The use of federal dollars to bail out $2.3 billion-asset ShoreBank, which prides itself on helping hard-hit areas, provoked a backlash in the last month. An attendee at a recent Chicago protest over bailing out ShoreBank noted that Park National Bank, which was also active in the community, was allowed to fail. Some have also called for a congressional inquiry into the ShoreBank matter.We're watching this one.
No more insider bailouts funded by taxpayers. No more thuggish shakedowns of the private sector by the Obama administration either.