Feds put off report of Giannoulias bank failure until after election

posted at 6:00 pm on October 23, 2010 by Ed Morrissey

Normally, a final report from the FDIC on the seizure of a bank comes six months after the seizure.  Broadway Bank got seized on April 23rd of this year, and six months is, well, today. The Chicago Tribune reports that the FDIC is going to wait until mid-November instead to reveal its findings on what created the collapse of the bank, which lets Alexi Giannoulias off the hook before Election Day:

The release of the report before the election could have been another political headache for Giannoulias in the close contest with Republican Mark Kirk. Giannoulias has been on the defensive over his role in loans Broadway Bank made to convicted felons while he was a senior loan officer, as well as other troubled lending that contributed to the bank’s collapse early this year.

The inspector general of the Federal Deposit Insurance Corp. typically issues a “material loss” report, which details issues in a bank’s failure, about six months after the institution is taken over by the regulators. Broadway, which the FDIC accused of “unsafe banking practices,” was closed on April 23, at a cost to the FDIC of $394.3 million.

When it issued an interim report in August, the inspector general’s office said the final report would be issued on or before its Nov. 14 due date. On Friday, agency lawyer John Davidovich said the report is not expected within the next two weeks.

Well, an early (or actually on time) release would help Giannoulias and his family defend themselves from attacks over the collapse, wouldn’t it?  That is, if Giannoulias has told the truth about the nature of the loans Giannoulias approved and the $70 million in capital that the family pulled out of Broadway a few years ago.  After all, the failure of the bank cost taxpayers and voters almost $400 million.

Wouldn’t it be nice for voters to have the complete record on the collapse before deciding whether to trust Alexi Giannoulias with the rest of our money?

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Politics, baby!

Even the FDIC isn’t exempt in the age of Bambi.

BacaDog on October 23, 2010 at 6:04 PM

….the FDIC is going to wait until mid-November instead to reveal its findings on what created the collapse of the bank, which lets Alexi Giannoulias off the hook before Election Day

Imagine that. Didn’t see this coming.

tru2tx on October 23, 2010 at 6:06 PM

I can’t read the damn story because of the Bloomberg ad. Can you please get rid of it?

txag92 on October 23, 2010 at 6:07 PM

It’s the Chicago way.

jjshaka on October 23, 2010 at 6:08 PM

I can’t read the damn story because of the Bloomberg ad. Can you please get rid of it?

txag92 on October 23, 2010 at 6:07 PM

What is that thing? Looks in the right space but instead of going across is goes down covering the page!

Marcus on October 23, 2010 at 6:11 PM

Wouldn’t it be nice for voters to have the complete record on the collapse before deciding whether to trust Alexi Giannoulias with the rest of our money?

The people of Illinois are insane if they elect this boob. What will it matter after he’s elected? He’ll be a Senator, and thus…who’s gonna touch him? Republicans seem to be getting weak, and wishy washy lately, and thoroughly committed to jumping in bed with Dems after the elections.

Once he’s a senator, what are the odds, even if they find him to have committed a felony…that anything will be done about him? They won’t touch him.

Another election where, for all the corruption, and criminal activity of this guy, yet he’s still polling great….I just don’t know anymore. I can’t believe people want this kind of person running the country. :(

capejasmine on October 23, 2010 at 6:12 PM

Am I the only one getting a Bloomberg Businessweek popup on this site that won’t go away, has no apparent off button, and obscures the text beneath it?

novaculus on October 23, 2010 at 6:12 PM

txag92 on October 23, 2010 at 6:07 PM

I guess not.

novaculus on October 23, 2010 at 6:13 PM

The coding for the Bloomberg ad which is supposed to run horizontally across the top is wrong, allowing it to drop vertically down the page. Everything is unreadable because of it. Doesn’t seem to be happening w/ the other ads.

Connie on October 23, 2010 at 6:13 PM

Get that #@!$$ Bloomberg Pop-up off your stupid site!! It blocks everything right down the middle of the screen.

FalseProfit on October 23, 2010 at 6:13 PM

I think Kirk will pull it out here in Illinois. NO ONE I speak to in Chicago is enthused — in any way — for Alexi (though they aren’t for Kirk, either, but the typical anti-Republican vitriol is less-than-usual).

It would be nice if this mess came out BEFORE the election, though. Either way, I’ll be sure to send this post to my friends. Thanks, Ed.

lansing quaker on October 23, 2010 at 6:14 PM

Firefox with AdBlock Plus has kept me Bloomberg free!

As for the FDIC, Gianolwhateverhisnameis, etc, are we really surprised? I know it is nothing new, but the past couple of years have revealed blatant corruption and graft at every level and department of government. My bet is the report is very damning and someone has been paid to keep it under wraps for as long as they can.

JohnTheBuilder on October 23, 2010 at 6:18 PM

Just like the feds did with the black panther(doj) thing? Someone is getting big bucks for this little ditty! Probably at the expense of U.S. taxpayers!
L

letget on October 23, 2010 at 6:28 PM

I live a world away from Chicago but after watching the Meet The Press debate and hearing this guy speak for the first time ever, I came away with the impression if elected the FBI should just set up shop in the Senate building on his floor. He looks and acts like something out of a Martin Scorcesse film.

Marcus on October 23, 2010 at 6:34 PM

capejasmine on October 23, 2010 at 6:12 PM

Hmmmmm….Giannoulias or Kirk.
Decisions, Decisions….how about neither. :((

tencole on October 23, 2010 at 6:35 PM

Actually, I think this provides a good setup for an attack ad against Giannoulias:

Why is the Obama administration hiding this report from the public until after the election?

What is in the report that President Obama believes Giannoulias needs to be protected from until after the election?

Oh, and let’s review what the investigation was looking into…

Etc., etc., etc.

Rational Thought on October 23, 2010 at 6:36 PM

Rational Thought on October 23, 2010 at 6:36 PM

… and add to that attack ad “Why do Zero and Junk Justice Holder need to protect themselves from the Giannoulias report?”

viking01 on October 23, 2010 at 6:41 PM

Seriously, firefox and adblock plus. Right as rain.

WitchDoctor on October 23, 2010 at 6:41 PM

and the $70 million in capital that the family pulled out of Broadway a few years ago. After all, the failure of the bank cost taxpayers and voters almost $400 million.

So the Geewestolethemoolahs pocket 70 mil, made loans to felons, and arranged cover by the FDIC.

That looks like someone that will fit in nicely in the sewer that is DC.

ontherocks on October 23, 2010 at 6:41 PM

I can’t read the damn story because of the Bloomberg ad. Can you please get rid of it?
txag92 on October 23, 2010 at 6:07 PM
What is that thing? Looks in the right space but instead of going across is goes down covering the page!
Marcus on October 23, 2010 at 6:11 PM

Get Firefox with Adblock and No Script.
You won’t see any ads.

Dr. Carlo Lombardi on October 23, 2010 at 6:50 PM

Firefox with AdBlock Plus has kept me Bloomberg free!

JohnTheBuilder on October 23, 2010 at 6:18 PM

For especially obnoxious ads, I apply the nuclear option: I add the domain name to lmhosts. Normally I don’t like to block ads that hard, because they pay for websites I enjoy, but the only reason outfits like doubleclick use a well know domain is to track you between sites. I don’t consent to that.

pedestrian on October 23, 2010 at 6:52 PM

I’m thinking of an ad titled “Friends in High Places.”

flataffect on October 23, 2010 at 6:57 PM

Adblock with the Google Chrome browser also eliminates all the annoying ads. I love it.

ak2ary on October 23, 2010 at 7:01 PM

Firefox, people, Firefox.

Also use MALWAREbytes and SUPERantispyware which will block popups.

As for this demorat criminal and his bank, what the he1l is wrong with the people of Illinois that such a creep could get more than 5% of the vote? What does it take?

Bishop on October 23, 2010 at 7:04 PM

Since it sounds like the report is finished, nothing is stopping the press from using their sources to get the details for a blockbuster story…except maybe media bias, because you know full well if the report was damaging to a Republican candidate, it would be the headline story of
Monday morning.

OxyCon on October 23, 2010 at 7:05 PM

What is that thing? Looks in the right space but instead of going across is goes down covering the page!

Marcus on October 23, 2010 at 6:11 PM

Yep, happening with Google Chrome also. I don’t get pop-up ads, those who aren’t seeing Bloomberg just haven’t had it served to them yet. It doesn’t occur on each page, just occasionally.

AZfederalist on October 23, 2010 at 7:06 PM

pedestrian is right.

The other advantage of using a HOSTS file, especially the mvps one, is that the folks who make them up have also researched a lot of the data-scraping and other privacy abusing sites and put them in, as well. Even if the site manages to plant a cookie or other robot code, the data goes to null, not to the data collector.

Downside: You can’t follow Google “sponsored links”. Of course if you actually want to do that you shouldn’t be worried about ads.

Regards,
Ric

warlocketx on October 23, 2010 at 7:07 PM

The problem here really has nothing to do what browser to use. It really doesn’t have anything to do with ads either. Something is actually wrong w/ the ad itself.

Connie on October 23, 2010 at 7:14 PM

Connie on October 23, 2010 at 7:14 PM

Two questions..(1) What is the Pop Up Blocker setting for your computer on..(2)..Are you using the Dashboard Feature on Hot Air? ..:)

Dire Straits on October 23, 2010 at 7:28 PM

Shocker.

SlaveDog on October 23, 2010 at 7:29 PM

Rational Thought on October 23, 2010 at 6:36 PM

That’s actually a great ad idea!

ladyingray on October 23, 2010 at 7:36 PM

What do decent people in Chicago do? Are there any? Certainly not in politics. I grew up near Chicago, and it’s always been a disgusting hell hole of political corruption. Grotesque.

As I said before the fact that Barf hails from Chicago was enough to disqualify him for me for national office.

Where’s Patrick Fitzgerald? Ahhh….. in their pockets, I guess. Scooter Libby is destroyed over nothing, and this crap continues unabated.

Gangsters, thieves and an idiot potus.

Thanks a lot, Chicago.

Cody1991 on October 23, 2010 at 7:44 PM

Not only has this report been delayed but a federal judge has agreed to delay the second corruption trial of ousted Illinois Gov. Rod Blagojevich by nearly five months (from January to April) a ruling that may come as a relief to some dem. candidates, including former White House chief of staff Rahm Emanuel, who is running for mayor. There are rumblings that convicted felon and bag man, Tony Rezko, is going to testify. What a tangled web we weave, when first we practice to deceive! Chicago makes Al Capone look a choire boll!

MayorDaley on October 23, 2010 at 7:45 PM

Two questions..(1) What is the Pop Up Blocker setting for your computer on..(2)..Are you using the Dashboard Feature on Hot Air? ..:)

Dire Straits on October 23, 2010 at 7:28 PM

Pop Up blocker is on. I don’t get any pop ups. The Bloomberg ad is not a pop up ad. It’s a stationary ad.

No dashboard.

Connie on October 23, 2010 at 7:46 PM

Pop Up blocker is on. I don’t get any pop ups. The Bloomberg ad is not a pop up ad. It’s a stationary ad.

No dashboard.

Connie on October 23, 2010 at 7:46 PM

Is the bloomberg ad right below your refresh button?:)

Dire Straits on October 23, 2010 at 7:52 PM

Wow, I thought I had a virus for a minute and didn’t want to click on Bloomberg. How annoying is that thing?

hip shot on October 23, 2010 at 7:58 PM

Republican-lead House Committee on Standards of Official Conduct agenda item # 24,532.

Actually it is a serious follow up question. Should the GOP start investigations into this kind of stuff after the new session begins? Which item should be at the topic of the list?

chimney sweep on October 23, 2010 at 8:00 PM

No. It’s not one of those annoying mouse-over ads either. It’s an ad bundled in w/ others from an ad service HA is using. The ads rotate. All other ads in the bundle are remaining stationary and horizontal along the top of the page – except the Bloomberg ad. Something is quite simply wrong with it – probably on the ad service’s end.

Connie on October 23, 2010 at 8:01 PM

Connie on October 23, 2010 at 8:01 PM

Gotcha..Two moves in my opinion..(1) Firefox (2) use Hot Air’s Dashboard..:)

Dire Straits on October 23, 2010 at 8:07 PM

C’mon Drudge use your connections to get the inside scoop, and pronto. There’s bound to be some in Dept. of Junk Justice willing to hint at what’s in Holder’s latest coverup.

viking01 on October 23, 2010 at 8:24 PM

Just like they put off voting on extending the Bush Tax cuts until after the Election.

Christine O’Donnell Trying To Break The Spell On Delaware. Trick Or Treat It’s Your Choice Delaware

Dr Evil on October 23, 2010 at 8:44 PM

Feds put off report of Giannoulias bank failure until after election.

Of course they are. Don’t want to allow the cleansing sunshine of day get in the way of Illinois/Chicago politics.

Illinois, the best government you can buy.

coldwarrior on October 23, 2010 at 10:01 PM

As for that annoying godawful Bloomberg advert and others that sorta sit right in the middle of the page. Hit refresh…reload…whatever ya call that circle arrow thingie on the toolbar…the ad doesn’t appear on the new page.

Note to HA…dump this thing. It is getting tiring.

coldwarrior on October 23, 2010 at 10:03 PM

I early voted for Kirk, even though he’s a disgusting RINO.

But, my parents are buried in Chicago so I suspect that their votes will nullify mine.

Special Forces Grunt on October 23, 2010 at 10:19 PM

I don’t have any Bloomberg ads here but maybe they have already been taking down since it is an hour or later since Ad appeared.

On Issue:
I call upon Congressman Issa to demand that report be released.

hawkman on October 23, 2010 at 10:22 PM

Maybe it will show up in WikiLeaks, not.

bayview on October 23, 2010 at 11:18 PM

Firefox + AdBlock + NoScript == no annoying popups or malware.
Go here if you are unfamiliar with the concept.

SunSword on October 24, 2010 at 9:42 AM

Does anyone really believe that if it was a mob bank in which a republican senatorial candidate was a partner, that the media would just say, ok let’s wait til after the election to read and publish the report? Hellno! The liberal media would have the report already and if it was damaging they would publish it two to three days before the election (and even if it wasn’t that damaging they’d publish all the negatives they could find or skew three days before the election, to torpedo the republican candidate. So please don’t tell us that these same reporters who could gain access to and publish our national security secrets on a daily basis, now find it impossible to get even a draft report out of the fed. We aren’t stupid.

eaglewingz08 on October 24, 2010 at 10:13 AM

It’s not like it would make a difference for Illinois voters anyway.

MNHawk on October 24, 2010 at 2:08 PM

Feds put off report of Giannoulias bank failure until after election

The fix is in…

Khun Joe on October 24, 2010 at 7:11 PM