Month: August 2022

While businesses leave in droves taking thousands of jobs with them, business is booming for J.B. Pritzker. This morning it was revealed by the Better Government Association (BGA) that Governor JB Pritzker’s “blind” trust has the governor’s money in at least a dozen companies with billions in state business.

“A BGA investigation of Pritzker’s holdings — including an examination of his annual economic interest disclosures, thousands of pages of state contracts, corporate filings with the U.S. Securities and Exchange Commission and the Illinois secretary of state and gubernatorial email communications — shows at least 12 cases large and small in which the governor’s office and the agencies he oversees took action that created a potential conflict of interest for Pritzker,” said the report, “Pritzker’s staff and his campaign office refused BGA requests to provide basic financial reports — full tax returns, a copy of his blind-trust agreement or a detailed accounting of his personal holdings. Pritzker also won’t say when he bought any of the stock or at what price.”

What’s worse is that this isn’t the first time that the investments of Pritzker’s so-called “blind trust” have come under fire.

“Governor Pritzker’s repeated lack of transparency is disturbing. The Governor needs to answer why he has failed to avoid financial conflicts by not telling his trust managers to refrain from investing in state contractors. The Governor, or his trusts, should release all correspondence and documents pertaining to any companies in his ‘blind’ trust that have done business with the state since he became Governor. To do otherwise would be a disservice to the voters of Illinois and to honest and transparent government,” said Illinois Republican Party Chairman Don Tracy.

According to Forbes, Pritzker is worth $3.6 billion, already making him the “richest politician in the U.S.”

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Former Illinois State Treasurer Alexi Giannoulias just can’t seem to shake his past as he attempts his reboot. It’s been twelve years since Giannoulias left the public eye. As he continues his rehabilitation tour hoping voters will forget about his scandal-laden past, let’s recap his greatest hits.

First, there was his mismanagement of Illinois’ college loans savings programs, causing families to lose millions. According to NBC Chicago from January 6, 2010:

Bright Start was supposed to be Alexi Giannoulias’ shining achievement. Instead, the beleaguered fund, which lost more than $150 million through risky Oppenheimer investments, is radiating trouble for the Illinois State Treasurer and his Senate campaign.

Then, there were the loans to mobsters when he was a Senior Loan Officer of Broadway Bank. According to the Chicago Tribune from April 1, 2010:

The family bank of Democratic Senate candidate Alexi Giannoulias loaned a pair of Chicago crime figures about $20 million during a 14-month period when Giannoulias was a senior loan officer, according to a Tribune examination that provides new details about the bank’s relationship with the convicted felons. Broadway Bank had already lent millions to Michael Giorango when he and a new business partner, Demitri Stavropoulos, came to the bank in mid-2004. Although both men were preparing to serve federal prison terms, the bank embarked on a series of loans to them.

As if that wasn’t bad enough, Broadway Bank was later seized by the feds. According to Reuters from April 23, 2010:

Regulators on Friday seized a Chicago bank owned by the family of the Democratic nominee running for the Senate seat once held by President Barack Obama. Broadway Bank was among seven Illinois banks whose failure was announced on Friday. U.S. regulators have seized 15 banks in the past two weeks, as the Federal Deposit Insurance Corp ratchets up efforts to clean up the banking industry.

“Trouble seems to follow Alexi Giannoulias wherever he goes, and it never seems to be his fault if you ask him,” said Illinois Republican Party Chairman Don Tracy. “The Giannoulias family bank loaned money to mobsters when he was a Senior Loan Officer there, and Giannoulias as Treasurer lost millions in college savings loans. Putting Alexi Giannoulias in charge of the Illinois Secretary of State’s Office, where he’d be in charge of 4,000 state jobs, would be like putting an arsonist in charge of the fire department.”

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Illinois State Treasurer Mike Frerichs’ office failed to provide  proper accounting for more than $1.6 billion in state fund deposits according to a report by the Office of the Illinois Auditor General. 

On page 142 the report states:

“The Office of the Treasurer (the Office) had inadequate internal controls over the Office’s Fiscal Officer Responsibilities financial statement adjustment process. During testing of the Statements of Assets and Other Debits, Liabilities and Accountabilities (financial statements), it was determined the Clearing Account Deposits and Deposits in Transit as well as the Agencies’ Deposits Outside the State Treasury accounts were each understated by $1,635,711,097.”

Rather than taking responsibility and addressing the mistake head on, Frerichs’ office said the finding was because of ‘incomplete information given to our office,’ according to Center Square.

“Treasurer Frerichs continues to blame other people for his offices’ mistakes proving that he is not the leader we need to bring financial accountability to Illinois’ reckless tax-and-spend government,” said Illinois Republican Party Chairman Don Tracy. “Frerichs has proven that not only is he a reliable lapdog for J.B. Pritzker’s tax-and-spend agenda, but that he can’t be trusted to manage public tax dollars. Republican Candidate for Treasurer Rep. Tom Demmer is the true financial watchdog Illinois families need and deserve.”

This is not the office’s first financial mishap under Treasurer Frerichs’ watch. As families face rampant inflation and record gas prices, they’ve also been hit hard from Frerichs’ mismanagement of the State’s college savings programs – which have lost millions of dollars in student college savings this year. 

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J.B. Pritzker has spent his entire term as Governor ignoring rising crime in Illinois’ largest cities. It’s only fitting that on the final day of his “Think Big” bus tour he’d visit Rockford – a city hit hardest by one of the biggest failures of his governorship.

In 2021, the media reported Rockford was ranked the 17th most dangerous city in America and now violent crime, auto theft, and robbery continue to be on the rise. Meanwhile, like businesses and families across our state, people are leaving Rockford in droves as a result of Pritzker’s failures.

“J.B. Pritzker has been a disaster for working families all across Illinois. Under Pritzker’s watch, he has time and again chosen to empower violent criminals over Illinois families. The so-called “SAFE-T Act” implements Chicago’s failed cashless bail policy across the state and will ensure more criminals are back on our streets. Pritzker’s message has been clear, business in Illinois is only booming if your business is crime. Meanwhile, job creators and residents continue to flee the state,” said Illinois GOP Chairman Don Tracy.

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Springfield, IL – Last Thursday, Illinois Republicans from across the state gathered for Republican Day at the Illinois State Fair in Springfield to support Darren Bailey for Governor and Stephanie Trussell for Lieutenant Governor, Kathy Salvi for U.S. Senate, Dan Brady for Secretary of State, Tom Devore for Attorney General, Shannon Teresi for Comptroller, Tom Demmer for Treasurer, and Republican candidates up and down the ballot and across the State of Illinois. 

“We’re energized, we’re excited, and we’re ready to get to work to restore Illinois from the damage and corruption brought by the Pritzker-Madigan machine. While J.B. Pritzker is focused on running for President, we’re going to take our message right to the voters up-and-down the ballot and across every corner of Illinois. Republicans are the party of law-and-order, lower taxes, reliable and affordable energy and food prices, and fiscal sanity. This November, we’re going to elect leaders who will fight against corruption, keep our communities safe, and return fiscal responsibility to state government,” said Illinois Republican Party Chairman Don Tracy.

Four former rivals for the Illinois Republican Governor nomination joined together in a show of unity with Illinois Republican Party Chairman Don Tracy on Wednesday night. Thursday afternoon, Republican candidates for office this fall assembled on the Director Lawn at the State Fair to make their case to restore Illinois.

Read the Highlights from Republican Day Below…

“Enough of JB Pritzker’s out-of-control crime. Enough of JB Pritzker’s forever gas tax hikes. Enough of the hypocrites like JB Pritzker who avoid paying their own property taxes while increasing ours. Enough of the lockdowns that bankrupted small businesses and left our children behind. I may be a little rough around the edges, but I will work for YOU because I’m just like you. And friends, I can promise you this, no one will work harder for YOU.” – GOP Governor Nominee Darren Bailey

“Working families have lost wages, the right of conscience, and they have lost faith in our institutions. We are going to beat JB Pritzker because Darren and I represent a real alternative to the status quo politicians who are the architects of our state’s decline.” – GOP Lieutenant Governor Nominee Stephanie Trussell

“Let’s make it easier to vote and harder to cheat. I will be a Secretary of State that is a hands-on leader, helping to provide staff the resources and training they need. Together, let’s make the Secretary of State’s office about public service and above party politics.” – GOP Secretary of State Nominee Dan Brady

“Let’s talk about crime. The people of our urban areas are scared. They’re scared to leave their houses. How are they ever to have opportunity and to succeed in this great state if they’re scared to leave their house?…What does Kwame Raoul do? Nothing. You think he’s going to go against the Democratic machine? No. You make me Attorney General and if Kim Foxx won’t prosecute ‘em, I will.” – GOP Attorney General Nominee Tom DeVore

“Year after year, [Mike Frerichs] supported constitutional amendments to raise your taxes. In 2020 he went around Illinois with J.B. Pritzker and they spent $60 million to try and convince, to threaten, or sometimes bully taxpayers into approving their $3.5 billion tax increase – but Mike Frerichs took it a step further. He said one of the reasons he supported that tax increase was because we could use it to tax retirement income in the State of Illinois. As if we need another reason for seniors to leave our state – but you know what, voters said no. Republicans led the charge, and Republicans and Independents, and Democrats rejected that $3.5 billion tax increase. They rejected that retirement tax and they said enough is enough. I’m running for State Treasurer because I will stand up for you. I’ll fight against those tax increases. I’ll say no to the retirement tax and I won’t be afraid to call out the games and the gimmicks they play with the budget every year.” – GOP Treasurer Nominee Tom Demmer

“During my time as the McHenry County Auditor, I have rooted out waste, fraud and financial abuse. Mendoza doesn’t have that same track record. Since she has been Comptroller, Illinois has become the most taxed state in the Nation and corruption continues to skyrocket!” – GOP Comptroller Nominee Shannon Teresi

“Tammy Duckworth votes with Joe Biden 100% of the time. If two people vote the same way 100% of the time, one of them isn’t needed. It’s time to fire Tammy Duckworth.” – GOP Senate Nominee Kathy Salvi

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