Ex-Bears QB Jim McMahon Sued By FDIC

4/10/2012 5:05:56 AM

The FDIC is hoping to sack former Chicago Bears quarterback Jim McMahon. Multiple reports say the federal agency has sued McMahon in hopes of recovering over 100-million dollars in bad loans given to Broadway Bank. McMahon was on the board of the bank for five years, but only approved one loan. The FDIC says the "Punky QB" and other board members were "grossly inattentive" to bank affairs. McMahon says the lawsuit is without merit and will be dismissed.

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