Wednesday, December 05, 2007

Democratic Culture of Corruption: Illinois Dem Part of Mortgage Scam

The Illinois State Treasurer, Alexi Giannoulias testified in a mortgage fraud suit yesterday and he pulled the Sgt. Schultz Defense, "I know nothing, I see nothing, I say nothing!" Flying Debris wrote about Alexi the, ahem, banker here more than nineteen months ago. Alexi (if I may call him that) was once a loan officer at his family's bank, the Broadway Bank here in Chicago. While there he approved a loan that anybody with half of a functioning brain would have recognized as fraudulent. Mr. Giannoulias is a man who has supported and has received support from Democratic Presidential primary candidate and Illinois Senator Barack Obama (D-IL). Mr. Obama has received money from the Giannoulias' and he helped raise funds for this disgraceful man's State Treasury run.

Alexi agreed that his family bank would write a mortgage for get this, an 83 year-old woman who could not fill out the forms, who did not have the means to repay the loan and the loan was cosigned by people with a history of bank fraud, prostitution charges and bookmaking. One of the men in question is named Michael “Jaws” Giorango he is a man Alexi described as "a good person." Well the money is gone and somehow I doubt that the octogenarian went on a million dollar spending spree, rather I suspect that the mobsters who Alexi thought were good co-signers (especially the one with a record of multiple bank frauds) probably spent the funds.

To paraphrase Paul Simon (the musician not the late Senator) on the subject of Alexi Giannoulias - "still pimping, after all these years, still pimping after all these years," to the tune of Still Crazy After All These Years.

It is also notable that the blue-state Chicago Sun Times consigned the linked article that makes a local Democrat look terrible to page 8 while featuring Dennis Quaid, his lovely wife and the terrible story of his children on the front page.

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