Tidal Wave Set to Hit Shorebank and Its Cronies UPDATED!

 © By Bridgette WTPOTUS 2010

Big Government publicized the investigative work of Chicago’s 9-12 Project regarding Shorebank Corporation beginning in April, 2010 and again on May 20th. To further expose the corruption surrounding this bank, Glenn Beck has done further investigation and is tying the bank to radicals in government, government officials, specific groups, individuals, and major companies and banks in what he has dubbed “Crime Inc. ”

Recent news organizations have reported that Shorebank needed a bailout, but they weren’t available for TARP funds because they didn’t meet the criteria.  They have called on their “friends” for additional cash so they might be eligible for TARP funds.  Like other left-leaning, democratic organizations, this bank appears to have many tentacles. Questions arise as to their operations and why they are not being closed by the FDIC for poor management or other regulations.   What is it that makes Shorebank so important that they aren’t being allowed to fail?  Shorebank was the recipient of Stimulus Funds in the amount of $35 million, yet they need more money less than a year later. One also must question why major “bailed out”  corporations like Bank of America and  J.P. Morgan Chase  are being called on to “save” this bank.   The “Bailed Out” are now involved in “Bailing Out?”

Most peculiar is how Shorebank’s logo and motto resemble Obama’s colors in his logos and his pre-election mantra. Their motto, “Let’s Change the World.”  Creepy, and telling.

What is the story? Who are the people behind Shorebank and its other entities that are now seem operating both nationally and internationally?  Below are the articles from the 9-12 Chicago Project. Those at the 9-12 Chicago Project  are to be commended for their work and for exposing what appears to be another organized criminal organization.

Shorebank: Too Green to Fail?


Chicago 9-12 Project
April 5, 2010 by whitneyz

Shorebank is a community bank based out of Chicago that is engaged in microfinancing – a hybrid of capitalism and social justice.  They have been supported and promoted by individuals like Van Jones, President Obama, President Clinton, and Secretary Clinton. They have also become heavily involved in the financing of green projects (see here and here).

Interestingly, Shorebank is currently seeking support from a few large banks –all of which have received federal bailout money from the Toxic Asset Relief Program (TARP) and are Shorebank stockholders. These banks include Citigroup, Bank of America, and Chase. Citigroup initially received $25 billion in taxpayer money (plus another $20 billion soon after), and Bank of America initially received $25 billion (plus another $20 billion after that). Neither of these banks has completely paid back their TARP loan. Chase also received $25 billion in bailout funds, but repaid its loan in December of 2009. So rather than seeking a bailout from a state that has a $13 billion budget deficit, Shorebank is seeking to be bailed out by banks that have already been bailed out by federal taxpayers – which is, in essence, an indirect, federally-funded bailout.

However, it may also be surmised that Shorebank may instead be the direct recipient of bailout money.  The Department of Treasury has suggested that it may use TARP funds to assist “Community Development Financial Institutions” (CDFIs). The Treasury defines a Community Development Financial Institution as

… a financial institution that works in markets that are underserved by traditional financial institutions.  CDFIs are certified by the Department of the Treasury’s CDFI Fund, which was created for the purpose of promoting economic revitalization and community development in low-income communities.

In February, Secretary Geithner proposed “enhancement” to TARP funds specifically aimed at community development banks that would allow them to receive capital investment funds at a 2% rate (compared to the standard 5% rate) and to receive federal TARP funds that would be matched to funding received from private institutions. Chicago Congresswoman Jan Schakowsky wants ShoreBank to be eligible for such funding and has even suggested that such funding would be equivalent to a jobs program for the area.  “Plain and simple, this is a jobs program,” she says.  “The funds from this program will go directly to the people and communities that need it most which will expedite hiring and rebuild a vibrant economy”.

Shorebank has received free consulting assistance from Promontory Financial, which is headed by a former director of Shorebank, Eugene Ludwig. Ludwig also helped found CapGen, an entity that invests primarily in community banks. Ludwig was formerly Comptroller of the Currency during the Clinton administration. This would not be the first time that Promontory Financial assisted in raising capital for Shorebank. In 2007, Promontory was a key player in a transaction where TIAA-CREF, a real estate developer and financier, deposited $22 million with Shorebank.  TIAA-CREF also supported Shorebank in 2009 with the same type of funding via consultants at Promontory.  Receiving funding by similar means now would likely help Shorebank raise private funding that would be matched by federal TARP dollars.

What might be the issue with Shorebank? Could they be the next in the line of banks about to fold, or are they the next in line to receive bailout money (either indirectly or directly)? Will they do the unprecedented and become one of the first entities to be bailed out by a state that itself has a $13 billion deficit? With its promotion of green development and new carbon credit distribution, could Shorebank become one of the first banks to be deemed too “green” to fail?


Shorebank Bailout: The Ties that Bind

by Central Illinois 9/12 Project

The Central Illinois 9/12 Project became one of the first to expose — beginning this past March on BigGovernment.com – Shorebank’s extensive green and microfinancing agendas, in anticipation of that bank’s impending bailout.  Shorebank, a Chicago-based, community-based investment bank, is focused on domestic and foreign microfinancing, is heavily engaged in the financing of “green” projects and green” jobs, and has a host of ties to the Obama and Clinton administrationsMost recently, we wrote in April about Shorebank seeking a “bailout” from larger financial firms that have previously received bailout money from the federal government. Congresswoman Jan Schakowsky had previously proposed that the bank receive funds from the State of Illinois to help cover its loss of capital since the beginning of the nation’s economic downturn in 2008.

As we previously wrote, Shorebank would potentially be eligible for TARP funds if it were to be recognized as a “Community Development Financial Institution.” In order to to received needed federal TARP money and prevent seizure by the FDIC, Shorebank needed to receive appropriate matching funds from private sources.  News stories have been released over the past several days indicating that Shorebank has potentially received such funding.

Shorebank has reportedly received $20 million from General Electric, $20 million from Goldman Sachs, and $20 million from Citigroup – with additional large funds being promised by J.P.Morgan Chase, Bank of America, and Morgan Stanley. Shorebank also has received funds from the Northern Trust Corporation, State Farm, and Harris N.A.  It has been reported that the bank could also receive funds from Wells-Fargo and PNC Financial Services.  Assistance from these financial institutions puts Shorebank’s raised capital from private sources within the range needed to make it eligible for TARP funds.

As we reported previously, Citigroup, Bank of America, and Chase all received tens of billions of dollars in taxpayer money from TARP.  Does this then mean that Shorebank is being bailed out by bailout money?

And still yet, there is another layer to Shorebank’s impending bailout that must be exposed: cronyism. Mary Cahillane was named Executive Chair of Shorebank in November.  Cahillane had previously worked at Bank of America as an operational risk executive. Goldman Sachs executive Lloyd Blankfein has been reported to have been personally involved (*site subscription required to access this link) in arranging for the assistance given to Shorebank.

Such assistance from Goldman Sachs would enable that bank to fulfill its “responsibilities”  under the Community Reinvestiment Act (CRA) of 1977 to prevent discriminatory lending practices and increase lending in poor neighborhoods.  And who was a strong advocate for the the passage of CRA?  One of Shorebank’s founders, Ron Grzywinski, who appeared before Congress to advocate for the bill (and was the only banking executive to do so) and who served as on President Carter’s National Consumer Bank Board.

In addition, Goldman Sachs’ relationship with the White House has concerned some, as its executives have met with President Obama and/or his officials on multiple occasions – and Goldman Sachs and its employees have donated nearly a million dollars to President Obama’s presidential campaign.

In addition to Shorebank’s ties to President Clinton, Secretary Clinton, and President Obama, Shorebank also has ties with one of President Obama’s chief advisors, Valerie Jarrett. Jarrett served on the Board of Directors for Chicago Metropolis 2020, a civic organization headed by Shorebank director Adele Simmons. The ties between Jarrett and Simmons are depicted pictorially on Muckety.com.

Additionally, Ms. Jarrett works for Navigant Consulting. Current President and CEO of Navigant, William Goodyear, is currently an advisor to Shorebank.

These associations — and the eagerness displayed by various financial institutions to “rescue” Shorebank – lead necessaily to the questions now being asked by two Republican Congressmembers, Spencer Bachus (AL) and Judy Biggert (IL). A letter has been sent by Bachus (Ranking Member of the House Financial Services Committee) and Biggert (Ranking Member of the Subcommittee on Oversight and Investigations) to President Obama asking him to respond by June 2nd to a series of questions relating to Shorebank.

So our question is this: How is it that the federal government got into the business of picking winners and losers? Ten other Illinois banks closed in 2010 alone.  Did those banks have the same opportunities as Shorebank?  How is it that only Shorebank was able to secure such huge amounts of private funding?  Do the intimate connections that the banks and individuals who are working to bail out Shorebank have with the Obama administration have anything to do with its ability to secure such funds?  These questions must be answered, and we at the Central Illinois 9/12 Project will continue to ask these questions and seek their answers.


UPDATE: January 10, 2012 

Snips from the Chicago Daily Observor, John Powers

Surprise! Politically Infested ShoreBank Fails…Again!

When we got around to looking at ShoreBank, they had no records of where they loaned money and did no reporting to the Bank Regulators, responding, ‘Of course we loan money to our own neighborhood, we’re ShoreBank”, which was backed up by the then overlords at the Tribune.

Take a look at this from Bloomberg

ShoreBank Corp., the holding company for a Chicago lender that served low- and moderate-income communities before being closed by regulators in August, filed for bankruptcy protection under Chapter 11.

ShoreBank said it had about $63.5 million in liabilities and about $19.2 million in assets in a filing yesterday in U.S. Bankruptcy Court in Chicago. Eleven of the holding company’s units also sought bankruptcy.

You can read the whole article, but you won’t find any mention of Political Insiderism, Rep. Jan Schakowsky or her felonious husband Robert Creamer, Sen. Dick Durbin, the mis-investment of prepaid tuition funds, longtime Cdobs favorite William Brandt.

Here is a little more depth on what has gone on at ShoreBank

A list of the corporate shareholders at ShoreBank tells a story of insider trading and crony capitalism

Allstate Insurance Company
Bank of America Corporation
BP Corporation North America Inc.
Bullitt Foundation
Calvert Social Investment Equity Fund Catholic Healthcare West
Center for Community Change
Charles Stewart Mott Foundation
Chicago Community Foundation
Cleveland Tomorrow
CNA Financial Corporation
Cooperative Assistance Fund
Cummins Foundation Inc.
Development Equity Fund, L.L.C
Domestic and Foreign Missionary Society
of the Protestant Episcopal Church of the US
Dominican Sisters of Springfield, IL
Episcopal Diocese of Northern Michigan
F.B. Heron Foundation
Ford Foundation
Harris Bankcorp, Inc.
Health Care Service Corporation
Illinois Prepaid Tuition Trust Fund
Irving Harris Foundation
Irwin-Sweeney-Miller Foundation
JPMorgan Chase & Co.
John D. and Catherine T. MacArthur Foundation
Joyce Foundation
LaSalle National Corporation
Lumbermens Mutual Casualty Company
MAF Investments, Ltd.
Marquette Community Foundation
MBNA Community Development Corporation.
New Prospect Foundation
Northern Michigan University
Northern Trust Corporation
Piton Foundation
Prudential Insurance Company
R.D. Merrill Company
Regency Savings Bank, F.S.B.
South Shore Commission
State Farm Mutual Automobile Company
Twenty-First Century Foundation
UIDC Holdings, L.P.
Unitarian Universalist Congregation at Shelter Rock
United Church of Christ/ Local Church Ministries.
Wells Fargo Bank, N.A.
Wieboldt Foundation

This is crony capitalism on steroids.   Insider trading makes doing business in Illinois nearly impossible without paying politicians for favors. This is Illinois at its worst or as the Tribune puts it:

“This institution has made Chicago stronger.   It deserves to be saved, so it can continue that work.”

H/T Renee


260 responses to “Tidal Wave Set to Hit Shorebank and Its Cronies UPDATED!

  1. Renee
    got another name game for you

    WATER. Gate
    White. WATER
    shore. WATER
    gulf. WATER
    WATER Loooooooo

  2. Chicago Dems seek TARP funds to bring Illinois bank ‘back to life’
    By Silla Brush – 07/08/10 06:09 PM

    Chicago-area Democrats are urging the Treasury Department to help a troubled community bank with money from the $700 billion financial bailout fund.

    Four House members pushed the department in mid-June to provide federal money to ShoreBank, a prominent Illinois-based bank that serves low- and middle-income customers. High-profile Democrats, including President Bill Clinton, have praised the bank’s work.

    Republicans have criticized ShoreBank’s political connections and called for investigations into its application for federal help. The Treasury Department has yet to decide whether to grant an aid package, months after the bank first applied.

    ShoreBank raised roughly $150 million from other banks, nonprofits and philanthropies as part of its application for help under the Troubled Asset Relief Program (TARP). The bank would be eligible for roughly $70 million in federal help, according to Brian Berg, a ShoreBank spokesman.

    Illinois Democratic Reps. Bobby Rush, Danny Davis, Jesse Jackson Jr. and Jan Schakowsky wrote to Treasury Secretary Timothy Geithner urging the department to help ShoreBank.

    Snip ~

    Republicans have criticized ShoreBank’s application for help and charged that the Obama administration has intervened on the bank’s behalf. Rep. Judy Biggert (R-Ill.) pushed legislation recently requiring a federal investigation into whether the administration specifically helped the bank.


  3. ShoreBank: The 11th-Hour Cover-up

    by Joel B. Pollak 6/28/10

    Late last week, at the 11th hour, the Senate removed an amendment that would have required the inspector general of the Federal Deposit Insurance Corporation to investigate the corrupt ShoreBank bailout, as well as every other bailout since January 2009. It is the clearest sign yet that the White House and Democrats in Congress are covering up the truth. If there is nothing to hide, why block the ShoreBank investigation?


  4. May 26, 1994 News & Commentary » Feature

    The Left Bank

    20 years ago the founders of South Shore Bank set out to prove that abank could both make money and make a difference. How well have they succeeded? What have they learned?

    By David Moberg


  5. Snip ~

    Taub, a University of Chicago professor of public policy, points out that although Shorebank’s predecessor had lost $40 million in deposits in the 1960s, that situation didn’t deter the group that took over in 1972. Instead of relying on a shrinking resource, it built new resources — and rebuilt the neighborhood at the same time.

    Shorebank has three secrets, Taub says today. First, it has stuck to the notion that a bank “can be an engine for growth.” Second, it takes a holistic approach to its community (each of its five companies has a complementary function). And it is aggressive in seeking outside money, whether from the federal government or from foundations, or corporations, or individuals.

    Joan Shapiro makes a final, crucial point. Shorebank picks its fights, she says. It can’t save the unsalvageable.

    Snip ~

    Another source of income is the sale of Shorebank shares, which are not tradable. Stockholders — who own $17 million in equity in the corporation — include 37 corporations, various foundations, churches, and individuals. Among them, according to Joan Shapiro, are Amoco and Standard Oil; the Ford, Mott, Joyce, and Mac Arthur foundations; and the United Church of Christ and Episcopal Church of the United States.


    Shorebank says it has been profitable every year since 1975. It’s fair to ask how profitable. According to a local business magazine that ranks the 363 banks in the six-county Chicago metropolitan area, the answer is, “modestly.” Judged by return on assets, South Shore Bank was in the bottom quartile at the end of 1991.

    Planning asked a banker who recovers the assets of failed savings and loans for the Resolution Trust Corporation to analyze Shorebank’s 1991 annual report — the latest year for which audited figures are available. She raised an eyebrow at the numbers: net income down by 41 percent from 1990, loan losses up from $565,000 to $955,000. Her conclusion: “Shorebank is spread too thin. It’s trying to be everything to everybody.”


    In another outreach effort, Shorebank in 1988 helped set up the Southern Development Bancorporation, based in Arkadelphia, Arkansas. Its double mission is the same as Shorebank’s, except that the Arkansas institution is focusing on jobs, not housing, and it is targeting a 32-county area instead of individual neighborhoods. Before she went to Washington, Hillary Rodham Clinton was a member of the board of SDB.


    • I think all of those companies listed have micro-financing interests. Interesting… United Church…Jeremiah Wright’s Church. We recognize Joyce Foundation as part of CRIME, Inc. Ford Foundation is always around too. Shore was propped up by Oil companies?

      “Amoco and Standard Oil; the Ford, Mott, Joyce, and Mac Arthur foundations; and the United Church of Christ and Episcopal Church of the United States.”

      If I recall the Southern Development Bancorporation in Arkansas was initiated by Bill Clinton, because he wanted a bank like Shorebank in Arkansas.

  6. Shorebank also has received funds from the Northern Trust Corporation…

    Look who have served together for years on the Board of Directors of The Chicago Council on Global Affairs

    Michelle Obama
    First Lady of the United States

    William A. Osborn
    Chairman of the Board, Northern Trust Corporation

    Also remember the VIP treatment the Obamas got on their mortgage from Northern Trust… you know, in the house they bought with Rezko’s help…

    … and wasn’t Patty Blagojevich involved in that deal, too?

  7. In the Shore Bank discussion I saw no mention of Cong. Jesse Jackson, Jr. or his father Rev. Jesse Jackson, Sr. Both lived just a few blocks from the Shore Bank headquarters on 71st Street. I also lived in the neighborhood at the time of the founding and knew Ron Grzywinski, Milton Davis, and Tom Lewis, another young black banker.

    What was the role of Cong. Jackson on Obama’s entrance n politics for IL Senate, then US Senate seat and Presidential election? Did the Congressman have any role in Shore Bank bailout? If not, why not?

    Did Rev. Jackson have any role over the years in Shore Bank development from 1973 on to current day? His leadership in SCLC Operation Breadbasket and later Operation PUSH generated black businesses, including banking in Chicago and elsewhere. Did his relationship and loyalty to Democratic party, especially in Clinton Administration, provide opportunities for collaboration with the Shore Bank team? Was there political relationships involved in the rise of Jesse Jr. to the Congressional seat?


    ShoreBank Said to Be Shut by FDIC

    The Federal Deposit Insurance Corp. will shut down ShoreBank Corp., according to people with direct knowledge of the matter.

    ShoreBank Corp., the Chicago lender operating under a Federal Deposit Insurance Corp. cease-and- desist order for 13 months, will be shut and most of its assets will be bought by Urban Partnership Bank, two people with direct knowledge of the matter said.

    Urban Partnership, CREATED to make the acquisition, will keep branches in Chicago, Cleveland and Detroit and continue to focus on low-income communities, the people said, speaking anonymously because the matter is private. Urban Partnership will have Tier 1 capital of at least 8 percent and its chief executive officer will be William Farrow, a former executive at the Chicago Board of Trade and Bank One Corp., they said.

    “The good news is that the bank, under this new management, will still be there and serving the South Side community,” said Dory Rand, president of the Chicago-based Woodstock Institute, a non-profit that studies community lending. “They have made the South Side a decent place to live and work and do business.”

    Investors include Goldman Sachs Group Inc., General Electric Co., JPMorgan Chase & Co., Citigroup Inc. and several philanthropic groups, the people said. ShoreBank raised more than $145 million from the firms in May and the funds were placed in escrow pending a decision by the U.S. Treasury to provide another $75 million in bank bailout funds.

    Capital Shrinks

    The bank kept losing money and the government elected not to provide more capital, people with knowledge of the rescue efforts said. The private capital will now be used for Urban Partnership, the person with direct knowledge of the matter said.

    ShoreBank was founded in 1973 in Chicago’s South Side, an area that includes some of the city’s lowest-income neighborhoods. The area is also home to enclaves of wealth such as President Barack Obama’s Kenwood neighborhood, close to the University of Chicago.

    The bank’s Tier 1 capital shrank to $4.1 million at the end of June from $26.3 million on March 31 and $43.5 million at the end of last year, according to the FDIC. The bank had “engaged in unsafe or unsound banking practices,” the FDIC said in its order last July. In March, ShoreBank was ordered by the FDIC to boost capital within 60 days, a deadline it missed.

    ShoreBank posted a $119 million loss in 2009 and a $39.6 million loss in the first half of this year, according to FDIC figures. It had a net loss of $9.3 million in 2008.

    Representative Spencer Bachus, the ranking Republican on the House Financial Services Committee, said in May that firms that had banded together in an attempt to save ShoreBank were making the investments to gain favor the Obama administration.


      • That article answered some of my questions. I still would like to see the names of these new owners. Shorebank gets money from the Fed and went through it like water. I would like to know how they could possibly lose so much and who/what did they lose it to?

        “From ZeroHedge: Failure Of Obama’s Pet ShoreBank Costs Taxpayers $368 Million, Which Immediately Goes To Goldman Sachs Among Others…”

        This group is getting so predictable. Close something, open it up under another name. Is the Attorney General in Illinois corrupt too? That he won’t look into these slimy deals? At one time I thought we could depend on Fitzgerald to clean up the slime, but no he went on to far better things.

  9. FDIC Seizes ShoreBank; Reinstalls Failed Management
    National Legal & Policy Center ^ | August 23, 2010 | Paul Chesser
    Posted on Monday, August 23, 2010 5:33:26 PM by jazusamo

    One ShoreBank co-founder, named Jan Piercy, was a Wellesley College roommate of Hillary Clinton. Hillary and Bill Clinton have long supported the bank and are small investors.

    Another co-founder of Shorebank, named Mary Houghton, was a friend of Obama’s late mother. Obama’s mother worked on foreign MICRO-LOANS for the Ford Foundation. She worked for the foundation with a guy called Geithner. Yes, you guessed it. This man was the father of Tim Geithner, our present Treasury Secretary, who failed to pay all his taxes for two years.

    Another founder of ShoreBank was Ronald Grzywinski, a cohort and close friend of Jimmy Carter.

    The former ShoreBank Vice Chairman was a man called Bob Nash. He was the deputy campaign manager of Hillary Clinton’s presidential bid. He also sat on the board of the Chicago Law School with Obama and Bill Ayers, the former terrorist. Nash was also a member of Obama’s White House transition team. (To jog your memories, Bill Ayers is a Professor at the University of Illinois at Chicago. He founded the Weather Underground, a radical revolutionary group that bombed buildings in the 60s and 70s. He had no remorse for those who were killed, escaped jail on a technicality, and is still an admitted Marxist).

    When Obama sat on the board of the JOYCE FOUNDATION, he “funneled” thousands of charity dollars to a guy named John Ayers, who runs a dubious education fund. Yes, you guessed it. The brother of Bill Ayers, the terrorist.

    Howard Stanback is a board member of Shorebank. He is a former board chairman of the Woods Foundation. Obama and Bill Ayers, the terrorist, also sat on the board of the Woods Foundation. Stanback was formerly employed by New Kenwood Inc., a real estate development company co-owned by Tony Rezko. (You will remember that Tony Rezko was the guy who gave Obama an amazing sweet deal on his new house. Years prior to this, the law firm of Davis, Miner, Barnhill & Galland had represented Rezko’s company and helped him get more than 43 million dollars in government funding. Guess who worked as a lawyer at the firm at the time. Yes, Barack Obama).

    Adele Simmons, the Director of ShoreBank, is a close friend of Valerie Jarrett, a White House senior advisor to Obama. Simmons and Jarrett also sit on the board of a dubious Chicago Civic Organization.

    Van Jones sits on the board of ShoreBank and is one the marketing directors for “green” projects. He also holds a senior advisor position for black studies at Princeton University. You will remember that Mr. Van Jones was appointed by Obama in 2009 to be a Special Advisor for Green Jobs at the White House. He was forced to resign over past political activities, including the fact that he is a Marxist.

    Al Gore was one of the smaller partners to originally help fund the CHICAGO CLIMATE EXCHANGE. He also founded a company called Generation Investment Management (GIM) and registered it in London, England. GIM has close links to the UK-based Climate Exchange PLC, a holding company listed on the London Stock Exchange. This company trades Carbon Credits in Europe (just like CXX will do here) and its floor is run by Goldman Sachs.
    Along with Gore, the other co-founder of GIM is Hank Paulson, the former US Treasury Secretary and former CEO of Goldman Sachs. His wife, Wendy, graduated from and is presently a Trustee of Wellesley College. Yes, the same college that Hillary Clinton and Jan Piercy, a co-founder of Shorebank attended. (They are all friends).

    Interesting? And now the closing…

    Because many studies have been exposed as scientific nonsense, people are slowly realizing that man-made global warming is nothing more than a money-generating hoax. As a result, Obama is working feverishly to win the race. He aims to push a Cap-and-Trade Carbon Tax Bill through Congress and into law.

    Obama knows he must get this passed before he loses his majority in Congress in the November elections. Apart from Climate Change he will “sell” this bill to the public as generating tax revenue to reduce our debt. But, it will also make it impossible for US companies to compete in world markets and drastically increase unemployment. In addition, energy prices (home utility rates) will sky rocket.

    But, here’s the KICKER (THE MONEY TRAIL).

    If the bill passes, it is estimated that over 10 TRILLION dollars each year will be traded on the CXX exchange. At a commission rate of only 4 percent, the exchange would earn close to 400 billion dollars to split between its owners, all Obama cronies. At a 2 percent rate, Goldman Sachs would also rake in 200 billion dollars each year.

    But don’t forget SHOREBANK. With 10 trillion dollars flowing though its accounts, the bank will earn close to 40 billion dollars in interest each year for its owners (more Obama cronies), without even breaking a sweat.

    It is estimated Al Gore alone will probably rake in 15 billion dollars just in the first year. Of course, Obama’s “commissions” will be held in trust for him at the Joyce Foundation. They are estimated to be over 8 billion dollars by the time he leaves office in 2013, if the bill passes this year. Of course, these commissions will continue to be paid for the rest of his life.

    Some financial experts think this will be the largest “scam” or “legal heist” in world history. Obama’s cronies make the Mafia look like rank amateurs. They will make Bernie Madoff’s fraud look like penny ante stuff.


  10. David, I will place your comment over here. Any addl info here too for future, again thanks.

    • David Wallace | December 6, 2010 at 1:27 pm | Reply
      Several weeks ago in the discussion of the collapse of Chicago’s Shore Bank, I asked questions on whether there was any involvement of Rev. Jesse Jackson, Sr. or Cong. Jesse Jackson, Jr., both of whom live just blocks from Shore Bank headquarters on East 71st Street. The Congressman represents the district Shore Bank is located and Sr. Jackson encouraged the growth of minority owned banks since the late 1960s. I have seen no reply to my inquiry. Do the Jacksons have any relationship to Shore Bank? As Democrat operatives, they must have some relationships with those involved in Shore Bank.

  11. Regarding the South Shore Bank collapse in Chicago some time ago, I wrote some questions about Rev. Jesse Jackson, Sr. and Cong. Jesse Jackson, Jr.’s involvement. The postings did not even mentioned them, though each lived just a few blocks from the bank in that South Shore neighborhood. Jesse Sr. pushed open the door for minority banks to grow. This took place at the time they put together the team to take over South Shore as a community-friendly bank. Jesse knew all those people, and it is highly likely that they were involved in some form. It seems strange that such a well-connected Democrat cadrie working in his neighborhood and later represented by Cong. Jackson, Jr. and now by Jesse Jr’s wife as the Alderwoman for that Ward. I do not see how any of the Jackson’s could escape notice or involvement. I have primary knowledge of Rev. Jackson’s activities in those times. In spite of my questions, I never saw any comment nor had any reply to my inquiries.

    • Dave,

      I apologize for not responding earlier. I checked into a connection with Jesse and didn’t find anything conclusive. If you find some article, please post it.

      I think this is a money laundering bank. There is no reason for this small “neighborhood” bank to be doing business in Indonesia or anywhere internationally. Micro-financing? It doesn’t make sense. Something was definitely going on that so many pitched in to save it rather than to let it fail. Who will investigate when Obama is connected to it?

  12. .. on the list is….
    “Unitarian Universalist Congregation at Shelter Rock”

    ..Go to their website and read about their community outreach…..not much of it seems to be in that community.

    “Interfaith Alliance”…. “We work to protect the separation of church and state and are at the intersection of religion and politics.

    NOTE:….. “Our national staff works on capital hill and with the White House.”

    “We are currently at work on threats to public education and stem cell research. ”

    Also has a reference to interfaith.org.
    this talks of their grant writing program…. it wont let me cut and paste info tho.

    THIS is their annual report…

    Click to access VEATCH_2010.pdf

    *interesting that they have drawn super heros…. and super heros are who are shown on the chicago Tribune website article about the new shorebank failure….

    ,,,page 9 starts listing the 2010 grants…. hmmm….UU United nations office got $90 THOUSAND??????

    Why do taxpayers need to pay UN 90 thousand?….. also, TONS of grants for progressive causes around the US, including orgs to get out the votes in OH, MI, etc….

    TONS of taxpayers cash has been funnelled through this ” church”!!!!!…. a church that is trying to “protect” the separation of church and state?

    Also thought it was interesting that the Chicago Trubune used a photo of superheros and this annual report is illustrated in superheros…. hmmm…..

    • Excellent finds VG. I know they worked with Teddy Kennedy..now to find what Dems are involved with them now.

      Where is UU of Shelter Rock? Who heads it up?

      Using Shorebank to funnel money or launder it?

    • This is your new NGO /UN/ Government at Work. This is the latest strategy. You’ll only be hearing more of the same in the months and years to come. It’s the latest (work the system coming from both the private sector and political agendized religious motivated groups for social change). It’s the latest strategy taught in every universtiy.It works for government (Obamas agenda) and the little people get to be involved in every aspect of change writing proposals, getting matched grants from lobbyist, government orgs. the UN and every foundation you can imagine. Progressive churches like the Unitarians have been involved for some time.This is Soros in his Sunday suit.

    • We need to find out who sponsored a bill that would give a grant to the UU. That money apparently is then sent or used by the arm of the Church that is intertwined with the UN. The government already gives/underwrites the UN…so they are on a double dole through this church, the UU.

    • For me, here are the biggest connections:

      Stanley Armour, Madelyn, and Stanley Ann Dunham.

      BHO Sr. (sponsored by)

      Lori Starfelt (enough said)

      Orphans. Africa.

      Are we Ruth less?

      • Are we Ruth less? Funny
        Forgot the Lori Starfelt story
        Oh, but one more importanf facet since Renee mentioned Druids,it reminded me….It’s the MOON, everybody, It’s really about the MOON.They’ve given us many clues but all the little clues are so intwined and obvious we don’t see them right off.

        • Sun Myung Moon?

          btw, should have h/tipped Princess Papooski on that one about Ruth less.

          • MOONIES Miri…MOOnies..like MOOney KIRK Miri…Mooooo….cows too.
            Plaid burqas w/FUR too Miri.Like butterscotch Miri ?

          • the whole Moon family…..they are basically Universalists as well.
            Then there’s lovely Eleanor roosevelt, who wanted more than anything to visit the Taj Mahal in her later days, which she did and talks engagingly about the Moon there.
            Ann Dunham and her daughter Mya talk about gazing at the moon.
            Mark OKoth Obama Ndesandjo in his interview with Jeff Koinange (who may be kinfolk) …Jeff says” do you know your intitials spell Moon” in which Mark acts as if he’s just realized this says, “my brother mentioned that to me (I think he was referring to Joseph).
            then there’s NASA with all its’ talk and it’s related Moslem influence on Mathematics , physics ect. Moslems and the Moon very important.
            We had a total eclipse of the moon on December 21st 2009 on the winter soltice. I stayed up and watched it. (This is important date for all Mythologicly influenced religions, i.e. the god of Mythra relating back to Catholic practice of being in the dark (roughly 21st is shortest day) to moving into the light(Sun God). Catholics took the Pagan myths and turned it to Catholic worship of Jesus the light , son/sun of God.
            Obama’s Pythagrian type temple setting he used when he won the Presidency , a pagan temple moon and sun worshippers. Then of course there’s much more relating to Egypt and place where Obama said , hey that guy looks like me to one of the Pharoahs. Rah , the Moon god. Many of the Banker CEO’s have a fascination with Egytian art and relics.
            I shall not go on, but it’s fascinating . Kenya, a place where there is a place called Mountains of the Moon.

            • The Mayans predated the Muslims on their much vaunted astronomy. Besides which, they swiped it from the Greeks and others (Muslims, I mean, not Mayans).

        • Does anybody remember long ago there used to be adds on just about any site I went to on RUTH Chris Steak House? That has some very interesting history. Just thought I’d throw that in with the Ruth things. Don’t see the adds anymore .

    • This is old but you probably need to see this anyway. Here’s the lovely activist giving money to TIDES. This is just a community activist’s foundation with a Religious sounding name who don’t have to report there money.

  13. Bridgette,I know this does not answer your question “We need to find out who sponsored a bill that would give a grant to the UU.” But I found this interesting on how the UU has gotten so much of their $$.



    Caroline Veatch left a Unitarian legacy of greatness, a rare resource for the advancement of Unitarian Universalist faith in action: the Veatch
    Program of the Unitarian Universalist Congregation of Shelter Rock in Manhasset, NY. That Long Island congregation grants several million dollars every year not only to strengthen activities of the Unitarian Universalist Association of Congregations, but also to foster worldwide aid by means of the Unitarian Universalist Service Committee, and to provide grants to both UU and non-UU organizations. They provide:

    1. Grants to strengthen UU institutions and community life.
    2. Grants to projects that increase UU involvement in social responsibility.
    3. Grants to strengthen Unitarian/Universalist or indigenous religions institutions worldwide.
    4. Grants to nonprofit organizations addressing issues of social and economic justice.



    Caroline Veatch

    Caroline Evans Veatch (April 17, 1870-October 4, 1953) was a modest
    widow who, because she was homebound, was never able to attend the Unitarian society she joined late in life. Her bequest transformed the congregation that inspired her and has sustained both the Unitarian Universalist Association and many other UU organizations.

    Caroline Hornbrook Evans was born in Evansville, Indiana, to Samuel George Evans and Anna Louise (Hornbrook) Evans. Her family had been prominent in the life of the community for three generations. Her grandfather was instrumental in setting up the first public school in Evansville, so there could be “a free school devoid of all sectarianism.” She was raised a Presbyterian. A cousin remembered Carrie, as she was always called, as friendly, fun-loving and outgoing. After graduating from high school, she entered Indiana University in 1893, earning a bachelor of arts degree in English.

    In 1902 she married another Evansville native, geologist Arthur Clifford Veatch, at Evansville’s Grace Presbyterian Church. Soon after, they moved to Baton Rouge, Louisiana, where Arthur was chair of the geology department at Louisiana State University. When he left academia, Arthur worked as an oil geologist, making so many trips, both domestic and international, that Caroline later remarked that she always kept a bag packed so she could accompany him at a moment’s notice. This peripatetic existence was made easier by the fact that they had no children. In addition to spending time in Wyoming, Australia, and New Zealand, they lived in London from 1913 to 1919. They then built a house in Plandome, Long Island, now a suburb of New York City. Starting in 1926, Arthur began to prospect for oil in the north of Germany, acquiring royalty rights to potential oil fields he discovered. He died in 1938, leaving his German royalty rights to his wife, who continued to live in Plandome with her sister Della for the rest of her life.
    Veatch, says Weary, never complained about her disability. Instead, they talked about many topics of common interest, including her recollections of her husband. That led her to mention the royalty rights to German oil fields he had left her, but which—after the Great Depression, the Nazi takeover, a World War, and several corporate reorganizations—had not been making any payments to her. Was there, she wanted to know, an attorney in the congregation who could find out how she could obtain her royalties? If successful, she promised give half of the overdue payment to the church.

    After two years of effort, Nickerson succeeded in sorting out the records and conflicting claims. In 1952 he remitted $7,168 to Veatch, who promptly gave half to the congregation. She continued to thus share the subsequent payments. When Weary pointed out that this went beyond her promise, she said that she not only intended to split all such future income 50/50 as long as she lived, but to leave her oil rights to the church in her will.

    In 1953 Veatch died of cancer. Weary conducted the memorial service at the North Shore Unitarian Society.

    When natural gas was discovered in the German oil fields, the Veatch bequest became quite valuable. In the late 1960s attorney Harvey Cohen went to Germany on behalf of the church to ascertain the nature and amount of the society’s assets. Subsequently, another lawyer from the congregation, Robert Adelman, helped to secure more favorable tax treatment in Germany, doubling the rate of return. In 1973 congregation’s annual return from the oil fields reached $10 million; during the next three years it climbed to $20 million. Each year the congregation faced the pleasant responsibility of deciding what to do with its unexpected wealth.

    From the beginning, the North Shore Society mirrored Veatch’s generosity by giving loans and grants to neighboring Unitarian congregations. It also made substantial gifts to the denomination. On two occasions it saved the Unitarian Universalist Association (UUA) from bankruptcy. The first was when a bank loan taken out in the final days of the Dana McLean Greeley administration unexpectedly came due and there was no unrestricted capital left to pay it off; the second when UUA resources were strained by the expense of publishing the Pentagon Papers and fighting the resultant legal harassment by the Nixon administration.


    • Title: Geography and geology of a portion of southwestern Wyoming with special reference to coal and oil

      Author(s): Veatch, A.C.

      Publishing Organization: U.S. Geological Survey


      • The Rothschilds, Rockefeller, Standard oil of Indiana. on and on. It’s no doubt mr. Veatch didn’t just go to Germany with a few dollars in his pocket and buy up an oil well. European central bank (where Rothschilds originate)in Frankfurt Germany. The connections are important. Condeleeza Rice served on oil company Boards ,just as Richard Holbrook and many others. You have to have connections to own anything that looks or smells like oil and profit.

        or read this.Read it all…..If you aren’t familiar with this many names we’ve stuhttp://www.oocities.org/rothschildrg/mbled upon for the last 3 years have connections here.

        • RICE. Like the University in Houston and that MARSHALL connection there as well as ANNE RICE-interview with a vampire or two dahling…
          Old mulatto families of New Orleans dahling and witches…
          Don’t forget the kraft..

          • Yes Louisiana, one must understand the history from St. Croix (Hamilton of the Federalist Papers/Alias publio and the French Creoles kicked out to Arcadia/Canada/New Brunswick/New Zealand—-but to New Orleans. Then all the Jesuit missions to Louisiana (major jewish/Catholic) connections .Hamilton ‘s history is very telling. Remember, he’s shot in Dual by Burr….Read history of Aaron Burr .Louisiana’s history is full right up even today…it even adopted a different set of laws in the judicial system/reciprocity? I going off again. Anyway the Jesuit theme /mysticism/creale, mulatto,gypsie/catholic/jewish caba/cryto jewish ties are all there. You have to dig so deep to connect the dots in Louisiana because lots is hidden and mired in secrecy.

      • And by the way, what is it about Indiana? where the Veatches are from, where Obama went right before he went to Hawaii to visit his dying grandmother, where the Orlando S. Lefforge was from or went to University,there’s more of em can’t think of em right now.

  14. Leza, EVANS ? NOTE*

  15. hummm…
    UNITARIAN – Cyberfiber


  16. William Cohen: Biography from Answers.com
    http://www.answers.com/topic/william-cohen – Similarto William Cohen: Biography from Answers.com

    Top. View more History, Politics, Society videos …. Religion, Unitarian Universalist … Cohen served as the vice president of the Maine Trial Lawyers Association

    • http://en.wikipedia.org/wiki/William_Cohen
      Rye bread…like the Bread and Pony Circus ?
      Alf ?
      Bridgette ?
      Everybody ?

      • Secretary of Defense, William Cohen, like I said Renee, Alexander Hamilton’s position during war with French…who negotiated a deal.Again notice the First Jewish /then Catholic turn for William Cohen….then A Universalist…..Universalist is sort of like the one for all and all for one of relilgious misfits, a Truth, even if I offend somebody, it’s the absolute truth. They don’t claim anything but believing in god of all people and anything else goes.They are at or near the tope of the groups who believe in one world ,one government,one universal religion for all…..=PEACE .

  17. [PDF]
    action for justice – Unitarian Universalist Servic…

    our work with Unitarian Universalist con- gregations and other …. ian Association (AUA) sent fact-finding missions to ….. Norma and Harvey Cohen. Katherine

  18. Religious Institute | List of Endorsers
    http://www.religiousinstitute.org/list-of-endorsers – Similarto Religious Institute | List of Endorsers

    Reverend Valerie Mapstone Ackerman; Unitarian Universalist Association, … S. Allen; American Baptist Church, Full Gospel Baptiste Church; Harvey, LA …… Rabbi Ayelet S. Cohen; Jewish, Congreation BethSimchat Torah; New York, NY …

    • And Harvard and Oxford probably house some of the most extensive authorship of Universalists, Lutheran, Babtist and so on literature on these religious entities.

  19. Unitarian Universalist Congregation at Shelter Rock « Standing …

    Dec 10, 2010 … Blog post courtesy of Betty Jeanne Rueters-Ward, Youth and Young Adult Program Coordinator, Unitarian Universalist Congregation at Shelter …

    • Note the name Rueters

      • ALF ! I found it years ago on another blog we met at. WARD is all around on digs also. Poppy name I mentioned to Ali John too. Like Montgomery Wards and Elizabeth Montgomery name choice for her daughter. I know there is a connection here.

  20. just type in anything Rothschild and Rueters

  21. I think too we shoud be looking at the Grunbaum/Gruenbaum/ again. Many Nazi, commie associations. Most all the jewish Grunbaums seem to have been coming to US at various jewish expulsions from Germany, Vienna all over Europe. There’s definately something there??

  22. Green

    Lots of kinds of trees Alf-Baum. I kept wondering on the tree types too. Do you remember the tree story you told me of that I looked up ? Druids, Pics etc.. ? It goes into my work on the Peck group also.

    • Gruenbaum/also some used Grun Gruen =same people …Aldolf Grunbaum, and Harvard—lots of the Grunbaums are part of Rockefeller center and other Rockefeller enterprises…..or the Nazi Gruenbalm Project…..can’t remember what it was callled connects to project paperclip and MK ultra and there are lots connected with geneology/genetics/population control which goes back to Rockefeller projects. The Grunbaum name must be of aristocratic origins somewhere.
      Yeah, Greenbaum/Gruenbalm. Probably tons connected to Cohen, don’t know. The Rothschild clan in “City of London Bought Rueters Media,all news publications long ago and have controled it since……Murdock?Australian connection/ and another most wealthy individual of Hong Kong/China….oil/bank connections/and media ,the guy I mentioned just recently Li Ka Shing is tied with these guys. His son Richard Li sold or bought some media to Murdock.It doesn’t stop here. Clinton connections to Hutchison Whampoa (Whampoa Bay is the major shipping port area in Hong Kong which Li Ka shing (whose other son was East/West Center Pres. 1981-84) owns along with strategic Panama Canal docks bought during the closing of our military ports there (I think during Hilary and Bill’s time). I know I am going off on tangent but for sure the Obama, Clinton, Bush connections are tight somewhere and it’s these wealthy groups controling them—there’s no question in my mind, Please note anything you find on Rothschilds goes back to the same thing at the heart . That the countries with out a central Bank run by them are the countries now being disrupted and taken over by these elaborate Banks/Oil Co.s and their military/government pawns.

      • I like that ‘Alf-Baum’. Like I can’t see the FORRESt(like in the Forrester lady married to a Rothschild) for the TREES……Wood as in Dubois and so on. Wood, Forrest, Trees,……..(Soetoro, meaning), Sotomayer,meaning), Zepeda, meaning) . Where’s the Oil name I wonder. Lord Mayer amschel Baer, the original name for the Rothschilds (their Shield as in Michelles family name Shields, and her Meyer family name, Shields is also a name I find connected with Marina Shields Ndesanadjo). Or Lefforge’s name associated with Childs name…..on and on it goes. Where is stops is really your choice, the distination is the same.The name of our banks here in all the Walmart Stores Forrest/Woods.

  23. Alfy, I found all you posted very interesting…I’ll look into some of it. Also, Black & Veatch: Power Generation & Natural Gas. A connection? do you know much about Black & Veatch. I know they have done very large contracts for the gov. in Iraq and Afghanistan…cliams of fraud of tax payer’s money? on the contracts done.

    • I don’t know a thing about Black and Veatch.Maybe they’re contracts to build their power grid in Iraq. We’re building everything else for Iraq. Will check.

    • Black. The first person that came to mind with Black connections was Shirley Temple Black. Notice her brother’s name then skip down to her marriages (military), Hawaii connection, Ambassador to Ghana, Chzec., There are many connections here if you explore them. She probably was a conduit for getting information in and out for OSS or CIA, but it never says that here.http://en.wikipedia.org/wiki/Shirley_Temple

  24. There is a research thread on the other blog to look into this. Will you move your postings there please.

  25. Bob Nash is also a known CIA asset. Check the book by Terry Reed: Compromised

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