Barack Obama’s Finance Chairwoman And The Seized Superior Bank
By Uppity Woman on April 4, 2008 at 4:15 PM in Bamboozling, Barack Obama, Current Affairs, FDIC, Penny Pritzker
In a previous post, I referred to Barack Obama’s interesting relationship with Wall street, Bankers and Sub-Prime lenders. I also mentioned 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.
Here’s a Press Release from the Office of Thrift Supervision, Bureau of the US Treasury:
OTS Closes Superior Bank FSB; Hinsdale, Ill. Thrift is Insolvent
WASHINGTON – The Office of Thrift Supervision (OTS) closed Superior Bank FSB, Hinsdale, Ill., today and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The FDIC transferred the insured deposits and substantially all the assets of Superior Bank into a newly chartered, full-service mutual savings bank, known as Superior Federal, FSB, which will open for business on Monday morning. All depositors of Superior Bank automatically become depositors of Superior Federal, and will have immediate access to their insured funds. All 18 of Superior Bank’s Chicago metropolitan area offices will open for business Monday and will continue to offer full banking services, including online banking. Superior Bank’s loan production and servicing operations will also continue to operate normally.
OTS used its authority under the FDIC Improvement Act of 1991 to close Superior Bank when it found that the bank remained critically undercapitalized — that its tangible equity capital was less than two percent of its total assets. The bank failed to implement a capital restoration plan that it submitted to OTS on May 24 this year.
Superior Bank suffered as a result of its former high-risk business strategy, which was focused on the generation of significant volumes of subprime mortgage and automobile loans for securitization and sale in the secondary market. OTS found that the bank also suffered from poor lending practices, improper record keeping and accounting, and ineffective board and management supervision.
Superior became critically undercapitalized largely due to incorrect accounting treatment and aggressive assumptions for valuing residual assets. The bank also experienced significant losses during 2000 from its automobile lending program.
OTS has determined that Superior Bank is insolvent, having incurred losses that have depleted all or substantially all of its capital. OTS also determined that Superior Bank was no longer able to transact business in a safe and sound manner.
OTS notified the bank of its serious concerns in July 2000. The bank was purchased by two families in 1988 — the Pritzker family of Chicago, owner of Hyatt Hotels and other interests, and the Dworman family of New York, with interests in real estate and financial services activities — and was operated through a complex network of holding companies.
In light of these findings, OTS determined that closure and the appointment of FDIC as receiver were necessary to protect the interests of the bank’s insured depositors.
As of March 31, 2001, the failed bank had total assets of $1.9 billion and total deposits of $1.5 billion. FDIC insures depositors’ accounts up to the statutory limit of $100,000.
Superior is the only bank that OTS has closed in 2001, and only the fourth OTS-regulated institution closed in the past five years.
The FDIC has established a toll free telephone number for customers of Superior. That number is 1-800-331-6306, and will be available until midnight tonight and then from 7 a.m. to 7 p.m. daily thereafter.
I thought you might also like to hear an interview with one of Penny Pritzker’s victims and how this bank closing affected her life. You will also hear her reaction to the thought that Barack Obama would hire Penny Pritzker as his campaign Finance Chair, not to mention her horrified reaction to the thought that Ms. Pritzker might one day be “Secretary of the Treasury”. If “Play” doesn’t work, Click in MP3 Stream link. Buckle your seat belt first, please. This woman does not spare details and is not in a good mood. I suppose I wouldn’t be in a very good mood either if I lost my savings to Penny Pritzker.
I guess the main stream media didn’t think this Petty little Penny Pritzker Problem (say that three times fast) was important enough to look into.
Additional links on this bilking of innocent people:
NY Times, December, 2001
FDIC Failed Bank Information - Superior Bank
OTS Closes Superior Bank FSB; Hinsdale, Ill. Thrift is Insolvent
OTS Announces Resolution of Charges Against Auditor of Closed Superior Bank FSB
And please visit my blog:
(small, medium and large sizes; for both dogs and cats)
+ 
…hold your nose and vote for McCain. At least I know he has never behaved in a sexist fashion…
Hey Uppity, what does your hyper education tell you about this?
[DELETED BY ADMINISTRATOR -- PEDDLE YOUR NASTY JOKES ELSEWHERE -- SusanUnPC ]
It tells me your IP address.
Laughing too hard to type
Ha! Ha! Aaaahhh…..That was fun….
that was witty.
That guy sure surrounds himself with shady people.
It tells me your IP address.
So what? Is posting evidence of McCain’s misogyny such a problem for you?
What you and other Obamabots won’t get is plenty of us would vote for Dracula before we would vote for Barack Obama. How hard is this for you to understand? I realize that you Obama folks want to tell me and everyone else what I want to do and that you have decided I will fall at his feet should Dean fix this nomination for him before Florida and Michigan get either counted or recounted, but you see, it’s not going to happen. I’m not voting for the guy. He could knock on my door and ask me personally and I still wouldn’t do it. I’m a female Garlic Nose. There are a lot of us. He doesn’t care if we vote for him anyhow, since the only part he has for us in his plan is disinfranchisement anyhow.
Now, I was wondering, how do you feel about Penny and the Superior bank. Let’s pretend you are a presidential candidate. Would this be a person you would want on your campaign when so many of your own personal poor and middle class constituents have been ripped off by her? Would you think that maybe either your judgment or your character might come into question to those who knew about Superior Bank?
I was disgusted by that remark, though, too, Clinton was just a child when McCain told that joke to warm up a Republican audience. I thought it showed abhorrent judgement on his part, indicative of his character, attacking a child simply to induce a “hey, don’t we all hate the Clinton’s? Let’s cement our bond by attacking their child” adolescent bonhomie. I decided then I’d never ever vote for him. It matters, for so many reasons, least of all one must be so infantile, an old man attacking a child.
I’m thinking if Obama gets the nod, (and really, the Democrats would be out of their minds to support this guy, but, ultimately, I think most of his support comes from those mediocre, thick headed Wall Street money people, the ones dictating the news coverage), anyway, I’ll write in a candidate, and vote anti Obama, down ticket.
BTW, Chelsea Clinton is beautiful, a well adjusted, brilliant young woman, who, should she ever decide to go into politics, would serve her country well, I would venture.
And really, when I look at the characters of Hillary, and Bill, I look at Chelsea, too, and I think they must have done something right, they must have values, somewhere.
Now, I was wondering, how do you feel about Penny and the Superior bank. Let’s pretend you are a presidential candidate. Would this be a person you would want on your campaign when so many of your own personal poor and middle class constituents have been ripped off by her? Would you think that maybe either your judgment or your character might come into question to those who knew about Superior Bank?
You’re right. There is cause for concern with these Pritzkers. I wonder if you are aware of Pennies brother Jay. Here’s some more recent information illustrates just how hard it is to find a candidate without serious flaws.
May 14, 2007 Chicago Tribune
As sister and brother, Penny Pritzker and Jay Robert “J.B.” Pritzker have fought over everything from toys to how to divide a family fortune worth billions.
Now they are going head-to-head in politics, with the Democratic presidential nomination as their battleground. One is leading the fundraising for Sen. Barack Obama, while the other has a new alliance with Sen. Hillary Rodham Clinton.
In an interview Sunday, J.B. Pritzker said he would become the national chairman of Citizens for Hillary, a new campaign initiative that will be charged with grass-roots outreach, fundraising and policy matters.
Did she hire him, or is he doing this of his own accord?
No matter what arguments Obama trolls try to bring up in the name of “Clinton does it, too” no one carries the special stench of Obama’s IL corruption quite like Obama, no one.
Some people fall into corruption, or are surrounded by it, the defense attorney for Rezko asked Stuart Levine, yesterday, if he had been willfully criminal his whole adult life and Levine answered “yes.”
I think the same is true of Obama.
Yes I was actually WAITING for you to bring that up in true Obama style. It’s actually in one of my links. Did you imagine I didn’t see it?
After all, Penny Pritzker personally (say that three times really fast)bilked a thousand innocent people and had her bank seized, but her brother would have to become the issue because he doesn’t support Baby Jesus. Penny and brother Jay don’t get along so well. I probably wouldn’t get along too well with her either. I suppose he knows even more about her than we do.
Oh and I have no idea if he is hired or just a volunteer supporter. It wouldn’t make him the blame for what Penny did in any event, try as anyone might.
Rezko and Obama spent a weekend at the Penny Pritzker’s prior to him running for senator.
$$
Muppity, you would do well to verify before accusing siblings of guilt by association…
…unless you have a verifiable story?
My siblings and I do things that are not even close (computer installs / graphic arts / legal secretary). One pair of my cousins who are siblings were a CIA op, and a tire dealer. Then there’s Neil Bush. While G.W. and Jeb play politics, Neil sells self-contained media presentation machines, painted like a cow, to school districts.
They won’t listen, Uppity. It is sad that his supporters can’t see what we are seeing and hearing. The fix is already in. They call it “Pelosi Club” now. Apparently, Pelosi is arm twisting undecided SD and most will move after PA even if Hillary wins big. Hey, me, my family and friends will never vote for the phony.
I predict that after the party nominates Obamessiah and it implodes due to the weight of hiearchical hypocrisy, Obamessiah’s followers will
be desolate as they watch as the empty suit is crushed by their former friends ( cross over independents and democrats for a day ), OBAMEDIA, and the other 2/3 of the former democratic base who are tired of fixed elections and voter disenfranchisement. They will be left to wonder, What happened to Obamessiah ? He will return to the political side lines exposed for what he is an overated poser. There will open series of rehab centers across the nation to deal with a new sydrome related to Obadeflation and the blame will be laid at the feet of all those typical white people who for some insane reason just couldn’t stomache a candidacy that reeks of corrupting associations and chicagorules political at all costs bullying. Obama will make millions with each new inspirational book and who knows maybe Oprah will give him his own T.V. channel. Meanwhile, Bloomberg and the third bi-partisan party will get the democratic working class as a new base, because where else can any sincere centrist type go ?Obamessiah ain’t no MLK, JFK or RFK and I get fed up with the allusions to granduer that aren’t earned by words or actions.
LOL I hear that!!
I won’t be voting for him either no matter what.
And I’m not even a special garlic nosed woman, just a “typical white woman” :-/
darn
I agree with you totally!!!!!
abc has a tapper article where harry reid is saying that the toll on obama and clinton will be over five minutes after the nominee is decided, which will be by july 1. he clearly means to tell us that obama will be selected by july 1 and he thinks we will just fall in line.
he may or may not be right about obama being selected. and he may or may not be right about when.
he is oh so wrong about us falling in line. like you, i would vote for dracula over obama. actually, i would vote for ronald reagan’s corpse over obama. i would vote for richard nixon’s corpse over obama. i would vote for pat nixon’s corpse over obama. so voting for mccain over obama will be easy.
obamaites understand yet?
Uppity,
I’d love to purge those people from public life.
Did you know her brother supports Hillary?
How do you feel about that?
He may have a role in her campaign. Not sure.
thank you for this post Uppity. I have been concerned about Pritzker’s involvement, I am sure they expect BO to waive the debt the family owes the govt FDIC after the taxpayers bailed out the bank
the talk of new politics and no involvement financially with big interests.
it is such a sham
It’s only $460 million, Gina. Chickenfeed. Why that would feed how many urban poor for how long? How much health care would it buy for those 47 million who don’t have any?
This, along with other people he surrounds himself with, is a matter of one of two things for Barack Obama. He either has very poor judgment or his own character is questionable.
Wow this lady lost 400,000.00 and the Pritzker are worth something like 39 billion. She goes on to say that 1406 people lost money when the bank went under.
If this isn’t criminal it certainly ought to be. The clip goes on to say that they (Pritzker) were told by the Feds not to offer those high interests, but they did anyhow.
So where did the lady’s 400,000 go, bad, subprime loans.
How come the Prizkers could donate 30 million after that happened, what about the people they owe money to?
Even if BO wasn’t in the equation here, it is so obvious that the government is all about protecting the wealthy bankers and not the people that bank with them.
The clip also says that the Pritzkers get their hands on the money from collections before the people that lost their money in the bank.
This just plain isn’t right.
Just goes to show how dang stupid BO is, he ought not to be associating with her with a 10 foot pole, no matter how prominent the Pritzker name is in Chicago.
So stupid or is it arrogant? Never can tell with BO.
During my research, one of the sites mentioned Michelle Obama being on the board of that college at the time of the hefty Pritzker donation. I was intending to research whether Michelle Obama was on that College Board at that time, but I dropped that ball.
2003?
Great post.
I will be doing a post soon on the actual names of the registered lobbyists who have bundled money for Obama and the totals.
I’ll look forward to reading it. Thanks for all the hard work and great reading and links!
Here is a link to the GAO report on the Superiro Bank failure and while it doesn’t name any names and spreads the blame around but the decisions that evetually lead to the failure were made the during Penny’s tenure 1989-1994. Only shortly after releasing itself from an FSLIC assistance agreement.
sorry guess the link didn’t go up
http://www.gao.gov/new.items/d02419t.pdf
Thanks FLVoter.
During my research, one of the links I came across mentioned that Michelle “Grumpy” Obama was on the board of that college that the Pritzkers made that hefty donation to. I intened to research whether she was actually on that board at the time, but I dropped the ball.
This is sounding kinda like the Hospital raise she got after he was elected to the senate. Has anyone dug up his papers that have disappeared or is this a non-issue. Ironic his supporters comparing HRC to Nixon and Ol’ Bill to McCarthy. Hmmm… Let’s see … Missing records/ Nixonian behavior = Obamessiah…. Corrupted insiders currently or formally under indictment /Nixonan behavior = Obamessiah…. Political bullying/ McCarthy behavior =Obamessiah…. Disenfranchising 6 million voters in 2 states/ Bush-Cheney behavior = Obamessiah…. Indulging in cult fan adoration/ Pick any 20th c despot = Obmessiah. Bad bowling/ Dukkais in the tank type political behavior = Obamessiah. …Crooked lawyer that defies ethical code of the ABA on attorney client priviledge ( which is permanent ) Nixonian behavior = Obamessiah…. Pretentious attitude/ Oprah, no Michelle, no Oprah behavior = Obamessiah. Yeah, is it any wonder why this guy will not win over the other 2/3 of the base, Fail to unify the party or win the general election ?
Uppity; there are SO many balls one might drop after a week you I start to feel like a circus clown juggling all of them, it can make one dizzy. It stands to reason that Fitzgerald was running this investigation when he was called to investigate Valerie Plame Wilson, and was in the middle of stuff just to be pulled away. Makes you wonder what 38 billion can buy. A whole lotta sand for sure.
Was it 2003 Michelle was on the board?
Any of these names ring a bell?
http://www.chicagochildrensmuseum.org/leadership.html
Sorry for that double post. My broadband signal is going to hell this week and it looked as if the post didn’t happen so I did it again.
As an active supporter of Hillary in Chicago, Larry you should have left this along. Her brother Jay is Hillary’s Illinois Co-chair. He’s at every event I have attended, normally front and center. And, has sponsored several. The Pritzkers have always been active here, normally working for the same canidate, but like most familes in this election, they are split.
I was aware that he was with Hillary when I wrote this. It is in at least one of my links. The thing is, being a donator and a strong supporter, or even a co-chair does not negate what Penny did with the bank under her watch. That is why I had no problem with it.
It also says a lot that such a person would actually be a finance chair.
Obama has Rezko for a Us senate finance chair,
Toni Preckwinkle state senate race..
Money is the only thing BO cares about. Not character
Dear OBSP
Thank you for your rationality.
This is the blogsite where they run searches on anyone who made eye contact with Obama, to come up with any real or fictitious reason so they can accuse Obama of wrongdoing.
They get sexual satisfaction if they can call Obama a liar, a thief, a racist, a mysogonist, who has CNN, MSNBC, and all progressive radio hosts on the payroll.
They wanted to disbar Obama’s campaign counsel who was involved in the impeachment defence of Clinton,
as if a lawyer would sign up for life time slavery with a former client.
Stay tuned…
Sick bizarre, are all Oborgs as mindless DJ’s post?
Her brother Jay is Hillary’s Illinois Co-chair. He’s at every event I have attended, normally front and center. And, has sponsored several
Ouch. LOL!!
I always enjoy when Barack Obama fells a tree and somebody finds a twig that belongs to Hillary and runs with it, while the tree is still across the road.
Don’t think there is any love lost.
http://www.chicagotribune.com/news/nationworld/chi-0705130653may14,1,540339.story?page=1&coll=chi-newsnationworld-hed
Here are some other famous contributors
http://www.politicalbase.com/people/hillary-clinton/2297/money/
and I must say I was relieved to see that both Joanne Woodward and Paul Newman are Hillary contributors. If they had been split I think the world might be coming to an end.
ROFLOL! indeed! oh thank THE GODDESS!
FL Voter L
I have already posted this on Uppity’s blog, but I think I will rinse and repeat…
Anyone that would put more than $100,000.00 into one bank (when it’s extremely clear at ANY bank that your money is ONLY FDIC insured up to $100,00.00) is either being greedy (as Superior Bank offered a higher interest rate than most banks) or just plain stupid. Everything knew the risk going in and there were NO VICTIMS. It’s like putting your money in the stock market and expecting a guarantee that you will get your money back. We should be that lucky!
Obama was recently quoted regarding this so-called scandal: “Penny Pritzker was never accused of any wrongdoing nor did she receive compensation in relation to the closing of Superior Bank in 2001, and instead of walking away as millions of homeowners and stockholders suffered, the Pritzker family entered into a voluntary settlement and agreed to pay the government $460 million to defray its losses. Former FDIC Chairman William Isaac said he had ‘never known any investor in a failed bank to take responsibility as the Pritzkers have done.’ Senator Obama believes that the current housing crisis was caused by lax regulation and a system that put the interests of corporations before the interests of homeowners and investors and he has proposed an aggressive plan to step up the regulation of our financial markets to restore fairness and balance to our economy and to prevent a housing crisis of this scale from occurring again.”
Also, Forbes ran this in 2002: Former FDIC Chairman: “I’ve Never Known Any Investor In A Failed Bank To Take Responsibility As The Pritzkers Have Done.” Former FDIC Chairman William Isaac wrote in a Letter to the Editor, “I represented the Pritzkers in their discussions with the FDIC after Superior Bank failed. The family decided to stand behind its investment, ultimately agreeing to pay the FDIC $460 million over a 15-year period, without interest. This is roughly equivalent, on a net present value basis, to the amount the family offered to contribute to keep Superior from failing. I served as FDIC chairman during the 1980s banking crisis. I’ve never known any investor in a failed bank to take responsibility as the Pritzkers have done. ” [Forbes, William Isaac Letter to the Editor, 10/14/02]
It’s easy to write negative things about people instead to telling the complete truth.
Meredith
thank you for this most revealing information!
One if by land, two if by sea? Is what your shouting about?
He has a housing crisis. Who did that “lax regulation” workout for him?
And all those people in 30 buildings Rezko, 11 in his districtand he doesn’t Know? Great! Obamaites have to ignore the morallity of a person who estabilshes a “fellowship” to campaign in all fifty states this summer, when he doesn’t want a vote in two of these states and he is not the nominee?
Who’s corporation was put before the “interests” of homeowners? (read heat and running water and the pensions of a whole bunch of people)
Obama and Rezko took advantage of those LAX regulations for personal gains at every turn.
“It’s easy to write negative things about people instead to (sic) telling the complete truth.” Obama supporters do this to Clinton constantly.
Oops… started reading… hit greedy and stupid and then Ouch! you blamed the victims. I stopped reading. Nice try for your guy though. Still would never vote for him.
Yes I would appreciate, Meridith, if you would pick a spot so that neither of us has to post to one another twice.
There was no choice but to take responsibility.
The Dept of the Treasury and FDIC made sure of it.
And it was clear the subprime lending and overly high interest rates they were warned against, the backing of only 2 percent, were under Penny’s watch. Of course they had to take responsiblity, the bank was owned by them. I kind of think, no wonder they fight. A seizure is a pretty big blunder, I know you will agree, especially considering the people who lost out.
There’s an old saying though. You can pick your friends but you can’t pick your relatives.
By the way, the agreement is mentioned in the links on the article. See NY Times piece. The Forbes thing, is this their lawyer talking? (The Former FDIC Chair quote)?
Uppitty, I take it Meredith didn’t listen to your link of the woman that lost her money. Or maybe she did and just didn’t care.
Meredith you really should listen - You know the US is full of people some more sophisticated about things than others, a lot of people may not be aware that their funds are only 100,000 FDIC insured. Wouldn’t it be WONDERFUL, if a bank was REQUIRED by law to tell a depositer that if they are depositing over that amount? Don’t guess that would happen under BOs administration though.
Of course let’s just blame the victim. It’s all about personal responsibility with BO and his supporters now is it? Sure sounds like Grover Norquist or someone equally empathetic with the plight of the less fortunate.
I did, in fact, listen to her and I will say that she knew the risk of putting more than $100,000 into one bank. She knew enough to take her money out of the stock market. If she had spread her money among other banks (but she was greedy and wanted the high interest rates) she would not be in the position she put herself in now.
According to Forbes (and the former FDIC Chairman), all the people got back two-thirds of their money (plus the government insured $100,000). She is misrepresenting that she is out the entire $400,000 and I feel that the interviewer did not probe and get the truth. This is a case of one sided journalism.
And Uppity, if you had picked one spot I wouldn’t have posted twice!
I come here every day, among other sites. I look to you folks for information, and you have come through. I don’t comment, because I’m not American, and this is your fight. I am delurking because of the filth posted by
“Comment by DJ | 2008-04-04 18:53:11
They get sexual satisfaction if they can call Obama a liar, a thief, a racist, a mysogonist, who has CNN, MSNBC, and all progressive radio hosts on the payroll
I would never comment on an American election, however, I think you folks are on the right track, if this is a measure of the supporters of Mr Obama (that comment is the height of ignorance which leads me to believe the commenter is not of an age where he/she can make rational decisions based on experience. I wonder whether these people realize how much damage they are doing to themselves by unleashing these ignorant lemmings to make inflammatory statements such as this. As mentioned, I’m not an American, I cannot vote, so my opinion is less than useless, unless one views it in the context of internationalism. If America wants to become a beacon again, then…..
Anyway, if I could vote, it would be Hillary all the way. She is the only one in the race that has a handle on international issues, and frankly, the U.S. is going to need the International world very shortly, thanks to GWB.
I, for one, appreciate hearing from the international community, so thank you. I have wondered if citizens in other countries were seeing through Obama (e.g., I know in Australia, there was a VERY good meeting between Clinton the new PM, but Obama talked to him briefly on the phone). It had been my impression from our warped media that people WERE, so this is good to know. I had thought that Clinton had a good impresion abroad - would you concur? Anyway, thanks for your comments.
And Uppity Woman, thank you for YET another informative expose. Your work is critical to this election (oh - and I’m the Rabble Rouser whose blog you have been kind enough to drop by!).
Hey Rouser! Good to connect the name to the face!
Thanks buddy. your comment is always welcome here.
I will never vote for Obama now that I know his financiers have defrauded the poor. This guy is a joke.
except the outcome was little more like this
from the GAO report
“December 2001 FDIC and OTS reached a resolution with the holding companies of Superior Bank on “all matters arising out of the operation and failure of Superior Bank. Under the terms of the agreement, the Superior holding companies and their owners (the Pritzker and Dworman interests) admit no liability and agreed to pay the FDIC $460 million and other consideration.”
A deal that lead to a sweet rebate to the Pritzkers:
In fact, Ernst & Young did finally settle with the FDIC on December 24, 2004, for a grand
total of $125 million. Thus, the Pritzker’s take, accounting for their negotiated twenty-five
percent interest in the settlement, will be around thirty million dollars. Pritzkers to Get Millions
in Settlement, at http://www.forbes.com/associatedpress/feeds/ap/2004/12/28/ap1730436.html (last
visited January 25, 2005).
see:
Justice and the Administrative State:
The FDIC and the Superior Bank Failure
http://www.luc.edu/law/activities/publications/lljdocs/faclawsymp/johnson.pdf
In closing, I was asked at my blog why I keep saying this bank problem was Penny’s deal.
She was the chairwoman of the bank.
http://www.businessweek.com/magazine/content/01_37/b3748104.htm
FLAVoter: there is nothing like the fury of a disinfranchised voter.
WhattheH: We are finally immune to those remarks and sexual innuendos. In fact, that one was kind of mild to some I’ve seen.
Maybe we should start the rumor that the Obama folks “invented” the subprime mortgage…except it may be too close to the truth to be a rumor.
FlVoter,
That would be Greenspan. Remember him? The guy that Hillary wants to appoint to a commission to examine the crisis!!
Just so that everyone understands what was at stake:
“As the FDIC considered its options regarding Superior’s failure, one course of action was to recover damages from Superior’s managers and
stockholders for their role in the bank’s failure and to consider imposition of criminal penalties. The government reports issued in the aftermath of Superior’s closing suggest several possible justifications for this action. The FDIC could have argued, at best, that Superior’s management and board of directors were negligent and “asleep at the
wheel.” At worst, and depending upon the results of its investigation, the FDIC could have pursued the harsher remedies of criminal or racketeering prosecution of Superior’s upper echelon and its
shareholders.”
http://www.luc.edu/law/activities/publications/lljdocs/faclawsymp/johnson.pdf
except that the Pritzker’s Superior bank was long since gone in 2003. They were in the subprime business in the mid 90’s.
I do find it curious that this story never seems to really take off in MSM, even though it’s been around for close to a year.
It’s got everything, sub-prime, jilted investors, sibling rivalry (Penny vs. J.B.).
What more do they want in a story?
they want it to be hillary’s fault.
By no means was I trying to defend the finance chair of O’bama campaign. I truly believe that they have run the most negative campaign I have ever seen. If you want to research something, look at our states mob connected treasure. He’s a Jesse Jr. close friend. And look at his political god father, scary! I wanted to just state that there are Pritzers on both sides.
Another clear example of SHADY OBAMA. He surrounds himself with people of scandal and wrongdoing from Rev.Wright, Tony Rezko, and now Penny Pritzker. Naming her his finance campaign chair is absolutely hypocritical when he preaches during debates and speeches to crack down on subprime lending. He appoints one of the first lending institutions owner Pritzker to run his campaign finances! Unbelievable! Another item the mainstream media will not discuss. As for those that indicate her brother Jay Pritzker supports Hillary. He is NOT her finance campaign mgr NOR did he head Superior Bank.
Tony Rezko watch ,clict on One-degree of separation and you can read the wholestory about Penny Pritzker.
Micheal Obama is a horrible woman, and Racist,
She said if Her husband does not win she will not back the democratic Party,,,
that is why so many Hilary Voter will not even back Obama if he wins the primary, There not going to vote or Vote for McCain,,, Just like the Obama supports say if Hilary wins the Primary,,Obama supporter will Vote for McCain,,, I do think America is Ready for a Black President, it would be good for the country,, Not Barack Obama,,He has No agenda, Anything he says He going to do came from Hilary,, Or the Media tell him what he should do..If Barack Obama Became president,,,Cancel Christmas, we don’t need a liar & closest Racist in the white house, Thanks to CNN & Msnbc or trying to Propaganda this race and make it one sided,,, Obama gets all positive press. Hilary gets all negative press,, but Hilary Voter will never back Obama
How could the press let this go…..the fact that Penny Pritzker worked on NAFTA for Clinton…..and yet Obama is making all sorts of unfounded statements about Hillary and her supposed NAFTA support and promotion, YET his finance chair was
actually appointed by Bill Clinton to carry out NAFTA promotion functions?
THE PRESIDENT NAMES THE CHAIRMAN AND FIVE MEMBERS TO THECOMMUNITY ADJUSTMENT AND INVESTMENT PROGRAM ADVISORY COMMITTEE
THE WHITE HOUSE Office of the Press Secretary, (04 Apr 1995)
http://clinton6.nara.gov/1995/04/1995-04-04-community-adjustment-program-advisors-named.html
“The President today announced his intention to appoint William Podlich as Chairman, and Loretta Armenta, Glenn Biggs, Linda Griego, Dionicio Morales and Penny Pritzker as Members of the Community Adjustment and Investment Program Advisory Committee for the North American Development Bank. “…”Ms. Pritzker of Chicago, Illinois is the President of Classic Residence by Hyatt, the senior living affiliate of the Hyatt Corporation as well as President of the Penguin Group. She is the former Chairman of the Board of Directors of Superior Bank and is a member of the board of directors of the Coast to Coast Financial Corporation. The members of the Community Adjustment and Investment Program Advisory Committee will provide advice to the President regarding the implementation of the Community Adjustment and Investment Program that was established as a part of the North American Free Trade Agreement (NAFTA). Such guidance will include guidelines to be established for loans and loan guarantees, needs for adjustment assistance, and investment in support of the goals and objectives of the NAFTA. ”
What the heck????????
It’s the ultimate in hypocrisy by the media, press, and Obama himself.
It looks as if The Prizkers wish to have in put into legislation as a quid pro quo, How much can donations to pacs be saturated by the Pritzkers? Plenty i bet.
Our we doomed to the ” Any orangutan can win ” syndrome ,since the GOP can’t really beleive that the electorate will stomach McCain.
Dump McCain get someone else .
Obama is keeeping very strange Chicago company
, is this the same Pritzkers’ that had to sue each other over will of the estate of a parent?
Sad , but the political future looked good for the well turned out Obama.
He’s so good on TV.
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