-By Warner Todd Huston
Democrat candidate for Senate Alexi Giannoulias seems to be having some trouble raising campaign cash, at least when compared to the more successful efforts by GOP candidate Mark Kirk.
Giannoulias told reporters that his first quarter fund raising rang in at about $1.1 million for his race to win Barack Obama’s old Senate seat. For his part, Kirk reported that he raised $2.2 million.
The candidate have until April 15 to make their formal fundraising report.
Giannoulias claimed that his bank troubles were not a factor in his lower fundraising amount than Kirk’s. It has been discovered that Broadway Bank, the family bank Giannoulias ran, made over $20 million in bad loans to convicted felons, loans that were never paid back.
The bank is also in severe financial straits having lost $75.3 million last year alone. Regulators have given Broadway Bank until the end of the month to raise $85 million to cover its shortfall.
Quiet whispers among state Democrats have been heard questioning Giannoulias’ electability and rumors abound that state pols are considering alternatives to his candidacy despite his win in the late primary.
Desperate to refocus the news cycle upon Mark Kirk, Giannoulias tried to characterize Kirk as “obsessed” about Giannoulias’ Broadway Bank troubles. Kirk, however, has built a small 37-33 lead in the polls early in this campaign.