Despite bank's closure, Giannoulias vows to fight - KMOV.com

Despite bank's closure, Giannoulias vows to fight

CHICAGO (AP) -- Following the collapse of his family's bank, Illinois Treasurer Alexi Giannoulias (jeh-NOO'-lee-ehs) says he has renewed vigor to win President Barack Obama's old Senate seat.

The Democrat's voice cracked with emotion as he talked Friday about the collapse of Broadway Bank, which was heavy into real estate loans and lost $75 million last year. Giannoulias says nobody could have foreseen the real estate collapse.

He says he will work harder in his bid to keep the Senate seat with Democrats because he understands how Illinois families and businesses are suffering.

Giannoulias says the bank founded by his father helped many businesses that had been turned away from larger banks. He called its closing "incredibly sad" and says voters aren't focused on the bank's problems.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Powered by Frankly