At a press conference before reporters in Chicago today, State Treasurer Alexi Giannoulias unveiled his financial reform platform, the third installment of the campaign's Future Works America economic plan, which we previously covered. In the video below, the Democratic Senate candidate lists his varios proposals, including the application of commercial banking regulations to non-bank lending institutions (think mortgage brokers and payday lenders) and the institution of higher capital requirements. He also proposes the creation of a Consumer Financial Protection Agency, as well as a public exchange on which derivative transactions would be conducted, and an emergency bailout fund bankrolled by firms deemed "too big too fail." Watch it:

Giannoulias began the press conference by recounting how the repeal of the Depression-era Glass-Steagall Act (which segregated commercial and investment banks) contributed to the financial crisis. "The removal of the walls between commercial banks and brokerage houses led to the creation of companies that were too big and intertwined to fail without taking the entire economy down with them," he said. "This deregulation has had a crippling effect."  Yet his plan (which you can read in more detail here) didn't go so far as to call for the restoration of some form of Glass-Steagall, as Rep. John Conyers (D-MI), former Federal Reserve Chairman Paul Volcker and former Citigroup chairman John S. Reed have recently done. 

Giannoulias also took questions regarding Broadway Bank, which his family owns and where he worked before becoming state treasurer. Greg Hinz covers his responses. Meanwhile, here's a quick rundown of some of the other issues discussed:

Thomson: When asked about the proposal to transfer Guantanamo detainees to Thomson Correctional Center, Giannoulias quickly denounced what he characterized as Rep. Mark Kirk's "scare tactics" about the plan. He also emphasized that the National Security Council briefing he received, which the GOP has raised questions about, was conducted at his request in his role as a statewide constitutional officer. On the merits, he reiterated his support for the proposed transfer.

Afghanistan: Yesterday, fellow Democratic contender Cheryle Jackson posted an online petition on her website calling for a total American troop withdrawal from Afghanistan. Giannoulias wouldn't go that far, saying he "didn't want to get into a numbers game." But he did come out against sending 40,000 or more additional troops to the central Asian country, especially given the "rabid corruption" of the Karzai government.  (Incidentally, President Obama is said to be preparing a plan to send 34,000 more troops over.)  Giannoulias said he hopes the U.S. takes a "a more integrated" approach going forward, focusing more efforts on training local police and military officers while investing in infrastructure and schools for civilians.

Bright Start: While still hesitant to tip his hand, Giannoulias said that state was "very, very close" to reaching a settlement with Oppenhemier Funds to refund most of the $85 million lost by Illinois' Bright Start college savings program last year. "I'm hesitant to say days," he said, "[but] I'd say within weeks. I feel pretty confident."

In other Senate race news, Democratic candidate David Hoffman accepted the endorsement of several Latino leaders today, including Chicago City Clerk Miguel Del Valle and State Rep. Lisa Hernandez.  From a press release:

"David Hoffman stands out in this race, he combines the progressive values that will move this country forward with a record of independence and integrity," said del Valle.  "He will stand up to the special interests and fight to reform health care, education, and the banking and financial services industry."

Hoffman also recently sat down -- for the second time -- with local talk show host Jeff Berkowitz.  You can watch the half-hour interview here.

Full Disclosure: The SEIU Illinois State Council, which sponsors this website, has endorsed Alexi Giannoulias in the Democratic primary for U.S. Senate.