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Financial Bailout Stiffing Many Chicago Banks

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Crain's Chicago Business   |  Paul Merrion   |   October 13, 2008 09:35 AM

Read More: Bailout, Chicago Banks, Chicago Business, Corus Bankshares Inc., Fannie Mae Freddie Mac Bailout, Government Bailout, National Bank Of Commerce, Northern Trust Corp., Robert Glickman, Chicago News

Like many Chicago execs, Robert Glickman is studying the fine print of the $700-billion federal financial rescue plan.

"I don't think they'll buy a lot of commercial real estate loans," the CEO of Corus Bankshares Inc. frets. About 19.0% of his bank's loans -- mostly to condo developers -- are classified as "non-performing," more than any other Chicago-area bank.

"I would love to be bailed out, believe me. I would dance if I could sell my problem loans at a reasonable price," he says. But this is "triage for the most serious patients."


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Like many Chicago execs, Robert Glickman is studying the fine print of the $700-billion federal financial rescue plan. "I don't think they'll buy a lot of commercial real estate loans," the CEO of Co...
Like many Chicago execs, Robert Glickman is studying the fine print of the $700-billion federal financial rescue plan. "I don't think they'll buy a lot of commercial real estate loans," the CEO of Co...
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