ShoreBank bailout probe kicked out of Wall Street reform bill

Crain's Chicago Business reports:

ShoreBank Corp. won a reprieve from a potentially crippling federal investigation of alleged Obama administration pressure on some of the nation’s biggest banks to invest in the ailing South Side financial institution.

Before finishing the massive Wall Street reform bill early this morning, Senate negotiators killed a provision that would have required the inspector general of the Federal Deposit Insurance Corp. to examine all bank bailout deals since January 2009 for political pressure by the executive branch.

While broad in nature, the amendment — adopted Wednesday by House conferees — was clearly aimed at ShoreBank, and it would have complicated or at least delayed a financial rescue of the community-oriented lender known for its ties to current and former White House officials.

Is ShoreBank more corrupt than you think?