Friday, May 30, 2008

Marathon Pundit on Rezko, Obama, and Alexi Giannoulias

I liberally clipped from a Marathon Pundit post.
Here's a juicy golden nugget:

An interesting footnote, the allegedly rubber Rezko checks were drawn on Chicago's Broadway Bank. At the time those checks bounced, the vice president of the bank, Alexei Giannoulias was running his ultimately successful campaign for Illinois state treasurer.

Time for some dot-connecting, albeit of the cronyism kind. Giannoulias ran against a candidate slated by the state party in the 2006 Democratic Primary treasurer's race. Barack Obama, who once said "I don't want to be the kingmaker," went against his party and endorsed the then 29 year-old political novice for state treasurer. Rock-star Obama appeared in a Giannoulias television commercial, which was enough to give the banker a resounding primary victory. He defeated his Republican opponent in the general election, even though the state Democratic Party refused to endorse him.

While an officer his family-owned Broadway Bank, Giannoulias approved two multi-million dollar loans to convicted mobster Michael "Jaws" Giorango. Convicted of what? Bookmaking and running a prostitution ring.

Giannoulias has not been accused of wrongdoing in regards to his business dealings with "Jaws." And he can hardly be blamed for Rezko's bounced checks--other customers of the bank have written NSF checks to be sure--but it's interesting of all the banks in Chicago, Rezko chose Broadway Bank. And Obama chose to cross powerful Michael Madigan, Speaker of the Illinois House and Chairman of the Illinois Democratic Party, by endorsing Giannoulias over the slated candidate.Coincidences?

Well, as I've remarked before, Chicago is the land of coincidences.

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