"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.

"The younger McCain, who is the chief financial officer of Hensley & Co., the beer distributorship of which Cindy McCain is chairwoman, is the Arizona senator's adopted son from his first marriage.

"Silver State Bank ran into difficulty because of a substantial amount of "poor-quality loans primarily related to real estate development" in southern Nevada and other distressed markets, FDIspokesman David Barr said.

"Silver State Bank has operated 13 branches in the greater Las Vegas area and four in the greater Phoenix-Scottsdale area of Arizona as well as loan offices in Nevada, Utah, Colorado, Washington, Oregon, California and Florida.

"The FDIC estimated its resolution will cost the deposit insurance fund between $450 million and $550 million."

It's ironic that when Neil Bush's Silverado folded, the federal regulators said it would cost between $450 million and $600 million for that bank's closure.  When it finally closed it cost the American taxpayers $1 billion.

Are we witnessing deja vu all over again?  And will junior McCain also skate free of accountability as Neil Bush did, because his daddy is the Republican presidential candidate and, typical of Republican regimes, another GOP elephant flings pachyderm pies at the American taxpayers to clean up, as they did after Neil Bush?