do with McCain’s son and the failure of yet another bank?
As long as you continue to analyze every “tree,” while failing to step back and view the entire forest (in context – from 35,000 feet), you’ll never quite get your head around the extent to which reality has been stood on its head – by whom, and to what end.
The agenda is so massive and so evil, your mind will not allow you to accept the reality – and they rely on that.
It might be big, but a lot of the time it’s just something done behind closed doors and we don’t have the capability of seeing or connecting the dots. It’s beyond human capability. But, when it is out in the open, and presuming journalists do a decent job, the people can at least see the outlines of the beast. Of course, they usually feel incapable of doing anything about it and our political leaders don’t always get to the heart of the matter because they want their careers individually to continue.
Focused tight-knit teamwork is required and money buys that readily, but ideology doesn’t always get you there consistently over time.
If what you’re saying is true, and much evidence says it is, then what we have are individuals buying their way onto the national stage. I wonder if McCain’s veep pick, Sarah Palin, is somehow doing the same — how else could someone of her stature make the leap.
Right now a lot rides on Obama and we really don’t know how much he can do. As Bill Clinton said, making him the nominee is a gamble. But, if we’ve done the right thing (and I voted for Edwards, so don’t complain to me if … oh wait, that didn’t work out either, never mind) then Obama might pull through with a lot of support from his team.
Clearly there was a conspiracy between Libby and Cheney. Conspiracy is a legal term. Can we all be adults and discuss this and other related conspiracies without being accused of being “Conspiracy Theorists?”
It’s time to raise the level of discourse where the term “Conspiracy” is concerned:
http://www.globalsecurity.org/…..ug2005.htm
We’ve all been conditioned to snicker and ridicule when non-professionals offer theories about conspiracies. It’s time to talk about all of these theories and unravel the whole thing.
Libby’s outing of Plame shut down Brewster Jennings- an act of High Treason. Armitage is said to have played a role, and is subsequently knighted by the Queen Of BP, but you know nothing about it.
In one of the worst cases of foreign espionage since the Jonathan Pollard scandal AND the AIPAC/Franklin spy scandal (passing national security secrets to Israel), Aerial Joseph Weinmann was arrested last year and charged with passing US Nuclear submarine secrets to Israel, and you know nothing about it.
TREASONOUS ACTS OCCUR DAILY – AND YOU KNOW NOTHING ABOUT IT.
That’s related directly to control of the media…as in TOTAL CONTROL.
Media ownership study ordered destroyed
Sept 14, 2006
‘Every last piece’ destroyed
Adam Candeub, now a law professor at Michigan State University, said senior managers at the agency ordered that “every last piece” of the report be destroyed. “The whole project was just stopped – end of discussion,” he said. Candeub was a lawyer in the FCC’s Media Bureau at the time the report was written and communicated frequently with its authors, he said.
http://www.msnbc.msn.com/id/14836500/
“You can’t tell any more the difference between what’s propaganda and what’s news.”
FCC Commissioner Jonathan Adelstein
15 August, 2006
TO CALL ALL OF THIS A COINCIDENCE WOULD BE INSANE.
plunger
That’s enough. If you’re going to write 10 inch columns, keep them on topic, or you’ll lose your posting privileges.
Thanks.
EW:
I appreciate very much that it is in fact a privilege to post here, and very much admire the research, writing and hard work that you and others put in here. I’m simply at a loss to know what urgent actions to take (other than the example above) to protect my country from its imminent demise. I feel as if the ONLY way to counteract the total brainwashing done to our fellow citizens is with massive doses of not just partial truth, but entire truth, in context. Without context, each headline just blurs into the last, as the globalists kick the can further down the road – as we the people simply are overwhelmed, and tune out.
I know that you share my concerns, and can empathize. The problems I envision go so far beyond the headline du jour or scandal du jour or politician du jour, that the actual problem, the conspiracy itself, seems never to be “on topic.” Whereas every scandal is absolutely connected in some way to every other scandal, context is critical.
If there were a web-enabled tool that could graphically portray how every new headline connects to prior headlines (sort of a “six degrees of separation” for news stories), it would be invaluable in portraying the actual methods by which events are unfolding, and why.
I’ve not been a conspiracy freak by nature, and only came to most of these realizations commencing in about 2003 when I first heard the story about the “Dancing Israelis,” and found that I could make no sense of it (try as I might), without venturing into the conspiracy zone. My research on any number of topics has in fact been confirmed by individuals deep on the inside.
When you are told straight out that “nothing is as it appears – virtually nothing,” by someone in a prime position to know the entire truth, what do you do to alert your neighbors and countrymen that the reality they perceive is all contrived?
To be sure, the “topic” will never be “vast conspiracy,” will it? But there is one, I guarantee you that. I will endeavor to “color within the lines” as you request, though my view of the lines is pretty broad from 35,000 feet. This story is absolutely part of the Silverado story. I’ve met Neil Bush, and his father. Neil’s father is the primary actor behind more crap than you can begin to fathom, and I have direct knowledge of plenty of it. It’s ALL connected.
Every story connects to every other story in some way – and I perceive that connecting the dots is mandatory if true understanding is to be achieved. There are no coincidences.
Thank you for listening.
Think of it this way. I work very hard to encourage a conversation–it’s a way to get EVERYONE seeing the connections. When you–or anyone else–then walk into the middle of that conversation and try to dominate the floor with comment after comment after comment, you actually destroy the conversation, and the fruits of my effort.
People discover connections by discovering themselves. Not by having someone barrage them with those connections.
I certainly never want to do anything that destroys the fruits of your effort. I’m the greatest proponent of free-wheeling conversation, and would never want to stifle one – though your observation is certainly accurate. I’ve never perceived that my posting inhibits anyone else from posting their own thoughts. If that is the case, then I need to take that to heart…but also seek to understand the total dynamic at play – not just between you and I, or about this site in particular, but in the broader context. This medium is designed to enable non-stop commenting, so I’ve never perceived that my own commenting would limit the opportunity for others to do the same. If it does, understanding why that is so is very valuable.
I have noticed that there is an unspoken chill that is cast over every online forum when the discussion turns to conspiracy, and that is the result (in my opinion) of years of conditioning by the media. What you have clearly identified as a conversation limiter (my posting thoughts related to conspiracies) is in fact precisely on point with my prior post. Ari Fleischer warned the media and all of us to be careful what we say in the aftermath of 9/11. George Bush warned us not to discuss wild conspiracy theories. It seems to have had the desired effect – and your observation has in fact been well received.
I have no desire to “dominate the floor,” as I perceive that the medium itself provides for the opportunity for anyone to interject at any point. On blogs where the comments come at a much faster pace, the perception would not be the same as it is here when I post two or three thoughts back to back (to lend context), as they would simply fall into the flow.
As I said, I take your comments very seriously, and will endeavor to do as you wish. I note that there was a seven-plus hour gap in the “conversation” before I made two postings this morning.
With utmost respect – Plunger
Think of what it does graphically and physically: you put long text blocks, several of them in a row. That’s visually unappealing, but you’re also forcing people to scroll past your comments, which is a pain in the ass and ALWAYS leads to some people giving up. If the comment is interesting and on point, people might make the effort. But if you post a bunch of these that are off point, people are going to give up.
You’re not the only one who does it–but everyone who does it is really hurting the conversation.
My problem with your rants is not so much their length, though there is that, but two features that have caused me to simply scroll past them when I see who is the author. First, I have tried to connect the dots you lay out, and they don’t logically add up. There are too many non sequiters to keep up with; I finally get tired, even though I concede that given enough lenience, and perseverence, you may eventually persuade me. Second, there is this snotty tone that we are all stupid dupes who simply can’t see the TRUTH that’s before our eyes. I suggest you get your own website and do your best to communicate whatever you have to offer.
Savings and Loan Scandal
http://www.counterpunch.org/stclair04032004.html
http://query.nytimes.com/gst/fullpag
e.html?res=9C0CE2DC1F38F930A25754C0A966958260
This is a pre-requisite (or call it a litmus test) for GOP presidential nominees: have a close family member (son or brother) that failed a Bank and will cost US taxpayers hundreds of millions of $.
Honestly, I’ve lost count with how many times I’ve posted my story but what’s important and relates well with what is happening is that this is a White House Coup. I was in a family for more than 26 years who is part of it even though their part involved laundering Drug and Gun Running money straight into property using high Administrators in Big Banks. They brag about being a CIA Asset and they’re job of Laundering supports CIA Operations. They started in the late 70’s with laudnering for Argentina’s Dirty War. It was only lately that I read about the horrors that took place but remember many stories mentioned in the family regarding the same.
What was told to me in the 90’s was that everything starts when something big happens. Something big as explained to me was 911 only at that time three sites were being reviewed with one being New York. Afterwards, the ecomony will collapse caused by a breakdown in the finanical area starting with the Home Industry (loans). The Bush family has a history of criminal activity with breaking down Banks, I suggest everyone read about it on the internet. And while you’re reading, read what Sible Edmonds, a FBI Whitsleblower has to say about who is involved at the high end with our Nuclear secrets and materials. There’s also many other whistleblowers, also read about them. They are all Heros.
This WH Coup is similar to the one in 1933 that now involves the same groups with many more added. It’s huge. I personally know that the DuPont family is again involved and everyone is going to be very surprised to learn what they have been doing. I doubt if anyone will believe what has been happening in Illinois regarding the Hospitals all these years. My family knew Obama and the crmiminal group felt he was their Shining Star and moved him up in the Political system. This is why in the Rezko trial many very interseting people’s names surfaced among Obama’s. My youngest son, to my dismay is invovled with Obama. Guess who got him involved?
Back in the 90’s I was threatened that “When “The Change” comes, you’re either WITH us or you’re NOT. If you’re NOT, you’ll end up in one of the Prisons (Detention Camps).” That was in the 90’s and more than a year ago, Halliburton was granted a project to build “Detention Camps” around the US. There are pictures on the Internet, go see them… People have reported box cars waiting in storage and some have shackles mounted. I can’t confirm if the shackles are true or not. The Box cars were talked about in the 90’s.
To me what we’ve been witnessing is a massive money grab all over. Why? The answer seems to be to bring down the economy in preparation for “The Change”. Remember, I was told this in the 90’s.
The family knew about 911 in the 90’s, they also knew about the Brown’s Chicken murders in Palatine, IL before too. Since the family started in the criminal system, they started slowly. Like my youngest son, it was “put your little toe in and try it out”. However once you do anything, almost immediately you’ve gone in too deep to get out. Also, the criminal system uses very extreme and dramatic horrible situations to build FEAR into their members. They all are told before something happens so they know what to look out in the news. The family became extremely paranoid after something serious happened and that seems to have sealed their lips from talking. It works. I’ve witnessed it myself by living with them for more than 26 years.
This crminal system has been with us since the day our country was founded. It came into focus before WWII and that was when Prescott Bush worked with Hitler to lend his movement money. We had at that time a Brown Shirt movement which today still remains only in a different way. Obama is a Team member according to the family. If you look closely you should see so many links here and there that it will make you head spin.
Hopefully there is a movement to remove the hard core element out of our system. Right now we are all being mislead to believe we have an election process. We don’t. I was told that out of every 10 lawmakers involved in this Coup in Congress, 7 are Republicans and 3 are Democrats. Today we have only two groups, one is FOR the Consitution and the other isn’t for the Constitution. Once the hard core element is removed, hopefully there will be a change in direction with where our country is headed.
Marty Didier
Northbrook, IL