Krol lays out the problems ahead.
Democratic state treasurer candidate Alexi Giannoulias must overcome a fundamental flaw as well as a Catch-22 as he fights to keep his wounded campaign alive.
Boiled down, the flaw is that the guy asking voters to put him in charge of the treasury is vice president of a bank that has loaned millions to convicted bookies, a prostitution boss and a fellow facing a money laundering charge.
Which leads to Alexi’s Catch-22: either his banking experience is relevant — meaning he has to answer for why the banked loaned money to shady characters — or he wasn’t very involved in the bank’s operations, which undercuts his claim to run for the office.
At this point, even the ill-informed members of the George Ryan jury could see this isn’t exactly the best recipe for victory come November. It’s led to whispers in some Democratic circles that Giannoulias might want to bow out before his campaign circles the drain. […]
“He really has no opinion on that,†said Madigan spokesman Steve Brown when asked if Giannoulias should drop out. “It’s a question his supporters have to start answering.â€
I think that last sentence sums up Madigan’s real opinion.
LIVE session coverage...
- corvax - Monday, May 8, 06 @ 6:14 am:
Enough already!
All the coverage of this non-issue just points up that Alexi is an independent fighting combine elements of both parties in a way no one has ever had to.
The language above implies that the bank has loaned money to pimps, bookies and money-launderers qua pimps, bookies and money-launderers and that’s not true. the bank is operating in a heavily regulated environment and has been accused of no wrong-doing. these are legal loans with legal collateral made to entities that might be owned in whole or in part by individuals who have had legal problems; that’s true of every bank.
also, the article above uses the plural as if to suggest there are scores of such borrowers. i pay pretty close attention to political press coverage and i think i’ve heard of 2 such individuals.
sure Alexi didn’t respond too well when these non-stories broke, but that’s hardly cause to presume his candidacy’s demise.
why be a vehicle for an autocratic party leader who doesn’t weant an independent, charismatic progressive posing a possible threat to his little girl and a beleaguered republican party desparate to hold onto its only state office?
- Anonymous - Monday, May 8, 06 @ 7:08 am:
CORVAX is obviously a code name used by Al’s mother.
- phocion - Monday, May 8, 06 @ 7:18 am:
Dear Alexi:
Buh-Bye!
And that’s not “buy” as in, “Daddy, buy me an office.”
It’s “BYE” as in, your 15 minutes are up.
- yougotta-be kidding me - Monday, May 8, 06 @ 8:33 am:
If this guy get’s to November, my house will be up for sale. If he get’s elected, I am out of here!
- Anonymous - Monday, May 8, 06 @ 9:19 am:
What’s wrong, isn’t he Irish enough or in the tank enough for you guys? Federal regulators have not found or even alleged any wrongdoing, but because he wasn’t the Speaker’s guy, he needs to go? Guess again.
- anonymous - Monday, May 8, 06 @ 9:19 am:
Time for Democrats to find a replacement - and quickly. Maybe the party can make it part of their 17th Congressional District happenings later this month. Candidate Alexi G has far too much baggage that hits home specifically in the area of the State Treasurer’s duties. It’s too bad we all didn’t know more of this six months ago.
- anonymous - Monday, May 8, 06 @ 9:22 am:
There are some amateurs with very thin skin. This isn’t about the State Party Chairman. It’s about a candidate who has too much baggage, specifically targeted to policy areas associated with the responsibilities of the State Treasurer.
Again, the party should make this replacement part of the 17th District’s activities so we end up with a new candidate for state treasurer and congress all at once. Would save money and time.
- anonymous - Monday, May 8, 06 @ 9:24 am:
Obama blew it so bad on this one, but that’s OK if he takes corrective action. Corrective action is finding a new candidate for State Treasurer. Senator, we’re waiting.
- Anon - Monday, May 8, 06 @ 9:24 am:
This is a non-issue since banks don’t ordinarily do criminal background checks when issuing loans. Alexi’s bank is one of the most aggressive lenders in Chicago, financing much of the real estate investments that have transformed chicago over the last 10 years. alexi’s family bank made the first loan to about every greek restaurant and business in Chicago along with much of the businesses on Devon Ave. IF you went through Bank One or any other banks records you would find convicted felons that have gotten loans. I got news for you - that is not illegal. It’s a business decision based on credit history, not criminal history, and unfortunately banks as businesses look first at credit. When you are one of the biggest community banks in Illinois and Chicago, you will give loans to some mother theresas and some that aren’t boy scouts. It’s a business. Alexi will win in Novembe handily.
- VanillaMan - Monday, May 8, 06 @ 9:57 am:
This is so stupid. You can’t puff up the Treasurer’s office in crap ads in order to knock the Treasurer, and then run on a ticket with Giannoulais as the replacement.
A Blagojevich/Giannoulais ticket will not win in a campaign year when gubernatorial corruption and unethical behavior is the number one issue.
If I were Rod, I’d be making sure Giannoulais is dumped, and Dawn Clark Netsch is resurrected as his replacement.
- Anonymous - Monday, May 8, 06 @ 10:08 am:
Yeah, because Dawn would be so supportive of Rod’s record as a ‘reformer’. HAHAHAHAHAHA
- anonymous - Monday, May 8, 06 @ 10:16 am:
Best State Treasurer in modern history: Adlai Stevenson. Let’s bring him back to serve one term!
- Debbiecrat - Monday, May 8, 06 @ 10:24 am:
What about Halvorson as a replacement for Alexi? It should be a woman to go against Radagno.
- corvax - Monday, May 8, 06 @ 10:49 am:
what about Halvorson’s efforts to sabotage all the hard work Cong. Jackson has put into Lincoln National Airport? think she could win with no African American votes to speak of? whose bidding is she doing?
- Merlin - Monday, May 8, 06 @ 10:51 am:
If Alexi were smart he would tell Madigan in no uncertain terms that he is staying on the ticket and to call off the attack dogs. Unless he broke the law, he should not get off the ticket.
If allegations of corruption were grounds to be forced off the ticket the democrats would have no one running.
- John 3:16 - Monday, May 8, 06 @ 11:29 am:
I’m still waiting for the award winning investigative reporters at the Tribune and Rich to tell us what Broadway Bank did wrong.
We keep getting reminded of the background of the people who borrowed money from the bank, but the fact that there is not a single allegation that the bank did anything wrong is always buried.
This has started to get really lame. And everyone predicting Alexi’s demise is going to start sounding as lame as the people who posted bold predictions of Mangieri’s victory (and his greatness) in the week before the primary.
By the way — if everybody thinks his supporters are running from him — why was there no mention of Jan Schakowsky’s luncheon a couple of weeks ago where she proclaimed (to the applause of Obama and others) that the “smear” campaign against Alexi has to stop.
- Nobody Sent - Monday, May 8, 06 @ 11:34 am:
What does Madigan have on the Daily Herald?
Seriouslly, this is pathetic. Talk about a sore loser. Once again, Madigan is demonstrating he cares more about himself than the Party. Rob Schneider got his ass handed to him, trying to torpedo Alexi now doesn’t make Madigan a winner, it just makes him an ass.
- Gigi - Monday, May 8, 06 @ 11:40 am:
Jan Schakowsky is the last person I would want defending me if I were Alexi. MJM is only trying to protect the majority in the House and doesn’t want a unethical Treasurer candidate hurting the lower ticket. Come on Alexi get out while the mess is just a small spill.
- Get Real - Monday, May 8, 06 @ 11:50 am:
But he’s ok with an unethical Governor hurting the ticket?
Last I looked, Rod’s office is the subject of over a dozen investigations; Broadway Bank-none.
- anonymous - Monday, May 8, 06 @ 12:02 pm:
It’s time for a seasoned professional, who has a proven track record, to step up to the plate to run for State Treasurer. There is plenty of time to address this problem. Alexi G can spend the next four years doing great things at his bank to prepare for a run four years from now. Meanwhile, the Democratic ticket won’t carry around a very heavy anchor at the bottom of the ticket. This is politics. This is professional.
This is NOT about Obama or Madigan or anyone else. This is about whether our state ticket continues to carry a heavy load at the ticket’s bottom. Come on, wake up folks.
- cermak_rd - Monday, May 8, 06 @ 1:33 pm:
You know for all this talk of Giannoulias’ bank loaning to unsavory characters, I’m not sure he still can’t win. Among other things, this stuff is coming out early and the GOP candidate hasn’t exactly made a big splash up to now. Plus there’s the additional info that the federal regulators don’t appear to be disturbed by all this.
I don’t see why Madigan needs to be peeved. He had a candidate and the voters didn’t want him. Perhaps if Mangieri had actually run a campaign in Chicago, he might have won.
- Carl Nyberg - Monday, May 8, 06 @ 2:14 pm:
Has Giannoulias or his bank been accused of doing something illegal?
This does sort of smack of collusion between the political insiders and the media insiders to find creative ways to put Giannoulias’ name and media sexy crimes in the same story.
If I’m not mistaken there are plenty of actual crimes being committed by political insiders that the media doesn’t bother to cover until the U.S. Attorney sends out a press release.
If there’s no allegation of a crime here, perhaps the media insiders could make themselves useful and look at the questionable practices of current public officials.
But the chumminess of the media and pols will keep this from happening. So Giannoulias gets hassled to create the appearance that the system ferrets unethical behavior without anyone from inside the combine having to pay the price.
- Tony Soprano - Monday, May 8, 06 @ 2:28 pm:
Madigan and Daley don’t want Alexi to win because Alexi will either be the next governor and that scares Madigan because he wants Lisa. Or he will be the next mayor, and that scares Daley. Alexi should feel confident that all of this b.s. is happening to him because it shows how scared he has made the machine.
- Little Egypt - Monday, May 8, 06 @ 2:30 pm:
The only reason this guy won in the primary was because Golden Boy Obama endorsed him. Stick him with a fork - he’s done.
- Just Observing - Monday, May 8, 06 @ 4:18 pm:
Tony Soprano… fugetaboutit — Alexi will NEVER be Governor or Mayor — he it a total goof and you know nothing about politics.
- Wile Coyote - Monday, May 8, 06 @ 4:51 pm:
9:24:Banks do perform background checks on loan applicants!!!!
- Levois - Monday, May 8, 06 @ 5:08 pm:
Could this turn into a Jack Ryan situation? And would the Republicans be able to take the seat uncontested if Alexis must drop out of the race?
- scoot - Monday, May 8, 06 @ 7:39 pm:
All I can say is….NA NA NA NA ..NA NA NA NA HEY HEY HEY …GOOOD BYEEEE!!!!!
The GOP retains the Tresurer’s office
- Tom DeLay's Mom - Monday, May 8, 06 @ 8:11 pm:
Yawn, this issue has grown boring and tiresome. Half the people posting on this message string are ABSOLUTELY CLUELESS - the other half are likely campaign volunteers, or even paid staff, one hundred percent compromised - when it comes to objectivity.
To the person tossing around the conspiracy theory that Speaker Madigan and Mayor Daley loathe Alexi because they fear for their empires? You read too much Shakespeare and Alexi is no Greek hero…that’s totally ridiculous.
To the other guys arguing that Giannoulias poses the most clear and present threat to the Illinois House majority - well, you’re just plain wrong too. Your threat comes from the other guy on the ticket with 11 letters in his last name. Hint: he has 98% name recognition and re-elect numbers in the toilet. Giannoulias who?
Sure, I understand there are some Party loyalists who are pissed “the wrong guy won” the primary - but, campers, enough is enough - he won the race fair-and-square…whether you like him or not. Breathing more life into this story will not compel the Kid to get off the ticket - the Kid’s parents sank a few million into his race - the family ain’t walking away any time soon, folks.
Alexi made a complete mess for himself with his cavalier approach (and miserable responses) to the media questions thrown at him about a few of the loans his bank approved.
But let’s be honest here, this is not the first time a candidate with a background in banking was attacked for the loans his bank approved or accounts it has maintained.
Peter Fitzgerald ring a bell? He faced the same stuff: laundering drug cartel money, etc., if I recall - and he beat an embattled Moseley-Braun (Radogno is less impressive with less of a base and will probably run an equally lackluster campaign).
Alexi must answer these questions directly, honestly and soon - if he doesn’t he’s in trouble - if he does, he can right the ship.
Now…let’s talk about more interesting races - this one’s stale.
- Northwest Side Dem - Monday, May 8, 06 @ 8:29 pm:
Alexi cannot lose.
- Tony Soprano - Monday, May 8, 06 @ 8:52 pm:
I can see a Barrack/Gianoullias ticket for the White House in ‘08.
- anonymous - Monday, May 8, 06 @ 9:08 pm:
Alexi picks up about 30% downstate. He loses the general 59-41%. You heard it here first.
Too much baggage. Should get out. Oh, and I backed him in the primary and I’m a huge Barack fan.
- anon123456 - Tuesday, May 9, 06 @ 8:49 am:
First off, I agree this story is getting old. For those of you who are against Alexi, there are many other things to bring up: no political experience, his father is a republican (and I believe in reality Alexi is also), his banking experience isn’t anything special, the fact that the only reason he is even around this is money, questioning how serious he is about all of this, when you see him at events with his campaign staff their lack of professionalism–that worries me if he gains the power to select personnel. There are many issues besides all that the media is writing about.