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.

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.

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?