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'Glenn Beck': ShoreBank's Tangled Web (corruption democrats) ^ | Friday, May 21, 2010 | 'Glenn Beck'

Posted on 05/26/2010 7:59:14 AM PDT by day21221

'Glenn Beck': ShoreBank's Tangled Web Friday , May 21, 2010 GLENN BECK, HOST: I want to talk to you a little bit about ShoreBank. And all you need to know about ShoreBank in Chicago is it's a really good local bank — that's it — a really good local bank.

I want to start over here. Do you remember Crime Inc.? This is a story that we've been telling you here for a while. And I just want to run this down. Joyce Foundation, when Barack Obama was on the board of the Joyce Foundation — this is a really nasty kind of liberal slush fund — he decides that he's going to funnel money to start CCX. This is the climate exchange board in Chicago, the Chicago Climate Exchange. Barack Obama, $1.1 million to CCX, OK? Who are some of the other investors?

(Excerpt) Read more at ...

TOPICS: Extended News
KEYWORDS: beck; billayers; ccx; chicago; clintons; corruption; democratcorruption; democrats; fanniemae; fordfoundation; ge; geithner; glennbeck; goldmansachs; iwuvglenn; joycefoundation; lds; liberalfascism; moneygreen; mormon; obama; shorebank; socialistdemocrats; woodsinstitue

1 posted on 05/26/2010 7:59:14 AM PDT by day21221
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To: day21221

Banks are failing left and right.

What is so special about ShoreBank that the left wanted to save it?


2 posted on 05/26/2010 8:01:27 AM PDT by GeronL (Political Correctness Kills)
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To: GeronL

Maybe it is the bank of choice for several well healed “families”.

3 posted on 05/26/2010 8:03:05 AM PDT by gov_bean_ counter (Obie Wan Nairobi from the 1/2 dark side. The farce with this one strong, it is...)
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To: day21221

Crime Inc.: What the ‘Greening of America’ Really Means,2933,592243,00.html

4 posted on 05/26/2010 8:05:10 AM PDT by day21221
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To: day21221; Dr. Bogus Pachysandra; Entrepreneur; Darnright; Nipfan; Defendingliberty; ...
Glenn Beck TV Show episode videos exposing the nexus of anthropogenic global warming, Obama, Joyce Foundation, Chicago Climate Exchange, ShoreBank, Fannie Mae, Franklin Delano Raines, Cap 'n' Trade, Crime Inc., Global Governance, Maurice Strong: Glenn Beck TV Show episode videos exposing the nexus of anthropogenic global warming, Obama, Joyce Foundation, Chicago Climate Exchange, Cap 'n' Trade, Crime Inc., Global Governance, Maurice Strong:



Beam me to Planet Gore !

5 posted on 05/26/2010 8:11:56 AM PDT by steelyourfaith (America should take a mulligan on the 2008 presidential election.)
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To: day21221

The real problem here is the Joyce Foundation...

6 posted on 05/26/2010 8:21:26 AM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: All
The Center for Financial Services Innovation is now a nonprofit affiliate of ShoreBank, where it continues to be housed, as well as receiving administrative and institutional support. CFSI receives financial support from a variety of foundations and organizations. CFSI was originally funded by the Ford Foundation and incubated at ShoreBank.

ShoreBank, the CFSI Board of Directors, and all the CFSI Funding Organizations: Annie E. Casey Foundation, Bank of America Charitable Foundation, Ford Foundation Heron Foundation, Citigroup Foundation, should be subjected to scrutiny.

THE MODUS OPERANDI The IRS has pinpointed tax-exempts and non-profits as the locus classicus for money laundering and tax evasion (stolen money is taxable).

The biggest frauds are tax-exempts writing checks to other tax-exempts---the way these "altruistic do-gooders" siphon off, then launder, tax-free monies for themselves.

The use of government funds to subsidize ShoreBank gives rise to concerns about massive govt fraud and money laundering.

Do these entities engage in offshore financial actvities?

Was there improper use of pension funds?

Was there improper use of credit cards? (EXAMPLE government fraud and embezzlement from pension funds could be facilitated w/ credit cards utilizing complex repayment systems).

Did ShoreBank "write off" millions in "loans" to these entities?

Criminal complaints for fraud, embezzlement, conspiracy and concealment, and criminal civil rights violations could be charged. It is also possible that other federal offenses have also been committed including but not limited to;

Title 18 U.S.C. §1341, Mail Fraud,
18 U.S.C.§1001, Presenting a False Document to the an Agent of the US Government;
18 U.S.C.§1027 False statements and concealment of facts in relation to documents required by the 1974 ERISA law and other possible offenses including civil and/or criminal RICO violations.
18 U.S.C. §§1961-68 (RICO Act)
18 U.S.C. §1001 (False Statementsto Agents of the US Government),
18 U.S.C. §1341 (Mail Fraud),
18 U.S.C. §1027 (ERISA Violations), and,
18 U.S.C. §241(Conspiracy Against Civil Rights).

Full investigations of a RICO conspiracy under 18 U.S.C. §1962(c) could be warranted because the law asserts that (1) persons (2) were employed by or associated with an enterprise (3) that engaged in or affected interstate commerce and that (4) the defendant persons operated or managed the enterprise (5) through a pattern (6) of racketeering activity, and (7) the complaints were injured in its business or property by reason ofthe pattern of racketeering activity.

RICO investigation could also warrant Complaints alleging a violation of Title 18 U.S.C. §241 – Conspiracy Against Constitutional Rights – which prohibits in relevant part, “two or more persons (from conspiring) to injure, oppress, threaten, or intimidate any person in any State, Territory,Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same . . .” See, 18 U.S.C. §241.


While acting as succesful philanthropists, did the named individuals create a labyrinth of complex, interrelated international funds, institutions and financial entities with assets and businesses in multiple places overseas to facilitate money laundering, tax evasion and government fraud?

The Center for Financial Services Innovation, ShoreBank, and its associates, could be operating:

(1) a Ponzi fraud;

(2) laundering tax-free money for the wealthy with phony philathropic "foundations and charities"

(3) IRS fraud facilitation;

(4) a protection racket (shielding wealthy individuals from federal scrutiny);

(5) laundering tax-free money that ended up as donations to Democrat candidates (campaign fraud).

7 posted on 05/26/2010 8:29:46 AM PDT by Liz (If teens can procreate in a Volkswagen, why does a spotted owl need 2000 acres? JD Hayworth)
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To: steelyourfaith; April Lexington; day21221; Dr. Bogus Pachysandra; Entrepreneur; Darnright; ...

Ping to post #7.

8 posted on 05/26/2010 8:30:11 AM PDT by Liz (If teens can procreate in a Volkswagen, why does a spotted owl need 2000 acres? JD Hayworth)
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To: Liz


9 posted on 05/26/2010 8:32:41 AM PDT by GeronL (Political Correctness Kills)
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To: day21221

A list of all loan customers might shed light on who put this bank into the red. Also a list of large money transactions and transactions with offshore entities. It is important for the parties who might use this bank as a cash cow or a laundry to keep it operating. If the feds take it over it would be subjected to a more thorough audit maybe a criminal investigation.

10 posted on 05/26/2010 10:06:41 AM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: day21221


11 posted on 05/26/2010 10:34:57 AM PDT by opentalk
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To: day21221

ShoreBank gets new management duo

By Steve Daniels
May 26, 2010
(Crain’s) — David Vitale, the Chicago banking veteran slated to become executive chairman of ShoreBank Corp., recruited two colleagues from his days at First Chicago Corp. to beef up management of the South Side community lender following its controversial bailout led by Wall Street’s biggest players.

William Farrow, 55, with whom Mr. Vitale has worked both at First Chicago and the Chicago Board of Trade, Wednesday was named president and chief operating officer. He will report to George Surgeon, who continues as CEO of ShoreBank and president and CEO of the holding company.

Eileen Kennedy, 52, was named chief financial officer of both the Chicago bank and the holding company.

Mr. Farrow most recently was executive vice-president at CBOT and played an important role in the exchange’s initial public offering.

Ms. Kennedy most recently was CFO for Gartmore Asset Management, the London-based investment unit of Ohio-based Nationwide Mutual Insurance Co. Before that, she was CFO for life insurance arm Nationwide Financial Services Inc. She was treasurer at First Chicago when Mr. Vitale served as vice- chairman.

Some old hands at ShoreBank will have new roles. Ellen Seidman, 62, a former federal banking regulator and a ShoreBank officer since 2005, was named executive vice-president of mission and strategy. Kimberly Lynch, who joined the bank last year, will continue as general counsel. Leana Flowers, 60, will continue as head of human resources, and Laurie Spengler, 47, will continue as president and CEO of ShoreBank International Ltd., the bank’s unit specializing in microfinance in the developing world.

“With these professionals, ShoreBank will have in place a strong management team which knows ShoreBank well and is committed to forwarding ShoreBank’s mission to help the lower- and moderate-income communities we serve become stronger and healthier,” Mr. Vitale said in a news release.

The $2.3-billion-asset bank barely averted failure last week when it secured about $140 million in commitments for new equity from leading financial services firms including Goldman Sachs Group Inc., General Electric Co., Citigroup Inc., J. P. Morgan Chase & Co. and Bank of America Corp.

It now awaits word on whether it will receive a $75-million infusion from the Treasury Department’s Troubled Asset Relief Program. That’s expected within two months.

Top Republicans on the U.S. House Financial Services Committee have called for probes into the White House’s ties to ShoreBank. The bank’s outgoing founders, Ronald Grzywinski and Mary Houghton, have personal relationships with the Obamas, as well as ties to Bill and Hillary Clinton going back to the 1980s when an Arkansas bank modeled on ShoreBank was established.

The White House has denied any involvement with the ShoreBank rescue.

12 posted on 05/27/2010 10:46:20 AM PDT by KeyLargo
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