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Woes at Family Bank Loom Over Senate Race
CHICAGO (AP) -- Democrats desperate to hold on to President Barack Obama's old Senate seat are scrambling to counter revelations that a bank owned by their candidate's family may be nearing collapse.

The troubles of Chicago-based Broadway Bank have become the central focus in one of the country's hottest Senate races. Republicans are gunning for Obama's old seat as their next big election prize to try to erode Democrats' hold on Washington.

Alexi Giannoulias, Illinois' first-term state treasurer, has tried to answer away questions, saying the bank was a victim of the real estate slump that hurt the rest of the economy.

His opponent, Republican Mark Kirk has been quick to use the bank's troubles and its lending practices to portray Giannoulias as a failed businessman.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
03 09 10 by Newsroom
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