Surprise: Goldman Sachs to Pump Money Into Bank Connected to Obama and Left Wing Causes:ShoreBank

Gee, you think they are looking for a favor from their favorite Dems in the White House?

WASHINGTON/NEW YORK (Reuters) - Goldman Sachs Group Inc Chief Executive Lloyd Blankfein and a consortium of other top banks are part of an effort to save ShoreBank Corp, a Chicago bank with Washington ties, a Democratic activist close to the institution said on Friday.

Goldman, Citigroup, JPMorgan and Bank of America are helping raise the $125 million the community development lender needs to avoid a government takeover, said Bill Brandt, chairman of the Illinois Finance Authority.

"My understanding is that Goldman Sachs has made a significant commitment and will act on this commitment today," Brandt said. "Whether this deal gets finally cooked is a Herculean task."

Brandt said Goldman agreed to contribute more than $20 million to help rescue the bank.JPMorgan is considering a financing package of about $15 million that would include converting existing debt to equity as well as a cash investment, a person familiar with the bank's plan said. The second-largest U.S. bank is already an investor in Shore Bank.

Call this bank a money cog in the influence peddling operation known as the left:

ShoreBank has kept a high profile in the community development world. It focuses on loans that contribute to environmental efforts and targets borrowers looking to convert deteriorated apartment buildings into income-producing properties, expand small businesses, and upgrade homes and property.

It was especially hard hit during the recession, reporting a net operating loss of $53.6 million in 2009. In 2008 it eked out net operating income of $1.3 million.

The bank has powerful ties to Washington, displaying on its website a YouTube video of a news report that links ShoreBank with President Barack Obama when he was a senator.

So typical and for more on ShoreBank read this from BigGovernment. By the way I did check out youtube and typed in ShoreBank, check it out.

Update, Tell me if you notice a pattern in who the donations are going to(By the way , they are all employees of Shorebank):

Obama, Barack			Beng, Brian J Chicago,IL 60610		9/30/08	$1,500
Obama, Barack			BROWN, TODD CHICAGO,IL 60615		8/12/08	$1,300
Obama, Barack			TODD, BROWN CHICAGO,,IL 60615		1/4/08	$1,300
Obama, Barack			BERG, BRIAN J CHICAGO,IL 60610		2/23/07	$1,000
Obama, Barack			BROWN, TODD CHICAGO,IL 60615		5/2/07	$1,000
Obama, Barack			RAILSBACK, LYNN OAK PARK,IL 60304		9/3/08	$1,000
Obama, Barack			RAILSBACK, LYNN OAK PARK,IL 60304		9/22/08	$1,000
Obama, Barack			BERG, BRIAN J CHICAGO,IL 60610		1/24/08	$500
Obama, Barack			HOUGHTON, MARY CHICAGO,IL 60615		10/28/08	$500
Obama, Barack			SEIDMAN, ELLEN WASHINGTON,DC 20007		10/17/08	$500
Obama, Barack			SEIDMAN, ELLEN WASHINGTON,DC 20007		8/22/08	$500
Obama, Barack			SPENGLER, LAURIE NAPLES,FL 34102		11/2/08	$500
Obama, Barack			BERG, BRIAN CHICAGO,IL 60610		9/8/08	$300
Obama, Barack			BERG, BRIAN J CHICAGO,IL 60610		4/30/08	$250
Obama, Barack			BERG, BRIAN J CHICAGO,IL 60610		4/30/08	$250
Obama, Barack			BROUGHTON, DAN CHICAGO,IL 60626		3/26/08	$250
Obama, Barack			FLOWERS, LEANA CHICAGO,IL 60653		11/9/07	$250
Obama, Barack			HORSCH, CHRISTOPHER MR CHICAGO,IL 60614		3/24/08	$250
Obama, Barack			WEIGERT, KAREN CHICAGO,IL 60657		9/16/08	$250
Obama, Barack			BERG, BRIAN J CHICAGO,IL 60610		4/30/08	$-250