Ill. Senate Candidate’s Bank Made $20 Million in Loans to Felons

wsj ^ | 4/2/10 | Susan Davis

[Nachum]

It’s a rough way to start the weekend.

Chicago Tribune

Alexi Giannoulias, the Democrat running for President Barack Obama’s Illinois Senate seat this fall, woke up this morning to see his face blazoned across the top of the Chicago Tribune with the headline: “$20 MILLION IN LOANS TO FELONS.”

Broadway Bank, the Giannoulias family bank, has been under scrutiny as it struggles to avoid a federal takeover. Giannoulias’s role at the bank has become a key issue in the Senate race against Republican Rep. Mark Kirk.

[raptor22]

This is the Chicago Way,
http://www.freerepublic.com/focus/f-news/2467531/posts

[ridesthemiles]

Amazing that NObama could not prevent the investigations into this bank for his buddy.

[1010RD]

The candidate’s brother and Broadway Bank president, Demetris Giannoulias, told the paper that his brother’s role was limited to “getting the appraisals ordered, getting the loan documents prepared, coordinating with attorneys, getting commitment letters prepared. All that kind of stuff.”

Alexi cannot have it both ways. He cannot be the big-shot financier who knows his stuff and the errand-boy who just got coffee at the office.

This is a critical race to win because it means so much to Illinois' own citizens. It allows us to break the grip of the Combine and embarrass Obama, laming him even more.

Now, please don't tell me that Kirk (who is not a conservative, but this is IL) is worse than Alexi.

Wouldn't it be nice to have more R's in the Senate? IL is not a state that can elect a conservative right now.

[Extremely Extreme Extremist]

Kirk supports partial-birth abortion. No thanks.

[SunkenCiv]

...the Democrat running for President Barack Obama's Illinois Senate seat this fall, woke up this morning to see his face blazoned across the top of the Chicago Tribune with the headline: "$20 MILLION IN LOANS TO FELONS." Broadway Bank, the Giannoulias family bank, has been under scrutiny as it struggles to avoid a federal takeover. Giannoulias's role at the bank has become a key issue in the Senate race against Republican Rep. Mark Kirk.

A gov't that robs Peter to pay Paul can always count on the support of Paul, plus the thug hired to rob Peter. Thanks Nachum.

[1010RD]

You know we agree on this issue. I hate abortion. It is abominable.

But, by not voting Kirk you get Alexi by default. Alexi is worse across the board.

To get what conservatives want we need majorities. Without majorities Obama continues to march us left of left field.

[STARWISE]

~~Chicago/Obama Way .... PING!

Broadway Bank had already lent millions to Michael Giorango when he and a new business partner, Demitri Stavropoulos, came to the bank in mid-2004. Although both men were preparing to serve federal prison terms, the bank embarked on a series of loans to them.

Alexi Giannoulias took a senior position at the bank at about the same time and used it as a launching pad for his political career. But as he campaigns to step up from state treasurer to the U.S. Senate, he has tried to distance himself from the bank's business with the pair and has been reluctant to detail his role.

Broadway is now suing to recover millions of the pair's delinquent loans as the bank struggles to avoid a federal takeover.

Obama supports Giannoulias

Hmmm .. Rahm could be dispatched to run for that seat yet ....;)

[onyx]

Hmmm .. Rahm could be dispatched to run for that seat yet ....;)

A lowly senate seat? Why not? It's for life.

[CPT Clay]

Won’t see this on MSM.

Will be “old news” by Oct. when the braindead mushy middle wake up and starts to pay attention.