Commentary Magazine


Topic: treasurer

Does Schumer Care About CAIR?

Chuck Schumer, the wanna-be majority (minority?) leader for the next Senate, is doing a fundraiser for the hapless Joe Sestak in Philadelphia tonight. The Toomey camp has jumped on this, challenging Sestak to answer questions about his association with CAIR. In a statement, Toomey’s campaign reminds us that in 2003, Schumer declared in a Senate Judiciary Committee hearing: “We know [CAIR] has ties to terrorism.” So the Toomey camp wants to know if Sestak now agrees with Schumer, and if he thinks it’s appropriate to keynote for CAIR and praise “its good work.” The campaign also tucks in this bombshell: “Will Congressman Sestak return the $2,000 he has received from officers of CAIR?”

Wait. Sestak keynoted for them, praised them, and then got money from them — a group that refuses to condemn Hamas and Hezbollah as terrorist groups and that has had multiple officials indicted for and convicted of terrorist activities? In fact, Sestak received donations from the then-president, treasurer, and chairman of the Pennsylvania chapter of CAIR. He is plainly the group’s choice candidate. (These donations were made between 2006 and 2009.)

So let’s get this straight: Sestak took money from Soros Street (which wrote Richard Goldstone’s defense case and escorted him around Capitol Hill) and from CAIR, which the Democrats’ leader-in-waiting has deemed to have terrorist ties. Sestak may already be a dead duck. But what is Chuck Schumer, the great friend of Israel, doing with this guy? Schumer has had it both ways of late. He’s made heartfelt speeches to AIPAC and grumbled about Obama in the Jewish media, but when it comes to the national Democratic stage, he seems to jettison all those concerns. At some point, Schumer’s pro-Israel supporters may want a more consistent advocate for their cause.

And in the meantime, Sestak should disgorge this money.

Chuck Schumer, the wanna-be majority (minority?) leader for the next Senate, is doing a fundraiser for the hapless Joe Sestak in Philadelphia tonight. The Toomey camp has jumped on this, challenging Sestak to answer questions about his association with CAIR. In a statement, Toomey’s campaign reminds us that in 2003, Schumer declared in a Senate Judiciary Committee hearing: “We know [CAIR] has ties to terrorism.” So the Toomey camp wants to know if Sestak now agrees with Schumer, and if he thinks it’s appropriate to keynote for CAIR and praise “its good work.” The campaign also tucks in this bombshell: “Will Congressman Sestak return the $2,000 he has received from officers of CAIR?”

Wait. Sestak keynoted for them, praised them, and then got money from them — a group that refuses to condemn Hamas and Hezbollah as terrorist groups and that has had multiple officials indicted for and convicted of terrorist activities? In fact, Sestak received donations from the then-president, treasurer, and chairman of the Pennsylvania chapter of CAIR. He is plainly the group’s choice candidate. (These donations were made between 2006 and 2009.)

So let’s get this straight: Sestak took money from Soros Street (which wrote Richard Goldstone’s defense case and escorted him around Capitol Hill) and from CAIR, which the Democrats’ leader-in-waiting has deemed to have terrorist ties. Sestak may already be a dead duck. But what is Chuck Schumer, the great friend of Israel, doing with this guy? Schumer has had it both ways of late. He’s made heartfelt speeches to AIPAC and grumbled about Obama in the Jewish media, but when it comes to the national Democratic stage, he seems to jettison all those concerns. At some point, Schumer’s pro-Israel supporters may want a more consistent advocate for their cause.

And in the meantime, Sestak should disgorge this money.

Read Less

Pipe Down — No, No, Only You Guys

The prospect of a Democratic wipe-out and the engagement, politically and financially, of aggrieved conservatives have freaked out liberals. So they resort to this sort of stunt:

Several prominent Democratic politicians plan to announce a new coalition Monday aimed at pressuring major companies to foreswear using corporate money on political campaigns.

The Coalition for Accountability in Political Spending, spearheaded by New York City Public Advocate Bill de Blasio (D), aims to secure promises from major corporations to fully disclose any political spending and, ideally, to avoid spending corporate money directly on elections.

Who is paying for the Coalition for Accountability in Political Spending (CAPS)? Hmm. Maybe we should demand that the group disclose its donor lists as a sign of good faith. We have a partial list:

Other Democrats joining de Blasio in the coalition are Illinois Gov. Pat Quinn, Pennsylvania Treasurer Rob McCord, Los Angeles Controller Wendy Greuel and New York State Comptroller Thomas DiNapoli. MoveOn.org and other grass-roots political groups are also participating, officials said.

But who is putting up the money? I mean, is this just another George Soros front group?

Moreover, the hypocrisy is staggering. They want only certain kinds of speech — and for certain speakers to go quiet:

The new coalition springs out of a successful effort by de Blasio, who serves as a trustee for New York City’s largest pension fund, to convince Goldman Sachs, J.P. Morgan Chase and Morgan Stanley to adopt policies against spending money from their general treasuries in elections. The firms will still run their own political-action committees, which are operated independently, officials said.

What about labor unions? Soros? What about political interests and advocacy groups that are incorporated and, therefore, fall under the ambit of the bogeyman Citizens United?

The message of the anti-free-speech crowd is remarkably constant: they simply want their political opponents to be silenced. But, in a way, this latest gambit undermines their advocacy in Congress and in the courts, where they seek to use the power of the state to limit political speech. Why should government be enlisted to shut down political speech? It seems as though the First Amendment rights of association and free speech can be employed by groups such as CAPS in the court of public opinion, however hypocritically. That does sort of prove the point of the defenders of Citizens United, doesn’t it?

The prospect of a Democratic wipe-out and the engagement, politically and financially, of aggrieved conservatives have freaked out liberals. So they resort to this sort of stunt:

Several prominent Democratic politicians plan to announce a new coalition Monday aimed at pressuring major companies to foreswear using corporate money on political campaigns.

The Coalition for Accountability in Political Spending, spearheaded by New York City Public Advocate Bill de Blasio (D), aims to secure promises from major corporations to fully disclose any political spending and, ideally, to avoid spending corporate money directly on elections.

Who is paying for the Coalition for Accountability in Political Spending (CAPS)? Hmm. Maybe we should demand that the group disclose its donor lists as a sign of good faith. We have a partial list:

Other Democrats joining de Blasio in the coalition are Illinois Gov. Pat Quinn, Pennsylvania Treasurer Rob McCord, Los Angeles Controller Wendy Greuel and New York State Comptroller Thomas DiNapoli. MoveOn.org and other grass-roots political groups are also participating, officials said.

But who is putting up the money? I mean, is this just another George Soros front group?

Moreover, the hypocrisy is staggering. They want only certain kinds of speech — and for certain speakers to go quiet:

The new coalition springs out of a successful effort by de Blasio, who serves as a trustee for New York City’s largest pension fund, to convince Goldman Sachs, J.P. Morgan Chase and Morgan Stanley to adopt policies against spending money from their general treasuries in elections. The firms will still run their own political-action committees, which are operated independently, officials said.

What about labor unions? Soros? What about political interests and advocacy groups that are incorporated and, therefore, fall under the ambit of the bogeyman Citizens United?

The message of the anti-free-speech crowd is remarkably constant: they simply want their political opponents to be silenced. But, in a way, this latest gambit undermines their advocacy in Congress and in the courts, where they seek to use the power of the state to limit political speech. Why should government be enlisted to shut down political speech? It seems as though the First Amendment rights of association and free speech can be employed by groups such as CAPS in the court of public opinion, however hypocritically. That does sort of prove the point of the defenders of Citizens United, doesn’t it?

Read Less

Hagel, Sestak, and Pro-Israel Groups

When Chuck Hagel threw his support to Democratic Senate candidate Joe Sestak and seemed to have made it into the short list for a replacement for Secretary of Defense Robert Gates, alarm bells went off with pro-Israel groups. The Washington Jewish Week reports just how serious is the opposition and aversion to Hagel:

“I would regard him as the bottom of the class as far as Israel goes,” said Morris Amitay, a former executive director of the American Israel Public Affairs Committee and treasurer of the Washington PAC, a pro-Israel political action committee.

In light of its past criticism of Hagel’s anti-Israel record, even the National Democratic Jewish Council had harsh words:

“Clearly, Hagel has a mixed record on Israel, but that record frankly puts him at variance with the president’s own policies vis-a-vis Israel,” said David Harris, president and CEO of the National Jewish Democratic Council, adding that, for now, “speculation is just that.”

Well then, what does all of this say about the candidate who calls Hagel his favorite Senator and who warmly received the endorsement? If Hagel’s record is “mixed” (it used to be much worse, from the NJDC’s perspective), then isn’t there just a wee bit of concern that Sestak’s views are also at “variance” with support for Israel?

Likewise, we have this from a Democratic operative: “If he was in fact appointed [Defense Secretary], I would find his appointment difficult to reconcile with my views of the administration.” So, isn’t it also hard to reconcile with Sestak’s views?

When Chuck Hagel threw his support to Democratic Senate candidate Joe Sestak and seemed to have made it into the short list for a replacement for Secretary of Defense Robert Gates, alarm bells went off with pro-Israel groups. The Washington Jewish Week reports just how serious is the opposition and aversion to Hagel:

“I would regard him as the bottom of the class as far as Israel goes,” said Morris Amitay, a former executive director of the American Israel Public Affairs Committee and treasurer of the Washington PAC, a pro-Israel political action committee.

In light of its past criticism of Hagel’s anti-Israel record, even the National Democratic Jewish Council had harsh words:

“Clearly, Hagel has a mixed record on Israel, but that record frankly puts him at variance with the president’s own policies vis-a-vis Israel,” said David Harris, president and CEO of the National Jewish Democratic Council, adding that, for now, “speculation is just that.”

Well then, what does all of this say about the candidate who calls Hagel his favorite Senator and who warmly received the endorsement? If Hagel’s record is “mixed” (it used to be much worse, from the NJDC’s perspective), then isn’t there just a wee bit of concern that Sestak’s views are also at “variance” with support for Israel?

Likewise, we have this from a Democratic operative: “If he was in fact appointed [Defense Secretary], I would find his appointment difficult to reconcile with my views of the administration.” So, isn’t it also hard to reconcile with Sestak’s views?

Read Less

How an Election Is Nationalized

Two races in Illinois and Pennsylvania exemplify the difficulties  Democrats are having these days. Regarding the Illinois Senate race, the Chicago Sun Times reports:

U.S. Rep. Mark Kirk said the arrest this week of a Giannoulias family friend and bank customer brings the amount of money Broadway Bank has lent to criminals to $52 million.

State Treasurer Alexi Giannoulias, Kirk’s Democratic opponent for U.S. Senate, has said that as chief loan officer of his family’s bank from 2002 to 2006, he did not check loan applicants’ arrest records.

Kirk, a North Shore Republican, calls that “reckless.”

And in a Friday news dump, Giannoulias announced he was giving back all the campaign funds he received from “bank fraudster Nick Giannis and his family.” So to sum up: to fill the seat of  Roland Burris, the Blago appointee (whose seat and the potential purchase thereof is the subject of the criminal trial later this year), the Democrats have nominated a banker who lent millions to mobsters, whose bank is on the verge of going under, and who pleads ignorance about his clients’ criminality. This is in a year in which backdoor deals, a series of ethics issues (e.g. Charlie Rangel, Eric Massa), and a general anti-insider sentiment has ensnared the Democrats. It’s hard to imagine a less appealing candidate for the Democrats. And frankly, if they aren’t lucky, Giannoulias and the other ethically challenged Democrats are going to become the poster boys — and the unifying message — for many Republicans outside Illinois.

Then there is Pennsylvania. Before we get to the Senate and gubernatorial races, both of which look promising for Republicans, there is a House special election. As Politico reports:

The special election to fill the House seat of the late Pennsylvania Democrat John Murtha will pit a candidate who fully embraces Murtha’s legacy against a Republican political newcomer who’s aiming to nationalize the election. Pennsylvania Republicans anointed businessman Tim Burns on Thursday as their candidate to face Murtha’s former district director, Mark Critz, in the May 18 election. Burns has been running on a down-the-line conservative platform of opposition to the stimulus, health care legislation and government spending.

And if the Obama-Reid-Pelosi troika push through ObamaCare, this may be an early warning sign (well, another warning sign after Scott Brown) as to  just how angry the electorate is and how willing the voters are to flip a seat that, in a normal election year, would be relatively safe for Democrats.

This is the stuff of wave elections — the collision of ethics scandals, voter anger, fiscal mismanagement, and, don’t forget, a floundering president. How big the wave will be depends, I think, on just how serious the Democrats are about dealing with their ethically challenged members and how determined they are to take the plunge on a monstrous health-care bill that voters generally loathe.

Two races in Illinois and Pennsylvania exemplify the difficulties  Democrats are having these days. Regarding the Illinois Senate race, the Chicago Sun Times reports:

U.S. Rep. Mark Kirk said the arrest this week of a Giannoulias family friend and bank customer brings the amount of money Broadway Bank has lent to criminals to $52 million.

State Treasurer Alexi Giannoulias, Kirk’s Democratic opponent for U.S. Senate, has said that as chief loan officer of his family’s bank from 2002 to 2006, he did not check loan applicants’ arrest records.

Kirk, a North Shore Republican, calls that “reckless.”

And in a Friday news dump, Giannoulias announced he was giving back all the campaign funds he received from “bank fraudster Nick Giannis and his family.” So to sum up: to fill the seat of  Roland Burris, the Blago appointee (whose seat and the potential purchase thereof is the subject of the criminal trial later this year), the Democrats have nominated a banker who lent millions to mobsters, whose bank is on the verge of going under, and who pleads ignorance about his clients’ criminality. This is in a year in which backdoor deals, a series of ethics issues (e.g. Charlie Rangel, Eric Massa), and a general anti-insider sentiment has ensnared the Democrats. It’s hard to imagine a less appealing candidate for the Democrats. And frankly, if they aren’t lucky, Giannoulias and the other ethically challenged Democrats are going to become the poster boys — and the unifying message — for many Republicans outside Illinois.

Then there is Pennsylvania. Before we get to the Senate and gubernatorial races, both of which look promising for Republicans, there is a House special election. As Politico reports:

The special election to fill the House seat of the late Pennsylvania Democrat John Murtha will pit a candidate who fully embraces Murtha’s legacy against a Republican political newcomer who’s aiming to nationalize the election. Pennsylvania Republicans anointed businessman Tim Burns on Thursday as their candidate to face Murtha’s former district director, Mark Critz, in the May 18 election. Burns has been running on a down-the-line conservative platform of opposition to the stimulus, health care legislation and government spending.

And if the Obama-Reid-Pelosi troika push through ObamaCare, this may be an early warning sign (well, another warning sign after Scott Brown) as to  just how angry the electorate is and how willing the voters are to flip a seat that, in a normal election year, would be relatively safe for Democrats.

This is the stuff of wave elections — the collision of ethics scandals, voter anger, fiscal mismanagement, and, don’t forget, a floundering president. How big the wave will be depends, I think, on just how serious the Democrats are about dealing with their ethically challenged members and how determined they are to take the plunge on a monstrous health-care bill that voters generally loathe.

Read Less

Flotsam and Jetsam

A rapper and his entourage in the Situation Room? “Were Jay & Bey & Co. issued the relevant security clearances? Do we even care anymore?” Well, in any case, “Is an amazingly successful businessman-slash-rapper who rose from the mean streets of Brooklyn to world-wide fame and fortune less qualified to deal with the vicissitudes, the obstacles, the demands, the crises of foreign policy and national security than Mr. Obama’s little coterie of Chicago-pol friends who’ve been running it so surpassingly excellently thus far?”

Another retirement, another Democratic seat becomes a toss-up. According to the Cook Political Report: “[Rep. Bill] Delahunt’s decision to leave doesn’t make this district a lost cause for Democrats by any means, but credible Republicans including former state Treasurer Joe Malone and state Rep. Jeffrey Perry are likely to run, and no Democrat appears capable of clearing a primary field. In a normal year, Democrats would enjoy a considerable advantage in an open seat race in MA-10. But this year, Democrats’ initial advantage isn’t great enough to warrant rating this race more favorably than a Toss Up.”

This might explain why all those voters are so angry: “President Obama’s policies would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday, including more than $2 trillion that Obama proposes to devote to extending a variety of tax cuts enacted during the Bush administration. The 10-year outlook by the nonpartisan Congressional Budget Office is somewhat gloomier than White House projections, which found that Obama’s policies would add $8.5 trillion to the debt by 2020. While the two agencies are in relative agreement about the short-term budget picture, with both predicting a deficit of about $1.5 trillion this year and $1.3 trillion in 2011, the CBO is less optimistic about future years, predicting that deficits will grow rapidly after 2015.”

And why they don’t like ObamaCare, as James Capretta explains: “The president started off last year by saying he wanted to ‘bend the cost-curve’ even as he broadened coverage. But after a year of partisan political and legislative maneuvering, all that’s left is a massive entitlement expansion. The new costs would get piled on top of the unreformed and unaffordable entitlements already on the books. It’s a budgetary disaster in the making.”

How many times has “shpilkes” been used in a mainstream-media headline? (How many ABC.com readers even know what it means?)

Even before Harry Reid’s latest boneheaded remark: “Two of Senate Majority Leader Harry Reid’s Republican challengers have again crossed the 50% threshold and now hold double-digit leads in Nevada’s U.S. Senate race. One big hurdle for the incumbent is that most Nevada voters are strongly opposed to the health care legislation championed by Reid and President Barack Obama. The latest Rasmussen Reports telephone survey of likely voters in the state finds Sue Lowden, ex-chairman of the Nevada Republican Party, with a 51% to 38% lead on Reid. Seven percent (7%) prefer some other candidate, but just three percent (3%) are undecided.”

From the “2006 All Over Again” file: “Eager to avoid a repeat of the Mark Foley scandal, House Democratic leaders moved quickly last month when a staffer for Rep. Eric Massa complained that he’d made advances to a junior male aide. But rumors about Massa had been circulating for months in both Democratic and Republican circles on Capitol Hill, and GOP operatives even considered digging into them on their own. However, sources say there wasn’t evidence of any wrongdoing until Massa’s then-legislative director contacted the office of House Majority Leader Steny Hoyer (D-Md.) in early February. … But a Massa aide told POLITICO that Massa — who is married and has children — has been engaged in inappropriate behavior ‘for eight months.'”

And Massa will resign Monday.

John McCain is trying to get the Gang of 14 back to beat reconciliation. No takers. And reconciliation is sort of irrelevant. But other than that, a great idea.

A rapper and his entourage in the Situation Room? “Were Jay & Bey & Co. issued the relevant security clearances? Do we even care anymore?” Well, in any case, “Is an amazingly successful businessman-slash-rapper who rose from the mean streets of Brooklyn to world-wide fame and fortune less qualified to deal with the vicissitudes, the obstacles, the demands, the crises of foreign policy and national security than Mr. Obama’s little coterie of Chicago-pol friends who’ve been running it so surpassingly excellently thus far?”

Another retirement, another Democratic seat becomes a toss-up. According to the Cook Political Report: “[Rep. Bill] Delahunt’s decision to leave doesn’t make this district a lost cause for Democrats by any means, but credible Republicans including former state Treasurer Joe Malone and state Rep. Jeffrey Perry are likely to run, and no Democrat appears capable of clearing a primary field. In a normal year, Democrats would enjoy a considerable advantage in an open seat race in MA-10. But this year, Democrats’ initial advantage isn’t great enough to warrant rating this race more favorably than a Toss Up.”

This might explain why all those voters are so angry: “President Obama’s policies would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday, including more than $2 trillion that Obama proposes to devote to extending a variety of tax cuts enacted during the Bush administration. The 10-year outlook by the nonpartisan Congressional Budget Office is somewhat gloomier than White House projections, which found that Obama’s policies would add $8.5 trillion to the debt by 2020. While the two agencies are in relative agreement about the short-term budget picture, with both predicting a deficit of about $1.5 trillion this year and $1.3 trillion in 2011, the CBO is less optimistic about future years, predicting that deficits will grow rapidly after 2015.”

And why they don’t like ObamaCare, as James Capretta explains: “The president started off last year by saying he wanted to ‘bend the cost-curve’ even as he broadened coverage. But after a year of partisan political and legislative maneuvering, all that’s left is a massive entitlement expansion. The new costs would get piled on top of the unreformed and unaffordable entitlements already on the books. It’s a budgetary disaster in the making.”

How many times has “shpilkes” been used in a mainstream-media headline? (How many ABC.com readers even know what it means?)

Even before Harry Reid’s latest boneheaded remark: “Two of Senate Majority Leader Harry Reid’s Republican challengers have again crossed the 50% threshold and now hold double-digit leads in Nevada’s U.S. Senate race. One big hurdle for the incumbent is that most Nevada voters are strongly opposed to the health care legislation championed by Reid and President Barack Obama. The latest Rasmussen Reports telephone survey of likely voters in the state finds Sue Lowden, ex-chairman of the Nevada Republican Party, with a 51% to 38% lead on Reid. Seven percent (7%) prefer some other candidate, but just three percent (3%) are undecided.”

From the “2006 All Over Again” file: “Eager to avoid a repeat of the Mark Foley scandal, House Democratic leaders moved quickly last month when a staffer for Rep. Eric Massa complained that he’d made advances to a junior male aide. But rumors about Massa had been circulating for months in both Democratic and Republican circles on Capitol Hill, and GOP operatives even considered digging into them on their own. However, sources say there wasn’t evidence of any wrongdoing until Massa’s then-legislative director contacted the office of House Majority Leader Steny Hoyer (D-Md.) in early February. … But a Massa aide told POLITICO that Massa — who is married and has children — has been engaged in inappropriate behavior ‘for eight months.'”

And Massa will resign Monday.

John McCain is trying to get the Gang of 14 back to beat reconciliation. No takers. And reconciliation is sort of irrelevant. But other than that, a great idea.

Read Less

Democrats Need an Exit Plan in Illinois

The Chicago Sun Times reports:

State Treasurer Alexi Giannoulias acknowledged Wednesday that his family bank, the Broadway Bank, will probably fail.

But Giannoulias strongly denied he ever engaged in “reckless” or “risky” loan-making when he served as chief loan officer for his family’s now-struggling Broadway Bank. Giannoulias ran for state treasurer four years ago touting his know-how as a bank executive.

Well, it gets better — or worse, depending on your perspective:

Giannoulias denied having any role in getting his former campaign policy director in 2006, Brent Adams, his current post as Acting Secretary of Financial and Professional Regulation for the state of Illinois, which has jurisdiction over Broadway Bank. …

He strongly denied the family was irresponsible for taking $69 million out of the bank just before the real estate collapse that he said they did not see coming.

“In 2007, if we knew the market was going to go sour, we would have stopped making loans,” Giannoulias said. “The bank was appraised in 2006 or 2007 for $300 million, so they could have sold the bank, even if just for $200 million.”

Giannoulias defended his use of “brokered deposits” — under his tenure they became 68 percent of the bank’s deposits compared to the industry standard of four percent — saying Broadway did not have a lot of branches and ATMs to bring in deposits.

And what about his bank’s Mob clients? Ah, those would be “‘a few colorful characters’ — convicted bookmaker Michael Giorango, Russian mobsters Boris and Lev Stratievsky, and convicted influence peddler Tony Rezko — [who] were not representative of his portfolio. Giannoulias denied, even though he went down to Florida to inspect the properties, that he was aware of Giorango’s mob ties.”

Really, what were the Democrats thinking when they nominated him? Well, the lieutenant-governor nominee already stepped down after his domestic-violence issue came to light. So I’m not convinced that Giannoulias is going to make it all the way to November. Frankly, if there isn’t a Frank-Lautenberg-for-Robert-Torricelli game plan in the works, I think that seat is a goner for the Democrats. After all, they don’t want to fall behind (jump ahead of?) New York in the most-embarrassing-political-culture race, do they?

The Chicago Sun Times reports:

State Treasurer Alexi Giannoulias acknowledged Wednesday that his family bank, the Broadway Bank, will probably fail.

But Giannoulias strongly denied he ever engaged in “reckless” or “risky” loan-making when he served as chief loan officer for his family’s now-struggling Broadway Bank. Giannoulias ran for state treasurer four years ago touting his know-how as a bank executive.

Well, it gets better — or worse, depending on your perspective:

Giannoulias denied having any role in getting his former campaign policy director in 2006, Brent Adams, his current post as Acting Secretary of Financial and Professional Regulation for the state of Illinois, which has jurisdiction over Broadway Bank. …

He strongly denied the family was irresponsible for taking $69 million out of the bank just before the real estate collapse that he said they did not see coming.

“In 2007, if we knew the market was going to go sour, we would have stopped making loans,” Giannoulias said. “The bank was appraised in 2006 or 2007 for $300 million, so they could have sold the bank, even if just for $200 million.”

Giannoulias defended his use of “brokered deposits” — under his tenure they became 68 percent of the bank’s deposits compared to the industry standard of four percent — saying Broadway did not have a lot of branches and ATMs to bring in deposits.

And what about his bank’s Mob clients? Ah, those would be “‘a few colorful characters’ — convicted bookmaker Michael Giorango, Russian mobsters Boris and Lev Stratievsky, and convicted influence peddler Tony Rezko — [who] were not representative of his portfolio. Giannoulias denied, even though he went down to Florida to inspect the properties, that he was aware of Giorango’s mob ties.”

Really, what were the Democrats thinking when they nominated him? Well, the lieutenant-governor nominee already stepped down after his domestic-violence issue came to light. So I’m not convinced that Giannoulias is going to make it all the way to November. Frankly, if there isn’t a Frank-Lautenberg-for-Robert-Torricelli game plan in the works, I think that seat is a goner for the Democrats. After all, they don’t want to fall behind (jump ahead of?) New York in the most-embarrassing-political-culture race, do they?

Read Less

Maybe Obama Shouldn’t Go Home

Illinois politics is nothing if not entertaining. Both the Democratic and Republican gubernatorial primary races are up in the air, with a few hundred votes separating the top GOP finishers and Democratic Governor Pat Quinn declaring victory, though his opponent had not conceded when the president called both yesterday. Then there is the Democratic Lieut. Governor nominee:

The newly minted Democratic nominee for lieutenant governor said Wednesday he doesn’t think a 2005 domestic battery arrest should hurt him in the fall general election, although records in the case raise questions about his version of events. Scott Lee Cohen, a pawn broker who was the surprise winner in the little-publicized contest among half a dozen candidates, had previously disclosed the arrest. He described it Wednesday as an argument with his drunken girlfriend and said he didn’t lay a hand on her, though she called the police and had him taken into custody.

Meanwhile, the U.S. Senate race is off with a bang. At a unity breakfast Wednesday, this Sun-Times report tells us, the GOP state party chair got things off to a flying start when he cheered nominee Mark Kirk and “derided Kirk’s Democratic opponent Alexi Giannoulias as ‘a 33-year-old with less than one term in office, whose only life experience is serving as an officer in his family’s bank, which is on the verge of financial collapse. As treasurer, he lost $150 million of our children’s college savings.'” There is, he explained, quite a lot of material for Kirk to work with:

“With that record, even Tony Rezko is going to stop doing his business in the bank.”

Republicans wasted no time in putting up an attack ad which savages Giannoulias about loans he made from his family’s bank to people linked with organized crime — loans he has since told the Sun-Times, that in hindsight, knowing what he knows now, he would not have made. Kirk criticized Giannoulias for dodging questions about those loans on Wednesday morning news shows.

“I think David Hoffman was right in everything he said about the bank,” Kirk said today, referring to Giannoulias primary opponent David Hoffman.

No wonder the New York Times confesses to its readers that the Giannoulias-Kirk matchup is “setting off a new round of worrying among Democrats that the reliably Democratic seat might be picked off by Republicans in November.”

Given all that, I suspect that this is one state Obama might want to steer clear of, even though his former seat is at stake. And with Obama’s track record in New Jersey, Virginia, and Massachusetts, there is no guarantee that the president would prove much help to Giannoulias. Indeed, his appearance in those states seemed only to gin up the Republican base and highlight the connection between the Democratic candidates and the increasingly unpopular national Democratic agenda. With a polished opponent, the upcoming trial of former governor Rod Blogojevich, a load of Tony Soprano–type oppo ads waiting to be launched against him, and a “challenging” atmosphere for Democrats, Giannoulias probably has his hands full without a presidential visit.

Illinois politics is nothing if not entertaining. Both the Democratic and Republican gubernatorial primary races are up in the air, with a few hundred votes separating the top GOP finishers and Democratic Governor Pat Quinn declaring victory, though his opponent had not conceded when the president called both yesterday. Then there is the Democratic Lieut. Governor nominee:

The newly minted Democratic nominee for lieutenant governor said Wednesday he doesn’t think a 2005 domestic battery arrest should hurt him in the fall general election, although records in the case raise questions about his version of events. Scott Lee Cohen, a pawn broker who was the surprise winner in the little-publicized contest among half a dozen candidates, had previously disclosed the arrest. He described it Wednesday as an argument with his drunken girlfriend and said he didn’t lay a hand on her, though she called the police and had him taken into custody.

Meanwhile, the U.S. Senate race is off with a bang. At a unity breakfast Wednesday, this Sun-Times report tells us, the GOP state party chair got things off to a flying start when he cheered nominee Mark Kirk and “derided Kirk’s Democratic opponent Alexi Giannoulias as ‘a 33-year-old with less than one term in office, whose only life experience is serving as an officer in his family’s bank, which is on the verge of financial collapse. As treasurer, he lost $150 million of our children’s college savings.'” There is, he explained, quite a lot of material for Kirk to work with:

“With that record, even Tony Rezko is going to stop doing his business in the bank.”

Republicans wasted no time in putting up an attack ad which savages Giannoulias about loans he made from his family’s bank to people linked with organized crime — loans he has since told the Sun-Times, that in hindsight, knowing what he knows now, he would not have made. Kirk criticized Giannoulias for dodging questions about those loans on Wednesday morning news shows.

“I think David Hoffman was right in everything he said about the bank,” Kirk said today, referring to Giannoulias primary opponent David Hoffman.

No wonder the New York Times confesses to its readers that the Giannoulias-Kirk matchup is “setting off a new round of worrying among Democrats that the reliably Democratic seat might be picked off by Republicans in November.”

Given all that, I suspect that this is one state Obama might want to steer clear of, even though his former seat is at stake. And with Obama’s track record in New Jersey, Virginia, and Massachusetts, there is no guarantee that the president would prove much help to Giannoulias. Indeed, his appearance in those states seemed only to gin up the Republican base and highlight the connection between the Democratic candidates and the increasingly unpopular national Democratic agenda. With a polished opponent, the upcoming trial of former governor Rod Blogojevich, a load of Tony Soprano–type oppo ads waiting to be launched against him, and a “challenging” atmosphere for Democrats, Giannoulias probably has his hands full without a presidential visit.

Read Less




Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor to our site, you are allowed 8 free articles this month.
This is your first of 8 free articles.

If you are already a digital subscriber, log in here »

Print subscriber? For free access to the website and iPad, register here »

To subscribe, click here to see our subscription offers »

Please note this is an advertisement skip this ad
Clearly, you have a passion for ideas.
Subscribe today for unlimited digital access to the publication that shapes the minds of the people who shape our world.
Get for just
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
YOU HAVE READ OF 8 FREE ARTICLES THIS MONTH.
FOR JUST
Welcome to Commentary Magazine.
We hope you enjoy your visit.
As a visitor, you are allowed 8 free articles.
This is your first article.
You have read of 8 free articles this month.
YOU HAVE READ 8 OF 8
FREE ARTICLES THIS MONTH.
for full access to
CommentaryMagazine.com
INCLUDES FULL ACCESS TO:
Digital subscriber?
Print subscriber? Get free access »
Call to subscribe: 1-800-829-6270
You can also subscribe
on your computer at
CommentaryMagazine.com.
LOG IN WITH YOUR
COMMENTARY MAGAZINE ID
Don't have a CommentaryMagazine.com log in?
CREATE A COMMENTARY
LOG IN ID
Enter you email address and password below. A confirmation email will be sent to the email address that you provide.