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."
Don’t count the Cleveland Cavaliers out of the Paul George sweepstakes just yet.
The latest rumor involves a three way deal being discussed between the Cavaliers, Indiana Pacers, and Denver Nuggets. According to Hayes, the deal would send George and Kenenth Faried to Cleveland and Kevin Love to Denver.
Presumably, Indiana would end up with good picks and a few young assets.
David Harris is expected to be a savvy middle linebacker who will line up his teammates when they help. He's expected to provide some level of leadership, even in his first year in New England, as an accomplished-but-hungry 33-year-old who has not yet reached a Super Bowl.
What Harris is not expected to do is improve the Patriots pass rush. He was in on one sack in 900 snaps last season.
But in a roundabout way he might.
MORE: How does Derek Carr's new deal impact Jimmy Garoppolo?
There are dominos to fall now that Harris has been added to Bill Belichick and Matt Patricia's defense. How much will Harris play, and whose playing time will he cut into? Those questions don't yet have answers, but one of the more intriguing elements of the Harris acquisition is how he will benefit Dont'a Hightower's game.
If Harris can pick up the Patriots defense quickly -- and all indications are that there should be few issues there -- he could take some of the all-important communication responsibilities off of Hightower's shoulders.
Ever since taking the reins from Jerod Mayo as the team's signal-caller, Hightower has had to be on top of all requisite pre-snap checks and last-second alignment changes. It's a critical role, and one that Hightower performs well, but those duties place some added stress on the player wearing the green dot. Perhaps if part of that load can be heaped onto Harris' plate, that might allow Hightower to feel as though he's been freed up to focus on his individual assignments.
Harris' presence might also impact where on the field Hightower is used. Hightower may be the most versatile piece on a Patriots defense loaded with them, but with Harris in the middle, Hightower could end up playing more on the edge, where he's proven he can make a major impact (see: Super Bowl LI).
For Belichick and his staff, having the ability to use one of their best pass-rushers -- and one of the most efficient rushers league-wide, per Pro Football Focus -- on the edge more frequently has to be an enticing byproduct of the move to sign Harris. Especially since there are some question marks among the team's end-of-the-line defenders behind Trey Flowers and Rob Ninkovich.
We'll have to wait for training camp before we have an idea of how exactly Harris fits in with the Patriots defense. But the effect he'll have on his new teammates, and Hightower in particular, will be fascinating to track.