* House Speaker Michael Madigan usually takes no chances when it comes to his district. Madigan’s Republican opponents are generally friendlies that can be counted on to safely disappear.
This year’s self-sacrificing victim is Patrick John Ryan, whom the Republicans say “is a 30-year old resident of Chicago’s 13th Ward who voted in Democratic primaries until this year.” He has no campaign committee, which means he hasn’t raised any real money.
So, the Illinois Republican Party has decided to tweak Madigan and gin up some publicity by holding a “fundraiser” for his “opponent.” The party issued this tongue in cheek press release today…
“We applaud Mr. Ryan for taking on such an enormous challenge of trying to unseat Speaker Madigan, and we want to show our support,” said Chairman Brady. “He’s definitely got the intestinal fortitude we look for in our Republican challengers. I’d just like to meet him.”
The “funder” is Thursday, September 30, at English, 444 N. LaSalle Boulevard, from 5:30 – 7:30 pm. Be there!
In a year in which TARP has become a dirty word from coast to coast, most Republicans are ripping the government’s decision to bail out Wall Street through the Troubled Asset Relief Program.
But one local congressional candidate can’t do that —because his day job is to market securities for a firm that offered investments backed by TARP and subsidized by another federal bailout program.
Hultgren has said he would’ve voted against TARP, and he denied that he was the lead marketer for the firm on TARP-backed securities. Here’s what his firm, PTIA, marketed…
One of the four funds offered by PTIA in the past year or so is known as Performance Trust TALF Fund Ltd. TALF stands for Term Asset-Backed Loan Facility. The TALF program was set up by the Federal Reserve Bank to help banks get toxic assets off their books by loaning those who would buy the securities up to 90% of the price at low interest rates — something that wealth adviser Carol Pepper described to Forbes Magazine as “an incredibly free lunch.”
And what about Hultgren’s flat-out denial that he was involved with marketing any of that? His firm threw him right under the bus…
But PTIA, in answer to written questions submitted by me, said, “Mr. Hultgren’s role has not changed.”
* And if you watch this video at work, make sure you have an understanding employer or you’ll be bringing some problems on yourself. It’s from Vote Naked Illinois and it’s ostensibly about encouraging early voting. As you might imagine, it’s also the most unusual Illinois political video I’ve ever seen. It’ll probably also become the most watched. The thing just went up yesterday and it has almost 3,000 views already. Take a peek…
As a Jew, I am somewhat offended by Seals’ baseless and meaningless attack on Dold. It is such a silly attack. The Jewish community does not expect non-Jews to cease all business on the Jewish holidays. The Jewish community will not be swayed by such pandering.. if anything, it is a turn off. Dan Seals will better serve the 10th District, Jewish and non-Jewish, by talking about real, not contrived issues.
Gotta wonder why Gags Brady is not smart enough to do the funder in the district? But then this is the genius who brought the band that sells strip club underwear to the state fair — actually it was the bad band ….
If the Herald & Review thinks that its a “new low” to accuse your opponent of pay-to-play politics when they receive a campaign contribution within days of casting a vote that benefited the donor financially, they are in for a rough-and-tumble election season.
1. I love the “Adam Brown’s not as big of a crook as Rod Blagojevich” defense;
2. I love the “Staff approved of this contract first” defense — as if Rod Blagojevich’s staff never greenlighted a contract for a campaign donor.
Hare has the uncomfortable spot of looking like he is avoiding his voters who need to be won over this late in the campaign. I’m not sure who he is expecting to carry him to victory, but he is definately basing his hopes on unions and his district’s historic leanings.
He is really stumbling. Schilling’s campaign is opening up town hall meetings and feeling that their candidate can answer any questions thrown at him, while Hare is doing the opposite. Hare has some room to retreat, but he needs to start addressing voter’s concerns bravely. I don’t envy him, but it is what he needs to do to defend himself right now.
Hare isn’t a good campainger, but he can’t win votes based strictly on party loyalties this year. He shouldn’t be losing, but he is.
That Vote Naked ad is my favorite TV commercial of the year. Well done!!
If they raise any funds for the Madigan opponent, he can use them how he pleases I assume. Does the guy even have a committee? A bank account? - I’m guessing not. Good luck giving those checks to someone.
The Seals move was inevitable. I’ve been waiting for the guy to do something to sink himself. I thought Aviva Gibbs was smarter than that - surprised to see her make that comment.
This is the kind of move that could turn Jewish voters off, give them an excuse to vote for a likeable Republican. Nice one Dan.
As someone who works with the Jewish community and as a former 10th District resident, I also have to say that this attack is offline. It is an insult for a campaign to dictate what holidays another candidate must have off. If Quinn attacked SLC for campaigning on any holiday, I would be equally stunned. Rabbi Balinsky is the director of the Chicago Board of Rabbis. If he has no problem with it, why should Aviva Gibbs?
There was a report in April that Hultgren also has failed to pay tens of thousands in taxes for his campaign employees, leaving hard-working Illinois taxpayers holding the bag. Do we see a pattern here? Tax dodging & lying… what other taxes has he been dodging?
Instead of playing childish games and whining, why didn’t Pat Brady recruit a better candidate to run against Madigan, if he doesn’t like the current candidate? Isn’t it Pat Brady’s party? Why would Pat Brady let Madigan run his party and choose gop candidates?
Mr. Hultgren was selling “the fund at one point had $10 million in assets and limited investors to those prepared to plunk down at least $1 million” - that’s helping average folks like us, he claimed?
Even worse - the fund was based in the Cayman Islands “so that investors could deduct on their state tax returns the interest paid on their loan from the Fed. Otherwise, the result would have been a negative investment return.” Good god!! That’s sick.
Keep trying, obvious. What’s “sick” is our ridiculous tax code altogether. This is hardly the worst of it’s shortcomings, and the shortcoming is that a firm is more welcome elsewhere to begin with.
As for your cheap shot on “helping average folks”, I don’t think the point of Mr. Hultgren’s day job (or most people’s) is to “help” any given person besides his clients and his company…perhaps you’re thinking of his job as a State Senator, where he HAS been fighting for us.
I volunteer in my community to “help” out. This contrasts to when I go into work, where I’m earning a living. Differentiate the two, please.