Democrats like to make up rules for Republicans which I then do my best to apply to democrats. In this example we have a donor to Carol Shea Porter who has been up to some questionable behavior. If Carol doe snot denounce it she is complicit in it. So pay attention.
Jan Schakowsky (D-Ill)–remember Jan, she’s on that socialist party list–has apparently helped bail out a local Illinois bank outside her district. What’s wrong with that? Nothing unless you are one of the small banks in her district that she allowed to fail. Nothing, unless you know that the bank in question appears to have donated to Senator Dick Durbin, Ms. Schakowsky, Obama and has connections to a distinguished list of Chicago insiders, many of whom are currently hanging with the man at 1600. Even the Clinton’s and MoveOn.org have roots in SouthShore. And nothing at all unless that bank just happens to be a bank Jan’s husband used to help him find a way out of his bank kiting scheme before he went to the big house.
ShoreBank, (formerly South Shore Bank), the bank that was saved, also seems to have allowed Schakowsky’s paper hanger husband time to shift as much as 1.4 million dollars to cover overdrafts in his float scheme which then allowed his defense team to seek a shorter sentence by pointing out that despite the illegal nature of his activity he paid back all the money. Robert Creamer (Jan’s hubby) was with the Illinois Public Action Council (IPAC) at the time of the activity. IPAC was a consumer advocacy group that Schakowsky herself headed back in the 70’s and 80’s. (Another Community organizer.)
ShoreBank’s reward for being so well connected? Instead of being allowed to fail and fold like many other small banks (including those actually in Jan’s district) this bank was "seized" by the FDIC, had some of its losses covered, (with help from banks like Goldman Sachs) and was sent along on its previous mission under a new name handling urban housing loans—the very loans that caused it to collapse in the first place. (So much for stress tests and closing risky lenders.)
So it is appropriate for Schakowsky to be bending ears and bailing out banks in other districts that are heavy democrat donors to Illinois politicians and just happen to have helped her husband so he could shorten a federal prison stint?
Sounds like business as usual in Washington. And if Jan was any less a democrat you’d be seeing this on the news every night for months.
So Carol got more dirty money from another crooked pol. Big deal. Just don’t tell soon to be public citizen Paul Hodes. He’d have to scold Comrade Carol for the business as usual thing. Oh wait. Maybe not. Hodes took $10,000.00 dollars from Dirty Dick Durbin and it looks like Durbin’s got his finger prints on this shady deal as well.
Good thing they drained that swamp.
Shore bank Seized
http://www.freedompub.org/profiles/blogs/shorebank-seized-saved
http://www.chicagobusiness.com/article/20100820/NEWS01/100829982/shorebank-fails-will-be-reincarnated-as-urban-partnership-bank
More on Cronyism (scroll down page to article)
http://www.conservativeblogwatch.com/tag/bailout/
Schakowsky involvement
http://biggovernment.com/jpollak/2010/05/25/rep-schakowsky-and-shorebank-new-evidence-of-conflict-of-interest/
http://biggovernment.com/jpollak/2010/01/19/rep-schakowskys-shorebank-bailout/
H/T Moe Lane – Red State
http://www.redstate.com/moe_lane/2010/08/24/jan-schakowsky-d-il-09-saves-shorebank-after-all/
Comrade Carol’s link to Schakowsky
http://granitegrok.com/blog/2010/08/comrade_carol_seiuporter.html#more
http://www.opensecrets.org/politicians/pacs.php?cycle=2010&cid=N00028091§or=Q&seclong=Ideological%2FSingle-Issue&cat=Q16&induslong=Candidate+Committees&newMem=N
http://www.opensecrets.org/politicians/pacs.php?cycle=2010&cid=N00028091§or=Q&seclong=Ideological%2FSingle-Issue&cat=Q03&induslong=Leadership+PACs&newMem=N
Hodes Business as Usual tour
http://granitegrok.com/blog/2010/08/something_stupid_this_way_comes.html
