Giannoulias raised $1.2 million in first quarter, trails Kirk

Illinois state Treasurer Alexi Giannoulias (D) turned in his best fundraising quarter of the cycle so far, but he still raised about $1 million less than GOP opponent Mark Kirk in the Illinois Senate race.

Giannoulias's campaign just announced it raised $1.2 million in the first quarter in an e-mail to supporters. It's about twice what he raised last quarter, but it pales in comparison to Kirk's $2.2 million first quarter, which the congressman announced last week.

Kirk, who faced a less serious primary challenge, is also set to be in much better financial position for the general election, as he announced $3 million cash on hand. Giannoulias's campaign has not announced a cash on hand figure, but it was burning through serious cash to make it through a primary with former Chicago Inspector General David Hoffman in February, and it had less than $1 million on hand at the end of the year.

Giannoulias beat Hoffman 39-34. Since then, the Democratic nominee has dealt with a series of problems stemming from his family bank, which is on the brink of failure and, according to the Chicago Tribune, lent $20 million to a pair of convicted felons.