Yesterday Rick Moran at the American Thinker reported that the feds have put off the report on the Giannoulias family's Broadway Bank in Illinois until after the election. The Federal Deposit Insurance Corporation (FDIC) is supposed to issue a report six months after they take over a bank.
Ed Morrissey at Hot Air reported Saturday:
"The release of the report before the election could have been another political headache for Giannoulias in the close contest with Republican Mark Kirk. Giannoulias has been on the defensive over his role in loans Broadway Bank made to convicted felons while he was a senior loan officer, as well as other troubled lending that contributed to the bank's collapse early this year.
"The inspector general of the Federal Deposit Insurance Corp. typically issues a "material loss" report, which details issues in a bank's failure, about six months after the institution is taken over by the regulators. Broadway, which the FDIC accused of "unsafe banking practices," was closed on April 23, at a cost to the FDIC of $394.3 million.
"When it issued an interim report in August, the inspector general's office said the final report would be issued on or before its Nov. 14 due date. On Friday, agency lawyer John Davidovich said the report is not expected within the next two weeks."
I wonder when the report would have been released had the bank belonged to the Mark Kirk's family.
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