* One of the biggest problems with Gov. Rod Blagojevich, like George Ryan before him, is that he mixed fundraising with policy and appointments/contracts. This column on Treasurer Alexi Giannoulias, however, completely missed that very important point…

And [Giannoulias] has improved the state’s Bright Start college savings program while extracting an additional $3.5 million from the portfolio manager, Oppenheimer Funds, to be devoted to college scholarships. He tapped two financial gurus - Jose Santillan of LaSalle Bank and Albert Grace Jr. of Loop Capital - to advise his office on revamping Bright Start.

But here is where I get nervous. Three years ago, a statewide office-holder working with the private sector to improve state finances might have sounded like an innovative model.

After the Rezko and Kelly indictments, however, when the shade has been lifted on how outsiders landed powerful seats in state government and used them for their personal benefit, I am leery of voluntary advice-givers, charitable as they may be.

Giannoulias assured us his advisers were not compensated in any way and served as a goodwill gesture to the newly-minted treasurer.

Sincere? Yes. Naive? Yes.

* I checked the State Board of Elections’ website and found no contributions from Santillan, Grace and their respective employers. I called Giannoulias about this yesterday and he said that neither man has ever helped him raise money.

“Voluntary advice-givers” are important to politicians. And Giannoulias’ work with people from the financial sector isn’t particularly a new thing. It’s extremely difficult to work with or regulate the private sector if you don’t regularly talk to people in the private sector.

The problem arises when those “advice-givers” are also raising big bucks for politicians’ campaign funds. Lots of trouble arises from that, as Blagojevich and Ryan can most certainly attest.

Since that doesn’t appear to be the case with Santillan and Grace, I don’t see the problem. And if the Rezko fallout means we are now to forbid politicians from seeking advice and help from the private sector, we’re gonna find ourselves in big trouble very soon.

* Related…

* Rich Miller: About that impeachment memo: One of the biggest reasons why Republicans suffered so much in the wake of Gov. George Ryan’s humiliation was they never really abandoned the man. Sticking by him was probably the honorable thing to do, and he was certainly a legislators’ governor. But the public loathed him, and the Republicans have paid a high price for their loyalty.

The same fate is befalling the national Republicans over their refusal to abandon President Bush, the most unpopular president in recorded polling history.

So it makes perfect political sense for the Democratic speaker and state party chairman to dump on the Democratic governor. The more the public believes Blagojevich is an unfortunate abnormality and not the party’s standard-bearer, the less impact his troubles may have on Democratic candidates this fall…

The Democrats’ impeachment talking points memo itself, however, is a bloody mess.