Andy Martin says $1 million Obama campaign contributor Goldman Sachs is trying to orchestrate a bailout of failed financial institution ShoreBank, which has close ties to Barack Obama’s old neighborhood. Martin says the “Chicago fix” is in. Martin will be asking the Department of Justice for appointment of an independent counsel to investigate influence peddling and Chicago corruption in the ShoreBank scam. ShoreBank may have financial interests in—no surprise—Barack Obama’s “home:” Kenya. Martin is demanding that the bank make full disclosure of all of its overseas interests and investments before any federal aid is approved.
Martin says Chicago news media are covering up the ShoreBank scam out of fear of Obama retaliation. Martin says the ShoreBank bailout in Chicago is a growing Obama Administration/Clinton financial scandal Martin says that ShoreBank investors are seeking a “disguised taxpayer bailout”
ANDY MARTIN SAYS THE PROPOSED TAXPAYER BAILOUT OF CHICAGO’S SHOREBANK IS NOTHING MORE THAN ANOTHER GOLDMAN SACHS FINANCIAL SCAM; GOLDMAN GAVE $1 MILLION TO THE OBAMA PRESIDENTIAL CAMPAIGN MARTIN PLANS TO ASK THE FDIC AND DEPARTMENT OF JUSTICE TO OPEN INVESTIGATIONS INTO POLITICAL FAVORITISM AND INFLUENCE PEDDLING BY OBAMA ADMINISTRATION OPERATIVES
Martin calls the bailout “nothing more than a bailout of a bad investment by the very investors who are now trying to save their investment with taxpayer subsidies Martin says “Chicago clout” is behind efforts to rescue the bank.
“My readers are often astounded by the fact that I am linked to almost everything that has happened in Chicago over the past several decades. Well, here we go again. In 1973, I was one of the bidders for the old South Shore National Bank at 71st Street and Jeffrey Boulevard, which later morphed into ShoreBank. Although I had substantial resources to bid, I was outbid by the current owners who were backed by Pritzker Family money.
“A third of a century later, ShoreBank’s failed business strategy has imploded, and now ShoreBank investors are seeking a $75 million taxpayer bailout. Federal regulators should say no. The $75 million would not provide funds for future growth; it would merely reimburse investors for failed loans in the past. ShoreBank is dead in the water. It had a failed strategy, trying to mix ‘community’ banking with a massive international network of investments. What was a ‘community bank’ in Chicago doing involved in dozens of foreign countries?
“Barack Obama’s fingerprints are all over this bailout scam. ShoreBank has been linked to Bill Clinton, the Global Philanthropy Forum and the Chicago Global Donors Network which—no surprise—has links to Kenya(Obama’s old stomping grounds via United Kenyans of Chicago).
“The entire concept of ShoreBank is defective. The essence of banking is to spread risk. ShoreBank’s business plan is to concentrate risks, in bad neighborhoods. The bank has yet to publish a 2008 annual report, let alone a 2009 one. Tens of millions of bad loans are being concealed as part of a financial scam to secure federal financial support. This is nothing more than a Barack Obama ‘fix
“Most of the so-called ‘rescue’ investors have existing links to ShoreBank. Goldman Sachs has had someone advising the bank (Suzanne Johnson). Now they are trying to ‘invest.’ If Goldman can raise $140 million to save the bank they should be able to raise $200 million and avoid use of any taxpayer cash. Bank of America is listed as a shareholder; now they want taxpayers to bail them out. What is America-owned Citibank doing investing in bad banks and failed financial strategies? Citibank is a failed bank itself. It all comes down to two words: Barack Obama.
“The FDIC has closed better-situated banks in Illinois. Why is it stalling and propping up a failed institution? Chicago Clout. “What is interesting is the way the Chicago media have tried to hush up this scandal. Only recently has there been any press coverage. Well, we are blowing this scam wide open. Obama’s ‘game’ is up.
Andy Martin is the Executive Editor and publisher of www.ContrarianCommentary.com. Andy is a legendary New York and Chicago-based muckraker, author, Internet columnist, radio talk show host, broadcaster and media critic. He has over forty years of radio and television background. He is a former adjunct professor of law at the City University of New York (LaGuardia CC, Bronx CC) and holds a Juris Doctor degree from the University of Illinois College of Law. Martin comments on regional, national and world events with more than four decades of experience.
SOURCE http://www.pr-inside.com/andy-martin-links-barack-obama-to-r1903402.htm
Good grief Mag, It’s never ending...Wonder how many judges will go down this time?
FROM:
http://www.freerepublic.com/focus/f-news/2544059/posts
http://inform.com/united-states/nononsense-blagojevich-judge-actor-novelist-607637a
The 68-year-old (Judge James B. Zagel) is a Chicago native who graduated from the University of Chicago and got his law degree from Harvard. He became a prosecutor in the Cook County state’s attorney’s office and later chief of the criminal division of the Illinois attorney general’s office.
In that post, he appointed a budding young lawyer, Jayne Carr, as his top aide. She later became Jayne Carr Thompson, wife of former Illinois Gov. James R. Thompson.
Gov. Thompson picked Zagel to head the Illinois Department of Law Enforcement in his administration and eventually recommended him to President Ronald Reagan for a judgeship. He was appointed to the District Court bench in 1987.
//
(no link)
Senate OKs James Zagel as U.S. judge
Chicago Sun-Times - Wednesday, April 22, 1987
Author: Michael Briggs
WASHINGTON The Senate yesterday confirmed President Reagan’s nomination of James B. Zagel , the Illinois State Police Department director, to be a federal judge in Chicago.
Without debate, the Senate approved Zagel ‘s appointment to the bench of the U.S. District Court for Northern Illinois.
Zagel , 46, has headed the state law enforcement agency since 1980. Prior to that he was Revenue Department director in Gov. Thompson ‘s Cabinet.
When Zagel is sworn in as a judge, Thompson is expected to nominate Jeremy D. Margolis, now inspector general, to the top State Police post.
Groomed as an understudy to Zagel , Margolis has been a troubleshooter for Thompson since the governor created the inspector general job in part as a political foil to what turned out to be a short-circuited 1986 gubernatorial challenge by Illinois Attorney General Neil F. Hartigan.
//
http://illinoiscorruption.blogspot.com/2008/12/why-is-illinois-so-corrupt.html
Friday, December 12, 2008
Why is Illinois So Corrupt?
Watch the videos on this site:
http://www.crimefilenews.com/2008/12/chicago-corruption-fighter-and-author.html
Robert Cooley is a former mafia lawyer who worked with corrupt Illinois officials and judges. He turned state’s witness and he explains how the Chicago “Machine” still run by Alderman Ed Burke who “picks” the judges and controls the Chicago City Finance Committee and his wife corrupt Illinois Supreme Court Justice Ann Burke still are up to their ears in corrupt politics as usual. He talks how this cabal of corruption:
1- controls the media,
2-pays off the U S Attorney (former and probably still pays off his middle men, hired during this super corrupt era, who hide stuff from present US Attorney Patrick Fitzgerald so the only people prosecuted are fall guys like Blagojevic so as to take the heat off the real top dog crooks like:
A- Jim Thompson (former Gov X 16 years, Director of CIA oversight committee under 1st
President Bush and member of 911 Commission under W)
B-Madigans (Speaker of the House Michael and his daughter Attorney General Lisa, who
lauder all the bribery money kicked back from State, County and City contracts through
their political fund “friends of Madigan”),
C-the Burkes, and
D-the Daleys(Richard - Chicago Mayor and partner of John Burge [the torturer to get
murder confessions] while he was state’s attorney, John - Cook Co. Commissioner who
controlled Co. Board President John Stroger Sr and his Son Todd who replaced him, and
William former Commerce Secr. under Cliniton and now wants to be Gov of IL and
therefore needs to discredit Blagojevic and Lisa Madigan).
A summary of the “system” running Illinois in my view is as follows:
Illinois for too long has been under the control of the:
1- Kingdom of former Gov. Jim (Prince John) Thompson and
2-his Lords, Chicago Mayor Richard M. and Cook Co. Commissioner John Daley (sons of former Mayor Richard J.), County Board Pres. John Stroger Jr. (son of former County Board Pres. John Stroger),
3-House Speaker Michael and his daughter Atty Gen. Lisa Madigan,
4-Alderman Ed (buddy of Fast Ed[dy] now convict Vrydoliak - both of them were leaders against African American Mayor Washington in the “cousel wars” 20 years ago) and IL. Supreme Court Justice Ann Burke,
5-former Sheriff (of Nottingham) Sheahan, and
6-State’s Attorney Richard (Gisbourne) Divine, as well as
7-other Lords such as former Sen. President Emil Jones and now his son Emil Jones Jr.
(snip)