Chicago Mob Linked Illinois Treasurer Giannoulias threatens bank over Obama suit-maker

The AP reports on Chicago Mob linked banker Alexi Giannoulias:

Illinois Treasurer Alexi Giannoulias is threatening to pull state business from Wells Fargo unless the bank quits pressuring suit maker Hartmarx Corp. into liquidating.

The Chicago-based holding company — parent of Hart Schaffner & Marx, maker of suits favored by President Barack Obama — filed for bankruptcy protection in January. The bank has provided Hartmarx with a $100-million debtor-in-possession credit line.


On Thursday Mr. Giannoulias sent a letter to Wells Fargo officials, according to news reports. The bank serves as the treasurer’s office money custodian, holding the department’s cash and other financial assets.

“I am writing to inform Wells Fargo that the company’s intention to liquidate Hartmarx rather than allow a sale to buyers intent on keeping the company running will significantly jeopardize the business relationship between Wells Fargo and the state of Illinois,” the letter read.

Government funding,means government pressure and control.