Saturday, April 3, 2010

Good grief, corruption in Chicago

By David Jackson, John Chase and Ray Gibson, Chicago Tribune Reporters:
The family bank of Democratic Senate candidate Alexi Giannoulias loaned a pair of Chicago crime figures about $20 million during a 14-month period when Giannoulias was a senior loan officer, according to a Tribune examination that provides new details about the bank's relationship with the convicted felons.
The article then goes on to discuss $70 million in missing money the family retrieved. The bank, is failing and the FDIC is on the hook to deliver another few million to the corrupt family. HT Hot Air

This is beyond moral hazard.

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