Marathon Pundit: Giannoulias and Jaws: What did he know and when did he know it?

Monday, February 08, 2010

Giannoulias and Jaws: What did he know and when did he know it?

An article I linked to yesterday that has since been fleshed out; the State Journal-Register reported on the loans Democratic Senate nominee Alexis Giannoulias' approved to convicted pimp and mobster Michael "Jaws" Giorango while he was an officer at Chicago's Broadway Bank. "No bank performs criminal background checks when someone comes in to get a loan," Giannoulias told the paper. "If I knew now what I knew then, we probably wouldn't have approved those loans."

Ah...but he did know at least something in 2006, stating that Jaws had "some legal problems." And Giannoulis traveled to Florida to inspect Giorango's Broadway Bank-financed property.

What do you believe?

Well, I believe this:

"Instead of ducking questions about these critical ethical issues, Alexi Giannoulias should finally admit what he knew about Giorango's 'legal problems' before he authorized $15.4 million in loans to the known mob-linked pimp," said National Republican Senatorial Committee (NRSC) spokeswoman Amber Wilkerson Marchand. "Illinois voters have had enough of the culture of corruption surrounding the scandal-ridden Chicago political machine, and Giannoulias should immediately explain everything involving his family bank's interactions with the mob."

As far the financial mess that has enmeshed Broadway Bank, as I noted last night, Giannoulias promised an explanation about that issue around this time. "If I'm fortunate enough to make it out of the primary, we can have that conversation."

C'mon Alexi, use those jaws and start that conversation.

In fact, your primary opponents engaged you last week:

Another candidate in next week's Democratic primary for the Senate seat, Cheryle Jackson, called on Giannoulias to withdraw from the race. She said the bank controversy has "made him unelectable, probably in the primary and certainly in the general [election]." (Chicago Sun-Times, 1/27/10)

Hoffman's campaign manager, Michael Powell, said the bank's risky loans and insider dividends caused "a likely bailout and takeover by the FDIC." He called it "further evidence of what a disaster Mr. Giannoulias would be as the Democratic nominee for Senate." (Chicago Sun-Times, 1/27/10)

"The reason that this Broadway Bank story and revelation is of such significance now is because it goes to the heart of matters of job performance and character," Senate candidate David Hoffman said at a news conference. (NBC 5 Chicago, 1/29/10)