Alexi Giannoulias: Who Said What?

Senate Candidate Alexi Giannoulias

Failure of Democratic Senate Candidate Alexi Giannoulias’s family’s bank, Broadway Bank, has complicated the race for President Barack Obama’s old Senate seat. the Federal Deposit Insurance Corporation seized the bank on Apr. 23. Now, there is speculation that the White House is distancing itself from Giannoulias, and Giannoulias is even using his family’s bank failure to attack Republican Senate Candidate Mark Kirk. Other reporters and politicos weighed in on Giannoulias.

“If Alexi Giannoulias pulls this one off, it’ll be one for the annals of political history: He’s trying to cast the failure of his family’s bank – which he ran as recently as four years ago and which failed Friday, the latest casualty of the bad loans in the run-up to the financial crisis — as a reason to sympathize with him and vote for him.”

– Ben Smith, Politico, “Giannoulias campaigns on bank failure”

“How much more clear does President Obama have to make it that he’d be thrilled if Giannoulias did a Jack Ryan and withdrew in order to give the party a mulligan in this key race?”

– Eric Zorn, Chicago Tribune, “Can Giannoulias Take a Hint? Evidently Not”

“I think this is something they will be flogging him with for the rest of the campaign,” said Woods Bowman, a DePaul University political science professor and former Illinois state representative. “And it’s a long time from now to November.”

– Woods Bowman, DePaul University Political Science Professor & former Illinois Legislator, Medill Reports, “Giannoulias tries to put positive spin on bank failure, but will anyone buy it?”

“Giannoulias’ claim smacks of desperation. Anyone truly looking for culprits would start with the people who ran Broadway. Most banks have been able to weather the recession. This one failed mostly because of its own mistakes.”

– Chicago Tribune Editorial, “Who’s to blame for the failure of Broadway Bank?”

“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’s reckless business practices.”

– statement from Republican Senate Candidate Mark Kirk’s campaign, Chicago News Cooperative, “F.D.I.C.’s Seizure of Senate Candidate’s Family Bank Further Complicates an Illinois Race”

“You forced one candidate out for lieutenant governor, because you didn’t like his profession or his personal life. It’s really interesting, it’s just very interesting how people go through a primary, and say, ‘You have to step aside because we don’t like what happened.’”

– Mayor Richard Daley, Chicago Tribune, “Daley Says Giannoulias Should Remain as Senate Candidate”

What Alexi said:

“I’m not comparing my situation to anyone else’s. I’m very fortunate and I realize that. But I have a new perspective on just how tough it is out there for so many people and that’s what’s going to make me fight even harder.”

– Democratic Senate Candidate & Illinois Treasurer Alexi Giannoulias, Chicago Tribune, “Bank failure a nail in Giannoulias’s campaign”

“It’s quite likely that the bank will fail. I hope I’m wrong. I hope they can raise the capital to keep the bank going and they’re fighting hard to do so but it’s tough out there for a lot of banks of which Broadway Bank is not immune to these same challenges.”

– Giannoulias, Chicago Tribune, “Giannoulias seeks to blunt damage, says family bank likely to fail”

“People are disheartened and disgusted with politics, especially in Illinois, where there’s a black eye in Illinois politics — scandal and corruption and pay to play, which is why we need fresh leadership.”

– Giannoulias, Chicago Tribune, “Alexi Giannoulias officially in the Senate race”

Related Links

Chicago Reader: Giannoulias is Just Like Us | Chicago Reader: Curtains for Broadway Bank?

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