Indeed, ShoreBank obtained $35 million in federal stimulus funds, then used Rep. Schakowsky, Sen. Dick Durbin (D-IL), and former president Bill Clinton to press Illinois authorities for another $100 million. Finally, unable to raise the necessary capital from a near-bankrupt state, ShoreBank was able to obtain apparently politically-brokered favors from Wall Street, with personal help from Goldman Sachs CEO Lloyd Blankfein.
http://biggovernment.com/jpollak/2010/05/25/rep-schakowsky-and-shorebank-new-evidence-of-conflict-of-interest/
ShoreBank is about to receive $75 million in federal taxpayers’ money for a bailout that has become the prime example of “crony socialism” under the Obama administration. It is not the first federal money ShoreBank has received. In May 2009, it was awarded $35 million in stimulus credits for “green projects” in Chicago, Detroit, and Cleveland. The grant was part of Van Jones’s “green jobs” push, with a focus on home weatherization.