ShoreBank Rescued by Wall Street

ShoreBank Rescued by Wall Street

Seventy-two banks have failed so far this year in the United States. But Chicago’s Shore Banks will live to see another day. That will happen thanks to a flood of investments from an unlikely source: Wall Street. ShoreBank is nationally renowned for its approach to lending and community development. So was it just too good to fail? Phil Ashton has an analysis on the rescue of ShoreBank. He’s an expert in community economic development and an assistant professor at the University of Illinois at Chicago.

Music Button: Kirk Fletcher, “Continents End”, from the CD My Turn, (Electo Groove)