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Candidate for Obama’s Seat in Financial Trouble

Posted on March 10 2010 11:30 am
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With the public still furious over bank bailouts, Democrats desperate to keep President Barack Obama’s old Senate seat are scrambling to counter revelations that a bank owned by their candidate’s family may be nearing collapse.

Alexi Giannoulias, the first-term Illinois state treasurer and an old basketball buddy of Obama’s, has tried to answer away questions about the bank’s troubles, saying he hasn’t worked there in four years and that it was victim of the same real estate slump that hurt the rest of the economy.

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