Friday, April 23, 2010

Giannoulias' Broadway Bank to fail this afternoon?

The ninety day deadline for Broadway Bank to recapitalize expires Monday.

Do you know anyone who has a spare $85 million?

The bank is owned by the family of Alexi Giannoulias, the Illinois Democratic nominee for the US Senate. Although he loaned money to felons, Giannoulias touted his experience as a loan officer there in his successful election to state treasurer in 2006. But the "Boy Banker" mismanaged a college savings program, costing Illinois parents $70 million.

Friday afternoons are typically when federal grim reapers close failing banks.

UPDATE 10:00am: Tom Mannis of Chicago News Bench informs me that WLS-AM's Cisco Cotto is broadcasting outside the West Side of Chicago branch of Broadway.

Related posts:

Obama's "sweetheart" mortgage: Was the competing lender Broadway Bank?
Giannoulias: A bad banker for the Senate
Giannoulias family's Broadway Bank loaned $20 million to felons while Alexi was senior loan officer
Giannoulias' Iranian ties
Another "Blackie" eye for Giannoulias
Giannoulias family could walk away with $15 million if bank fails
Giannoulias' toothless answer on "Jaws"
Senate candidate Giannoulias: Broadway Bank will "quite likely" close
Feds get tough with Giannoulias' Broadway Bank
Thanksgiving news dump: Giannoulias releases tax returns
Hypocrisy: Giannoulias wants banking crackdown--but what about Broadway Bank?
Ill. GOP: Four key questions for Alexi Giannoulias
Republican comptroller candidate confronts Giannoulias on SEIU endorsement
More Blago baggage for Giannoulias: Schakowsky and Creamer
Ill GOP has tough questions for Alexi Giannoulias regarding small businesses
See and hear: Giannoulias caught fibbing on PAC money
Hannity's report on Alexi Giannoulias
Banking headaches for Alexi Giannoulias and kin
Alexi Giannoulias: Not so transparent
Just as with mob loans, Giannoulias quiet about SUV purchased from money losing state investment fund
Obama's Chicago skeletons: Rezko and Broadway Bank
Obama, Alexi, and Broadway Bank
Coincidences and the Las Vegas Rezko arrest warrant
Obama's state treasurer pal needs a memory upgrade

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