Charlie Gasparino Says End Of The Line For Shorebank

Fox Business Network’s Charlie Gasparino has said that politically well connected bank Shorebank has been told by the Federal Deposit Insurance Committee (FDIC) that it is closing the bank and it is heading for "heading for the FDIC resolution process." Shorebank is well connected to the Obama administration and had asked for $75 million in bailout funds and this request was denied.