Monday, June 21, 2010

ShoreBank Bailout Funds in Question

Crain's. Tribune:
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.

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