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Treasurer race pits newcomer, political vet
By Kurt Erickson
kurt.erickson@lee.net
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SPRINGFIELD -- The race to replace Republican Judy Baar Topinka as state treasurer pits a veteran state legislator against a political newcomer who says his credentials as a banker make him qualified for the office.

Democrat Alexi Giannoulias, 30, has been criticized by his opponent, state Sen. Christine Radogno, R-Lemont, for his family bank’s connections to a man with a criminal record.

Radogno, 53, says her opponent needs to fully explain his role in Broadway Bank’s loan of money to Michael Giorango, a convicted bookmaker. Giannoulias dismisses the allegations as campaign-time rhetoric designed to boost her profile.

And while a recent poll showed Radogno’s charges are not resonating with voters, the dispute has left Giannoulias in a precarious position within his own party.

House Speaker Michael Madigan, chairman of the Illinois Democratic Party, has refused to back Giannoulias, despite the candidate’s attempts to talk with the speaker. In a recent stop in Springfield, Giannoulias said he still hadn’t secured Madigan’s endorsement.

“I haven’t had the opportunity to sit down with the speaker yet,” he said.

Although Giannoulias lacks support from Madigan, he does have other well-known Democrats backing his candidacy.

U.S. Sen. Dick Durbin of Springfield recently led Giannoulias on a four-city tour of Central Illinois to help raise his profile and salve party loyalists who had backed his opponent in the primary.

“I’m impressed that he takes downstate so seriously,” said Durbin.

He also has enjoyed the support of U.S. Sen. Barack Obama, who backed him in a hard-fought primary race against Madigan-backed Knox County State’s Attorney Paul Mangieri.

Durbin also has dismissed the allegations against Giannoulias and the bank loans as little more than election year rhetoric.

Meanwhile, Radogno, who has served in the Senate since 1997 and is the Senate Republican point person on budget and fiscal issues, is pushing her ideas for the office.

She wants to review the state’s investment portfolio to make sure taxpayers are getting the best rate of return possible.

Under one proposal, she said changing how much state money is invested in certain kinds of funds could bring in an estimated $500,000 — an amount she admits is not huge in relation to the state’s multi-billion dollar budget.

“But every little big counts when you’re dealing with taxpayer dollars,” Radogno said.

She also said she would lead discussions to force the state to approve two-year budgets, which could lead to better long-term planning for how state money is spent.

“I have no illusions that passing that would be easy, but I think it’s a good thing to be talking about,” said Radogno, who also wants to improve efforts made by Topinka to extend low-interest loans to small businesses.

Giannoulias, meanwhile, has crisscrossed Central and southern Illinois discussing his plan to offer incentives to service station owners to encourage them to sell more ethanol at the pumps.

Both candidates agree the state could improve its college savings plan. Currently, that plan is managed by Legg Mason, which charges fees that are higher than similar programs in other states.

The Green Party candidate is Dan Rodriguez Schlorff of Chicago. He wants to reform the way the state invests its money as a way to control how much cash is available for lawmakers to use for pet projects.

“Critics of my plan say that this will cause a constitutional war in Illinois. My response? Perhaps it is time for such a war,” Schlorff states on his campaign web site.

Take a look
Illinois state Rep. Christine Radogno, the Republican candidate for Illinois state treasurer, makes a point during a debate with Democratic challenger Alexi Giannoulias, left, in Chicago on July 27, 2006. They are running for the seat being vacated by three-term treasurer Judy Baar Topinka, who is making a run for governor. (AP Photo/Charles Rex Arbogast)
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Reader comments on this story - 2 total

Note: All views and opinions expressed in reader comments are solely those of the individual submitting the comment, and not those of the Pantagraph or its staff.

Candy wrote on Oct 23, 2006 9:20 AM:

" She is not the one I will vote for. By next month who do we pick, is there anyone of them that are honest, of course not, if they was, they would not be running for office. "

me wrote on Oct 23, 2006 8:34 AM:

" Go here to learn why Blago. should not be re-elected Blahttp://www.chicagotribune.com/news/opinion/chi-0610220322oct22,1,2297018.story?coll=chi-opinionfront-hedgo. "
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