 Giannoulias himself did not make the Rezko loans.Rezko defaulted on loans made by Broadway, and, in 2006 Broadway was the first bank to foreclose on one of Rezko's delinquent loans, forcing him to declare bankruptcy.Broadway Bank also refused to cover nine bad checks written by Rezko for a total of $450,000 in early 2008

Giannoulias never accepted campaign contributions from Rezko.