Thursday, June 17, 2010

A Congressional Investigation of ShoreBank

Paul Chesser, TAS:
I've weighed in over at the National Legal and Policy Center with a "remember when" piece, about how the two top directors for the Community Development Financial Institutions Fund were caught steering nearly one-third of CDFI's 1996 awards to ShoreBank entities -- also known at the time as "Clinton's favorite bank" -- with no records explaining why they were granted the money. Rep. Spencer Bachus, Alabama Republican, has requested records related to the White House's alleged pressure on the big banks to help. He was the one who led the investigation into CDFI/ShoreBank back in 1997-1998 as well.
It would be good if we could take back Congress--maybe then these investigations would be able to go in depth. Good luck under the Dem majority.

Related: Anti-ShoreBank Tea Party, Jan Schakowsky's Personal Piggy Bank

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