The connection with Obama will be overblown by the neocon media complex, but it’s still interesting to point it out. Chicago Breaking Business reports:
Broadway Bank, the family-run lender that helped launch U.S. Senate candidate Alexi Giannoulias’ political career, was one of seven Chicago-area institutions seized by the U.S. government Friday and sold to healthier companies.
The failure of Broadway, which was unable to raise the $85 million it needed to remain independent, will cost the Federal Deposit Insurance Corp. $394.3 million.
Giannoulias worked for his father at Chicago-based Broadway before entering politics, and the bank’s struggles in recent years with real estate loans gone bad have weighed on Giannoulias’ Democratic bid for Barack Obama’s old Senate
No comments:
Post a Comment