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Still more trouble for Alexi

Thursday, Apr 27, 2006

As I told Capitol Fax readers earlier this week, Dem treasurer nominee Alexi Giannoulias was planning to meet with reporters in an all-out attempt to improve his image.

There appears to be mixed results. He answered some questions and backtracked from some of his dumber comments about an ex-mobster, but the Tribune found more problems.

Citing bank privacy laws in response to new questions about loans made by Broadway Bank, Giannoulias would not comment about the bank’s relationship with another borrower, Boris Stratievsky, whose companies received millions of dollars in loans before his federal indictment on money-laundering charges last year. […]

[Ex-mobster Michael Giorango] runs companies that own dozens of properties in the Chicago area, Florida and South Carolina. He also has financed real estate deals with other convicted felons. Broadway Bank in the last year has extended more than $6 million in mortgage loans to a company called 1201 South Western LLC run by Giorango and another convicted bookmaker, Demitri Stavropoulos.

The Broadway loans helped the firm acquire properties including a Loop restaurant and a West Side commercial property that boasts two large Giannoulias campaign signs.

Giorango’s 1201 firm also has made millions of dollars in mortgage loans to dozens of other property owners. The state Department of Financial and Professional Regulation said it was unclear whether the 1201 firm should have registered as a mortgage lender. “We’re going to do further inquiries,” agency spokeswoman Susan Hofer said.

Read the whole thing. There’s plenty more.

- Posted by Rich Miller        

  1. - The original Bill - Thursday, Apr 27, 06 @ 7:42 am:

    This guy is a joke. Vote for Chris!

  2. - anon - Thursday, Apr 27, 06 @ 7:57 am:

    Don’t know if he’s a joke or not but he’s certainly toast. Its bad enough when someone like Blago misleads voters about how he is going to change the tone in Springfield but to already have this much baggage will not play at all with the voters.

  3. - Ravenswood Right Winger - Thursday, Apr 27, 06 @ 8:03 am:

    Saint Obama must be kicking himself for endorsing this neophyte.

    It’s not too late for the Democrats to sack Alexi and nominate someone else.

  4. - zatoichi - Thursday, Apr 27, 06 @ 8:10 am:

    I’ll take “Bush League Rookie” for $20.
    Who is Alexi Giannoulias?

  5. - HeKnowsBarack - Thursday, Apr 27, 06 @ 8:23 am:

    Maybe The Obamarama could “ask” Alexander to step down….

  6. - Backyard Conservative - Thursday, Apr 27, 06 @ 8:31 am:

    Obama should cut the guy loose and return the contributions from Giannoulious which financed his Senate campaign.

    It also shows bad judgement on Obama’s part to pair up with this guy in the first place.

  7. - yougotta be kidding me - Thursday, Apr 27, 06 @ 9:59 am:

    Shocking! Another corrupt Illinois politician? He’ll fit right in. Look for Alexi to run for Governor in 2010…

  8. - Bluefish - Thursday, Apr 27, 06 @ 10:42 am:

    My opinion of Obama already had gone down a bit over this endorsement and now these growing allegations indicate that Obama didn’t do his homework and was only repaying the contributions he received for his Senate run. And he is the face of ethics reform for the DNC?

    Looks like we’ll have another female Republican as Treasurer in IL.

  9. - Wumpus - Thursday, Apr 27, 06 @ 10:53 am:

    Sad thing is, unless the dems pull the rug from under him, he’ll still win.

  10. - Lee - Thursday, Apr 27, 06 @ 1:25 pm:

    Sounds like Obama, the wonder politician made a major bad decision. How can this be???? Oh yeah, remember the bungled attempt to take on McCain, who quickly proceeded to take him to the woodshed. As time goes on, Obama will be further exposed for his real political skills or lack thereof. Looks like the Republicans keep the Treasurer’s position. Hum!! Wonder if Obama will be weighing in on the 17th Congressional democratic mess?

  11. - bored now - Thursday, Apr 27, 06 @ 1:27 pm:

    oh give me a break!

    let me see, a chance for the republicans (who’d like to win *one* state race this year) and the madigan boys to gang up on an outsider?!?! god bless the combine!

    (i guess i can do righteous indignation; whodathunkit?)

    a bank has loaned money to the mob? according to someone i know who’s done mob prosecutions in new york, you’d be hard pressed to find any bank in the country that hasn’t done this. the mob apparently figured out about spreading it around (as a means of covering their tracks as well as seeking influence) a long time ago. have you ever heard of forensic accounting? where do you think it came from?

    secondly, alexi is a *long* way from toast. i know, i know, the party won’t support him — he’s an outsider. but until i see madigan pony up millions of dollars for the republican in the race (and, hey, anything’s possible), alexi is still the front-runner. easy. i won’t believe otherwise until i see all those signs with jesse standing next to alexi come down.

    banks don’t do background checks for good reason. trying to hang alexi for legal loans to unsavory characters may sell newspapers, but it certainly won’t win (or lose) elections. money, ground troops and credible issues do. this issue hasn’t gotten out of punditland yet — you certainly won’t find people on the street talking about broadway bank’s loaning practices…

  12. - zatoichi - Thursday, Apr 27, 06 @ 2:13 pm:

    Bored, there are probably many banks who have done similar loans with/without background knowledge and many politicians have something in the past. The issue is what pops out of your mouth that the press will jump on. The newspapers/TV will have a field day going after anything that will make headlines and sell papers/increase viewers. If you want to run for office, ya gotta know that so why wouldn’t you practice your personal soundbites and have some backgroud cover going? Particulalry as a noobie, don’t say/do something stupid where the big guns will simply shed you in a flash. This guy is acting like he is running for the fraternity presidentcy, not statewide office. He may be very smart and capable, but you would not know that because of his statements.

  13. - bored now - Thursday, Apr 27, 06 @ 3:07 pm:

    zatoichi, i agree with you. he’s clearly had missteps, but he’s already beaten the full force of the dpi with this as their primary issue. can’t imagine that republicans can do any better. declaring his candidacy dead seems a little zealous to me.

    my guess is that he will win despite his naivete unless the republicans start raising serious money to beat him. and i just don’t see that happening. i don’t see that happening for topinka, let alone the treasurer’s race.

  14. - Swami - Thursday, Apr 27, 06 @ 6:43 pm:

    Obama should have done his homework first. Makes me think twice about him. Alexi’s hands are dirty - he won’t win. Voters are sick and tired of dirty politicians.

  15. - anon - Thursday, Apr 27, 06 @ 7:33 pm:

    to - i voted for mangieri - I did too. Can we get him back, please - can we get him back?

  16. - jersey guy - Thursday, Apr 27, 06 @ 8:55 pm:

    why would the repubs step in front of an oncoming train? especially when alexi was kind enough to tie himself to the tracks.

  17. - Papa Legba - Thursday, Apr 27, 06 @ 9:08 pm:

    Don’t you get it? Anybody? This is Blago’s attempt to load up the ticket with candidates that have more baggage than he does. This way he can look pretty good as he throws a candidate under the bus as needed.

Sorry, comments for this post are now closed.

* Reader comments closed until Tuesday
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