Alexi Giannoulias | Democrat for U.S. Senate

U.S. Rep. Luis Gutierrez endorsed Democrat front-runner Alexi Giannoulias for U.S. Senate today, saying the State Treasurer is the only candidate that will move our country forward, put people back to work and get our economy back on track. 

"Earlier this year, Alexi helped save 1,000 jobs at suitmaker Hartmarx by threatening to pull the state investments from Wells Fargo, and late last year he helped me negotiate a settlement with Bank of America to ensure that workers at Republic Windows and Doors received the wages, vacation and healthcare they were due after the factory shut down with three days notice," Gutierrez said.

Gutierrez had planned to endorse Giannoulias Sunday in Chicago but he remained in Washington over the weekend to vote on the healthcare bill in the U.S. House.

"I am endorsing Alexi because he consistently fights for the middle class, represents people over special interests and will move our country forward by empowering working families," added Gutierrez, who chairs the Financial Services Subcommittee on Financial Institutions and Consumer Credit that oversees all financial regulators.

The news came amid Giannoulias' rollout of his Future Works America economic plan, which focuses on specific proposals to revive the economy, create jobs and prevent financial meltdowns and taxpayer bailouts in the future. He will spell out third part next week.

Giannoulias said he agreed with Gutierrez's vote against the Financial Services Modernization Act of 1999 that allowed investment banks, commercial banks and insurance firms to create institutions that were "too big to fail" and mix government-insured savings with risky investments.

"Financial deregulation in Washington and pure greed on Wall Street led to the collapse of our financial system," Giannoulais said. "Congressman Gutierrez had the common sense to vote against deregulation. Now we hope to work together in Congress to fix what's wrong with our financial sector, restore accountability and oversight to the industry and prevent these speculative binges and high-wire gambles so taxpayers aren't left footing the bill."

Giannoulias' consumer protection policies have resonated with voters and elected officials. Gutierrez joins more than 100 elected officials who have endorsed Giannoulias, including U.S. Reps. Phil Hare, Bill Foster and Mike Quigley. A recent poll shows Giannoulias beating his likely Republican opponent, Mark Kirk, in the general election.