Daniel Halper has the scoop on the latest problem for Alexi Giannoulias — banker for the mob, whose financial acumen led to a takeover of the bank by the feds. Halper explains:

Giannoulias is currently the state treasurer of Illinois. And, according to his official website, “He founded and chairs the AG Foundation, a not-for-profit charity that donates money to treat child-related illnesses, curb poverty and assist disaster relief organizations.” … The problem is, the charity no longer exists. According to the AG Foundation’s tax return, “The organization was in existence only for the two-year period from 2005 to 2006.”

In an election season driven by voter disgust with politicians, their misstatements and ethical problems are especially toxic. This just adds to the problem Giannoulias faces in convincing the voters that he’s not another sleezy pol. And by the way, with the Blago trial getting underway in Illinois, that may be even harder to do in the weeks ahead.