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Lloyd Blankfein Saves Chicago Community Bank That Just Happens To Have Ties To Obama And Bill Clinton Joe Weisenthal May. 13, 2010, 10:11 PM Look! Goldman Sachs (GS) is committing an act of generosity. The much-reviled Wall Street firm is in discussions to make an investment in South Side Chicago-based community bank ShoreBank, according to WSJ. Apparently the bank has one more day to become adequately capitalized, or else. As the article notes, though, there appears to be a political angle. ShoreBank is from Obama's old neighborhood, and in fact the bank is involved in microcredit, and Barack Obama once...

Robert Creamer, a central subject of two recent James O’Keefe exposés broken this Monday and Tuesday, has resigned “from his responsibilities working with the campaign.” Second Veritas Video: DNC Operatives Admit They've Rigged Elections for Half a Century

Related: David J Vitale: http://www.muckety.com/David-J-Vitale/5794.muckety "Urban Partnership Bank Chairman David Vitale on ShoreBank, Federal Aid for Banks, and Detroit’s Troubles" http://www.chicagomag.com/Chicago-Magazine/April-2011/Urban-Partnership-Bank-Chairman-David-Vitale-on-ShoreBank-Federal-Aid-for-Banks-and-Detroits-Troubles/ UPB link: https://www.upbnk.com/faith-based Board: "Urban Partnership Bank names board" By Becky Yerak Posted Aug. 27, 2010 Urban Partnership Bank, the newly formed group that last week bought failed Chicago-based ShoreBank, has named five-people to its board of directors. It includes three former First Chicago executives who had joined ShoreBank in recent months during its last-ditch and ultimately unsuccessful effort to raise capital so state and federal regulators wouldn’t seize it. Those are David Vitale, who, as previously reported, will...

Crain’s Chicago Business reports that Alvin Boutte, Jr., the adviser who encouraged the state to invest in Democrats’ beloved ShoreBank as it was failing, has agreed to pay a fine, to have his securities license suspended, and to work under “heightened supervision” in the securities industry for the next year. The ShoreBank scandal erupted in 2010 as Chicago Democrats, particularly Rep. Jan Schakowsky, tried to bail out the bank using any means necessary–whether federal, state, or private money. The bank’s closure was delayed several times–evidence, critics charged, of preferential treatment from the Obama administration. Eventually, under pressure from the Tea...

"..this blog focused upon the Obama regime's nefarious plans to enslave the 3rd world to debt, as this blog traced Stanley Ann Dunham Obama Soetoro's sadistic plans as a once sociologist who became a banker for the globalist Ford Foundation, under Tim Geithner's old man's direction in Indochina..........to create a syndicate which started out of European finance to lend money to the poverty stricken, which was termed MICROFINANCE."

Bicycles instead of cars? Dense apartment clusters instead of single homes? Community rituals instead of churches? "Human rights" instead of religious freedom? The UN Conference on Human Settlements (Habitat II) which met June 3-14 [1996]in Istanbul, painted an alarming picture of the 21st century community. The American ways-free speech, individualism, travel, and Christianity-are out. A new set of economic, environmental, and social guidelines are in. Citizenship, democracy, and education have been redefined. Handpicked civil leaders will implement UN "laws", bypassing state and national representatives to work directly with the UN. And politically correct "tolerance"-meaning "the rejection of dogmatism and absolutism"...

Link only - The Chicago Climate Club Gets Capped

  Among other things, it looks like the Chicago lobbying to save ShoreBank paid off. Earlier this month I discovered a letter sent by Windy City power player and big Democrat donor Lester McKeever, Jr., to Treasury Secretary Timothy Geithner, which urged his intervention. "It is my hope," McKeever wrote, "and one shared by others who care deeply about its most vulnerable communities, that the ShoreBank recapitalization plan with investment coming from the U.S. Treasury will enable it to continue servicing its customers and fulfilling its mission." In a post today on ShoreBank's blog, online channel manager (whatever that...

  On Friday the Federal Deposit Insurance Corporation momentarily took over politically-connected ShoreBank, just long enough to relieve it of some of its woes and then turn it back over to the same people to continue its same failed mission. According to a press release, the FDIC Deposit Insurance Fund will take a $367.7 million hit in the transaction.Looks like FDIC chairman Sheila Bair succeeded in her pursuit to save her baby. The Wall Street firms she reportedly pressured to help save ShoreBank – Goldman Sachs, Bank of America, JP Morgan Chase, Morgan Stanley, and General Electric, among others...

Illinois Congressional candidate Joel Pollack discusses the failure of Shore Bank, a bank with many connections to the Obama Administration.

Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months. It was the 114th U.S. bank to fail this year. The Federal Deposit Insurance Corp. took over ShoreBank, with $2.16 billion in assets and $1.54 billion in deposits. Urban Partnership Bank, a new institution comprised of several big Wall Street banks and a private foundation, agreed to assume ShoreBank's deposits and nearly all its assets... In an unusual move, the FDIC allowed some of ShoreBank's executives to continue running the restructured bank......

(Crain's) — ShoreBank, the South Side lender that carved out a national reputation by successfully lending in low-income urban neighborhoods for three decades, was seized by regulators Friday after an extraordinary rescue effort featuring the nation’s largest financial firms fell short. But all was not lost for the neighborhoods ShoreBank has served for more than three decades. The new management of the bank, led by former First Chicago Corp. senior executive David Vitale, acquired $1.54 billion in deposits and most of ShoreBank’s $2.14 billion in assets from the Federal Deposit Insurance Corp. and will reopen ShoreBank’s 15 branches in the...

Complete title: Failure Of Obama's Pet ShoreBank Costs Taxpayers $368 Million, Which Immediately Goes To Goldman Sachs Among Others ### After a lengthy attempt to bail out his pet bank, ShoreBank Chicago, Illinois, which included several alleged armtwisting episodes by the administration, the president has finally let the bank die (with its assets valued at about 50% of face). Yet instead of going to hell, it was immediately resurrected with a bevy of new owners, among them Goldman, Morgan Stanley, and BofA, all of whom received nearly $400 million in taxpayer money for their "generosity" to keep the bank zombified...

Federal regulators on Friday seized ShoreBank, the fabled South Side bank known for its community lending, and turned its good assets back over to its management team to be reopened as Urban Partnership Bank. The management team, which had joined ShoreBank only recently and which sources say includes former First Chicago Corp. executives Bill Farrow and David Vitale, entered into an agreement -- called a loss-share transaction -- on $1.41 billion of ShoreBank¹s assets with the Federal Deposit Insurance Corp. (FDIC), according to a press release issued tonight. The 15 branches of ShoreBank wll reopen Saturday as branches of Union...

Officials at ShoreBank, the troubled community bank with ties to the Obama administration, say there’s a “50-50” chance that recent efforts to rescue the institution will fail, and the bank will be taken over by federal government, FOX Business has learned. “It’s a coin flip, 50-50,” ShoreBank spokesman Brian Berg said, assessing the bank’s potential for surviving. “We’re working on” raising the money. Berg says the bank believes that it needs to raise $75 million more in additional capital to avoid being taken over by the Federal Deposit Insurance Corp. as early as this Friday. An FDIC spokesman declined to...

Curiously enough, once SIGTARP announced that it might investigate undue political pressure to bailout Shorebank, the government support seems to have dried up: ShoreBank Corp. has failed to secure $75 million in federal bailout money and may be forced to close, Bloomberg News reported today. The Chicago-based bank, known for lending to low-income communities, raised more than $145 million in private equity. But the money was contingent on federal help. Citing three people with direct knowledge of the matter, Bloomberg said the federal money is not forthcoming. It said one source said the private equity is scheduled to be returned...

Big Government publicized the investigative work of Chicago’s 9-12 Project regarding Shorebank Corporation beginning in April, 2010 and again on May 20th. To further expose the corruption surrounding this bank, Glenn Beck has done further investigation and is tying the bank to radicals in government, government officials, specific groups, individuals, and major companies and banks in what he has dubbed “Crime Inc. “ Recent news organizations have reported that Shorebank needed a bailout, but they weren’t available for TARP funds because they didn’t meet the criteria. They have called on their “friends” for additional cash so they might be eligible...

The Central Illinois 9/12 Project became the first to expose — beginning this past March on BigGovernment.com – Shorebank’s extensive green and microfinancing agendas, in anticipation of that bank’s impending bailout. Shorebank, a Chicago-based, community investment bank, is focused on domestic and foreign microfinancing, is heavily engaged in the financing of “green” projects and “green” jobs, and has a host of ties to the Obama and Clinton administrations. The Central Illinois 9/12 Project has most recently highlighted the bank seeking and obtaining funds from larger banks–such as Chase, Banks of America, and Goldman Sachs — to secure the necessary funding...

The Obama administration is buying votes in Kenya, charges Rep. Chris Smith, R-N.J., the ranking member of the Subcommittee on Africa and Global Health. WND reported Monday the Obama administration has funded $23 million of U.S. taxpayer dollars through the U.S. Agency for International Development, or USAID, to support the passage of a Kenyan constitutional referendum Aug. 4 that would increase access to abortions and authorize the operation of Islamic law tribunals in the East African nation. In a statement issued by his office yesterday, Smith charged that several Kenyan groups receiving USAID money had been given specific quotas built...

A congressman's proposal to appoint an inspector general to examine bank-bailout deals for political pressure -- a measure aimed at the politically connected ShoreBank Corp. on Chicago' South Side -- was killed in negotiations on Friday. ShoreBank has received commitments totaling $165 million from major banks such as JP Morgan, Goldman Sachs and Bank of America, and is awaiting approval of another $75 million in federal bailout money. Rep. Judy Biggert (R-Hinsdale) introduced the amendment earlier this week amid reports that the White House had asked other financial institutions to help ShoreBank. The White House denied any interference. In a...