Posted on 10/02/2008 9:16:59 AM PDT by 54skylark
We are all now focused on Obama's financial industry bedfellows, who are running his campaign. Here is a story that the main street media (aka Obama protective press) will not cover. His national chairperson, senior advisor on economic issues, and close personal friend rumored for a cabinet post or senior advisor in an Obama White House is Penny Pritzker.
• Penny Pritzker through her development of Superior Bank utilizing accounting firm of Ernst & Young and close personal business relationship with Merrill Lynch developed and pioneered the securitization of sub-prime/predatory loans. Using Pritzker reputation convinced rating agencies to give junk bond collateral investment grade status. There by making bonds available to nationwide tax payers backed pension funds (Fireman, Policemen & Teachers) Along with international pension funds which has now accumulated into the greatest credit crunch loss of personal individual wealth of every citizen in America. An economic tsunami that will affect the citizens of all 50 states.
• Pritzker running of Superior Bank in 2000 the National Community Reinvestment Coalition stated to the director of Thrift Supervision, Superior was the number one preditory lender in the land. Targeting the African American community more than two times to other preditory lenders.
• Pritzker assured that excess deposits over the FDIC insured ($100,000) were safe because the Pritzkers would not let Superior fail. Fran Sweet (a depositor in Superior Bank who deposited more than $450,000) was given the Pritzker commitment that her money was safe.
• Penny negotiated with the FDIC that her family would participate in a recovery of damages settled with Ernst & Young with the FDIC. The Pritzkers share was a money transfer of $31.5 million dollars while the 1400 uninsured depositors still are owed approximately $16 million dollars Fran Sweet and the estate of deceased depositors will never see all of the money, while Penny and her family got their dividend from the FDIC ahead of uninsured depositors.
• John McCain may own many homes, the Pritzkers own many more plus luxury hotels and casinos all over the world. While tens of thousands have lost or fighting to save their single homes from the underwriting practices of the now failed Pritzker owned Superior Bank.
• Barak Obama’s personal friend and economic advisor Penny Pritzker runs Transunion Corp the largest of three credit reporting bureaus in America. In theory she has at her disposal the credit files of every citizen in the America, and given the corruption on Wall Street today can America afford to have Pritzker sitting at an Obama’s economic table.
Work referenced by Tim Anderson retired banking industry consultant from Libertyville, IL. who has written economic papers on failed thrifts and has spent over 6 years researching the issues related to the failure of Superior Bank FSB that was given to the Pritzkers and business partner in 1988 for a $2 million dollar cash investment on their part with simultaneous saleable tax credits.
Mention this to Alan Colmbes. He can spin this person out of the circle too. Every time Sean brings up a name and shady business deal, Alan spins and spins it.
"With The Best Of Intentions"
Children, what is the road to Hell paved with?
L
I offer this instead:
Obama Overprotective Press Surrogates (OOPS)
Please post all your connections re this vile creature from hell and her elite liberal family members.
Thanks
I smell another McCain in the works!
If this is your original work, way to go.
That bank shut down in 2001 so it’s not really relevant to the situation today. Harold Raines is a better angle of attack in my opinion.
bookmark
I respectfully disagree...
Tell Fran Sweet that who lost her life savings while Pritzker walk away with 31.5 Million!!!
Reference Points
Tremors in The Empire
http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/
Breaking the Bank
http://www.inthesetimes.com/article/671/
The Power of Penny Pritzker
http://www.bloomberg.com/news/marketsmag/mm_1008_trim1.html
“...That bank shut down in 2001 so it’s not really relevant to the situation today. Harold Raines is a better angle of attack in my opinion...”
She’s Obama’s sugar momma. It is relevant.
“She’s Obama’s sugar momma. It is relevant.”
It’s relevant in as much as his campaign finance chair has been involved in shady financial situations but my point was it’s hard to tie to the current crisis which is where we need to focus. People won’t give a damn about what happened in 2001, they care about now and we need to convince them it’s the Dims fault.
Here’s another thing people should consider. If Hussein becomes President, his term will be mired in legal proceedings and investigations. It’s going to be Clinton all over again.
There are no wrong-does who are registered Democrats, or hadn’t you heard?
Thank you for putting this altogether and writing about Ponzi Penny.
Among the many scandals available for picking in this mess- one of the most dangerous is the lack of above-the-fold coverage in our major newspapers or tv about how we got here and by whom we were led.
The comparison with Enron is unavoidable. Corporate greed and corruption was front and center- covered relentlessly by the cables, The NYT, WaPo and the rest. Within a day we heard names being named- investigative pieces written and plenty of rhetoric spewed.
Consider the amounts of $ involved in this is many times greater than Enron- and is affecting the entire country and world. And yet...do we hear names like Pritzker, Gorelick, Johnson, Raines, Frank and Dodd anywhere but on the right?
Good point. I have flip flopped on my former position.
;-)
Hear hear !
And a LACK of attacks by McCain and his campaign!
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