Giannoulias Family Bank Taken Over by Regulators

Worth Clicking: Blasts from the past wound Romney

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April 23, 2010

Giannoulias Family Bank Taken Over by Regulators

The Chicago Tribune reports banking regulators entered the Chicago headquarters of Broadway Bank tonight, "the apparent concluding step in the government's expected takeover of the family-run lender that helped launched U.S. Senate candidate Alexi Giannoulias' political career."

The FDIC estimates the cost to the Deposit Insurance Fund will be $394.3 million.

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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April 23, 2010