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Tuesday, May 05, 2009

Election 2010 | Giannoulias Runs Into $26,000 Pothole

Illinois State Treasurer Alexi Giannoulias, who is considering a run for U.S. Senate in 2010, spent $26,000 of the state's Bright Start college savings funds to purchase an SUV for use by his office, including himself.

On Monday, Giannoulias defended the purchase by saying the expense is a reasonable operating expense because it's used at times to market the Bright Start program, although his office could not explain how much it was used for marketing and how often it was driven by Giannoulias.

Records show the college savings investment the treasurer's office oversees lost $85 million last year.

2 comments:

Anonymous said...

Any bright start money is held in trust for the depositor, and subject to fiduciary restrictions on use. His use of people's deposit money is even worse than if he had used taxpayer dollars. Why is the government in the banking business anyway. And why is the government in the "marketing" business.

Anonymous said...

OMG, Giannoulias' argument that he uses the vehicle for the Bright Start program is extremely tenuous, at best! Why do I not see this story anywhere on the Tribune website?