Obama,Rezko,and The Broadway Bank:The Ties that Bind

Senator Obama kept campaign funds at his good friend Alexi Giannoulias' Broadway Bank in 2004.The Broadway Bank made news for an important loan to the Chicago Mob.But,Broadway is also a tied to Tony Rezko.Marathon Pundit reports:

Brodaway (owned by Giannoulis and his family) Loaned Rezko Project $11 million:
"Rezko and his then-partner in Chicago-Hudson LLC, Daniel Muhra [sic], purchased
the site in 2001. But preconstruction sales for the units, priced from about
$300,000 to $600,000, floundered, and construction never proceeded. In early
2002 the partnership borrowed about $10.9 million from Chicago-based Broadway
Bank to carry the land, according to the bankruptcy filing." — From the Chicago
Tribune on 5/23/06

Broadway Bank (owned by Giannoulis and his family)
helped Tony Rezko's Rezmar Corp. finance a 24 story condominium: "When Mahru was
a partner with Rezko, their company — Rezmar Corp. — was helped by Thomas'
Carnegie Realty Partners to obtain financing to build a 24-story condominium
complex at Chicago and Hudson, a project that ultimately did not get off the
ground. The financial institution that backed that deal was Broadway Bank, which
is owned by the family of state Treasurer Alexi Giannoulias. Elected in the
Democratic sweep last year, Giannoulias has had to answer criticism over loans
his bank made to reputed crime figures. "Carnegie brought us to Broadway," Mahru
said, and introduced him to Giannoulias’ father. "We paid Carnegie a 1 percent
commission on the loan, which is normal and customary. A spokesman for
Giannoulias referred questions to the bank, which could not be reached." — From
the Chicago Sun-Times, 5/5/07