Giannoulias on the Defensive

In the Illinois Senate race, Democratic candidate Alexi Giannoulias launched an effort Wednesday to address questions about his work at his family's bank amidst reports of loans to corrupt officials and the mob.

Alexi Giannoulias is officially on the defensive. On Wednesday, he launched a website called truthaboutalexi.com in a desperate attempt to address allegations relating to his time as a senior loan officer at Broadway Bank, as well as his oversight of the Bright Start College Savings Fund.

Giannoulias also did the rounds of Chicago media. Giannoulias told the Chicago Sun-Times editorial board that it is "quite likely that the bank will not be around" by the time the November elections roll around. But he denied making any “reckless or risky loans.” He attributed the bank’s financial situation to the collapse of the housing market.

The Giannoulias campaign is aiming to blunt the attacks being lobbed left and right by his opponent, Mark Kirk questioning Giannoulias' ties to corrupt officials, the mob, and ultimately his competence. On Tuesday, Kirk's campaign circulated a memo entitled: "Mounting questions surrounding Alexi Giannoulias' risky lending practices take center stage in Illinois Senate race."

Going on the defensive may backfire for the Giannoulias campaign. By addressing the so called “smear” attacks, Giannoulias is sending the message that they are credible enough to be addressed in the first place. In particular, the Kirk campaign will ask why, if the charges are so outrageous, the Giannoulias campaign needed to launch a website specifically designed to debunk them. If Giannoulias doesn't find a way to answer these questions convincingly, and soon, he will almost certainly lose.