Capitol Fax.com - Your Illinois News Radar » “The number of defendants would be many more”
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
“The number of defendants would be many more”

Friday, Oct 18, 2019

* The feds are gonna need a bigger boat

A federal prosecutor says criminal charges are expected to be filed against “many” figures involved in the failure of a century-old Bridgeport bank that made tens of millions of dollars in bad loans — until it was shut down soon after the bank’s president was found hanged in a customer’s bedroom.

Many customers of the failed bank, Washington Federal Bank for Savings, had connections to the Daley family and the 11th Ward Regular Democratic Organization, run by Cook County Commissioner John Daley and his nephew, Ald. Patrick Daley Thompson.

Assistant U.S. Attorney Brian Netols disclosed the anticipated criminal charges over the collapsed bank during a hearing in a bankruptcy-fraud case against attorney Robert M. Kowalski. […]

“This case is part of a larger investigation,” Netols told U.S. District Judge Virginia Kendall on Tuesday. “We are working toward charging . . . other individuals with the failure of a financial institution. The number of defendants would be many more.”

- Posted by Rich Miller        

10 Comments
  1. - @misterjayem - Friday, Oct 18, 19 @ 1:09 pm:

    A federal prosecutor says criminal charges are expected to be filed against “many” figures involved in the failure of a century-old Bridgeport bank that made tens of millions of dollars in bad loans — until it was shut down soon after the bank’s president was found hanged in a customer’s bedroom.

    Many customers of the failed bank, Washington Federal Bank for Savings, had connections to the Daley family and the 11th Ward Regular Democratic Organization, run by Cook County Commissioner John Daley and his nephew, Ald. Patrick Daley Thompson.

    Reads like the pitch for a new Netflix series.

    – MrJM


  2. - Amalia - Friday, Oct 18, 19 @ 1:09 pm:

    more news that I find very depressing. Not that I want bad guys to get away with things. it’s that public service is, or should be, noble. the amount of graft and grift at the state, local, and federal level is deeply sad. and taints the public sector. I’m sure there are bad guys in the private sector….and they touch these scandals….but somehow it’s only public service that gets the hit. gotta go get some of Lori’s donuts, need sugar.


  3. - Three Dimensional Checkers - Friday, Oct 18, 19 @ 1:18 pm:

    Not sad at all like Amalia. A lot of this has been a decade or many decades coming. A Hard Rain’s A-Gonna Fall.


  4. - Froganon - Friday, Oct 18, 19 @ 1:27 pm:

    Sad but vitally important. Kudos to the prosecutors who keep going. People are desperate for elected officials that work for the common good instead of serving themsleves and their donors.


  5. - Bobby Beagle - Friday, Oct 18, 19 @ 1:34 pm:

    One can only hope this is the beginning of the end for the Bridgeport syndicate of “the Machine”.

    The ward itself has heavily turned over towards of a mix of Chinese residents/property investors and Hipster/Yuppie types displaced from other parts of the city. The character of the neighborhood is drastically different from even 10 years ago and it will be interesting to see what happens in the next city election if an effective opposition arises.

    A lot of this nonsense should have ended during the Hired Trucks/Silver Shovel mess, but that’s the benefit of having such insidious ability to manipulate multiple arms of city and local government.

    It was stated earlier this week on these boards and will undoubtedly turn out to be true: it turns out these guys aren’t all that bright, and it looks like they got very, very greedy and sloppy recently.


  6. - Responsa - Friday, Oct 18, 19 @ 1:38 pm:

    When one finally (if often reluctantly) understands and accepts that many many public servants do not go into that profession to actually provide, you know public service, it all fits together. Multi generational political dynasties don’t stand alone and have obviously needed higher scrutiny than they’ve received. This valuable lesson was emphasized on day one of Poli Sci 101 at UIUC several decades ago. Still holds true in spades.


  7. - OneMan - Friday, Oct 18, 19 @ 1:51 pm:

    MrJM

    Not Netflix, NBC and it will be called Chicago Feds


  8. - witnessprotection - Friday, Oct 18, 19 @ 2:08 pm:

    Used to see Kowalski on his yacht, in the playpen, all the time. He would have some characters on there.. Think breaking bad types.


  9. - JoanP - Friday, Oct 18, 19 @ 2:09 pm:

    =Reads like the pitch for a new Netflix series.=

    I think Starz already had that series. It was called “Boss”, and I miss it.


  10. - BR91 - Friday, Oct 18, 19 @ 3:05 pm:

    “There’s a lot of bodies buried in the desert.”

    -Ace Rothstein

    Appropriate considering “The Ant” Spilotro was from Bridgeport.


TrackBack URI

Sorry, comments for this post are now closed.


* Question of the day
* *** UPDATED x1 - DPI responds *** Corruption roundup
* An obvious conflict of interest that obviously needs addressing
* Cullerton's campaign finances are a mess
* Chicago Bears open thread
* House floor fight looms after Delgado appointed to Arroyo's seat
* Feigenholtz wants to move to Senate
* The elbowing begins for Cullerton's job
* Boost Your Cannabis License Application by Partnering with Labor
* *** UPDATED x1 *** SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* *** LIVE COVERAGE ***
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............


Loading


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller