ShoreBank, a Chicago-area community lender praised by Democrats, was taken over by the government Friday and its assets sold.
Chicago-area Democrats pushed hard for regulators to extend bailout money to the bank from the government’s $700 billion aid program. The bank was praised by President Clinton and numerous other lawmakers and industry players. The bank was started in the 1970s…
Now I’d like there to be a minute examination of the banks books – if Democrats wanted to save this bank, there must be something screwy going on in there. They just don’t do that for any, old bank – always, always Democrats direct their bail out efforts towards those people and institutions which help Democrats. And I am doubly interested because it is a Chicago-area bank…not an area of the country noted for business and political ethics.
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