Just days after the failure of his family's bank, Alexi Giannoulias released a new ad using the bank's closure to slam his opponent Mark Kirk, accusing Kirk of being out of touch with struggling family businesses.
The ad, titled "Fighter," begins with Giannoulias explaining that Broadway Bank has helped thousands of people who could not "go to the big banks" achieve the American dream and goes on to explain that no one could have foreseen what would happen to banks and other small businesses throughout the country.
"When I left over four years ago, it was in good shape," Giannoulias said in the ad. "We've seen family businesses go under on every block, on every corner."
His remarks in the ad echo what he told the media Sunday regarding the bank's collapse, NBC Chicago reports:
"When I left Broadway Bank over four years ago, it was one of the highest performing banks in the state of Illinois. It had capital in excess of not only what its peer group had, but also in excess of what the FDIC required, and very few people could have foreseen what took place over the next few years," Giannoulias said. "And the fact that less than 9 percent of the non-performing assets were even around when I was there -- I think that says a lot about what I've done as state treasurer and it's what is on the forefront of voters' minds."
The new ad then targets Republican Mark Kirk, accusing him of not taking the job crisis seriously.
"Washington politician Mark Kirk doesn't get it," a narrator says. "First he voted for the Bush policies that got us into this mess, including tax breaks for companies that ship jobs to China. Then, Kirk has the nerve to vote against extending unemployment benefits, saying unemployment isn't a big issue."
As Giannoulias tries to turn the tables on Kirk, the Kirk campaign has no intention of backing off the failed bank issue:
"Clearly, Alexi Giannoulias is desperately trying to change the subject from his reckless business practices that led to the failure of Broadway Bank and the $394 million in losses the bank cost the FDIC - the fourth most expensive Illinois bank failure in the past 10 years," Kirk spokeswoman Kristin Kukowski told NBC Chicago.
WATCH the ad here: