Giannoulias seeks to blunt damage, says family bank likely to fail

[ccharles000]

Democratic U.S. Senate candidate Alexi Giannoulias sought to blunt a potentially damaging political issue today about questions regarding his involvement in his family’s struggling bank, which he said he expects will likely fail in the coming months.

But questions were still left unanswered following a more than 70-minute meeting with the Chicago Tribune’s editorial board. Among them were exactly what Giannoulias knew about convicted bookmaker Michael Giorango’s criminal past when he received loans from Broadway Bank, and how many of the bank's troubled loans were made while Giannoulias was working there.

Giannoulias also sought to explain nearly $70 million the bank paid out in dividends to him and his family in recent years, saying $29 million of that was taken out of the bank to diversify the family’s investments.

Giannoulias said he didn’t see the bank’s financial situation getting better as the election progresses.

http://newsblogs.chicagotribune.com/clout_st/2010/03/giannoulias-seeks-to-blunt-damage-says-family-bank-likely-to-fail.html

[Guy Whitey Corngood]

1. Just fucking great. I hope Kirk has some hooker/cocaine stories in his closet or something. nt

[global1]

2. What Is Going On In Illinois? - First Blago - Then The Lt. Gov Nominee......

and now this guy Giannoulias. I guess they are not good at vetting their candidates. This could kill this guys chances in IL - given the mind frame of the people. Can we get any better fodder for the Regressive's to use in 2010?

[Prism]

4. Oh, they knew. The President, too.

Everyone knew all about this guy. But President Obama and Giannoulias have long been close, supportive allies. So the Machine and the President backed him, and here he is.

Forget it, Jake. It's Chitown.

Everyone knew about Blagojevich, too.

Elevating corrupt, venal scumbags to higher office is kind of a hobby in Illinois.

Except Lisa Madigan. She's brilliant.

[golfguru]

5. The problem might be the hancho's doing the vetting! eom

[Peregrine Took]

3. Alexi is still very young. He should step down for the good of the ticket.

He could try to clean up the bank mess and come back in 10 years and run then.

This year is too critical to screw up.

I think either Dan Hines or David Hoffman should be given the nod to replace him. Both are "clean Gene's" and I think either one could beat Kirk.

[hulka38]

6. +1

Pip, you're no fool.

[depakid]

7. There ya go- (didn't take Nostradamus to see that coming)

Yet another Dem reinforcing the association with the banksters.

And running for Obama's old seat no less.

[Clio the Leo]

8. Did you all see the video of him crying?

Talking about his fathers bank and the fear of him losing it.

Came off very sympathetic IMO. (Replace "bank" with "restaurant" or "construction company" or "whatever" and it changes the perception.)