The Spectacle Blog
ShoreBank Prez: White Bankers ‘Deserve to be Pressured’
Crain’s Chicago Business reports that politically-connected, Obama/Clinton-favored ShoreBank got extra nervous this week when Congress killed TARP in order to help pay for measures in the financial reform bill, but according to an anonymous administration official, the community lender with a global heart is still alive as those who applied before June 25 still qualified for funds.
Crain’s Chicago Business reports that politically-connected, Obama/Clinton-favored ShoreBank got extra nervous this week when Congress killed TARP in order to help pay for measures in the financial reform bill, but according to an anonymous administration official, the community lender with a global heart is still alive as those who applied before June 25 still qualify for funds. Still, despite massive help from the likes of Goldman Sachs and Citigroup, the Fed is still doubting ShoreBank’s TARP-worthiness.
Yesterday HuffPoster Karen Harris weighed in with a passionate argument for saving ShoreBank:
Since its inception in 1973, ShoreBank has been a model bank committed to social justice. ShoreBank’s mission has been to develop a triple bottom line of social responsibility, environmental responsibility and profitability, or “people, planet, profit.” ShoreBank’s website describes it as, “America’s first community development bank.”
You know, the same recipe that has ensured the success of financial institutions from the beginning of time. But I digress…
Last week we heard that Illinois Financial Authority chairman Bill Brandt promised “a firestorm” in Chicago if the Federal Reserve did not follow through with a bailout. This followed the reports of arm-twisting from the administration to get the Wall Street institutions to help ShoreBank qualify for TARP.
Mary Houghton
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http://spectator.org/blog/2010/07/02/shorebank-prez-white-bankers-d
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matthew s harrison| 7.4.10 @ 7:02PM
Go figure, another left-wing woman with ties to obama pillages a bank, and leaves the taxpayers holding the bag.....just like miss Pritzker and Superior Bank, this loon is all about making bad loans to those who don't qualify-as long as the taxpayers(the ones who pay taxes) will come to the rescue and not get her hung by her toes by the investors at the bank. Funny how these left-wing zealots are so willing to piss away everyone's dough but their own! Having been a VP at Superior Bank's non-prime lending organization, Alliance Funding, I can only imagine how this woman will leave another 400M or so of investor money in the sewer, only to expect FDIC and others to bail them out......Funny though-Penny Pritzker and her siblings have yet to pay back the depositors they were personally liable to-10 years later! Gag me. These cockoo birds have to go! They have no business running businesses where there is a chance the taxpayers will be left holding the bag. When it is a conservative business, there is always management liability, but when libtards are at the helm, the taxpayers are always holding the bag. Funny how that works out each and every time!
Long Ben| 7.5.10 @ 2:30AM
Wonder if the geniuses in the hood will burn down their own neighborhood if Shorebank is not successful in extorting the rest of it's neighbors in the other fourty nine states ?
Republichic| 7.16.10 @ 1:29PM
When will someone in Congress stand up and make Obama accountable? This so-called bank is nothing more than a front for redistribution of wealth and a crooked scheme to suck the money out of our salaries through taxes and invest in the Climategate Hoax. While all the green jobs go to prisoners and miniorities, all the supplies and equipment to build green structures, etc. will make millions for the "green" crowd that opened and operates this bogus bank. Between money being distributed in poor countries, and ACORN offices for them to do their illegitimate activities, what's left goes in the pockets of you know who. How many criminal acts are excusable before we can expect our laws to protect us? I am sick and tired of this double standard. Talking about racism...take a good look at this bank and follow the money.