Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

To: STARWISE

Feds Enter Giannoulias’ Family Bank (Obama buddy - it’s closed)
My Fox chicago ^ | 4-23-10

Posted on Friday, April 23, 2010 6:09:03 PM by STARWISE

Regulators prepare to seize Broadway Bank

Updated: Friday, 23 Apr 2010, 5:53 PM CDT

Federal regulators prepared to seize control of the bank run by the family of U.S. Senate Candidate Alexi Giannoulias late Friday after the bank could not raise enough money to remain afloat.

(Excerpt) Read more at myfoxchicago.com ...


630 posted on 04/23/2010 6:09:24 PM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
[ Post Reply | Private Reply | To 629 | View Replies ]


To: hoosiermama

FROM:
http://www.freerepublic.com/focus/f-news/2499580/posts

http://www.chicagotribune.com/business/ct-biz-0424-broadway-bank—20100423,0,1669391.story

Broadway Bank’s Failure A Twin Blow For Giannoulias
Chicago Tribune ^ | April 24, 2010 | Becky Yerak

Posted on Saturday, April 24, 2010 7:57:44 AM by raptor22

Broadway Bank, the family-owned lender that helped launch U.S. Senate candidate Alexi Giannoulias’ political career, was seized by government regulators Friday night, one of seven Illinois institutions taken over and sold to healthier companies.

The failure of Chicago-based Broadway, which was unable to raise the $85 million it needed to remain independent, was anticipated, and its worsening health has weighed on Giannoulias’ Democratic bid for President Barack Obama’s old Senate seat. The bank had been struggling in recent years with real estate loans gone bad, losing $75 million last year.

Giannoulias worked for his father at Broadway before entering politics, and during his successful run for state treasurer in 2006 he used his banking experience as one of his chief qualifications. But in the Senate race, he has tried to distance himself from the bank’s troubles.

(Excerpt) Read more at chicagotribune.com ...


631 posted on 04/24/2010 9:43:17 AM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
[ Post Reply | Private Reply | To 630 | View Replies ]

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson