Gasparino: Lloyd And The Dancing Blankfeins Might Not Save Chicago Bank

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Remember that story from a few hours ago about Chicago-based ShoreBank, which was set to be seized today if it didn't come up with the necessary scratch to survive? And how Goldman Sachs, JP Morgan, Citigroup, Bank of America all stepped in at the last second to raise the money, led by Lloyd Blankfein who was personally working the phones and promising people "an all-access pass to Blankfein-ville" for opening their wallets? And it looked like things were going to be okay and Lucas van Praag had already commissioned the float for the inevitable parade of GS execs Saturday afternoon? Well Charlie Gasparino, because he hates feel-good stories, is here to ruin everything, reporting that the bank may very well go down for the dirt nap (alternatively, it might not, due to the fluidity of the situation). Sayeth Chaz:

“As of now Shorebank will not get bailed out. The consortium has not agreed to a final number. They are about $25 million short of the $125 million needed. From what I understand, the consortium of Goldman Sachs, JP Morgan, Citigroup, Bank of America do not want to give any more money.”

“The banks tell me there is a degree of political pressure to give money but I think at this point they are tapped out. They just had the meeting an hour ago, they had $100 million raised, they are $25 million short. And what they are telling me is they are not giving any more money.”

“But I will tell you this, the banks themselves are telling me that there is a degree of political pressure being applied by the Obama administration to bail this out…so we could get a last minute bailout…This is a very politically connected bank.”

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