About Giannoulias

Raised in the tradition of the Chicago political machine, Alexi Giannoulias’ ethical lapses and failed record of achievement have not qualified Illinois’ first term Treasurer to serve in the United States Senate. But the 33-year-old Giannoulias already wants a job promotion, despite a record that leaves much to be desired.

Prior to becoming Treasurer, Alexi Giannoulias was the senior loan officer at Broadway Bank, a community bank owned and operated by the Giannoulias family. Giannoulias made multiple loans to organized crime figures during his tenure, and the bank engaged in real estate deals with convicted felon and slum lord Tony Rezko. The Giannoulias family also has ties to disgraced former Governor Rod Blagojevich. Blagojevich appointed Alexi’s brother to a state board and Alexi’s father was a big campaign contributor to the Governor.

Giannoulias’ record as the State Treasurer has not been much brighter. He hired a Wall Street bank to manage the state college investment fund, Bright Start, which proceeded to make bad bets and lose money for thousands of Illinois families. After the losses were discovered, the State of Illinois had to settle for the bank to only repay half of the total losses. But despite the economic predicament facing the state’s beleaguered college investment fund, Giannoulias purchased an SUV using Bright Start funds.

Alexi Giannoulias, with his limited, yet scandal-tinged background, is just one more player in the culture of corruption that has plagued Illinois politics for far too long. As another cog in the Chicago political machine, Giannoulias will have a difficult time earning the vote, and trust, of the people of the Land of Lincoln.