In timing that Martha Stewart could totally get behind, one of John McCain’s sons bailed off the board of Silver State Bank just before the FDIC shut it down. The $2 billion asset financial institution got in trouble because of risky real estate loans.

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, FDIC spokesman 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.

Let’s see, the quality of your loans seems like something the members of your board’s audit committee should keep an eye on.

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.

Andy jumped off the sinking ship just before it went under. A good auditor would have seen this coming and recommend a more prudent approach by the bank. Then again, why not just let the little people pay for rich people’s gambles? That’s what Andy’s dad did, after all.

John McCain was one of the “Keating Five,” five senators who were in the pocket of Charles Keating, chair of the board of Lincoln Savings and Loan. Keating exchanged campaign contributions for help in keeping regulators from doing their job and stopping similar risky gambits. The unhappy ending, of course, cost the taxpayers nearly $125 billion when the savings and loan industry shut down.

I doubt Andy’s worried about a job though.

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.

It’s nice to have a rich mom. Or in John McCain’s case, a rich wife.