Posted on 03/09/2010 4:34:10 PM PST by raptor22
Politics: Another bank failure is nothing new these days — except if the bank is run by the family of a U.S. Senate candidate who profited handsomely and lent millions to a convicted felon. But then, that's the Chicago way.
'I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street," President Obama said in a recent interview with "60 Minutes." Speaking to those bankers, he said: "You guys are drawing down 10, 20 million dollar bonuses after America went through the worst economic year that it's gone through in — in decades, and you guys caused the problem."
Not all those fat cats, apparently, are on Wall Street. Some are on Main Street in the president's hometown. One of those "guys" recently won the Democratic nomination for the U.S. Senate seat once held by Obama.
He's an Obama protege and fundraiser. His name is Alexi Giannoulias, and his family runs the Broadway Bank in Chicago, a financially troubled institution that the feds appear ready to seize and shut down. He is running for U.S. Senate from Illinois.
Last Friday, Crain's Chicago Business reported that the Giannoulias family stood to collect more than $10 million in federal tax refunds even if the bank does fail. "It's quite likely the bank will fail," the Chicago Tribune reported Giannoulias as saying last Wednesday, unless "they can raise the capital to keep the bank going," an amount estimated at $85 million.
(Excerpt) Read more at investors.com ...
'I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street," President Obama said in a recent interview with "60 Minutes." Speaking to those bankers, he said: "You guys are drawing down 10, 20 million dollar bonuses after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem." Not all those fat cats, apparently, are on Wall Street. Some are on Main Street in the president's hometown. One of those "guys" recently won the Democratic nomination for the U.S. Senate seat once held by Obama. He's an Obama protege and fundraiser.He didn't run for office to be helping out a bunch of fat-cat bankers, he ran for office to help a different bunch of fat-cats.
How much you wanna bet, the feds seize the bank, after the election. Just one Chicago thug, doing another, a solid.
Not news to those of us who have been following this slimebag, but good information nonetheless.
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