The story about the bailout attempt of ShoreBank first began breaking last Thursday night. The FDIC was demanding that the bank have $125 million in investments by Friday, but discussions to bail out the bank, which has close ties to both senior members of the Obama Administration, as well as the Clinton family, went deep into the weekend as Chicago politicians scrambled to save the bank.

By The Prowler at American spectator

Republicans on the House Financial Services Committee want to find out if anyone in the Obama White House attempted to influence the financial bailout of a well-known Chicago-based “community bank,” which faced FDIC closure last week, and which, going back to the Clinton Administration, has had close ties to ACORN and the leftist community-organizing world of Chicago.

The story about the bailout attempt of ShoreBank first began breaking last Thursday night. The FDIC was demanding that the bank have $125 million in investments by Friday, but discussions to bail out the bank, which has close ties to both senior members of the Obama Administration, as well as the Clinton family, went deep into the weekend as Chicago politicians scrambled to save the bank.

Focus on the White House’s role is due in large part to the ties senior staffers there have to the investors and management of the bank, which started out as a community bank, and lately has been deeply involved in “micro-financing” and “green” loans. In 2006, before his Presidential race, then-Sen. Barack Obama visited his father’s homeland of Kenya, and around the same times ShoreBank donated $1 million to that country to assist in micro-loan programs there. At the time, Obama officials said it was a coincidence that ShoreBank made the contribution to Kenya. According to Department of Energy sources, disgraced Obama Administration “green” adviser Van Jones was a touter of the bank’s efforts — and an account holder — though he may not have had much to do with the bank receiving more than $30 million in funds to underwrite green projects.

Senior White House aide Valerie Jarrett appears to be the central figure in the Financial Services’ interest, according to Republican staffers with ties to the committee. “We have the Wall Street Journal reporting that no White House contacts were made on behalf of the bank with outside investors, but you keep hearing from those involved directly in the discussions that the White House appears to be all over this thing,” says one staffer.

FULL STORY

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