New Giannoulias Ad Is Intentionally Dishonest, Says Hoffman

Accuses the Democratic frontrunner of misleading the public

By Mary Ann Ahern and Steve Bryant
|  Tuesday, Jan 5, 2010  |  Updated 4:04 PM CDT
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New Giannoulias Ad Is Intentionally Dishonest, Says Hoffman

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Democratic Senate candidate David Hoffman says his opponent Alexi Giannoulias's new campaign ad is "dishonest" and "just because he can afford to buy 30 second ads someone needs to hold him accountable."

Frontrunner  Giannoulias, along with AG Lisa Madigan negotiated a settlement with Oppenheimer for 77 million dollars, half of the money lost by Illinois parents who invested in the state's Bright Start program. 

“Alexi Giannoulias turned Illinois’ college savings program into one of the nation’s best,” an announcer says in the new commercial. “And when Wall Street made improper investments, he recovered millions for kids to go to college.”

Giannoulias points out "we were the first state to fight for money back and the first state to get a settlement" and while he would have liked even more, he doubts parents can get more if they would sue on their own. 

Hoffman has accused the state treasurer of having “purposely misled” the public about problems with the fund and failing to acknowledge “mismanagement and oversight failure” for the loss.
 

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