Chicago Sun-Times
The scoop from Washington

Giannoulias: did not know "extent" of Broadway Bank loans to crime figures; Kirk apologizes for embellishing military record

| 6 Comments

meet the press2.jpeg

meet the press3.jpeg

Kirk, Giannoulias on the "Meet the Press" set after the debate. (photos by Lynn Sweet)

Updated....

WASHINGTON--In their first debate, Illinois Senate rivals Democrat Alexi Giannoulias and Republican Mark Kirk drew stark contrasts Sunday on NBC's "Meet the Press" over taxes and job creation--and whose credibility is most flawed.

Giannoulias was defensive when he said--about his family owned Broadway Bank loans to crime figures--he did not know the "extent" of their activity. But Giannoulias also opened up a new front during the debate: accusing Kirk several times of telling "whoppers" about his claims to be a fiscal hawk.

Kirk and Giannoulias are deadlocked in one of the most hotly contested races in the nation, for the seat once held by President Obama.

Kirk was forced to revisit the lowest point of his campaign, which is still impacting the race: a series of embellishments about his career as a Navy Reserve officer. Kirk told host David Gregory that exposures of his embellishments was "a painful and humbling" lesson.

Highlights from the exchange:

*Giannoulias was pressed by Gregory over what he know about loans made to organized crime figures by the Giannoulias family owned Broadway Bank when he was a loan officer. Kirk has made those loans by the bank--which failed in April--a centerpiece of his campaign.

Asked if he knew that there were crime figures the bank was loaning money to, Giannoulias said "We did not know the extent of that activity," and when asked again, said "I did not know the extent of their activity."

After Giannoulias said Kirk does not have much private sector experience, Kirk replied,
"I don't have experience in loaning money to mob figures."

*Kirk--who had been against ending the Bush era tax cuts--said he would be open to a compromise two year extension. Kirk said the Obama stimulus has "largely failed" while Giannoulias said Obama's plan prevented a second Depression


Kirk said, "First of all, we recognize that the stimulus has largely failed. A very small part of it even went to infrastructure development projects. It didn't answer the question, "What happens when all the borrowed money runs out?" Secondly, this Congress has been very, very viciously anti-business. New taxes, new regulation. We need-- Senators and Congressmen that will pass a pro-growth agenda."

Giannoulias took a small hit at Obama's Recovery Act, the legislation with the economic stimulus money in his reply, when he acknowledged some--unspecified flaws in the measure.

"The bigger question is what would have happened?" Giannoulias asked. "It was not flawlessly done, but if you take a look at what would have happened, do we need to see soup lines down the street to figure out what would have happened. We avoided and all economists will tell you that millions of jobs were saved because of the Recovery Act and we avoid a second great depression, that is a reality."


*Giannoulias accused Kirk several times of telling "whoppers" about his fiscal hawk claims. Kirk came back with a jab--that Giannoulias could not think of any spending he would cut during a Chicago Tribune editorial board interview.

Giannoulias said, "This is-- why this race is so important. This is a fundamental public policy difference between myself and Congressman Kirk. He says he's-- a fiscal hawk. Look-- the Congressman has told some real whoppers during this campaign, but that may be the biggest one of all. He voted for every single one of the Bush budgets, which doubled our national debt. He voted to increase his own pay six times. He voted for the bridge to nowhere twice."

Kirk came back, "It's ironic for my opponent to credit my record on fiscal conservatism. In front of the Chicago Tribune they asked him, "Name one spending bill that you would actually vote to cut." He couldn't name one. And as the Chicago Tribune said when they endorsed me, it was painful to watch."

UPDATE
After the debate, Kirk and Giannoulias met with reporters--not together-- on the "Meet the Press" set.

On Broadway Bank, Kirk said the Giannoulias answer "lacks some credibility given how heavily these figures were covered in the Tribune and Sun-Times."

Regarding his comments on not knowing the "extent" of the background of the crime figures, Giannoulias said his remarks were "consistent with everything I've said over the past few years. ...the folks back in Illinois know that I have been very consistent."

Since the matter Sunday morning was not whether Giannoulias was consistent--I asked him to explain what he meant when he used the word "extent." Giannoulias said, "We knew there were rumblings of problems. These weren't loans that I was intimately involved in. These weren't relationships that I brought to the bank, nothing has changed."

6 Comments

Alexi is unfit, however he's learning to be a slippery politician. "The bigger question is what would have happened?" Well, we'll never know that. Clearly, the democrats would have us believe that they averted a catastrophe, but there is no evidence for that position, only conjecture that fits well with the democrats desire to generate a fear/crisis they could exploit. There is evidence that the stimulus and all the Obama programs contributed greatly to the uncertainty and the general wait and see attitude by businesses as evidenced by the accumulation of uninvested funds on their balance sheets.

Neither candidate strikes me as leadership material, but Alexi is so lacking in experience, even after being state treasurer, and his close ties to mob activity should be an automatic disqualification. "I didn't know the extent of those activities."? Does this mean he did know something of these criminal activities by his bank's customers, just not the full extent?

Have we lowered our standards so far as to accept this sort of nonsense from from a whelp? His money came from his family's activities and those activities cost the tax payers hundreds of millions of dollars.

Alexi is unfit for any office.

Both = worthless choice(s)

It was painful to watch Alexi hedge his answers by stating that he did not know the "extent" of his customers' involvement in organized crime or corruption as with the cases of Toney Rezko and "Jaws" Giorango.
Perhaps it is just me, but using the word "extent" implies that he knew "something" was wrong with these potential clients/borrowers, so then why would you loan them money? Does this mean that it is O.K. to have "some" involvement in Organized Crime, and the extent will determine the amount of the loan?
Alexi needs to law low, because when he speaks he raises more questions than answers.

Giannoulias said his remarks were "consistent with everything I've said over the past few years. ...the folks back in Illinois know that I have been very consistent." LIES LIES AND MORE LIES lol lol

The most promising deficit-cut of government : Slashing the destructive war & military waste
 
1. Slashing the destructive war & military waste alone supposedly could be enough to balance the budget.
 
 
Energy Independence : An Only Way to Desperately-Needed Job Growth
 
1. My response to the question : where are jobs ?
In the trade deficit, exactly in the severe and persistent oil money spill, taboo of " do not add to the deficit" party.
 
2. Under the existing lavish Bush tax cut for bonus parties, a sole job plan for the republicans, the country already saw millions of job cuts.

Why can we not find 'clean' people to hold public office? Are there no normal, honest, ethical people willing to serve? Or is it that those with money seek out those with weaknesses so that after elected they are more easily manipulated?

Leave a comment

Get the Sweet widget

More widgets

Video

Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

Stay in touch

About this Entry

This page contains a single entry by Lynn Sweet published on October 10, 2010 9:48 AM.

Kirk, Giannoulias at NBC studios; first debate on "Meet the Press" minutes away was the previous entry in this blog.

Giannoulias camp post "Meet the Press" debate react, statements, fact checks is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.