Bank Stress and President Obama's Suitmaker

May 11, 2009

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Chicago-based Hartmarx Corp., which makes suits worn by President Obama wears, is facing bankruptcy.
The Chicago area may just be getting a reputation these days for standing up to big banks. Five months after workers at a local window manufacturer convinced Bank of America to pony up some credit to cover severance pay and on the same day that the Federal government released the results of a stress test on the nation's largest banks, protestors at a men's suit factory in west-suburban Des Plaines called for Wells Fargo to keep the business afloat until it can be sold. Business contributor David Greising has more.