From Comcast SportsNetCHICAGO (AP) -- In an attempt to recover 104 million, federal authorities have sued former Chicago Bears quarterback Jim McMahon and eight others involved in a now-failed bank that was at the center of the campaign for President Obama's old U.S. Senate seat.Seven former directors -- including McMahon -- and two officers of Broadway Bank ignored federal warnings about just how risky some of the bank's loans were, according to the Federal Deposit Insurance Corp. lawsuit filed last month. Two loans were approved in 2008 on the very day regulators "specifically warned" about "the risks that these types of loans posed to the Bank."In all, 104 million in losses from 17 loans "were caused by gross negligence" and breaches of fiduciary duty by the defendants, the lawsuit says.McMahon's involvement was confirmed Monday by a person close to the case who spoke on condition of anonymity because he was not authorized to speak publicly about the details. It was first reported by the Chicago Sun-Times.McMahon, the brash leader of the Bears, led the team to the 1986 Super Bowl victory over New England. He is now among dozens of retired players who have sued the NFL, blaming the league for concussion-related dementia and brain trauma.Also named in the FDIC lawsuit are relatives of former Illinois treasurer and Senate candidate Alexi Giannoulias. Giannoulias, who was an officer at the bank that was founded by his father before being elected state treasurer in 2006, is not named in the lawsuit. But the allegations of shady loans at the bank that was shutdown in 2010 dogged him throughout his unsuccessful Senate bid against Mark Kirk that year.In a statement released through his attorneys, McMahon said Broadway Bank's failure stemmed from the bank's inability to "withstand the greatest market decline since the Great Depression" and not any wrongdoing."With the advantage of 20-20 hindsight, the FDIC now blames Broadway's former officers and directors for not anticipating the same unprecedented market forces that also surprised central bankers, national banks, economists, major Wall Street firms, and the regulators themselves," he said. "I am proud to have served as an outside independent director for a brief part of the bank's history. The allegations in the complaint are utterly without merit and I expect to be fully vindicated."McMahon was on the board of directors from 2003 through late December 2008. The FDIC says McMahon played a role in only one of the 17 bad loans, when the board approved a 28 million loan that resulted in a loss of 19 million."Despite his board responsibilities," the lawsuit also says, "McMahon repeatedly missed critical board meetings."
BOSTON – For all that Isaiah Thomas has accomplished in his NBA career, the hallmark of his rise from the last player picked six years ago to where he is now is nothing short of amazing.
Thomas will be an All-Star for the second year in a row, but it’s not going to be as a starter.
The NBA announced the starting five for the Eastern and Western Conferences, respectively, Thursday night.
Despite not being named a starter, there is still a lot to be excited about the season Thomas is having.
The 27-year-old leads the Celtics in scoring with a 28.7 points per game average which ranks fourth in the NBA.
His 10.1 points scored in the fourth quarter leads all players in the NBA. And if he can maintain that average, he will become the first player since the statistic began being recorded in 1997 to average double digit points in the final quarter of play.
While most players try to be low-key in their desire to be an All-Star, Thomas has made it known to anyone within earshot that he deserved to not just be an all-star, but an all-star starter.
His head coach Brad Stevens agreed.
“He’s having a hell of a year,” Stevens said.
But not enough to earn what would have been a starting spot on the East all-star team which would have made him the first Celtic to do so since Kevin Garnett in 2013.
FOXBORO -- The Patriots have signed free-agent tight end Rob Housler to a future contract. The 6-foot-5, 250-pound target last played for the Bears but was released at the end of training camp.
Housler won't be eligible to participate with the Patriots during the postseason, but he will be available for the offseason program and training camp leading up to the 2017 campaign.
Housler taken in the third round by the Cardinals with the 69th overall selection in 2011. In 65 career games, he has 109 catches for 1,166 yards and one touchdown.
The Patriots may have been intrigued by Housler's skill set last summer when he caught one pass for 52 yards -- making two Patriots defenders miss in the process -- during a preseason game at Gillette Stadium. The Patriots and Bears held joint training camp practices in August that would have given Patriots coaches and scouts a closer look at everything Housler has to offer as a player.
Housler was one of the better athletes at the NFL Scouting Combine in 2011, running a 4.55-second 40-yard dash (fastest among tight ends), posting a 6.9-second three-cone drill, and recording a 37-inch vertical leap.
Bill Belichick and his staff hit big on a future-contract signing two years ago when a running back with a significant injury history was available to scoop up at the behest of then-assistant to the coaching staff Michael Lombardi. Since then, the Patriots still have never lost with Dion Lewis in uniform.