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How does President Barack Obama spell financial reform? I’ll give you one guess. It starts with “A” and ends with “S’” Apparently Obama pal and band bank loan poster child, Alexi Giannoulias, who is running for his friend’s old U.S. Senate seat, is planning to attend today’s lecture on big government reform (read takeover) of Wall Street. But Mr. President, isn’t Alexi Giannoulias’ presence sending the wrong message to Main Street?
That’s what tea party activists in Quincy, Illinois are asking. With organizer Steve McQueen, the group plans a counter demonstration at the “White House Tour to Main Street” today at 3:30 p.m. at the Oakley Lindsey Center.
On Friday, regulators shut down Alexi’s family-owned Broadway Bank when it couldn’t raise the $85 million to cover its financial shortfall from toxic loans. News reports confirmed that the bank had loaned $20 million to two convicted felons while Giannoulias worked there. The convictions ranged from running a multistate bookmaking ring and promoting a nationwide prostitution ring.
Giannoulias apparently carried these critical management skills with him to the Illinois Treasurer’s Office where he proceeded to lose $150 million in Illinois Bright Start funds for college savings through risky fund investments at Oppenheimer Funds, which he knew was already having problems in April of 2008.
It does send the wrong message, Mr. President. Or maybe you just need to learn how to spell.
Good luck today, Tea Partiers!
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