Friday, April 23, 2010

Developing Story: Bye, Bye Broadway Bank... (UPDATED x2)

To no one's surprise, the major Chicago media outlets are reporting that Alexi Giannoulias' family's Broadway Bank will be closed by the FDIC today. See the latest over at Cap Fax Blog where Rich Miller is updating with the latest news feeds.

We have been having an interesting debate over at Cap Fax Blog all afternoon about whether Alexi weathers this storm. Given that Alexi himself telegraphed this weeks ago, I think he's prepared to batten down the hatches and ride it out.

Mind you, he's not going to win this November. But I doubt his ego will let him quit, either.

UPDATED 4/24/10: Here's your news clip collection of stories regarding the Broadway Bank takeover, courtesy of

Chicago Tribune: Broadway Bank’s failure a twin blow for Giannoulias
Chicago Sun-Times: FDIC regulators shut down Giannoulias family bank
WSJ: Bank Tied to Candidate Is Shuttered
NYT: Illinois: Bank Owned by Candidate’s Family Is Shut
AP/Bellandi: Feds shut down bank owned by Giannoulias
Politico: Giannoulias bank seized

The Giannoulias folks are going batty over themselves on the Internet trying to stave off any rumors that Alexi will be forced to quit over this. I hope they are successful, as we all want a very, very damaged Alexi to survive into the November race so he can get his clock cleaned by Mark Kirk.

Go Alexi! Dig in, stay in!

UPDATED x2: Here's a story by Rick Pearson and John Chase at the Chicago Tribune focusing on the damage done to the Giannoulias campaign by the Broadway Bank takeover. It's a good summation for anyone new to this story:

Democratic U.S. Sen. Dick Durbin, Giannoulias' campaign chairman, expressed concerns over a lack of White House commitment to the candidate to Washington-based Politico after a recent meeting with President Barack Obama's chief of staff, Rahm Emanuel. Durbin quickly tempered his comments, and the White House offered a tepid statement that "the president intends to help Democratic candidates in Illinois up and down the ballot."

The lukewarm reaction from Washington is a blow to Giannoulias, a one-time basketball playing buddy of the president who was aided in his first bid for office with a commercial featuring a testimonial from Obama. The warning signs came last summer, when Giannoulias found the White House working to recruit other candidates despite his public intentions to run for the Senate.

The "lukewarm" reaction from the White House is an important point. All eyes will be on the WH over the next few weeks as we see whether Team Obama throws in with Alexi or keeps its distance.


Blue Wind said...

Giannoulias will still win. He is a much better candidate than Kirk. Simple as that.

Team America said...

Blue, your statement is weak.

It's what we lawyers would call "ipse dixit," which is Latin for (loosely) "because I said so." It's a logical fallacy we point out when an expert offering testimony has nothing to back up his or her statement except that it is so because they say its so.

Why is he a better candidate? Because he's taller than Kirk? Because he played B-ball with Obama? It can't be because he's a great banker, because now he says he wasn't responsible for any important decision ever made at Broadway Bank. So what do you have to back up your statement?

Here's some advice - never hire out as an expert witness with that kind of argument. You'll get your clock cleaned. Just like Alexi! will.

Anonymous said...

Be careful, TA, just remember that Blue, Crazy and the catwoman come from the party in IL where the dead rise again and again to VOTE in every election. Perhaps THIS time those who live south of I-80 will get out and vote as never before. While we all recognize that Mark Kirk will be one of the most impressive Senators to serve our nation, we have to be aware of the uphill struggle he still faces between now and 11/2. The Chicago 'machine' will be out in force, the SEIU folks will be dispatched to every inch of the State. Here's the opportunity of a lifetime for the PEOPLE in IL to get out and vote for a man who has truly earned the right to represent us with integrity, vision, intellect and courage. That guy is Mark Steven Kirk. Sorry, Blue, Crazy, catwoman and Carl Nyberg. Your guy is the wrong man, wrong time, wrong State.

Anonymous said...

Hey Blue Wind, since Alexi can't run on his bank record like he did in '06, how about his state treasurer record? He's been stellar in losing college funds for thousands of Illinois families and severely undervaluing the price of a Springfield hotel. What next to run on? His good looks?

Anonymous said...

Heard this morning on the radio that the annointed one, Mr. Obama, will be in IL THIS WEEK. The statement also included that while he'll be in IL, he will NOT be in Chicago and Alexi will NOT tbe joining the president downstate on his visit. Seems the friendship and the basketball playing days are long gone. As for Durbin, it's kind of fun listening to him squirm as he talks about his friend, Alexi. Let's hope and pray that he stays in the race.

Blue Wind said...

Trust me :) I am right on this. Let me give you a few reasons that prove beyond reasonable doubt that Alexi is better than Kirk:

1. Alexi has been a great state treasurer. Kirk has been a mediocre congressman.

2. Alexi was NOT a rubber stamp for the Bush administration. Someone else (need a hint?) was for many years, despite pretending to be "independent".

3. Alexi was against the disastrous Iraq war, while Kirk was an advocate and supported Bush in that war. That alone establishes that Kirk has poor judgment and he is not qualified to be senator.

4. Alexi supports the desperately needed health care reform that is a significant achievement of the Obama administration. Kirk is against it and wants to "repeal it" (depending which audience he addresses). Alexi is on the right side of history on this, Kirk is on the wrong one.

Let me know if that convinced you or you need more :)

Blue Wind

Anonymous said...

You poor, pathetic, misguided, out of touch Blue Wind. What planet are you circling? Let's go over your Democrat talking points:

1. Alexi has been a great State Treasurer. What in the world are you thinking. Does Bright Start and his mishandling of those funds resonate with you? This Blog space isn't long enough to list all of Kirk's Congressional accomplishments. What I think we'll have to do is provide you with ALL of his congressional successes in one long article.
For me as a parent of kids in a District 112 school in Highland Park I'm thankful he was able to get IMPACT AID funds for kids whose parents serve our nation. Oh yes, and have you driven thru Ft. Sheridan to see the homes that our service people now have that replaced the dilapidated shacks before Kirk became our Congressman. The VA Hospital stands out as an achievement, but I think we really need a full and complete list of all he does and keeps on doing.
2. Kirk's actual voting record will prove that he was never a rubber stamp for anyone. That's a fact, Blue. How else was he ranked 218 out of 435 in the House. That's on votes on issues, Blue, so get those facts right.
3. So Kirk has poor judgment because of the Iraq war? I won't even dignify that one with an answer. You should know better. The world is a better place without Sadaam Hussein, but perhaps you think otherwise.
4. You hit a nerve on this one, Blue. Obviously you and your buddies do not know that Mr. Kirk authored a healthcare plan that your side of the aisle wouldn't even read. Kirk SUPPORTS real healthcare reform, one that includes TORT REFORM, one that includes the sustainability of the doctor/patient relationship, one that our nation can afford, one that makes the Insurance industry accountable. You see, Blue, you are clueless and all you're doing is repeating the nonsense, the utter mistruths spouted by your buddies on that crazy blog of hers, now co-authored by yet another nutcase, Carl Nyberg. Get your facts right. Then again, you folks are not at all interested in real facts since your world is whatever YOU want it to be.
Oh yes, you might tell that lady in the rocking chair with the damn cat on her lap that she's totally wrong about the media being in the back pocket of the Kirk campaign.
She, you and all those who can't deal with reality are in for one rude shock on 11/2.

Anonymous said...

Blue Wind is so out of touch and living in 2008. The chatter from the left is mostly like this.

Anonymous said...

Blue Wind......please keep up your involvement with this blog and hopefully Alexi's campaign.

The more you speak, the more money we raise. The more you blog, the more focused we get.

Thanks complete me.


Anonymous said...

Geez, Blue Wind, keep on posting here because it's folks like you with your warped thinking that help the Kirk campaign. I'm laughing at your idiotic statement that Alexi has been a "great State Treasurer". What? If you think that losing MY money in the Bright Start account was making me one happy parent, you and Alexi are both nuts. I invested money to help with the college education of my kids. End result? Lost close to $700 thanks to the GREAT State Treasuere. Do you want to talk about his purchasing the SUV with Bright Start funds? Keep on saying how GREAT Alexi has been as a State Treasuere, Blue Wind,because you and Alexi are both in need of a reality check. I'm waiting for more of your proof of how good a guy he is in anything and everything he's done.

Blue Wind said...

"You poor, pathetic, misguided, out of touch Blue Wind".

Hey ANON.8:37PM,

Thank you as always for your kind words. Your post clearly shows how open minded, kind, and considerate you are. Thank you again.

By the way, I am not surprised that you think the Iraq war was a good idea. You are one of the few people of the planet who still think so. Congrats.

Anonymous said...

Just came home from the annual Greek American Parade down Halsted Street in Greek Town.

They announced Giannoulias as a parade dignitary to extremely tepid applause. For other recent annual parades the crowd would react to him like they saw a grand slam home run at Wrigley or the Cell. He spoke in Greek and English for about a minute to some additional tepid applause. Speech was the generic "I'm proud to be Greek" stuff.

Accidental Governor Quinn was also present who got a far better reaction when he spoke than the U.S. Senate Democratic Candidate.

Showing that Giannoulias can't buy a break anywhere, it was drizzling and cold and the crowd in attendance was way down from prior years (last year it snowed and there were more people in attendance).

As my group approached the reviewing stand there were a bunch of Giannoulias signs being held up near the reviewing stand ONLY by a bunch of non-Greek staffers/volunteers. Those attending the parade standing next to the sign holders moved away, leaving them standing alone with their signs on the east side of the street.

The Greek American businessmen had no Giannoulias signs up in their windows during the parade, another first from prior years.

Unlike other years, there was no Broadway Bank float, which considering the circumstances of the past few months, was understandable.

But I agree. Giannoulias will still win. All he needs to do is close his eyes, wish read had and click the heels of his glass slippers three times. If the best he can do in front of a super friendly audience is tepid applause, . . .

Louis G. Atsaves

Anonymous said...

You seem to enjoy misinterpreting what I posted, Blue Wind. Hillary Clinton voted FOR the Iraq War as did many in YOUR party based upon the information at that time. Again, you have an odd way of stating and remembering facts. I note that you can't rebutt your truly warped statements that Alexi is a GREAT State Treasurer. I hope you continue to post here since you make it much easier for us to see how truly fortunate we are to have Mark Kirk as the best candidate for the office of Senator from IL. By the way, I hope you, catwoman, Nyberg and your few other buddies enjoyed the great description about today's Greek Festival account from Lou Atsaves.

Blue Wind said...

Did you notice that the weather today was not that great? Like it was raining all over the Chicagoland area? Have you consider the possibility that the crowd did not attend the greek parade because the weather was not good and not because they did not care about giannoulias?

I dont expect much common sense from the far right. But some things are very obvious. Like the weather :) Just saying...

Anonymous said...

Still waiting for Blue Wind to back up his "great state treasurer" claim. Evidence please?

Also spoke with an insider on the Hoffman campaign yesterday evening and he, along with everyone who supported Hoffman will be voting for Mark Kirk this fall.

Anonymous said...

1. This bank was Alexi's only credential for running for office it has now gone down in flames and the chicago media has set their mind to destroy him. As I've said before ethnic last name+sketchy past+chicago+hair gel=blago 02 and Alexi and with all the problems Illinois faces right now the state can't afford to have a dipstick senator. The media has already figured out this guy is a corrupt incompetent airhead and they are going to destroy him for the next 6 months.

2. The bush administration surge saved iraq, and we are leaving this year. Alexi couldn't find baghdad on a map, end of story.

2a. I disagree with Mark he's dead wrong on afghanistan. stopping the drugs will only piss off the small farmers and karzai needs the drugs flowing as a payoff to keep the warlords from joining the taliban, but this is another story.

3.The question isn't weather Alexi is dead the question is whether he gets cremated by kirk or his own people. He can't survive this, and his campaign team is a bunch of hacks. The political talent in Illinois is currently in the white house and unavailable to run his campaign day to day. Kathleen Strand is a punk and an alumn of the hillary campaign which failed.
Obama raised 30 million easily in illinois last time and 800 million nationally. Alexi, with a greek national fundraising network and all the clout that comes with being obama's guy has struggled to raise more than mark did--when he was a republican congressman. democrat donors dont believe in him, his state party chairman is taking shots at him, his family is in ruins.

It be over, yo.


Anonymous said...

Blue Wind,

Far right? Or just right? :-)

Not only did I notice the weather but I reported it earlier including the deflated attendance. Glad to see that for once you connected a few dots! :-)

Funny. Last year it was 32 degrees, raining, sleeting and snowing with more people attending. Alexi got the rock star treatment from those in attendance. In 2008 he was also treated like a rock star on a beautiful sunny day.

This year he got tepid applause. If that is the best he can do with Greek Americans, then he has a MAJOR problem on his hand.

But you are right. Giannoulias will still win. Keep on clicking those heels of those glass slippers . . .

Louis G. Atsaves