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Ailing Chicago shorebank has ties to Valerie Jarrett &BHO Lenders agree to prop it up

 
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08/21/2010 03:53 AM

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Ailing Chicago shorebank has ties to Valerie Jarrett &BHO Lenders agree to prop it up
Some of the nation's largest banks have agreed to contribute enough money to save Chicago-based ShoreBank, the community lender with strong ties to the Obama administration, FOX Business has learned The bailout has been controversial. Senior Obama adviser Valerie Jarrett served on a Chicago civic organization with a director of the bank, and President Obama himself has singled out the bank for praise in lending to low-income communities.

But the bank has made its share of bad bets,
[link to www.foxbusiness.com]

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