Jan Schakowsky (D, IL-09) saves Shorebank after all.
24th August 2010
Back in May it was reported that the failing, yet politically-connected Shorebank in Illinois was to be bailed out. The bank actually closed last Friday, but was resurrected yesterday and turned into a new bank – one that will of course have no obvious relationship to Rep. Jan Schakowsky (IL-09), who lobbied very strenuously to save Shorebank… even though it’s not based in her district. It is, however, the bank that Schakowsky’s convicted felon husband Robert Creamer used to partially extricate himself from the consequences of his fraud scheme; the bank provided critical assistance to Creamer that allowed him to avoid default – which would have beneficial effects on his sentencing a decade later*. There is a strong whiff of this transaction being part of a quid pro quo – with the latter half being paid off, well, right about now.
It must be part of that old Culture of Corruption that Nancy Pelosi keeps going on about — Oh, wait, she means Republicans….