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Archives for: April 2010, 24
Giannoulias' Bank Fails
By Carole on Apr 24, 2010
Broadway Bank, owned by the family of Illinois Treasurer, Senate Candidate and Barack Obama ally Alexi Giannoulias (D), was shut down by federal regulators on Friday. While Mr. Giannoulias tried to portray his "father's bank" as a victim of a bad economy, his political opponent sees it differently. A spokeswoman for US Representative Mark Kirk (R) said, "While years of risky lending schemes, hot money investments and loans to organized crime led to today's failure, it's a sad day for Broadway Bank employees who may lose their jobs due to Mr. Giannoulias' reckless business practices." (source)
