By Warner Todd Huston ——Bio and Archives--April 27, 2010
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As expected, the Federal Deposit Insurance Corporation seized control Friday of Broadway Bank, the community bank owned by the family of Democratic Senate nominee Alexi Giannoulias. The bank’s financial problems and its business relationships with people associated with corruption and organized crime have dogged Giannoulias’ campaign since early February when he became the nominee. Broadway’s failure will have an enormous impact on Giannoulias’ campaign, and it is entirely possible that the fallout could force him from the race. As such, the race is moving from the Toss Up to the Lean Republican column. …Given recent events, it’s impossible to justify keeping the race in the Toss Up column. While current circumstances would seem to lend themselves to a rating of Likely Republican, we know that it’s entirely possible that we could well be dealt a different hand – and a very different race – a month or two from now. As such, the race moves to the Lean Republican column.I have to say, with a possible Republican pick up of Obama’s old Illinois seat AND the possible pick up of VP Biden’s Delaware seat also looking to go to a Republican (Mike Castle), it would be an amazing rebuke to the Democrats to have their two top men’s old seats switch parties! This would be one for the record books, for sure. I mean, has this ever even happened before?
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Warner Todd Huston’s thoughtful commentary, sometimes irreverent often historically based, is featured on many websites such as Breitbart.com, among many, many others. He has also written for several history magazines, has appeared on numerous TV and radio shows.
He is also the owner and operator of Publius’ Forum.