From Eric Dondero:

The Obama administration is preparing to dole out a major chunk of change to Illinois Democrat Senate candidate Alexi Giannoulias and his family in an effort to bail out his failing bank.

From Chicago Business, March 8 "Giannoulias family could walk away from Broadway Bank collapse with $15 million tax refund":

The family of Democratic U.S. Senate nominee Alexi Giannoulias stands to collect more than $10 million in federal tax refunds even if its Broadway Bank fails, which Mr. Giannoulias said last week is likely.

A $75-million loss at the struggling lender last year generated tax benefits potentially worth between $12 million and $15 million to Mr. Giannoulias, his two brothers and his mother.

According to MSNBC Giannoulias was with Obama at the "White House for [the] Greek Independence Day celebration," last Tuesday.

No word on what was discussed, or if the two held meetings with Chicago campaign operative and chief Obama advisor in the White House David Axlerod. But he did single out Giannoulias for praise.

Obama announced to the crowd (from The Scoop):

Alexi, stand up -- from the state of Illinois. (Applause.) We've got in fact, in addition to Alexi, we've got a lot of Greek American friends here...

Giannoulias is being challenged for the Obama seat, currently held by Sen. Roland Burris, by Republican Rep. Mark Kirk of the northern Lakes area, near Chicago.

Loans to convicted criminals, much subsidized by US Taxpayers, of up to $52 million

Now, this morning, in an interview with the Chicago Sun-Times, Kirk is criticizing Giannoulias for his questionable ties.

From the Sun-Times:

U.S. Rep Mark Kirk said today that Thursday's arrest of a Giannoulias Family friend and bank customer brings the amount of money Broadway Bank has loaned to criminals to $52 million.

State Treasurer Alexi Giannoulias, Kirk's Democratic opponent for U.S. Senate, has said that as chief loan officer of his family's bank from 2002 to 2006, he did not check loan applicants’ arrest records.

Kirk calls that "reckless."

Giannoulis allegedly approved a loan to Nick Giannis, owner of the Chicago hotspot Boston Blackies.

Giannoulias buddy Giannis, under charges, busted trying to sneak across the Canadian border

Just days ago, close friend of Giannoulias, Nick Giannis was arrested by Canadian authorities trying to leave the United States.

Continuing from the Sun-Times:

Nick Giannis was arrested at the U.S.-Canadian border with his Greek passport Thursday, apparently trying to flee the country as he was being indicted in a check-kiting scheme in Cook County.

The Giannoulias and Giannis families reportedly were friends and Giannis had contributed about $120,000 to Giannoulias’ political campaigns. Giannoulias plans to donate $120,000 from his campaign to charity.

He was charged with felony possession of a firearm.

On Jan. 1, 1996, Nick Giannis was stopped for speeding and driving under the influence as he was driving northbound on 1-294, according to court records.

When officers searched his vehicle, they found a bag with a gun inside in the back seat of the car.

Additionally, according to various sources, it is alleged that Boston Blackies, a popular hang-out and event fundraiser location for Chicago pols, served as headquarters for a criminal operation.

Photos of Boston Blackies:(Above) shows Giannoulias campaign sign upper left, and (bottom) of inside the bar with mural of famous Chicago mobsters. Note - the bar itself is named after a legendary 1880s jewel thief and safe cracker from dimestore novels.

Chris Giannis, anxious to trade cold bologna sandwiches from jail cell, for a burger and a beer

Meanwhile, this breaking news... the co-owner of Boston Blackies just bonded out of jail.

From Chicago Breaking News center:

A co-owner of the Boston Blackie's restaurants bonded out of Cook County Jail today after he, his co-owner father and a restaurant manager were charged in connection with what prosecutors called a nearly $1.9 million check-kiting scheme.

As he left the jail, Chris Giannis made a brief statement, saying "I still don't know what I'm charged with."

He then said after suffering through jail meals, he was looking forward to a cheeseburger at Boston Blackie's.

Further background:

Chris Giannis, 38, Nick Giannis, 62, and restaurant manager Andy Bakopoulos, 38, were charged with defrauding Charter One and Washington Mutual banks. Chris Giannis also was charged with two counts of being an organizer of a continuing financial crimes enterprise.

In an impromptu press conference outside the jail, Giannis state, "I don't know why everyone is talking politics," in regards to his family ties to Giannoulias.

(See video of the younger Giannis leaving jail here.)

Giannoulias is denying any responsibility for loans being made from his bank to the Giannis family. He is similarly denying any responsibility for loans being made to other suspected individuals with alleged mob ties, including most famously convicted Chicago land deal fraudster Tony Rezko (photo above), and convicted sports betting bookmaker Michael "Jaws" Giorango.

And finally this, continuing from the Sun-Times:

Giannoulias signed off on $20 million in loans to reputed father-and-son Russian mobsters Lev and Boris Stratievsky (photo) but Giannoulias said -- and the records back him up -- that when they came in to his bank they had "not even a misdemeanor" charge.

Poll show an extremely tight race. An earlier poll had Kirk up by 4. But a poll last week from Rasmussen showed Giannoulias in the lead 44% to 41%.