ShoreBank: At Death's Door or Another Reprieve?

The deadline given by Wall Street firms like Goldman Sachs and Citigroup to politically-connected ShoreBank is tomorrow, and if the Chicago community development institution cannot come up with additional capital, it will likely fail. This is despite extraordinary efforts on ShoreBank's behalf by FDIC chairman Sheila Bair and by some powerful Chicago congressmen and power brokers, which I explain today for the National Legal and Policy Center.