Illinois: Giannoulias Addresses Bank Scandal in TV Ad

Posted April 26, 2010 at 6:40pm

Only a few days after federal regulators seized Senate candidate Alexi Giannoulias’ family bank, the Democratic nominee is talking about it in his first campaign spot of the general election.

The 60-second commercial, “Fighter,” is also a contrast advertisement between Giannoulias and the GOP nominee, Rep. Mark Kirk.

In the ad, Giannoulias addresses the bank’s woes by saying he was “very proud” of the institution when he left four years ago, “but no one could have foreseen these problems.”

Federal regulators last week shut down Broadway Bank, which is owned by Giannoulias’ family, after it failed to raise $85 million sufficient capital to remain open and independent.