As if the Illinois Senate race wasn’t tough enough for Alexi Giannoulias, Obama’s friend’s bank shuts down along with six other Chicago area institutions. Alexi Giannoulias’ family owned and operated Broadway Bank but the FDIC shut it down. Giannoulias is the 34 year old Democrat vying for his basketball buddy’s old Senate seat.

Despite losing the family business, Giannoulias remains determined to defeat Mark Kirk and retain Barack Obama’s old Senate seat for the Democrats in November. Kirk has hammered Giannoulias on his possible shady dealings at Broadway Bank. Back when Giannoulias was the chief loan officer and Vice-President of the bank, some suspected mobsters were loaned over $20 million dollars in just over a year.

Whether or not Alexi Giannoulias, Obama’s friend from “basketball”, had any other reason besides just standard business to allegedly loan the mob money remains to be seen. It hasn’t really helped his Senate candidacy though. To see the latest on the Illinois Senate race go here. At this time Kirk holds a slight lead with neither candidate garnering 50% support.

At a press conference after the seizure of Broadway Bank, Alexi Giannoulias took a shot at Wall Street by saying, “Unlike the big Wall Street Banks, there was no bailout for my father’s bank.” This of course continues a theme put forth by Giannoulias’ friend Barack Obama who spent the day before heading off on a short vacation blaming Wall Street for the country’s economic plight.

Alexi Giannoulias used his position at Broadway Bank and its considerable financial status to run a successful 2006 campaign for Illinois State Treasurer. Now his ties to the bank have been more of a hindrance. Giannoulias says that he expects Obama to help him in his race for Senate. Alexi Giannoulias’ friend Obama would serve him well by staying as far away from Illinois as possible.