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Giannoulias Launched Campaign from Broadway Bank

The bank, before being seized by the feds in April, made loans to mobsters and criminals.

10:00 AM, Sep 10, 2010 • By DANIEL HALPER
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As the Giannoulias family’s Broadway Bank was seized by federal regulators, and as Broadway Bank’s associations with mobsters and criminals was placed under further scrutiny, Illinois Senate candidate Alexi Giannoulias had a tiring refrain: I haven’t been at the bank in over four years. 

Giannoulias Launched Campaign from Broadway Bank

Leaving aside a New York Times report that Giannoulias himself was responsible for the risky loans that brought down the bank and cost the FDIC $394 million, Giannoulias supporters hit the same refrain as the candidate: he hasn’t been at the bank in over four years. 

Particularly Senator Dick Durbin: “Durbin says Giannoulias has not been involved with the family bank in four years,” according to WBEZ’s City Room. “For four years, Alexi had no contact with this bank,” Durbin recently told Fox Chicago.

It’s one thing for Giannoulias to embellish his own record, but quite another for Durbin. Is it possible that Durbin just doesn’t know what’s going on?

When Giannoulias launched his Senate campaign, a Democratic Party website listed Alexi for Illinois’s address as 900 W. Van Buren in Chicago:

The domain name is also registered by Citizens for Giannoulias at 900 W. Van Buren in Chicago:

So what exactly is at 900 W. Van Buren?  Take a look on Google Maps:


That’s right.  Alexi Giannoulias launched his campaign for Senate out of a Broadway Bank building.

According to filings with the Federal Election Commission, Alexi for Illinois was paying rent to United Investors at 5948 N. Broadway St, the same address as Broadway Bank’s former headquarters. According to the Illinois Campaign for Political Reform, Alexi Giannoulias’s brother George runs United Investors, “which manages the family’s real estate investments.”

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