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It's the Chicago Way
Topic Started: Aug 2 2010, 02:11 PM (124 Views)
George K
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Finally
Former Illinois (please, don't pronounce the 's') State Treasurer and current Democratic nominee for Barack Obama's Roland Burris' seat, while at his family's bank loaned $23 million to....

...Tony Rezko.

Quote:
 
By February 2006, businessman and political fixer Tony Rezko was already politically radioactive, caught up in a federal investigation that would see him criminally charged by the end of that year.

News reports had linked Rezko, a key adviser and campaign fund-raiser for then-Gov. Rod Blagojevich, to shady deals involving state pension funds -- among the crimes that ultimately would send him to prison.

This was the Tony Rezko who, looking for millions of dollars for a massive South Loop development, turned to Broadway Bank, owned by the family of Alexi Giannoulias. Giannoulias, the Democrat now running for U.S. Senate, had left his post as a senior loan officer at the Chicago bank in late 2005 to mount a successful campaign for Illinois state treasurer, though he still held an ownership stake in the bank.

Rezko's company asked. And Broadway Bank came through.

On Feb. 14, 2006, newly obtained records show, the bank made a $22.75 million loan to a company called Riverside District Development LLC, whose owners, it turns out, included Rezko.

You won't find Rezko's name on any documents filed in the public record in connection with the loan.

But Rezko acknowledged his ownership stake in Riverside District Development to a federal judge about a year after the loan was made, according to a transcript of the court hearing.
...
Through a spokeswoman, Giannoulias says he knew nothing about the $22.75 million loan to Riverside District Development until reporters contacted him.

"Alexi left daily operations of the bank in September of 2005, months before this loan was made," says Kathleen Strand of his campaign staff. "He had no knowledge of it, and his name is not on any documents related to the loan.

"This guilt-by-association story is an unfortunate and failed attempt to link Alexi to Mr. Rezko.''
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- Mik, 6/14/08


Nothing is as effective as homeopathy.

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- Klaus, 4/29/18
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Mikhailoh
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If you want trouble, find yourself a redhead
Well, y'know.. you get enough of those guilt-by-association smoke signals and eventually you have to think there's a fire burning somewhere.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Luke's Dad
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Emperor Pengin
Well, Kirk currently holds a 1.7% lead according to the RCP averages.. Unfortunately, though, none of those polls takes into account Likely Deceased Voters, which traditionally have a quite lively turnout on election days in Chicago.
Edited by Luke's Dad, Aug 2 2010, 02:53 PM.
The problem with having an open mind is that people keep trying to put things in it.
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brenda
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..............
Quite a cozy bunch there in Chicago-land. Very cozy group. Might want to be careful who pats you on the back in that crowd.
“Weeds are flowers, too, once you get to know them.”
~A.A. Milne
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George K
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Finally
Lot of itchy backs in Illinois, let me tell you.
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
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