Bailout

What’s Good for Jeffrey Immelt Is Good for America

By on 1.21.11 | 5:15PM

On April 22, 2009, GE CEO Jeffrey Immelt entered a raging controversy at the University of Notre Dame surrounding an upcoming commencement speech by Barack Obama with an op-ed in, of all places, the Notre Dame Observer.

Without addressing any of the issues in contention, namely Obama's pro-choice policies and the school's obligations as a Catholic institution, the article expressed Immelt's wholehearted support for Obama and his upcoming speech. What made the article so odd, beside the apparent cluelessness of the author, was that the CEO of GE felt it necessary to add his opinion to an argument involving Notre Dame. Immelt is not a Notre Dame alumnus (he went to Dartmouth), he doesn't have affiliations with the university other than a commencement speech he gave in 2007, and he's not Catholic. One would think that the CEO of one of the largest companies in America would have better things to do than writing an op-ed for a student newspaper picking sides in an essentially intra-denominational controversy. So why would Immelt weigh in?

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Chicago Politickin’ Helped ShoreBank Survive

By on 8.25.10 | 11:51AM

The survival of Clinton/Obama-favored ShoreBank (and its progressive agenda) can be attributed in part to the aggressive intervention of Chicago-area congressmen and power players, as I explain today over at the National Legal and Policy Center.

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Split the ShoreBank Baby?

By on 8.10.10 | 9:19AM

That's one proposal on the table, according to a report yesterday by Charlie Gasparino of Fox Business Network.
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Bailing Out the Enviros

By on 7.8.10 | 4:25PM

Speakin' o' the Greens, over at the National Legal and Policy Center I explain how the pursuit of a bailout for politically connected ShoreBank is nothing but saving the liberals' from their redistribution schemes.

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ShoreBank Prez: White Bankers ‘Deserve to be Pressured’

By on 7.2.10 | 3:09PM

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.
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Denial Runs to the Shore(Bank)

By on 6.25.10 | 11:30AM

Earlier this week the White House issued denials to the Chicago Sun-Times that it played any role in pressuring Wall Street firms (including Goldman Sachs and Citigroup) to ante up $20 million each to help bail out the presidentially pampered community institution, ShoreBank.
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ShoreBank Bailout in Doubt

By on 6.23.10 | 5:00PM

Despite $140 million in commitments from deep-pocketed monsters of the TARP (Goldman Sachs, Citigroup, JP Morgan, GE Capital) that would have helped it access its own asset-relief funds, the Federal Reserve says Obama-connected Chicago lender ShoreBank still falls far short of the funding it needs to avoid a FDIC slicing-and-dicing.
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Good-Bye, ‘Bailout Bob’ Inglis

By on 6.23.10 | 12:00PM

In recapping the GOP primary runoff in South Carolina, Jim Antle neglected to mention the result that rendered this a trifecta of good news for limited-government conservatives: The defeat of Rep. Bob Inglis, who voted for the 2008 TARP bailout and lost Tuesday by more than a 2-to-1 margin to Trey Gowdy. As National Journal's Reid Wilson notes, the TARP vote was also a factor in the gubernatorial primary:

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Saving Two Presidents’ Favorite Bank

By on 6.17.10 | 2:20PM

While many similar financial institutions have been allowed to fail, Chicago-based ShoreBank is getting propped up by the Obama Administration, which allegedly pressured Goldman Sachs, Citigroup and others to send some cash to the community development lender.
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