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Jan Schakowsky (D, IL-09) saves Shorebank after all.

By: Moe Lane (Diary)  |  August 24th, 2010 at 08:30 AM  | 

RESIZE: AAA

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.

If you’re wondering why Jan Schakowsky can get away with having her and her husband being tied up in a dirty bank deal without censure by the House of Representatives, while Rep. Maxine Waters is currently facing ethics charges for her and her husband’s involvement with OneUnited, the answer’s easy: Schakowsky is white, and is thus simply fundamentally real to Democratic leadership in a way that no African-American Member of Congress could hope to be to them. It should not be a surprise that House ethics investigations are being allowed to continue only against those legislators whose seats are considered locked-in by the Democrats anyway.

Yes, let me clear: I’m explicitly calling the House Democratic leadership a bunch of racists. They are, you know. And it’s never more obvious than when you consider the things that they don’t do, when they don’t have to.

Moe Lane

PS: Joel Pollak is the GOP candidate for IL-09, and he’s been all over this topic. I’ve met him: he’s a good guy. Check him out.

*It should hardly be a surprise that Creamer shows no particular remorse for his actions, besides the minimum required for appeals for clemency. Then again, why should he? From his point of view the worse thing that happened in his scheme was that he got caught.

Crossposted to Moe Lane.

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COMMENTS

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  • Spartan4Life

    …when I read stuff like this.

    I looked into the whole Shorebank story because it piqued my interest. Based on the news accounts it was pretty clear that Shorebank was a sham and Jan Schakowsky was up to her eyeballs in it. When the house of cards started falling the big banks were asked(forced) to prop it up.

    What bothers me is that someone as corrupt as Jan Schakowsky can even be allowed to serve in Congress, much less go on TV and not even get asked about all the corruption.

    We live in a “It’s all OK if you get away with it” culture. Hopefully God’s justice will be swifter.

  • http://moelane.com/ Moe Lane

    You only saw this because the GOP candidate’s raising a stink about it and I happened to see it. Joel Pollak, and he’d be in a great position… if he was only getting funded properly.

    This is has nothing to do with you, S4L, but let me make a blunt statement here: this model the grassroots is so enamored of, where we ignore the national committees and fund worthy candidates directly? Speaking as one of the people that’s expected to keep said worthy candidates on the radar: it’s a horrible model that doesn’t work. I saw somewhere today somebody bragging about how Bachmann and Joe Wilson were bringing in the cash. That’s marvelous. They don’t need the d*mned money.

    When we don’t get the seats that we should have gotten – and we should be getting a lot more than we need to take back the House – I want everybody to remember this. The system does not work; we win in spite of ourselves; and there should be no outsiders here.

    Rant over. :)

  • Section9

    I thought that only the RNC was in trouble.

    Last I heard Boehner’s people had enough cash to hand out. It was only Steele’s outfit that wasn’t feeling the Love.

  • http://moelane.com/ Moe Lane

    And to make getting the Senate back not a matter of money.

    What they do not have the resources to fuel a 80 seat blowout. Which, tanjit, we could be at least aiming for.

  • acat

    Moe,

    I don’t trust the current GOP leadership to fund conservatives.

    I don’t see the point in giving the gutless DC wing of the GOP ammunition since I don’t think they’ll shoot, and even if they do, I don’t trust them to aim at my enemies.

    Mr. Steele sucks as an ally.

    So, as bad as the system of direct support to candidates is, until the mooches, grifters, scam artists, and RINOs in DC have their hands smacked hard enough to leave scars, the GOP gets not dime one from me.

    Mew

  • http://moelane.com/ Moe Lane

    But please keep this link for the morning after Election Day, when you wonder why we lost a race that we could have won.

  • acat

    And I will not be surprised if the Repubs under-perform in 2010.

    I could go into a whole “Conservatives need to build parallel structures” rant here, but .. you’ve heard it. You do it better than I ever could.

    That said, while I’ll slide a couple bucks over to Joel, and hope he does well, we need to get the GOP out of the hands of grifters and RINOs before I’ll trust them with my money again.

    Mew

  • Bill

    and his staff have done on Shorebank and its tie to the Climate Change legislation (Crap & Trade) and the investors, etc, etc, etc? Can someone please outline all those relationships to the rich & powerful, Godman Sachs, GE, etc. and the Obama mafia from Chicago for all of those who have not seen Glenn Beck’s expose?

  • Common_Cents

    I did a couple diaries on it when it was first brewing.

    Obama admin and Scamkowski beat money out of investors during the shakedown financial inquiries. I bet those investors got a nice “loan loss sharing” agreement with the FDIC in exchange, so in the end Goldman Sach and friends will be subsidized by taxpayer money in socialized losses. Look up the deal Soros and friends got with Indymac/OneWest Bank with FDIC. It’s ugly for us.

  • cactusjack

    being conservative and is turning (more openly?) libertarian now. I haven’t been watching TV I don’t know. But if he has, there is a use for it. He will be a pair of honest eyes on the Repubs should they get power in the House in Nov. We will badly need that.

  • Scope

    watching what the Republicans do if/when they gain the House majorities. Not many are against holding their feet to the fire. Probably the most telling statement from Beck for me was when he said that he voted for Joe Lieberman twice, not because he agreed with him on any single issue, but, because he thought he was an honorable man. I took that to mean, if you tell the truth, and even if I disagree with you on your policies/positions you are good by me, because you told the truth. Just how much credibility does that give Beck?

    Beck has long considered himself a Libertarian. As to his Libertarianism, it’s there today, but gone tomorrow. Beck is still struggling with what party he alligns with. I think none, and, I do think that Beck is agaititing for a third party that has yet to be defined. He will probably wind up supporting the Constitution party.

  • redneck_hippie

    electoral results so far.

    Shillkowsky has been sending out smear mailings to try and paint Joel with everything from birtherism to goodness knows what. She’s pretty scared and has not had one townhall meeting all summer, while Joel has already had over 8 townhalls during his campaign. Shillkowsky supposedly will debate Joel in October, that is if she doesn’t cancel it like the one she cancelled from this spring. She’s chicken and rightly so because she’s nothing but a hack corruptocrat.