Free Republic

Scandal: Sometimes banks are too small to fail, such as when they are in the president's hometown, deal with the president's friends and serve the president's agenda. Or should we perhaps say too connected to fail? ShoreBank's Web site boasts: "Van Jones saves at ShoreBank so his money fights for green jobs just like he does." It proudly notes, "According to former Vice President Al Gore, 'Van Jones demonstrates conclusively that the best solutions for the survivability of our planet are also the best solutions for everyday Americans.' " That may tell us all we need to know about ShoreBank...

I have found evidence that may explain the intense interest of Rep. Jan Schakowsky (D-IL) in bailing out ShoreBank, the “community development” bank that has received extraordinary assistance from her and several other “friends in high places.” The New York Times confirms that Rep. Schakowsky played a leading role in the ShoreBank bailout. Yet ShoreBank is not based in Rep. Schakowsky’s congressional district, and she did not help the Bank of Lincolnwood–which is in her district, and failed in 2009–or Park National Bank, which was also active in community development in Chicago until it was closed by federal regulators last...