White House leaves Dick Durbin hanging

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White House leaves Dick Durbin hanging


By GLENN THRUSH & MANU RAJU | 4/23/10 4:43 AM EDT




Sen. Dick Durbin slipped into the West Wing last week to ask Rahm Emanuel for White House help in saving Barack Obama’s old Senate seat.

But he didn’t leave with any ironclad commitments.

Durbin told Emanuel that Democratic nominee Alexi Giannoulias could use some serious presidential intervention in his uphill race against Republican Rep. Mark Kirk.

At the moment, the White House seems open to the idea of losing Obama’s old seat rather than putting the president’s prestige on the line for Giannoulias, the brash and boyish Illinois state treasurer — and onetime Obama basketball buddy — whose campaign has been rocked by the financial meltdown of his family’s bank.

Durbin said Emanuel was sympathetic to his pleas but ultimately noncommittal, telling him that the White House was “considering the race, weighing their options and weighing a decision on what to do.”
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The White House declined to comment on Durbin’s conversation with Emanuel. But an administration official, speaking on condition of anonymity, acknowledged that the White House harbors deep concerns that Giannoulias’s campaign will implode if the family business, the financially strapped Broadway Bank, collapses as many analysts anticipate.
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Read more: http://www.politico.com/news/stories/0410/36243.html#ixzz0lyMZRhRZ



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Forum Name Latest Breaking News
Topic subject Feds Take Over Giannoulias Family's Broadway Bank
Topic URL http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4355156#4355156
4355156, Feds Take Over Giannoulias Family's Broadway Bank
Posted by cal04 on Fri Apr-23-10 11:23 PM

Source: WBBM/CBS

It was the end of the road Friday for a Chicago bank with political ties.

State regulators along with representatives of the Federal Deposit Insurance Corp. arrived to shut down Broadway Bank at about 5 p.m. It's the family bank of U.S. Senate candidate Alexi Giannoulias.

Customers earlier been told the FDIC would take control and re-open Saturday under a new name. It was not immediately clear if another bank is in line to take control of the bank right away.

CBS 2's Suzanne Le Mignot reports.

Read more: http://www.wbbm780.com/Feds-Take-Over-Giannoulias-Family-s-Broadway-Bank/6880444


"I hope that all of you who follow this closely will report that (Alexi Giannoulias) has had nothing to do with this bank for four straight years," U.S. Sen. Dick Durbin, a fellow Democrat and ally, told reporters. "I hope that you will report that 90 percent of the loans at the bank today he had absolutely nothing to do with."
http://cbs2chicago.com/local/broadway.bank.failure.2.1652169.html


Broadway Bank, 3 Other Illinois Banks, Shut Down By FDIC
http://www.huffingtonpost.com/2010/04/23/broadway-bank-3-other-ill_n_550321.html