Monday, May 17, 2010

Will (Obama) Bail out ShoreBank?


The American Spectator:

"It's actually kind of awe-inspiring to see the effort being expended on this bank," says the head of a U.S.-based bank's Washington office. "You've had something like 70 or so bank foreclosures, and you could argue that some of those were better bets to recover than ShoreBank, but because of the Clintons, the Obamas, the Moseley Brauns of the world, and ShoreBank's sentimental value because it supported their community organizing efforts, it should be saved. None of them were saying that about the bank in Wisconsin that kept family-owned farms afloat. Wonder how those banks' investors feel about the Obama Administration's lack of interest in them."

Bitter clingers of course.

Earlier: Crony Capitalism in Chicago.

Earlier Schakowsky challenger (D-9th) Joel Pollak post:
Federal Election Commission records reveal that ShoreBank executives and employees gave thousands of dollars to Rep. Schakowsky and Sen. Durbin.

They also gave heavily to Barack Obama's presidential campaign. Indeed, Crain's Chicago Business reports that "President Obama and the first lady are former neighbors of ShoreBank executives."

Other ShoreBank-related contributions include Democrats across the country and left-wing organizations such as

The ShoreBank bailout would seem to be more of the same Blagojevich-style, pay-to-play politics that Illinois has suffered under for too long.
Oh, and Obama's preacher of hate of nearly 20 years, the Rev. Wright is connected too.

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