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Dodd's Financial Services 'Reform' Would Mean More Bailouts
The word "reform" in the age of Obama has taken on a clear meaning: aggressive expansion of government control over economic decision-making by businesses and consumers. The recently-passed health care...
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Is ShoreBank Sheila Bair's Baby?
The deadline for ShoreBank to come up with sufficient outside capital has been extended again, with the Federal Reserve saying more than $150 million from the likes of Goldman Sachs and Citigroup and...
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Can Chicago Lobbying Save ShoreBank?
Probably not. Seems like the more that presidentially-prizedShoreBank gets extensions from private financial institutions (Goldman Sachs, Citigroup, etc.) and from its federal regulators (the FDIC and...
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FDIC Seizes ShoreBank; Installs Management in New Bank
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...
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Political Pressure Saved ShoreBank Management
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.,...
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Did Green ShoreBank Escape Bankruptcy Because of Politics?
It's been a week since the Federal Deposit Insurance Corporation swept away ShoreBank's bad assets (cost: $367.7 million), changed its name to Urban Partnership Bank, and left it largely in the hands...
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