Giannoulias Says No One Has Asked Him to Step Down
Democratic Senate candidate Alexi Giannoulias says no one from the Democratic Party has suggested he step aside following the failure last week of his family's bank.
Giannoulias said Monday at the Courier Cafe in Urbana the failure of Broadway Bank on Friday gives him a better understanding of the economic struggles of many Americans. Giannoulias says a lack of regulation in the commercial real estate market can partially be blamed on the poor economic policies of his opponent, Republican Congressman Mark Kirk. "I'm not saying that mistakes weren't made in the private sector, of course there were." said Giannoulias. "That being said, what's taken place with community banks, with the seven community banks that failed on Friday, the four more that got consent agreements with FDIC, when you have a real estate market that just plummets the way it did over the last two years, you're going to be dealing with huge challenges."
Giannoulias was in Urbana Monday. Giannoulias says he looks forward to debating his opponent, and offering voters a departure from policies that allowed the national debt to double in the last decade under President George W. Bush. The Treasurer also says he plans on being in Quincy on Wednesday, when President Obama gives a speech on Wall Street reform. And The White House on Friday ended speculation about whether Obama would campaign for Giannoulias, saying the president would help all Illinois Democrats. At the Urbana cafe, Giannoulias listened to University of Illinois students talk about their doubts they'll be able to find jobs when they graduate.