WLS/Chicago's Cotto Broadcasts Live From Troubled Bank
April 23, 2010 at 8:00 AM (PT)
CITADEL Talk WLS-A/CHICAGO 9-11a host CISCO COTTO broadcast his FRIDAY show live from the bank owned by the family of ILLINOIS state Treasurer ALEXI GIANNOULIAS, ready to be on the scene if federal regulators seized the bank.
BROADWAY BANK, which lost $75 million last year and needs to raise $85 million in capital by MONDAY to avoid seizure, has become an issue in GIANNOULIAS' campaign for the Senate, although the candidate says that the bank's imminent failure is the result of the bad economy and that the bank was successful when he left four years ago. His opponent, Rep. MARK KIRK, has raised the bank's loans of $20 million to two convicted felons as illustrative of GIANNOULIAS' "reckless decision-making."