Posted on 09/17/2008 11:29:30 AM PDT by Renfield
...Penny Pritzker, Obama's national finance chair was, with her family, the half owner of Superior Bank, which was shut down in 2001 by the FDIC after it had lost nearly all of its more than $2 billion of assets on bad loans to high-risk borrowers, federal regulators said.
Pritzker has avoided media attention over the past week as reporters covering the Obama campaign sought comment on the Fannie Mae and Freddie Mac debacle.
Pritzker also served as finance chair for Obama's Senate run, and supported him during his time in the Illinois state legislature.
One reason Pritzker may have been enamored with Obama was his willingness to press legislation that loosened state regulatory policies for land developers and multi-family property owners......
(Excerpt) Read more at spectator.org ...
From all that I can tell about the Big “O”, he is just a socialist crook. This is what socialism breeds, crooks. He’s not a nice guy if he tried to delay our military schedule for getting out until he could (he thought at the time) assume office. SO puzzling, given how much he CARES about getting the war lost and over.
Thanks for posting this. The Obama campaign has done a good job of hiding Pritzker, heir to the Hyatt Hotel chain.
This is very frustrating for our side. We cannot seem to get these thing out there in the mainstream.
I am still predicting that October will be the time when this all starts to hit Obama. Too bad Fox News has been neutered by Rupert.
Posted on this last night: http://www.freerepublic.com/focus/f-news/2084061/posts
Obama’s Finance Chair, Penny Pritzker (Pioneer of Sub-Prime Mortgages!!)
Let’s meet Barack Obama’s Finance Chairperson, Penny Pritzker.
We all know that Barack Obama hangs out with some interesting people and Penny Pritzker is no exception. I thought you might like to know more about Penny Pritzker and the closing of Superior Bank, which was owned by the Pritzker family.
The Pritzkers are one of the nation’s wealthiest families and heirs to the fortune created by the Hyatt hotels. Yes, Penny is a billionaire. So basically, Penny could squash me like a bug right now for writing this.
Among their other endeavors, the Pritzkers were the owners of Superior Bank in Hinsdale, Illinois when it was seized.
Yes, I did say seized.
Penny Pritzker, Barack Obama’s great Chicago (of course!) friend was a pioneer you might say! She was a failed subprime lender who set the tone all the way back to 2001. She did it before it was even in style.
Quote: At the time of this seizure, it was determined that Penny Pritzker and her family owed $460,000,000 to the Federal Government. Yes, that’s right folks. Nearly a half a billion dollars. Gee, i wonder if that’s all paid back yet, don’t you?
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http://gdaeman.blogspot.com/2008/02/who-is-penny-pritzker-and-why-is-she.html
And from this site.
an investigative report into Penny Pritzker, the Obama campaign finance chairman. She and her family were central to the innovation known as “Mortgage Backed Securities,” which are now at the center of the financial crisis and real estate melt down.
Pritzker is one of the most active of celebrated Chicago patriarch Abraham N. Pritzker’s 12 living grandchildren. A Harvard-trained attorney, Pritzker, 46, was chosen by her late uncle Jay to help oversee the family’s vast portfolio of investments, including the Hyatt hotel chain and the Marmon Group industrial conglomerate. (Forbes Lists 2005)
One reason we don’t hear the Clinton campaign raising this as an issue is because Penny’s brother has apparently been playing a spokes-person role in Hillary’s campaign. Reminds me of Enron buying off both Republicans and Democrats, along with accounting firms, the media, law firms, regulators, ....
Don’t get me wrong. After Edwards dropped out I shifted my support to Obama, in as much as I support dismalcrats. But, if Barak Obama was smart, he’d thank her for her services and quietly let Penny Pritzker go.
The Pritzkers arrayed a powerful and well-connected legal team including former President Bill Clinton’s impeachment lawyer Lanny Davis, two ex-comptrollers of the currency, and two former General Counsels to the FDIC, the American Banker Magazine reported.
http://www.mindfully.org/Reform/2008/Obama-Pritzker-Subprime28feb08.htm
Franklin Raines, the charlatan who kept funny books at Fannie Mae and paid himself $100,000,000 for doing so during the Clinton years, is also a top financial adviser to Barry. Talk about gall, Barry has buckets of that when chastising McCain’s Washington connections.
$460,000,000 OWED to OUR GOVERNMENT and he is Obama's FINANCIAL DIRECTOR?????????
OMG!! Think what he and his advisors are going to do to our country that they haven't done already!!!!
And FRANKLIN (100 MILLION DOLLARS BONUS) RAINES of Fannie Mae is his major FUNDRAISER!! Good freaking grief people!!
What do we know about SUPERIOR BANK seizure by the FEDS??
Franklin Raines should be in PRISON!!!!
If I recall one of Obama’s men tasked with finding a VP was the past Recent) CEO of Fannie Mae. He got a $27,000,000 bonus for running that institution into the ground and putting it in the lap of the taxpayers. Do we need that kind of advice to President Obama making decisions for the country?
Superior Bank ping
bump
Your post with the unlinked full text Washington Post article, and the unlinked Chicago Tribune article which also was not excerpted had to be removed because it violates Free Republic’s copyright rules.
thats funny because last I checked it was a bipartisan effort to take over fanny and freddy and AIG with the Republican administration taking the lead. Don’t talk about socialism like it’s an Obama thing.
Last I checked Hugo Chavez and his country were doing just fine. Like the unrestricted free markets of capitalism aren’t what got us here? too funny
what exactly is mainstream and why is it even needed anymore? I get my news from the source, which is the great thing about the internet. Go get your facts with an unbiased slant, you may be surprised what you learn.
Wherever socialism is tried and has total free reign, it degrades people and makes serfs out of them. New Orleans and every major city where the communist pigs have total control, life becomes a cesspool of welfare dependent slaves to a certain “voting” requirement in order to stay on the dole. - When the emaciated sow has more suckling pigs at her teats than she has productive, independent piglets weaned from the teat, how long before one day “Atlas” seriously shrugs?
Oh, and living under the “leadership” of Hugo Chavez, the dictator is “doing just fine”? We’ve been doing just fine and are the GREATEST COUNTRY ON THE FACE OF THE EARTH, and have been for over 200 years. I’m sure Hugo would welcome anyone who would bad mouth America to come live down there.
His blatherings are Hitlerish in tone. Scary.
No. We do NOT need the corrupt and mysterious, inexperienced in everything but TELEPROMPTER Obama or his crooked cronies running this country! - The TRUTH about him must be presented and, God willing, it will be.
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