Is there a bigger Political Douchebag than Alexi Giannoulias?

April 27, 2010

What does a sleezebag thug democrat do when his daddy’s bank goes under? He blames George W. his failed bank has nothing to do with terrible business practices… Mark Kirk didn’t force Giannoulias to give money to mobsters.

Does he think voters are that stupid?

From the Chicago Trib:

The commercial, which aides say will air across Illinois, comes just three days after federal banking regulators seized control of Broadway Bank.

In the ad, black and white photos of Broadway Bank and Giannoulias’ father are shown as the 34-year-old Democratic state treasurer says Broadway helped “thousands of people achieve the American dream.”

Arguing that the bank was another example of a “family business” that has gone under with the recession, Giannoulias then slams Kirk, a North Shore congressman, for voting for policies backed by President George Bush that “got us into this mess.”

Broadway Bank went under after numerous problems, most notably suffering major losses on scores of commercial real estate loans. Federal regulators earlier this year cited the bank for unsound banking practices. Now run by Giannoulias’ brothers after their father died, Broadway Bank was unable to meet last week’s deadline to raise $85 million.

But in recent years it has become a political problem for the candidate as critics have questioned Giannoulias’ role in the bank’s failures and what role he played in making specific loans at Broadway, including to a pair of men with criminal records during his time as a senior loan officer.

As part of Friday’s seizure, Broadway Bank was acquired by MB Financial Bank last week. In the hours after the announcement, Giannoulias held a press conference in which he said Broadway’s failures shows he and his family are also victims of the economy, just like many voters. It’s a theme he repeats in the new commercial.



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