Posted on 08/21/2010 4:23:37 PM PDT by Justaham
Illinois Congressional candidate Joel Pollack discusses the failure of Shore Bank, a bank with many connections to the Obama Administration.
(Excerpt) Read more at breitbart.tv ...
Yes, but it’s George W. Bush’s fault... AGAIN.
MMM MMM More!
See what happens if Maxine Waters doesn’t have a relative on the board?
I hope the article is wrong, but I read one here earlier that said Shore Bank was going away, but only sort of??? I much prefer the scam to be gone as this one insinuate.
No ...they sold it to the CURRENT failed operators....unheard of...
Skullduggery for sure...
*
All it is, is a front for their scam the chicago carbon exchange. zero and algore are big in it, among others.
The Market Ticker guy has a blog entry today which addresses the strange math involved in this particular bank’s demise and rebirth.
Maybe it will be some kind of little foolish misbehavior motivated by simple greed/avarice which will be the key to neutering this administration - not something dramatic at all, like a Kenyan birth certificate waved around at a press conference or an overwhelming GOP victory this November, but something more like some kind of bank fraud uncovered and only understood by CPA types.
In a story I read earlier this week, 1/3rd of the workers at CCX were recently laid off as the price for carbon credits is going south in a big way. The story I read was that more layoffs are expected soon. These scammers are loosing their butts. HA!
Joel Pollack is a long shot to knock leftie Jan Schakowsky out of her congressional seat. He deserves all of our support.
russell branyan!!!!!!!!!!!!!!!!!!!!!
http://mlb.mlb.com/news/article.jsp?ymd=20100821&content_id=13737914&vkey=news_mlb&fext=.jsp&c_id=mlb
The headline is a COMPLETE LIE.
It didn’t go under .. just got renamed
and re-capitalized.
Same purpose - govt money thievery for the
redistribution of wealth to the underprivileged
for continued vote buying.
Same villians - lib/progressives/big money financial
lackies.
Same victims - the US taxpayers and their progeny for
God knows how many generations.
In an unusual move, the FDIC allowed some of ShoreBank's executives to continue managing the restructured bank, now known as " Urban Partnership Bank. " The recently hired ShoreBank managers "did not contribute to the bank's problems," the FDIC said.
ShoreBank lost $39.5 million in the second quarter as its real estate loans soured. The bank had been under a so-called "cease and desist" order from the FDIC for more than a year, requiring it to boost its capital reserves.
The Bank was able to raise more than $146 million from several big Wall Street institutions.......... members of the newly chartered Urban Partnership Bank include Goldman Sachs Group Inc., Citigroup Inc, Morgan Stanley and Wells Fargo & Co.
The MacArthur Foundation also owns a share, the FDIC said.
The FDIC and Urban Partnership Bank also agreed to share losses on $1.41 billion of ShoreBank's loans and other assets.
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They say $75 million in anticipated funding never materialized from the fed's bailout funds for failing banks............betcha G/S got tax dollars to do the deal.....thanks to G/S insider, Rahm Emanuel.
I just hope there's no illegal conversions of federal funds going on here (/snix).
Isn’t this the bank that Beck said was a part of “crime Inc”? It has close ties to all the obama gang
Yup.
Yes.
And yes.
Yep..and remember..just a week or so ago Obama signed that ex order that says no more transparency(FOIA) requests of the FDIC and SEC will be honored. How convenient....(eye roll).
These people are robbing this country blind!
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